IES Holdings, Inc. (IESC) Earnings Call Transcript & Summary

Good morning. I'd like to call to order the 2020 annual meeting of the stockholders of IES Holdings, Inc. I'm Gary Matthews, Director and Chief Executive Officer of IES, and thank you for attending our meeting. As our first order of business, I'd like to introduce the other members of our Board, who have joined us on this call. Our Chairman, Jeff Gendell; Todd Cleveland, Joseph Dowling III, David Gendell, Joseph Koshkin and Donald Luke. I'd also like to introduce Tracy McLauchlin, our Senior Vice President and Chief Financial Officer and Treasurer; our Chief Strategy Officer, Brendan Brier; and our General Counsel and Corporate Secretary, Mary Newman, who is also acting as Secretary of the meeting. Mary has with her the complete listing of stockholders of record as of December 23, 2019, the record date for this meeting. And finally, I'd like to introduce [ Mark Quask ] and Akin Omotosho of the accounting firm of Ernst & Young, our independent accountants; and Jennifer Flynn of Broadridge Financial Solutions, who has been appointed inspector of the election of this meeting and has signed the oath of office, which will become part of the records of the meeting. Broadridge has furnished a certificate that holders of more than a majority of the shares of common stock entitled to vote are present in person or by proxy. And we, therefore, have a quorum. That certificate will be placed in the records. As you all know, this is a virtual-only stockholders meeting. If you were a stockholder as of the record date, you may vote during the meeting today by online ballot. It's now 10:02 Central Time on February 19, 2020, and the polls for each matter to be voted on at this meeting are now open. The first item of business is to vote upon each of our director nominees to serve on the company's board until the Annual Stockholders Meeting to be held in 2021 and until their successors have been elected and qualified. Second is to ratify the appointment by the Audit Committee of the Board of Directors of Ernst & Young as the company's independent public accountants for the fiscal year ending September 30, 2020. And third, is to approve by advisory vote the compensation of the company's named executive officers. We'll now proceed to vote on these proposals. Each common share is entitled to 1 vote on the Directors noted above as well as on the other proposals I just mentioned. It's now 10:04 Central Time, and I declare the polls open, and ask the inspector of election to canvas the vote. I'm sure that most of you have already signed and submitted a proxy. If you have voted online or by telephone, or have submitted a signed proxy in advance of the meeting, your vote on the matters presented here will be cast by proxy committee in accordance with your instructions, and you need not vote now. We'll give a moment or 2 for people to vote if they choose to. [Voting]

Okay. It is now 10:05 Central Time. And I declare the polls closed. The inspector has tabulated the votes, and here is a preliminary report on the voting results. Number one. The proposals to elect Misters Cleveland, Dowling, David Gendell, Jeffrey Gendell, Koshkin, Luke and Matthews to the Board of Directors each received more than a majority of the total common shares voted at the meeting. I, therefore, declare that these individuals have been duly elected to the Board. Number two. The proposal to ratify Ernst & Young as the company's independent public accountants for the fiscal year 2020, received more than a majority of the total shares voted at the meeting. I, therefore, declare this proposal adopted. And number three. The proposal to approve by advisory vote, the compensation of the company's named executive officers, received more than a majority of the total shares voted at the meeting. I, therefore, declare this proposal adopted. And personally, thank you. The final results of the voting, including any ballots or proxies recorded during this meeting, will be set forth in the final report of the inspector of election. I ask Mary Newman to submit the final report and to file it with the records of the meeting. The final results will also be included in the final report on the Form 8-K to be filed with the SEC. As there is no further business to come before the meeting, I declare this meeting is now adjourned, and thank you.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.