Appian Corporation (APPN) Earnings Call Transcript & Summary

Good day morning and welcome to the Appian Corporation Annual Meeting of Stockholders. I'd now like to turn the conference over to Matthew Calkins, Chief Executive Officer. Please go ahead.

Good morning. This is Matt Calkins, CEO of Appian. I'm pleased to welcome you to the Appian 2020 Stockholders Meeting, which we are conducting over the Internet. Before we call the meeting to order, I'd like to introduce you to the members of the Board and the business team who are with us today. The other members of the Board joining today are Bob Kramer; Jack Biddle; PV Boccassam; Bobbie Kilberg, Mike Mulligan and Mike Devine. Chris Winters, our General Counsel and Secretary, is also joining us today. I would also like to introduce Will Choi, Heidi Franklin and Eric Lo of BDO, our independent registered public accounting firm, who will be available to respond to appropriate questions at the end of the meeting. I will now turn things over to Chris Winters to proceed with the business of the meeting.

Thank you, Matt. The meeting will now officially come to order. As a preliminary matter, this is a virtual meeting conducted via live audio webcast, which is taking place only over the Internet. Once the polls are open, stockholders will be able to vote in real-time until the polls are closed by clicking on the Vote Here button on your screen. Stockholders may also submit questions while the meeting is in progress. We will review and aggregate similar questions and will answer stockholder questions at the end of the meeting. I have at this meeting a complete list of the stockholders of record of our common stock on April 15, 2020, the record date for this meeting. I also have an affidavit certifying that on April 28, 2020, a notice of annual meeting of stockholders was deposited in the U.S. mail to stockholders of record at the close of business on April 15, 2020. Angela Patterson, an Associate General Counsel for Appian, has been appointed to act as inspector of election at this meeting. Angela has taken and subscribed the customary oath of office to execute her duties with strict impartiality. We will file this oath with the records of the meeting. Her function is to decide upon the qualification of voters, accept their votes and when balloting on all matters is completed, to tally the final votes. I have been informed by the inspector of election that proxies have been received for 59,906,707 shares of Class A and Class B common stock of the 67,657,333 shares of Class A and Class B common stock outstanding on the record date, which represents approximately 93% of the total voting power of the outstanding shares of our Class A common stock and Class B common stock entitled to vote. Our Class A and Class B common stock vote together as a single class. This constitutes a quorum for the meeting today and we may now carry out the official business of the meeting. We will now proceed with the formal business of the meeting as set forth in your notice of annual meeting and proxy statement. Voting is by proxy and online. Most of you have already submitted your proxy to vote and don't need to vote again unless you want to change your vote. The time is now 11:03 a.m. on Tuesday, June 9, and the polls to vote online for each matter being voted on at this meeting are now open. If you wish to vote now, regardless of whether or not you already submitted a proxy, you may do so now by clicking the Vote Here button on your screen. The polls will be closed to voting after we go through the matters to be voted on. Holders of our Class A common stock are entitled to vote one per share. Holders of our Class B common stock are in entitled to 10 votes per share. The first item of business is the election of 7 directors to serve until the 2021 Annual Meeting and until their successors are elected and qualified. The nominees for director are Matthew Calkins; Robert C. Kramer; A.G.W. "Jack" Biddle, III; Prashanth "PV" Boccassam; Michael G. Devine; Barbara "Bobbie" Kilberg; and Michael J. Mulligan. The Board of Directors recommends a vote in favor of each of the directors -- each of the director nominees named in the proxy statement. The second item of business today is the ratification of the selection of -- by the Audit Committee of BDO USA, LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020. The Board of Directors recommends a vote in favor of this proposal. The next item of business today is an advisory vote on the approval of the compensation of our named executive officers as disclosed in the proxy statement. The Board of Directors recommends a vote in favor of this proposal. The fourth and final item of business today is an advisory vote on the preferred frequency of future stockholder advisory votes on the compensation of our named executive officers. The Board of Directors recommends a vote in favor of 1 year for this proposal. That was the final proposal for today's meeting. The time is now 11:05 a.m., and the polls are now officially closed for voting. The votes are being counted, and we appreciate your patience during this process.

May we have the results of the voting.

The report of the inspector of election covering the proposals presented at this meeting is as follows: The proposal to elect Matthew Calkins; Robert C. Kramer; A.G.W. "Jack" Biddle, III; Prashanth "PV" Boccassam; Michael G. Devine; Barbara "Bobbie" Kilberg; and Michael J. Mulligan as our directors is carried. The selection of BDO USA, LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020, is ratified. The compensation of our named executive officers as described in the proxy statement has been approved. The preferred frequency of future advisory votes on named executive officer compensation is every 1 year. We expect to report our final voting results on our current report on Form 8-K.

Now let's move on to any other business. Chris, were there any other items of business or proposals that were properly made by any stockholder of the company?

No, there were not.

With that, we've reached the end of the formal business for this meeting, and I therefore declare this annual meeting to be adjourned.

Thank you, Matt. At this point, we will answer any questions that may have been submitted by our stockholders. While we are reviewing questions, please keep in mind that statements made during the course of this meeting, including any response to questions that may follow this meeting, may constitute forward-looking statements. The company's actual results may differ materially from those suggested here. Additional information concerning factors that could cause such a difference can be found in the company's annual report on Form 10-K for the year ended December 31, 2019, the company's quarterly report on Form 10-Q for the quarter ended March 31, 2020 and our subsequent SEC filings. Seeing as there are no questions, thank you for joining us at this year's annual meeting. We hope that you share our excitement about Appian, and we look forward to seeing you again next year.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.