Exponent, Inc. (EXPO) Earnings Call Transcript & Summary

Hello and welcome to the Exponent, Inc. Annual Meeting of Stockholders. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Dr. Paul Johnston, Chairman of the Board. Dr. Johnston, the floor is yours.

Good morning. I'm Paul Johnston, Exponent's, Chairman of the Board of Directors. I am pleased to welcome all of you to our annual meeting of stockholders. I thank you all for attending and participating. As you are aware, due to the public health and safety concerns related to COVID-19, we are conducting our meeting virtually. Before turning to the formal items of business, I would like to introduce our Board of Directors. Joining us by phone are Catherine Corrigan, Carol Lindstrom, Karen Richardson, John Shoven and Debra Zumwalt. You may have questions during the annual meeting. If you are a stockholder, you can submit your questions through the appropriate box in your meeting portal. We will address only questions that are pertinent to the proposals being considered today and that have not been addressed in the proxy statement for the annual meeting, which is available through the portal. We will answer questions during the voting period for the proposals. We may not be able to answer all questions. In addition, John Klanjac from KPMG LLP, our independent registered public accounting firm is participating in today's meeting by phone and will be available to answer questions. I've been given proof by affidavit that notice of this meeting has been duly given and that a proxy statement and proxy card have been furnished to all stockholders of record as of April 1, 2020. In addition, the Inspector of elections, Neil Handicar of Computershare Shareowner services, has signed his oath of office. The affidavit of mailing and oath of the inspector of elections will be filed with the minutes of this meeting. The Inspector of elections has advised me that we have present in person and by proxy a sufficient number of shares to constitute a quorum. So the meeting is duly constituted and called to order. We will vote by proxy ballot today. If you have turned in a proxy or voted by internet or telephone and do not intend to change your vote, then it is not necessary that you vote because we will count your proxy. Those of you who did not turn in a proxy or who wish to change your vote can do so now using the meeting portal. The first item on today's agenda is the election of directors. The following 6 directors are nominated by the Board of Directors for election to the Board and are named in the proxy statement dated April 15, 2020. Catherine Corrigan, Paul Johnston, Carol Lindstrom, Karen Richardson, John Shoven and Debra Zumwalt. No other nominations were received prior to the deadline for submission set forth in our bylaws. Therefore, no additional nominations may be made at this meeting. The second item on the agenda is the ratification of the selection of KPMG LLP as the independent auditor of the company for the current year. The third item on the agenda is the advisory vote on executive compensation for fiscal 2019. Are there any questions regarding the 3 proposals on the agenda?

Paul, we do not have any relevant questions today.

Thank you. We will now open the poll for voting on the 3 items on the agenda. [Voting]

The poll for voting on all 3 items on the agenda have closed. At this time, I would like Eric Anderson to report on the results of the voting.

Thanks, Paul. Based upon all the proxies and votes received, each of the directors named in the proxy statement has been elected by a majority of the shares duly cast in person or by proxy. The appointment of KPMG LLP has been ratified by a majority of the shares duly cast in person or by proxy, and the executive compensation for fiscal 2019 has been approved on an advisory basis by a majority of the shares duly cast in person or by proxy.

Thank you. The Inspector of elections will conduct a formal and final count of all votes on these matters. And the final results will be included in the minutes of this meeting and reported in the current report on Form 8-K to be filed with the Securities and Exchange Commission by June 3, 2020. This concludes the formal business of the meeting. I hereby declare this meeting adjourned.

This concludes the meeting. You may now disconnect.