CPI Card Group Inc. (PMTS) Earnings Call Transcript & Summary

Good morning and welcome, everyone, to this year's annual meeting. I'm Brad Seaman, CPI Card Group's non-Executive Chairman of the Board. Sarah Kilgore, the Chief Legal and Compliance Officer and Secretary of the company, will act as secretary of today's meeting. First, in light of the public health concerns surrounding the COVID-19 pandemic, we're conducting our annual meeting virtually for the first time in order to provide our stockholders a safe way to access the meeting. We hope that everyone is staying safe and healthy and our hearts go out to those affected by the pandemic. Now I'd like to take a moment to address some administrative matters. A majority of the company's shares of common stock are represented here today, and therefore, a quorum is present. The polls for voting on the agenda items will open shortly. You may view the agenda and rules and procedures for this meeting on the virtual meeting site under the Meeting Materials section. We ask that everyone please take a moment to review the rules and procedures. We appreciate your cooperation in helping us conduct an orderly meeting. I'd like to take this opportunity to introduce our other directors. Doug Pearce, who has served on the Board for a number of years and will be not standing for reelection this year; we'd like to note that we thank Doug for his service and appreciate his contributions. Rob Pearce, Nicholas Peters, Scott Scheirman, Marc Sheinbaum and Valerie Soranno Keating, I'd like to thank each director for their contributions to CPI. I'll turn the meeting now over to our Chief Legal and Compliance Officer, Sarah Kilgore, to conduct the voting.

Thank you, Brad. First, I'd like to mention that Ms. Chris Amrhein of American Election Services, LLC is in attendance today as our Inspector of Elections and will assist us in certifying the voting results for all proposals. I will now briefly discuss the procedures for this meeting. You may ask questions about the agenda items in the designated place on the virtual meeting site. April 3, 2020, was the record date for this Annual Meeting of Stockholders. There's a list of stockholders of record as of that date available on the virtual meeting site. Such list has also been available for inspection at our offices for the last 10 days. We will now start the voting process. If you have voted by proxy, you do not need to cast a ballot today unless you wish to change your vote. If you wish to change -- to vote by ballot instead of by proxy, please submit your votes on the virtual meeting site where it reads Click Here to Vote. You are entitled to 1 vote for each share of common stock registered in your name. We will tally all of the votes after discussion of the final voting item. The first item of business today is to elect 6 individuals to our Board of Directors who will serve until the 2021 Annual Meeting of Stockholders: Robert Pearce, Nicholas Peters, Scott Scheirman, Bradley Seaman, Marc Sheinbaum and Valerie Soranno Keating have been nominated. The Board recommends that you vote for the election of each nominee. If there are any questions or comments specifically relating to the election of directors, please submit them now. We have not received any questions. So we'll move on. The second item on the agenda is the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020. And I would like to introduce CPI's Engagement Partner at KPMG, Ms. Sue Heitmann, who is pleased to answer any appropriate questions stockholders may have. The Board recommends that you vote for the ratification of the appointment of KPMG as our independent registered public accounting firm. We've received no questions for Ms. Heitmann. So then we'll move on. All matters to be voted on have now been presented. Again, you're entitled to 1 vote for each share of common stock registered in your name. If you are voting by ballot, please make sure your selections -- make your selections and submit them now where indicated on the virtual meeting site. [Voting]

Thank you for your participation. The polls are now closed at 8:06 a.m. Mountain Time. Robert Pearce, Nicholas Peters, Scott Scheirman, Bradley Seaman, Marc Sheinbaum and Valerie Soranno Keating have all been elected directors of the company. The appointment of KPMG LLP to act as our independent registered public accounting firm for the fiscal year 2020 has been ratified. We will include a written report on the matters voted on today in a Form 10-K -- I'm sorry, Form 8-K to be filed with the Securities and Exchange Commission. I would now like to turn the meeting back to Brad.

Thank you, Sarah. I want to thank all of you for attending today's annual meeting and for the interest you've shown in our company. This meeting is now adjourned, and I thank you for participating.