Claritev Corporation (CTEV) Earnings Call Transcript & Summary

Good morning, and welcome to the MultiPlan Corporation Annual Meeting of Stockholders. I'd now like to introduce the first presenter, Mr. Mark Tabak. Sir, please.

Let's start with Slide #3. Welcome to the Annual Meeting of Stockholders of MultiPlan. We appreciate you joining us today. I'm Mark Tabak, Chair of the Board. Through the unknown status of COVID-19 at the time we scheduled our annual meeting, we are holding our meeting in a virtual format again this year. Next slide, please. We'd now like to introduce the other directors of MultiPlan joining us today. Allen Thorpe, Independent Lead Director and Chair of the Nominating and Corporate Governance Committee; Anthony Colaluca, Chair of the Audit Committee; Hunter Philbrick, Chair of the Compensation Committee; Dale White, President and CEO; Glenn August, Richard Clarke, Paul Emery, Martin Harris, Julie Klapstein, Michael Klein and Bill Veghte. Also with us today is Jamal Douglas from PricewaterhouseCoopers, our independent auditors. Mr. Douglas is available to respond to appropriate questions during the general question-and-answer period. Jeffrey Doctoroff, Corporate Secretary of the company, is present as well and will act as secretary at today's meeting. Next slide, please. A few housekeeping items before we begin the meeting. Today's meeting will be recorded and available on our Investor Relations website at www.multiplan.com. The rules of this meeting can be found on the right side of the virtual meeting page. Stockholders who have logged in with their 16-digit control number may submit questions at any time during this meeting through the question box on the screen. During the annual meeting, questions from stockholders should pertain to the proposals being considered at that particular time. Stockholders wishing to ask other questions will be given an opportunity to do so following the adjournment of the business portion of today's meeting. Next slide. The 2022 Annual Meeting of Stockholders is now called to order. Lou Larsen has been appointed to act as inspector of election for the meeting. He has executed the oath of inspector of election and has presented such oath to the secretary. An affidavit of distribution executed by a representative of Broadridge, has been delivered to the company stating that he caused the notice of availability of proxy materials to be mailed beginning on March 15, 2022. A list of the stockholders of record of the company as of the close of the business on February 24, 2022, has been on file at the principal office of the company for at least 10 days. During this meeting, stockholders have logged in with -- those stockholders who have loved in with their 16-digit control number may view the list by clicking on the stockholder link on the bottom of your screen. Since notice of this annual meeting has been properly sent and I've been informed a quorum is present, I declare this meeting duly convened. We will now proceed with the business of the meeting. On April 26, 2022, the polls for the 3 proposals are now open. All MultiPlan stockholders entitled to vote on this -- for this meeting have the ability to do so online. Any stockholder who has not yet voted or wish to change their votes may do so by logging in with their 16-digit control number and clicking on the Vote Here button at the bottom of the right corner of the screen. Let me remind you that if you have already sent us your proxy and you do not wish to change your vote, you do not need to vote again today. As the votes are being completed, let me review the 3 items of business for consideration at this meeting. Next slide, please. First, to elect the 4 Class II nominees named in the proxy statement to the Board of Directors to serve until the Annual Meeting of Stockholders in 2025 or until their respective successors are duly elected and qualified in accordance with the company's bylaws. Glenn August, Richard Clarke, Julie Klapstein and Hunter Philbrick have been nominated to serve as Class II directors of the company. No other nominations were received prior to the deadline established in the company's bylaws. Therefore, no additional nominees may be made at this meeting, and I declare the nominations to be closed. Second, stockholders have been asked to vote to ratify PricewaterhouseCoopers as the independent registered public accounting firm for fiscal year 2022. Third and lastly, stockholders have been asked to provide an advisory vote to approve the compensation of our named executives or say-on-pay vote. No other matters have been brought before the meeting in accordance with the company's bylaws. Are there any questions regarding the appropriate -- are there any questions regarding the proposals before the meeting? The polls are about to close. So if you have not yet voted, please do so. Since everyone has had the opportunity to vote, it is now 9:05 and the polls are closed. Next slide, please. The inspector of election has delivered his preliminary report, and I'm pleased to share with you that each of the 4 nominees for Class II directors have been elected and both the proposals to ratify PricewaterhouseCoopers as the independent registered public accounting firm and the say-on-pay proposal have been approved. We will file the final report of the inspector of elections with the records of this meeting. We expect to report the results of the voting on Form 8-K to be filed with the SEC within 4 business days of this meeting. Next slide, please. As that concludes the business of the meeting, we will officially adjourn the meeting. I would now like to introduce Dale White, MultiPlan's President and CEO, to say a few words. Dale?

Mark, thank you. I wanted to personally thank all of our stockholders for their continued support of the company and to let you know that Jim Head, our Chief Financial Officer, and I look forward to sharing information with you when we hold our next earnings call in a few weeks on Tuesday May 10, 2022. We look forward to that call. With that, I now invite you to ask any questions that you may have regarding the company and its business. Operator?

[Operator Instructions]

There have been no questions submitted at this time. Mr. Tabak, I turn the call back over to you.

Thank you, Shawna. On behalf of the Board of Directors, I would like to thank all the stockholders for their interest in our company and for joining us today. Thank you very much.

Thank you. The Annual General Meeting of MultiPlan Corporation has now come to an end. Thank you for attending. You may now leave the virtual meeting.