C3.ai, Inc. (AI) Earnings Call Transcript & Summary

Welcome to the Annual Meeting for C3 AI. Our host for today's call is Chip Lutton, Senior Vice President and General Counsel. [Operator Instructions] I would now like to turn the call over to your host. Mr. Lutton, you may begin.

Thank you. Hello, and welcome to C3 AI's 2021 Annual Meeting of Stockholders. I'm Chip Lutton, Senior Vice President and General Counsel of C3 AI. We're pleased to be conducting today's meeting as an audio webcast and are happy you can join us. As a reminder, this meeting is being recorded. The meeting will now come to order. I will begin with a few introductions. I'm joined today by Tom Siebel, Chief Executive Officer and Chairman of C3 AI and Chair of today's meeting. I'm also joined by Ed Abbo, C3 AI's Chief Technology Officer; Houman Behzadi, C3 AI's Chief Product Officer; David Barter, C3 AI's Chief Financial Officer; Brady Mickelsen, C3 AI's Corporate Secretary. I would also like to welcome our Board of Directors who are attending this meeting. We have also with us representatives from Deloitte & Touche LLP, our independent registered public accounting firm, as well as legal counsel from Cooley LLP. Finally, Beth VanDerbeck from Broadridge Financial Solutions is participating on this webcast and will act as the Inspector of Elections for today's meeting. She signed an oath of office, which will be filed with the minutes of this meeting. This meeting is being held in accordance with C3 AI's bylaws and Delaware law. A copy of the rules of conduct that govern today's meeting can be found in the Meeting Materials section of the web portal for today's virtual meeting. We ask that you abide by those rules in order to facilitate an orderly meeting. We will address the matters described in the company's proxy statement dated August 20, 2021. We will open the polls, and each proposal to be voted on will be presented in the order set forth in the proxy statement. No other matters have been brought forward for consideration at today's meeting. If you have not already voted and wish to do so during today's meeting, you may also -- you may vote at any time while the polls remain open. If you've already submitted your vote by proxy and you do not wish to change your vote, you do not need to vote now, and your shares will be voted as previously instructed. If you intend to vote and have not already done so, you must submit your vote for online -- online for it to be counted. Once voting is passed, the polls will be closed, the votes tabulated and preliminary voting results will be announced. This will conclude the formal business of the meeting. After the formal business of the meeting is concluded, we will take appropriate questions from stockholders. Any stockholder entitled to vote at the meeting and logged into the web portal may ask a question at any time by entering it into the appropriate section of the web portal. Please note that the question must conform to the posted rules of conduct for the meeting to be addressed. I have been informed by Ms. VanDerbeck that a majority of the voting power of the outstanding shares of our capital stock entitled to vote at today's meeting are present, either virtually or by proxy. As this constitutes a quorum, today's meeting is duly convened and open for business. We will now proceed with the formal business of the meeting. It's shortly after 10:00 a.m. Pacific Time. And at the direction of the meeting's chair, the polls are open for stockholders desiring to vote today. As a reminder, if you've already sent in a proxy or voted via telephone or Internet and do not wish to change your vote, no further action is needed. [Voting]

There are 2 proposals being considered by stockholders at this meeting, each of which is more fully described in the company's proxy statement dated August 20, 2021. The first proposal is the election of 3 Class I directors, each to hold office until 2024 Annual Meeting of Stockholders and until his or her successors are duly elected and qualified or until his or her earlier death, resignation or removal. The Class I director nominees are Patricia A. House, S. Shankar Sastry and Thomas M. Siebel. The Board of Directors recommends that you vote for the election of each of these Class I director nominees. The second proposal is the ratification of the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending April 30, 2022. The Board of Directors recommends that you vote for ratification of the appointment of Deloitte & Touche LLP. No other proposals have been properly presented for consideration at today's meeting. [Voting]

At the direction of the meeting's chair, the polls are now closed for voting. No additional ballots, proxies or votes, no changes or revocations will be accepted. And based on the preliminary voting results as reported by the inspector of the elections, the stockholders have: first, elected each of the Class I director nominees to hold office as Class I directors until the end of 2024 Annual Meeting of Stockholders and until his or her successors are duly elected and qualified or until his or her earlier death, resignation or removal; and second, the stockholders have ratified the appointment of Deloitte & Touche as the company's independent registered public accounting firm for the fiscal year ending April 30, 2022. We expect to disclose preliminary voting results and -- or if available to us, final voting results on a current report on Form 8-K to be filed with the SEC within 4 business days after this meeting. If not already reported, we expect to report our final voting results in an amendment to our Form 8-K within 4 business days after the final results are known to us. This concludes the planned agenda for today. There being no other formal business before us, this annual meeting is adjourned. We'll now -- not seeing any questions. And there being no further questions, we will conclude this meeting and conclude the webcast at this time. Thank you again for your attendance and for your support of C3 AI.

This now concludes the meeting. Thank you for joining, and have a pleasant day.