Covenant Logistics Group, Inc. (CVLG) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen, and welcome to the Covenant Logistics Group, Inc. Annual Meeting of Stockholders. The first thing I would like to do is identify those that are on the call. So can the person that's dialed in from number +63-2-851-1520 identify the name of the person on the call? You may be muted, caller. Okay. So just to confirm, can the person that has dialed in from area code [ 6-2-3 ] identify and please -- identify themselves and your name please? Okay. I'm going to move down. How about the caller from area code 9-1-4? Okay. The caller from area code 5-1-0? Can you please state your name, the caller from area code 5-1-0? Okay. How about the caller from area code 8-6-4, can you please state your name?

This is Joseph Heatherly with Grant Thornton.

Okay. Thank you, Joseph. And how about the caller from area code 6-4-6? And finally, is there a caller with the -- there's -- okay, so one more caller on Tier 2. So is there any other participants on from Grant Thornton besides Joseph Heatherly?

[indiscernible] there would be no others.

Okay. Thank you, Joseph. And is there -- are there any other participants on the call? If so, please provide me your name, so we can include it in the minutes of the meeting.

Hi. [ Amber Ziegler ] here.

Okay. Thank you, [ Amber ]. Anyone else? Okay. So I would now like to turn the call over to David Parker, Chairman and Chief Executive Officer of the company. Go ahead, David.

Thank you. Good morning. Will the meeting please come to order? I would like to welcome all of you to the 2021 Annual Meeting of Stockholders of Covenant Logistics Group, Inc. I am David Parker, Chairman and CEO, and I will be presiding at this meeting. If there are -- if there's any stockholders entitled to vote who have not yet voted by Internet or telephone or delivered their proxy or ballot to the inspector of elections, please dial (402) 429-3224 now to place your vote. I would like to introduce several guests who are participating today: Bob Bosworth, Michael Kramer, Brad Moline, Rachel Parker-Hatchett, Herb Schmidt and Miller Welborn, each a current director of the company. Tripp Grant, our inspector of election; and a representative of Grant Thornton LLP, the company's independent registered public accounting firm, is also participating. Mr. Grant has executed and delivered an affidavit of mailing establishing that notice of this meeting was duly given and an oath of office. A copy of the notice of the meeting, proxy statement, the affidavit of mailing and the oath of office will be included with the minutes of this meeting. Our stockholders of record at the close of business on March 30, 2021, are entitled to vote at this meeting. Tripp, will you please your report of the voting power present in person or by proxy at the meeting so that we can determine whether a quorum is present?

Yes. I have confirmed that there are present at this meeting in person or by proxy sufficient votes to constitute a quorum.

Thank you, Tripp. I declare this meeting to be duly convened for the purposes of transacting such business as may properly come before it. I now declare the polls open. There being no further ballots remaining to be submitted, I declare that the polls are closed and direct the inspector of election to describe the matters to be voted on at today's meeting and provide the votes -- vote results.

Mr. Chairman, on the motion for the election of directors, each of the Board's 7 nominees has been elected by plurality of the votes cast. On the motion of approval by the stockholders of a resolution approving in an advisory and nonbinding nature the compensation of the company's named executive officers as described in the proxy, the majority of votes represented and entitled to vote at the meeting were in favor of the motion. Grant Thornton LLP has been ratified as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021, by a majority of the votes represented and entitled to vote at the meeting. Voting results will be included in the Form 8-K we will file with the SEC within the next 4 business days.

Thank you. We have concluded the business part of our annual meeting, which is officially adjourned.

Thank you, everybody, for participating in the meeting.