EQT Corporation (EQT) Earnings Call Transcript & Summary

Hello, and welcome to the EQT Corporation's Special Meeting of Shareholders. Please note today's meeting is being recorded. It is now my pleasure to turn today's meeting over to David Khani, Chief Financial Officer of EQT Corporation. Mr. Khani, the floor is yours.

Good morning, ladies and gentlemen, and welcome to the Special Meeting of Shareholders of EQT Corporation. We are pleased that you could join us today. I am David Khani, Chief Financial Officer of the company, and the company's Board of Directors has designated me to preside over today's meeting. Due to the continuing public health threat posed by the COVID-19 pandemic and to safeguard the health and well-being of all meeting participants, this meeting is being held in a virtual-only format and being streamed as a live audio webcast. Before we begin, there are a few housekeeping items to cover. The list of rules that will govern this special meeting can be found in the agenda and procedures document, which is available to all participants in the file section on the left-hand side of your screen. I will now call this meeting to order. The business of this meeting will be taken up in the order set forth in the agenda. As a formality for the record, we need to confirm that we have a meeting duly called and organized and that a quorum is present. The corporate Secretary, Nicole King Yohe, has presented a copy of the Notice of Meeting and the affidavit showing that each shareholder of record of this company received by mail this notice, the proxy statement and the proxy card as required by law. Based on the preliminary report of voting results provided by our proxy solicitor, we will proceed as if a quorum is present for the transaction of business at this meeting, subject to the final certification by the judges of election. The Board of Directors has appointed Ashley Graziano, Allyson Graham and [ Monique Hughes ] as the judges of election. Each is in attendance at the meeting today. The judges of election have executed affidavit under oath with respect to their duties and the affidavit has been filed with a record of this meeting. Let's now proceed to the matters to be voted on today. Two matters were presented in the proxy statement for shareholder consideration, each of which was proposed by the Board of Directors. The first item on the agenda, item 1, is the approval of the amendment to the restated articles of incorporation of EQT Corporation to increase the authorized number of shares of common stock from 320 million shares to 640 million shares. I will refer to this as the amended amendment proposal. The Board recommends a vote for this proposal. The second item in the agenda, item 2, is approval of one or more adjournments of this special meeting, if necessary, to permit the solicitation of additional votes if there are not sufficient votes cast at this meeting to approve the amendment proposal. As described in the company's proxy statement, item 2 will only be presented for vote at this meeting if there were not sufficient votes cast to approve item 1. We will now proceed with the voting. It is 09:03 am, the polls are now open. I would like to now call for a vote on item 1, the amendment proposal. Based on the preliminary report of voting results provided by our proxy solicitor, item 2 will not be voted on today's meeting. If there are any shareholders present who have not submitted their proxies and wish to vote at this time, please do so by clicking the link provided online. If you've voted before the meeting via phone, Internet or mail, there is no need to cast your vote again today. As a reminder, only individuals that joined today's meeting as an authenticated shareholder will have the ability to cast their vote at this time. We will now pause for a brief moment to allow shareholders desiring to submit their votes now to do so. [Voting]

It is 09:05, and I declare that the polls to be closed. I now would like to receive the preliminary report of the judges of election who have submitted their report to the corporate Secretary.

Mr. Khani, item 1, approval of the proposal to amend the restated articles of incorporation to increase the authorized number of shares of common stock from 320 million shares to 640 million shares, received a majority of the votes cast. Based on the preliminary reported voting results provided by our proxy solicitor, there were sufficient votes cast to approve the proposal to increase the number of authorized shares and therefore, item 2 was not presented or voted on at today's meeting.

Thank you. I hereby declare that the amendment to the restated articles of incorporation of EQT Corporation to increase the authorized number of shares of common stock to 640 million shares has been approved. With the business portion of this meeting completed, as chairman of this meeting, I declare the special meeting of shareholders to be officially concluded. Thank you to everyone that has joined us for today's meeting.

This concludes the meeting. You may now disconnect.