BellRing Brands, Inc. (BRBR) Earnings Call Transcript & Summary

Hello, and welcome to the 2021 Annual Meeting of Stockholders of BellRing Brands. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Rob Vitale, Executive Chairman of the Board of BellRing.

Good morning, ladies and gentlemen. I am Rob Vitale, Executive Chairman of the Board of BellRing Brands. As you know, we are hosting today's meeting through an online platform for the first time, maybe the last. We made the decision to meet online in light of the public health impact of the ongoing COVID-19 pandemic and to help protect the health and well-being of our stockholders, employees and the broader community. While the meeting is virtual only, stockholders of record and registered beneficial owners who joined the meeting as stockholders with their control numbers will have the opportunity to ask questions related to meeting matters, which we will address following our discussion of the proposals to be voted on. We will also answer questions after the adjournment of the meeting. Please note that the rules of conduct for this meeting have been posted on the meeting website. To conduct an informative and orderly meeting, we ask that all meeting participants abide by these rules. Before I call the meeting to order, I would like to introduce members of our management team who are with us today: Darcy Davenport, our President and CEO; Paul Rode, our Chief Financial Officer; and Craig Rosenthal, our General Counsel and Corporate Secretary. Also joining us today to moderate any questions we may receive is Jennifer Meyer, our Director of Investor Relations. [indiscernible] of PricewaterhouseCoopers, the company's independent registered public accounting firm, is also present and available to respond to appropriate questions. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in our notice of annual meeting and proxy statement. The Board has appointed Mr. Rode as inspector of election for this meeting. He has filed his oath of office with the Secretary. A list of stockholders of the company as of January 4, 2021, the record date for this meeting is available for viewing on the meeting website. There were 39,509,247 shares of Class A common stock and 1 share of Class B common stock outstanding on the record date, representing a combined 119,724,991 votes. Approximately 98% of the voting power is represented in-person or by proxy at this meeting. We have a quorum and may now proceed. Mr. Rosenthal, will you file the affidavit of mailing with minutes of this meeting. There are 2 proposals to be considered by the stockholders at this meeting. I now declare the polls open for each item to be voted on today. We will close the polls on all matters immediately after the presentation of today's proposals. Most of you have already voted by proxy, and your shares will be voted accordingly. You do not need to vote again at this time unless you wish to change your vote. If anyone would like to vote now or revoke his or her prior vote, please follow the instructions on the meeting website before the polls close. The first item to be voted on is the election of 2 Class II Directors Thomas Erickson and Jennifer Kuperman are the 2 nominees to serve as Directors for a 3-year term expiring at our 2024 Annual Meeting. No other nominations have been received. The second and final item to be voted on is the ratification of the selection of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending September 30, 2021. We will now address any questions related to these proposals. There being no questions, the polls are now closed. We will now hear the report on the voting results. The preliminary voting results are based on proxies received prior to the commencement of this meeting. All votes submitted on the website during this meeting will be verified, and the final voting results will be reported on the Form 8-K filed with the SEC within 4 business days of this meeting. Mr. Rosenthal, please present the preliminary results of voting.

Thanks, Rob. The inspector of election reports that the company has received the necessary votes required to pass the following: Thomas Erickson and Jennifer Kuperman Johnson have each been duly elected as Directors of the company to serve a term of 3 years expiring at our 2024 Annual Meeting. And the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending September 30, 2021, has been ratified. As a reminder, the final voting results for these items will be disclosed on the Form 8-K to be filed with the SEC within 4 days of this meeting. This concludes today's meeting, and the meeting is now adjourned. On behalf of BellRing's Board and management, thank you for attending today's meeting.

At this time, we would like to take any additional questions you may have for us today. [Operator Instructions] Jennifer, are there any questions?

No questions.

As we have no questions, we thank you again for attending today's meetings.

This concludes the meeting. You may now disconnect.