Identiv, Inc. (INVE) Earnings Call Transcript & Summary

All right. Good morning, everyone, and welcome to the 2022 Virtual Annual Meeting of Stockholders of Identiv, Inc. My name is Steve Humphreys, and I'm the Chief Executive Officer of Identiv, Inc., and I will act as Chairman of this Annual Meeting of Stockholders. At this time, I'd like to call the meeting to order. We're excited to be hosting our virtual meeting, which lets us be more inclusive and reach more of our stockholders. This meeting is being held pursuant to the notice of annual meeting mailed to all the stockholders of the company. And joining us by phone, I see our directors, Jim Ousley, Robin Braun, Nina Shapiro and Gary Kremen. Also joining me today is Justin Scarpulla, our Chief Financial Officer and Corporate Secretary; Ed Kirnbauer, our Global Corporate Controller; Rich Bellucci of BPM LLP, our independent registered public accounting firm; and Stan Pierson of Pillsbury Winthrop Shaw Pittman, our Corporate Counsel. Mr. Scarpulla will act as Secretary meeting. Ed Kirnbauer has been appointed and previously sworn in as inspector of elections for the meeting. And I'm going to ask Mr. Kirnbauer, Inspector of Elections, for his report on the shares present at this meeting.

Mr. Chairman, a list of stockholders representing 22,321,051 shares of the company's common stock outstanding as of the close of business on April 1, 2022, which was the record date at this meeting, will be incorporated into the minutes of this meeting. Only stockholders as of the record date are entitled to vote at this meeting. We have received the affidavit of mailing of the notice of annual meeting, which will be filed with the minutes of the annual meeting. I'm pleased to report that immediately prior to the commencement of the meeting, the holders of 16,211,410 shares of common stock, representing approximately 72.6% of all shares entitled to vote at this annual meeting are represented in person or by proxy at this annual meeting. As a result, a quorum is present and the meeting is authorized to conduct business.

All right. Thank you. At this time, we'll consider the items of business on the agenda. The matters to be considered at today's meeting, which are further described in the proxy statement dated April 13, 2022, will be: Number one, to elect 2 Class II nominees to serve for a 3-year term ending at the Annual Meeting of Stockholders in 2025 or until their successors have been duly elected and qualified or until they resign or are removed, and the nominees are Robin Braun and Jim Ousley. The nominees for Class II directors receiving the highest number of votes will be elected as Class 2 directors. Number two, to ratify the appointment of BPM LLP, an independent registered public accounting firm as the independent registered public accounting firm of the company for the fiscal year ending December 31, 2022. The affirmative vote of the holders of the majority of the votes cast on the proposal in person or by proxy is required to approve this proposal. Number three, to approve a nonbinding advisory resolution regarding the compensation of the company's named executive officers as described in the proxy statement. The affirmative vote of the holders of a majority of the votes cast on the proposal in person or by proxy is required to approve this proposal. Each of these proposals is described in detail in the proxy statement. If any stockholder would like a question -- like to ask a question regarding any of the proposals, please submit your comments through the web portal. It's now -- let's see. It is now 8:05 a.m. Pacific Daylight Time, and the polls are now open. 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 proxies or voted via telephone or Internet and do not want to change their vote do not need to take any further action. [Voting]

So Sophie, if we could flip over to the question panel for just a second, see if there are any open questions here as we are taking the voting. We're not seeing any open questions. Thank you. Okay. It is now 8:06 a.m. Pacific Daylight Time. Now that everyone's had the opportunity to vote, I declare the polls for the 2022 Annual Meeting of Stockholders closed.

I am pleased to report on the results of this meeting, Steve. Number one, the nominated Class II directors, which have been elected to hold office until the expiration of the term of the Class II Directors or until a successor is duly elected and qualified. Number two, the proposal to ratify the appointment of BPM LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2022, has been approved. And Number three, the proposal to approve a nonbinding advisory resolution regarding the compensation of the company's named Executive Officers has been approved.

All right. Thank you, Ed. This concludes the formal agenda of the 2022 Annual Meeting of Stockholders of Identiv, Inc. I'd like to thank you for your participation in our annual meeting. And the meeting is now adjourned, and thank you all for your attendance in that. We do want to pause, though, to see if there are any questions that anybody might have. And I'll check the questions tab here, if we could, one more time, Sophie, just to check, and we're not seeing any questions. So I'm not seeing any active questions. In that case, we will adjourn the annual meeting, and thank you all very much for attending and for your participation and support of the company. Have a good day.

This concludes today's conference call. You may now disconnect.