Golub Capital BDC, Inc. (GBDC) Earnings Call Transcript & Summary

Welcome to the 2021 Annual Meeting for Golub Capital BDC, Inc. Our host for today's call is David Golub. [Operator Instructions] I will now turn the call over to your host, Mr. Golub, you may begin, sir.

Good morning. I'm David Golub. I'm the Chief Executive Officer of Golub Capital BDC. As presiding officer, I hereby call to order and welcome you to the 2021 Annual Meeting of Stockholders of Golub Capital BDC, Inc. On behalf of management, I'd like to thank those stockholders who are participating today for your virtual attendance and interest. I'd also like to take this opportunity to introduce you to members of the Board of Directors who are participating telephonically at this meeting. They are: Lawrence Golub, who's Chairman of the company's Board of Directors and CEO of Golub Capital; John Baily, who's previously President of Swiss Re Capital Partners; Ken Bernstein, who's Chief Executive Officer of Acadia Realty Trust; Billy Webster, who is retired co-founder and CEO of Advance America and Advance Cash Centers; and Anita Rosenberg, who's previously a partner at Harris Alternatives. Each of our directors is also a Director of Golub Capital BDC 3, Inc. That's a Maryland corporation that's elected to be regulated as a business development company and is currently private. Also present via telephone today are the company's Chief Financial Officer and Treasurer, Ross Teune; the company's Chief Compliance Officer and Corporate Secretary, Josh Levinson; Greg Robbins, Senior Managing Director at Golub Capital and an officer of the company; Jon Simmons, Managing Director at Golub Capital and an officer of the company; and Matt Benton, Managing Director at Golub Capital and an officer of the company. Each of our officers serves in a similar capacity at Golub Capital BDC 3. The directors and officers of the company in attendance will be available today to talk with you about the financial performance of the company in the past year and to answer questions that you may have. In addition, present today is an audit partner from Ernst & Young, the company's independent audit firm the fiscal year ended September 30. Tom Johansen is available to respond to any questions you may have regarding Ernst & Young's engagement by the company. The company has appointed Chris Woods with Broadridge Financial Solutions to act as the inspector of election. A copy of the inspector's oath of office will be filed with and made a part of the minutes of this meeting. We'll now begin the meeting. A list of the stockholders of record who are entitled to vote at this meeting has been prepared in accordance with Delaware corporate law and the company's bylaws and will be maintained with the official records of the company. A copy of the list of stockholders of record who are entitled to vote at this meeting is available for inspection through the web portal. Copies of the notice of the annual meeting and proxy statement and the company's 2020 annual report on Form 10-K are also available on our website under the Investor Resources tab. An affidavit of distribution to stockholders of record as of December 14 has also been prepared and will be filed with and made part of the minutes of this meeting. For purposes of voting at this meeting, the Board of Directors of the company has solicited proxies and the shares owned by these stockholders may be voted and represented at this meeting pursuant to these proxies. Stockholders may submit any questions they have through the Ask a Question field on the web portal, and the questions will be addressed at the appropriate time during the meeting. Mr. Teune has informed me that we have a quorum present today for the conduct of business. I now declare this meeting to be convened, properly organized and competent to transact business. I'll now open the floor to the consideration of the 2 items of business described in the notice of the annual meeting. The first order of business on our agenda for a stockholder vote is the election of 2 Class II directors to each hold office, subject to the provisions of the bylaws, for a 3-year term and until their successor has been duly collected and qualified. The persons nominated by the company's Nominating and Corporate Governance Committee and the company's Board of Directors are John T. Baily and Kenneth F. Bernstein. The second order of business on our agenda is the proposal to ratify the selection of Ernst & Young to serve as the company's independent registered public accounting firm for the fiscal year ended September 30. If there are any questions from stockholders on the 2 proposals, which were set forth in the company's proxy statement, please submit your question now through the Ask a Question field on the web portal.

David, this is Ross. We have not received any questions at this time.

Great. So we'll now proceed to voting. Those of you who've not submitted a proxy may vote, and those of you who have submitted a proxy but would like to change your vote may do so now. Information regarding each of the proposals provided in the proxy statement that was accessible on the Internet or by request and accordingly, I'll dispense with any preliminary explanation. The poll has been opened since the beginning of the meeting, but I'll pause for a moment to allow for any stockholders who have not yet cast their ballot or would like to change their vote to do so. [Voting]