Boise Cascade Company (BCC) Earnings Call Transcript & Summary

Welcome to Boise Cascade Company 2021 Annual Meeting of Shareholders. Would now like to introduce the first presenter, Nate Jorgensen, CEO and Director of Boise Cascade Company.

Great. Thank you. Good morning, ladies, gentlemen, and fellow shareholders. I'm Nate Jorgensen, CEO and a director of Boise Cascade Company. Welcome to Boise Cascade Company's Annual Shareholders Meeting. The meeting is now called to order. The record date for this meeting is March 8, 2021, and each stockholder as of record of that date has been given proper Notice of the Meeting. A quorum is present. Affidavits relating to the mailing of the meeting notice, the proxy materials and the annual report will be filed with the records of this meeting. A complete list of stockholders as of the record date is available on the meeting website. The list has been opened to stockholders of record for the last 10 days. We're excited to be hosting our virtual meeting, which allows us a more inclusive and reach a greater number of our shareholders. We have attendance available to shareholders via the web portal. After the formal portion of the meeting, we will allow time for shareholder questions. Though we may not be able to answer every question, we'll do our best to provide a response to as many as possible. We will limit this meeting to essential business elements, and we're following a standard agenda and procedures for today's annual meeting. The inspector of the election tells me that approximately 35,755,826 of Boise Cascade shares are represented at the meeting either by virtual appearance or by proxy. As of this morning, May 6, 2021, we are at 90.9% of shares voted. And now I'd like to introduce the members of your Board at today's meeting: Tom Carlile, Chairman of the Board, who has served as one of our directors since 2013; Steven Cooper, who has served as one of our directors since 2015; Richard Fleming, who has served as one of our directors since 2013; Karen Gowland, who has served as one of our directors since 2014; David Hannah, who has served as one of our directors since 2014; Mack Hogans, who has served as one of our directors since 2014; Kristopher Matula, who has served as one of our directors since 2014; Christopher McGowan, who has served as one of our directors since 2013; Duane McDougall, who has served as one of our directors since 2013; Sue Taylor, who has served as one of our directors since 2019; and myself, Nate Jorgensen. I have served as a director since March of 2021. Now I will present the matters described in our proxy materials and being voted on today. Proposal number one. Our proxy statement lists the 11 people you have just met, who are presently serving as Directors of the company. As described in the proxy materials, the nominating committee and your Board of Directors have duly nominated 4 continuing directors to be elected at this meeting for terms to expire in 2022. Those directors are Nate Jorgensen, Richard Fleming, Mack Hogans, Christopher McGowan. The nominations for Directors are now closed. You're also being asked to take action regarding 2 additional proposals. Let me briefly describe them. Proposal number two is an advisory note to approve executive compensation. Proposal number three requests ratification of our independent accountant. There being no further items to be voted on today, the polls are now open for voting. Any stockholder or proxy holder present who has not voted or wishes to vote at this time may do so by submitting their vote on the website for which you have accessed this meeting. Only stockholders of record or proxy holders may vote at this time. I will pause for 30 seconds for stockholders to vote online. [Voting]

Now that stockholders have had an opportunity to vote, the polls are now closed. The final report of the inspector of election will not be available before the end of the meeting. However, I'm advised by the inspector of election that he has counted the votes and certifies that proxies representing at least 90.9% of the common stock have been received. The preliminary results indicate that all 3 of the proposals have been approved by our shareholders. No material changes in the outcomes are expected. This concludes the formal portion of our Annual Shareholders Meeting. The meeting is adjourned. We will now allow time for you to ask questions that you may have for management. If any shareholder would like to make a comment regarding any of the proposals, please submit your comments through the web portal. I will now open the meeting to your questions. There being no questions, I thank you for joining us today. Our meeting is now concluded.