EchoStar Corporation (SATS) Earnings Call Transcript & Summary

Good day, and welcome to the EchoStar Corporation annual meeting of shareholders. I would now like to turn the conference over to Dean Manson, General Counsel and Secretary for the corporation. Please go ahead.

Welcome, ladies and gentlemen, to EchoStar Corporation's 2020 Virtual Shareholder Meeting. I am Dean Manson, the Secretary for EchoStar Corporation. It's now 11:30 a.m. Mountain Time. So let's get started. I'll turn the meeting over to Charlie Ergen, our Chairman.

Good morning, and thank you for joining our virtual meeting of shareholders. I'm Charlie Ergen, Chairman of EchoStar Corporation. I'll be serving as Chairman for today's meeting. The polls are open for voting. If you have a question, you may submit it via the meeting portal. All of our current members of the Board are in attendance virtually at today's meeting. I'll also present Chris McCurdy, a representative of KPMG, our independent registered public accounting firm. I'll now ask Mr. Manson as secretary for the meeting to present proof that the notice of meeting has been properly given.

Thank you, Mr. Chairman. I am pleased to confirm that notice of the meeting has been duly given and that a proxy statement was duly sent to all of the company's shareholders of record as of March 3, 2020, and additional proxy materials were filed with the Securities and Exchange Commission.

Thank you, Mr. Secretary. Michael D. has been appointed the inspector of elections for this meeting. The inspector has filed his oath of office with the company, along with the certificate stating that the holders of a quorum of the voting securities of the company are present virtually or are represented by proxy at this meeting. There are 3 proposals to be voted on and set forth in our proxy statement. The election of 8 directors, the ratification of the appointment of KPMG as the independent registered public accounting firm for the company for the fiscal year ending December 31, 2020, and the approval on a nonbinding advisory basis of the compensation of our named executive officers. We'll now pause for a few seconds before closing the polls to allow any final votes through the electronic portal. [Voting]

The polls are now closed, and the inspector of elections has completed his preliminary tabulation. Mr. Secretary, may I have your report?

Mr. Chairman, the preliminary tabulation of the inspector is as follows: based on the votes cast in person and by proxy, all 3 proposals have received more than 96% of the total required vote and are therefore passed.

There being no further business, the formal portion of this meeting is hereby adjourned. We will now entertain questions from shareholders about the items voted upon by the shareholders at this meeting. As usual, updates regarding EchoStar's business and financial performance will be addressed on our earnings call which will occur in about a week or so in early May, and it'll be announced soon. So that's the proper place for kind of business-related questions. But certainly, if you have any questions about the items voted on, we'll certainly take those.

Thank you. Mr. Chairman, I'm watching the portal right now to see if there are any questions that are within that limited scope. And we see no such questions.

There being no further questions, we look forward to taking questions on our quarterly call coming up about our business and -- during these interesting times, and -- but that concludes our proceedings today. Thank you, everyone, for participating in today's meeting and for your continued support of EchoStar. Operator, you may now end the call.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect your lines at this time, and have a great day.