Cable One, Inc. (CABO) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. The 2021 Annual Meeting of Stockholders of Cable One will please come to order. I'm Julie Laulis, Chair of the Board, President and CEO of Cable One. I will act as Chair of the meeting. On behalf of our directors and officers, let me welcome all of you to the meeting, including those joining us via audio webcast. Peter Witty, our Senior Vice President, General Counsel and Secretary, is here with me and will act as recording secretary of this meeting. I would also like to introduce the directors and certain other attendees who are present today, including those who are participating virtually. Beginning with our directors, we have, Brad Brian, Tom Gayner, Debbie Kissire, Mary Meduski, Tom Might, Kris Miller, Sherrese Smith, Wally Weitz, and Katharine Weymouth. [ Chris Arnson ], our associate General Counsel, will serve as Inspector of Election. Finally, joining us here from PricewaterhouseCoopers LLP, our independent registered public accounting firm, are Glenn Bier and Kyle Mignano. We will now proceed with the formal business matters to come before this meeting as set forth in the proxy materials previously provided to stockholders. I call upon Mr. Witty, to report as to the mailing of the proxy materials and notice of this meeting.

Thank you, Madam Chair. An affidavit of distribution for this annual meeting has been prepared by Broadridge Financial Solutions, the company's mailing agent. The affidavit states that the materials for this meeting were mailed and deposited with the U.S. Postal Service commencing on April 16, 2021. The notice of meeting and affidavit of distribution will be filed as part of the record of this meeting.

As established by the Board of Directors and as stated in the notice of this meeting, only stockholders of record of the company's common stock on April 5, 2021, may vote at this meeting. A list of stockholders as of the record date is in the room and available for inspection. At this time, I appoint [ Mr. Arnson ] to serve as Inspector of Election. [ Mr. Arnson ] has signed his oath of office, which will be filed as a part of the record of this meeting. I now request that he canvass the number of shares of common stock of the company represented at this meeting, either in person or by proxy to determine the presence of a quorum.

Ms. Chair, I have so far counted a majority of the outstanding shares of common stock of the company present at the meeting either in person or by proxy and eligible to vote at this meeting. I will continue to be available during the meeting to count additional shares of common stock if more stockholders or proxies come into the meeting.

Based on the report of the Inspector of Election, I declare that a quorum is present at this meeting, and as such, the annual meeting may proceed. At this time, we will proceed to vote on the matters properly before the stockholders of the company. Voting will commence after all proposals have been presented. The first order of business is the election of 4 directors to hold office until the 2022 Annual Meeting of Stockholders and until their respective successors are elected and qualified. The nominees for election are set forth in the proxy statement and recommended by the Board of Directors are: Tom Gayner, Debbie Kissire, Tom Might and Kris Miller. The second order of business is the proposal to ratify the appointment of PricewaterhouseCoopers as the independent registered public accounting firm of the company for the year ending December 31, 2021. The third and final order of business is the approval on a nonbinding advisory basis of the compensation of the company's named executive officers for 2020. The polls with respect to these matters are now open. [Voting]

As no stockholders wishing to vote are present, the polls with respect to these matters are now closed. At this time, I will ask for the Inspector of Election to report on all votes of all the stockholders of the company.

Ms. Chair, the Inspector of Election reports that each of the 4 nominated directors other than Mr. Gayner has received a majority of the votes cast. The Inspector of Election has also recorded the vote on the proposal for the ratification of the appointment of PricewaterhouseCoopers and the proposal to approve the compensation of the company's named executive officers for 2020 and has counted a majority of the votes cast voting in favor of these proposals.

As Chair of the meeting, I hereby adopt the preliminary report of the Inspector of Election as the official vote of the stockholders and declare that each of the 4 nominated directors, other than Mr. Gayner, has received a majority of the votes cast and that the other proposals have been approved. The final report of the Inspector of Elections will be filed as part of the record of this meeting. As there is no further business to come before this meeting, I declare that the 2021 Annual Meeting of Stockholders of the company adjourned. Thank you for attending today's meeting.