BK Technologies Corporation (BKTI) Earnings Call Transcript & Summary

Greetings, and welcome to BK Technologies Corporation 2024 Annual Meeting of Stockholders. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Josh Horowitz, Chairman of the Board of Directors of BK Technology Corporation. Josh, please go ahead.

Thank you. I am Josh Horowitz, Chairman of the Board of Directors of BK Technologies Corporation and I welcome all of you to our 2024 Annual Meeting. On behalf of the Board and the executive management team of the company, we hope that you and your families are doing well. This meeting is being conducted virtually through webcast with the assistance from -- our assistance from Issuer Direct. Stockholder questions or comments are welcome and will be taken via the check feature on the meeting page. We had technicians ready to assist you with any technical difficulties. If you are having technical difficulties or need assistance with your voting, please call (844) 399-3386 or (919) 744-2718 or follow the on-screen prompts to contact technical support. The 2024 Annual Meeting of Stockholders is now called to order. After we finish the formal portion of the meeting, we will address any questions that you may have. Scott Malmanger serves as the Secretary and will now report the steps taken in connection with this meeting. Scott?

Thank you, Josh. I have copies of the proxy statement and the notice of Internet availability of proxy materials and a certificate of mailing stating that copies of the notice for the meeting were mailed to each stockholder of record as of the close of business on April 22, 2024. The record date for this meeting on or about May 1, 2024. These documents will be included with the minutes for this meeting. A certificate list of stockholders will remain open for inspection throughout this meeting.

Thank you. Tina Boucher has been appointed to act as Inspector of Election at the meeting. A copy of her oath of office will be included with the minutes of the meeting. The inspector has advised me that a quorum is present, so we will proceed. The polls are now open for voting and will close upon the conclusion of any discussion on the last item being voted on here today. If you've already voted by mailing in your proxy by telephone or online, you don't need to take any further action. If you have not voted yet, you may vote during the meeting by clicking on the Vote My Shares link on the meeting page and following the on-screen prompts. Our agenda today consists of 4 items of business. Proposal 1 is the election of 7 directors, Joshua S. Horowitz, myself, R. Joseph Jackson, Charles T. Lanktree, Ellen O. O’Hara, E. Gray Payne, Lloyd R. Sams and John M. Suzuki, each to serve until the next Annual Meeting of Stockholders and until his or her successor is duly elected and qualified. Proposal #2 is the ratification of the appointment of MSL, P.A. as our independent registered public accounting firm for the fiscal year ending December 31, 2024. Proposal #3 is the approval on an advisory nonbinding basis of the compensation of our named executive officers, the so-called say on pay and to transact any other such business properly brought before the meeting and any adjournment or postponement of the meeting. [Voting]

The vote required for each proposal is described in the proxy statement. Is there any discussion on this proposal? Okay. Not seeing any. Now that all proposals have been presented, we will proceed to close the poll. Polls are now closed. The Inspector has advised me that the preliminary voting results are for proposal 1, all 7 director nominees have been elected by a plurality of votes cast. For Proposal 2, the appointment of MSL as our independent registered public accounting firm for fiscal 2024 has been affirmed. For proposal 3, the compensation of our named executive officers has been approved. We will report the final voting results in a Form 8-K filed with the SEC no later than the next Wednesday, and the final report of the Inspector will be included with the minutes for this meeting. With the voting concluded, we will open the meeting up to questions. You may submit questions using the chat feature on the meeting page. Does anybody have any questions? Okay, not seeing any. As there is no other business to come before the meeting, BKTI's 2024 Annual Meeting of Stockholders is now adjourned. We thank everybody for their participation.

Thank you very much. This concludes today's conference. You may disconnect at this time. Thank you for your participation.