Ekso Bionics Holdings, Inc. (EKSO) Earnings Call Transcript & Summary

Good morning. It is now 8:30 a.m. Pacific Standard Time, and I would like to call the meeting to order. Welcome to the Annual Meeting of Stockholders of Ekso Bionics Holdings, Inc. My name is Jack Peurach, and I'm the President and Chief Executive Officer and a Director of the company. We are excited to be hosting the company's 2020 annual meeting virtually, with our stockholders attending via our web meeting portal. Through the online platform, we believe that we are able to increase stockholder participation and safety and reach a greater number of our stockholders without needing to meet in person especially in light of the ongoing coronavirus pandemic. Hopefully, in the future, we will be able to meet in person, but today, it will be virtual. Before we start, I would like to introduce the company's other officers who are present virtually today. Steven Sherman, our Executive Chairman and a Director of the company; Jack Glenn is also with us virtually today as well as Ronda Wallan, a new director nominee for election at this meeting. Mr. Glenn has taken the oath of inspector of elections and will be acting as the inspector of elections. The Board of Directors has fixed the close of business on November 5, 2020, as the record date for this meeting. An affidavit from Broadridge Financial Solutions, who also act as the company's mailing agent, attest to the mailing of the notice of Internet availability of proxy materials for the meeting. This affidavit is on file with the inspector of elections, and I ask that a copy also be kept with the minutes of this meeting. The notice requirements for the annual meeting of stockholders have been satisfied. A list of stockholders who hold their shares in direct registration form and who are entitled to vote at the meeting is kept by the company and is open for examination during the time of the meeting by any stockholder present at the meeting. I have been informed by the inspector of elections that the holders of a majority of the outstanding shares entitled to vote are present virtually or by proxy, so a quorum is present. We will now proceed with the formal business of today's meeting. Once we have completed the formal portion of this meeting, we will be formally adjourned, and we will then answer any questions you may have. Please hold your questions until that Q&A period. We have 4 items of business at this morning's meeting, each of which was explained in detail in the proxy statement for the meeting dated November 12, 2018. If you have already submitted a proxy, your shares will be voted in the manner provided on your proxy card, and those votes will be included in our tabulation of votes. There's no need for you to vote again by ballot through the virtual meeting platform unless you wish to change your vote. If you have not yet submitted a proxy and wish to vote now through the virtual meeting platform or if you submitted a proxy but wish to change your vote at this time, please vote your shares in accordance with the instructions shown on the platform. I will now present the matters to be voted on. One, the election of 7 persons to our Board of Directors namely Steven Sherman Durack, Dr. Ted Wang, Dr. Charles Li, Stanley Stern, Maryanne Cloyd and Rhonda Wallan to serve until the annual meeting of stockholders to be held in 2021 and until their respective successes are elected and qualified or until their earlier death, resignation or removal. Number two, to increase the total number of shares authorized for issues pursuant to the awards granted under our amended and restated 2014 equity incentive plan from 1,174,286 shares to 1,974,286 shares. Number three, to approve in an advisory nonbinding vote, the compensation of our named executive officers as disclosed in this proxy statement. And four, to ratify the appointment of OUM & Company, LLP as the company's independent auditors for the year ending December 31, 2020. This concludes the discussion of the proposals. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in their proxies or voted via telephone or online portal and do not want to change their vote, do not need to take any further action. It is 08:36 a.m. on December 29, 2020. The polls are now open for items to be considered at this morning's meeting. I will now pause for 2 minutes to allow voting. [Voting]

There is 1 minute remaining in voting. Okay. It is 08:39 a.m. on December 29, 2020. The polls are now closed I ask the inspector of elections to tabulate the votes cast at this meeting. Based on the stockholder votes cast at this meeting by the proxy and by electronic ballot, the preliminary report of the inspector of elections indicates that each proposal set forth in the proxy statement for the meeting dated November 12, 2020, has been approved by at least the minimum number of votes required for the passage of such proposals as set forth in the proxy statement. The final report of the inspector of elections will be filed with the minutes of this meeting. I've been informed that the Board of Directors has no other business to bring before this meeting. No further business has been properly raised by stockholders to come before this meeting. And so with all business for the meeting concluded, the meeting is now adjourned. Thank you all for your attendance today. I will now address any questions or comments you may have submitted during the meeting. It appears there are no further questions or comments. In closing, I would like to thank all of you for attending today's meeting and for your continued interest in Ekso Bionics. These are exciting times for our company, and I look forward to providing you with continued updates on our progress. Have a very happy new year. Thank you.

This now concludes the meeting. Thank you for joining and have a pleasant day. Goodbye.