CS Disco, Inc. (LAW) Earnings Call Transcript & Summary

Good morning. My name is Scott Hill, and I am the Chairperson of the CS Disco Board of Directors. I'm very happy to welcome you to the CS Disco 2024 Annual Stockholders Meeting. The meeting will now officially come to order. The time is now 9:01 a.m. Central Time on Thursday, June 13, and the polls are now open for voting on all matters to be presented. As you know, we're hosting today's meeting solely in virtual format through Media Communications' virtual meeting platform. This meeting is being recorded and will be available via webcast on our Investor Relations website for 1 year after the date of this annual meeting. Before we proceed with the formal business of the meeting, I'd like to introduce you to the members of the Board and the executive team who are with us today. In addition to myself, the other members of the Board with us today are Tyson Baber, Susan Blount, Colette Pierce Burnette, Eric Friedrichsen, Bob Goodman, James Offerdahl and Krishna Srinivasan. The members of our senior leadership team with us today are, again, Eric Friedrichsen, who serves as our President and CEO as well as a member of the Board; Michael Lafair, Executive Vice President, Chief Financial Officer, and who will be serving as Secretary of the meeting; Melanie Antoon, Executive Vice President and Chief Customer Officer; Jamie Caramanica, Senior Vice President, Engineering; Tom Furr, Senior Vice President and Chief Marketing Officer; Karen Herkes, Executive Vice President and Chief Human Resources Officer; Andrea Popovecz, Senior Vice President, Global Sales; Kevin Smith, Executive Vice President and Chief Product Officer. I would also like to introduce Boris Oglesby and Krista McNaughton of Ernst & Young, the company's independent registered public accounting firm, who are also in attendance virtually and available to respond to appropriate questions as needed. We will now proceed with the formal business of the meeting in the order set forth in the notice of annual meeting and proxy statement. We will first present the 2 proposals submitted for approval by our Board. We will take questions related to the proposals after all of the proposals have been presented, after which we will announce the preliminary results of the voting. As I mentioned earlier, the polls are open for voting on all matters to be presented. Each share of common stock is entitled to 1 vote. After I describe each item to be voted on, we will close the poll. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you have already submitted your vote by proxy and 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 online now in order for it to be counted. If you have not voted, I encourage you to vote online now. You should now all have access to the rules of conduct for this meeting. In order to conduct an orderly meeting, we ask that you follow these rules. Stockholders of record and their proxy holders may submit questions or comments electronically. We will try to answer questions submitted that are germane to the proposals and/or this meeting as and if we have time. Kristen Stanley, the company's Director of Accounting, will screen incoming questions. And during the Q&A portion of the meeting, we'll read your main questions out loud before I or another member of our team responds. Please submit your questions now to make sure they are received in a timely fashion for our review and response. Will the Secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholders' list.

I have at this meeting a complete list of the holders of record of the company's common stock on April 15, 2024, the record date of this meeting. I also have an affidavit certifying that on May 3, 2024, a Notice of Annual Meeting of Stockholders of the company was deposited in the United States mail to all stockholders of record at the close of business on April 15, 2024.

At this time, I am appointing Christian Lambert of Media Communications to act as Inspector of Election at this meeting. Christian has taken and subscribed the customary oath of office to execute his duties with strict impartiality. We will file this oath with the record of the meeting. His function is to decide upon the qualifications of voters, accept their votes and when balloting on all matters is completed, to tally the final votes. Will the Secretary please report at this time with respect to the existence of a quorum?

I have been informed by the Inspector of Election that proxies have been received for 57,089,846 of the 60,656,645 shares of common stock outstanding on the record date, which represents a quorum for the meeting today.

We will now proceed with the formal business of this meeting. After all of the proposals have been described, we will answer any questions related to the proposals submitted online. As a reminder, we ask that any comments or questions during this portion of the meeting pertain only to these proposals. Please submit any questions as soon as possible for our review. There are 2 proposals to be considered by the stockholders at this meeting. The first item of business is the election of 3 Class III directors to serve until the company's 2027 Annual Meeting. The nominees for Class III Director are: Susan L. Blount, Scott Hill; and Krishna Srinivasan. The second item of business today is the ratification of the selection by the Audit Committee of the Board of Directors of Ernst & Young LLP as the independent registered public accounting firm of the company for the fiscal year ending December 31, 2024. That was the final proposal for today's meeting. We will now review if there are any questions submitted about the proposals before we close the polls. As a reminder, we will only review and answer questions at this time that pertain to the proposals. Please note that our discussion today may include forward-looking statements, and our actual results may differ materially from those discussed here. Additional information concerning risks that could cause such a difference can be found in our most recently filed quarterly report on Form 10-Q. Kristen, are there any questions?

There are no questions at this time.

There are no questions. The time is now 9:08 a.m. Central Time, and the polls are now closed for voting. May we have the results of the voting.

The report of the Inspector of Election covering the proposals presented at this meeting is as follows: the proposal to elect Susan L. Blount, Scott Hill and Krishna Srinivasan as Class III directors of the company is carried. The selection of Ernst & Young as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024, is ratified.

We expect to report our preliminary voting results or if available to us on a timely basis, our final voting results on a current report on Form 8-K to be filed with the SEC within 4 business days after the end of this meeting. If not earlier 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 now concludes the formal portion of today's meeting, and the annual meeting is now adjourned. Thank you again for your attendance at today's meeting and for your continued support of CS Disco.