InfuSystem Holdings, Inc. (INFU) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of InfuSystem Holdings, Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Jeanie Latz, Corporate Secretary, for the meeting. Ms. Latz, the floor is yours.

Good morning. Welcome to InfuSystem's 2021 Annual Meeting of Stockholders, which is being held virtually. We are pleased that you have joined us this morning. I am Jeanie Latz and will act as Secretary for the meeting today. With me sharing the microphone is Scott Shuda, Chairman of the Board; and Rich DiIorio, Chief Executive Officer. Also in attendance are the other members of the Board of Directors; our senior management team; and representatives of BDO USA, LLP, the company's independent auditors. All these individuals will be available to answer your questions. [Operator Instructions] Mr. Addam Chupa will help monitor the questions as submitted. Please provide your questions, again, at any time. There are 2 sources of information to which I would like to call your attention. The first is the rules of conduct which will govern our meeting. The other is the agenda for the meeting. Both are in the lower left-hand corner of your screen. I will now turn the meeting over to the Chairman of the Board, who will call the meeting to order.

Good morning, everyone. Will the meeting please come to order? I would like to thank all of you for your presence at InfuSystem Holding, Inc.'s 2021 Annual Meeting of Stockholders. I am Scott Shuda, Chairman of the Board. And on behalf of the Board of Directors and the company's management team, I would like to extend a special welcome to our stockholders in attendance. Ms. Latz called your attention to the agenda, along with the rules of conduct, for the meeting. If you would like to ask a question during the meeting, you'll be addressed and given an opportunity at the appropriate time. The Secretary has delivered an affidavit of mailing establishing that notice of this meeting was duly given. A copy of the notice of the meeting and the affidavit of mailing will be incorporated into the minutes of the meeting. All stockholders of record at the close of business on March 22, 2021, are entitled to vote at this meeting. A complete list of the stockholders as of the record date was prepared and certified and is available to stockholders at this meeting as indicated on your screen. Also, I've been advised that there are represented in person or by proxy at least 15,760,695 shares of common stock or approximately 77.5% of all shares entitled to vote at the meeting, constituting a quorum. Thus, the meeting is duly convened. Moving to the matters to be voted on today. If you have voted your shares prior to the start of the meeting, your vote has been received by the company's inspector of election, and there is no need to vote those shares during the annual meeting unless you wish to revoke or change your vote. Any stockholder who does wish to vote at the meeting may do so as indicated. The first proposal to be voted on is the election of 7 directors to serve until the 2022 Annual Meeting of Stockholders and until their successors are duly elected and qualified. The nominees' qualifications are described in the proxy materials. Our Board is -- our Board has nominated for election the following persons as directors: Rich DiIorio, Paul Gendron, Carrie Lachance, Gregg Lehman, Darrell Montgomery, Christopher Sansone and Scott Shuda. The second proposal to be voted on is approval by advisory vote of the company's executive compensation. The third proposal to be voted on is the approval of the 2021 equity incentive plan. The fourth proposal to be voted on is the ratification of the appointment of BDO USA, LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021. We will wait just a few minutes to make sure that everyone who desires to vote has an opportunity to do so. [Voting]

Mr. Chupa, has there been any questions submitted on the proposals that we should address before the polls are closed? As there are no questions and the votes have been cast, I declare the polls closed. I will now ask the Secretary to provide the results of the voting that took place before the beginning of our meeting today. Any additional votes received during the meeting will be included, and the final vote tally will be reported in a Form 8-K which will be filed by the company in the next few days.

Based on the votes received and tallied, the following nominees have been elected to the Board: Richard DiIorio, Paul Gendron, Carrie Lachance, Gregg Lehman, Darrell Montgomery, Christopher Sansone, Scott Shuda. The compensation of the executive officers has also been approved by advisory vote. The 2021 equity incentive plan has been approved. And BDO USA, LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021, has been approved.

This concludes the formal portion of our meeting. I will now ask Mr. Chupa. He'll read any additional questions which were submitted during the meeting. Having been informed that there are no questions, I would like again to express our sincere appreciation to the stockholders for their attendance and the voting of their shares of InfuSystem stock. Thank you.

This concludes the meeting. You may now disconnect.