Green Plains Inc. (GPRE) Earnings Call Transcript & Summary

Present here is a certified list of the holders of the company's common stock as of the close of business, March 15, 2023, the date fixed by the Board of Directors for determining the shareholders entitled to notice and voting at this meeting. Also presented are copies of the meeting notice, proxy statement, proxy, annual report and affidavit from the company's transfer agent regarding the mailing thereof.

We will not read the minutes of the 2022 Annual Meeting, but you may request a copy of those minutes from the Secretary. I hereby appoint Mr. Phil Boggs to act as Inspector of Election at this meeting. Before we get started on our official business items, I'd like to take a moment to express my sincere gratitude for the honor of serving as this Board's Chairman. As you know, I am retiring after this meeting, and I look back on my time here with great fondness. I've met great friends, great business acquaintances and it's been a great life experience. So thanks to Green Plains and everybody, for all of that. It's been fun. So now on to our 4 items of official business, which are described in the proxy statement. The first order of business is the election of 3 directors. Shareholders wishing to recommend a prospective Board nominee for the nominating Governance Committee's consideration can do so by writing to the Corporate Secretary. The company did not receive any shareholder recommendations for consideration prior to the 2023 Annual Meeting of Shareholders. As such, the nominees included in the proxy statement for election of directors, Jim Anderson, Ejnar Knudsen and Kimberly Wagner are nominated. According to the company's bylaws, directors are elected by a majority of votes cast at a duly called meeting. Therefore, the 3 nominees receiving a majority of the votes at today's meeting will be elected as directors. The second order of formal business is the ratification of the selection of the company's auditors. The Board of Directors and the Audit Committee believe the continued retention of KPMG LLP to serve as the company's independent registered public accounting firm is in the best interest of our shareholders. Accordingly, the Audit Committee has recommended that KPMG serve as the company's independent auditors for fiscal year 2023. The ratification of the selection of KPMG as the company's independent auditors for 2023 fiscal year must be approved by a majority. The third order of formal business is the advisory vote to approve the company's executive compensation as described in the Compensation Discussion and Analysis section and related disclosures in the proxy statement. This vote is not intended to address any specific item of compensation, but rather the overall compensation of the company's named executive officers as well as the compensation philosophy, policies and practices. The final order of formal business is the advisory vote on the frequency of holding an advisory vote on executive compensation. We will now proceed with voting. As no other business is scheduled for shareholders, I declare the polls open and direct that votes by shareholders be taken by electronic ballot. Each holder of a common stock is entitled to 1 vote for each share held at the close of business on the record date. Shareholders who have previously provided their proxies do not need to vote unless they want to revoke their proxy and vote by electronic ballot at this meeting. If you have not voted or wish to change your vote, you may do so now by clicking on the link provided online. If you have already voted and do not want to change your vote, then there is no need to take any further action. We will pause for a moment while votes are tallied. [Voting]

All shareholders present online or by proxy have had the opportunity to vote. The online voting will now be closed. Based on the preliminary review of votes cast, the inspector has informed me that all nominees for the Board of Directors have been elected, the appointment of KPMG as the company's auditors has been ratified, the company's executive compensation proposal has been approved and 1 year was recommended for the frequency of holding an advisory vote on executive compensation. The Inspector of Election will furnish the Secretary a written report of the final vote count of all matters voted on today, which shall be included as part of the minutes of the meeting. We will now close the official business portion of the meeting. Thank you very much for joining us online for our Annual Shareholder Meeting. I would now like to invite our President and Chief Executive Officer, Todd Becker, to join me in answering any questions you may have. [Operator Instructions] Are there any questions? Seeing no questions, thank you for joining us today at the Green Plains annual shareholder meeting. This now concludes our webcast.

This concludes the meeting. You may now disconnect.