Louisiana-Pacific Corporation (LPX) Earnings Call Transcript & Summary

Welcome to the 2021 Annual Stockholder Meeting of Louisiana-Pacific Corporation. I would now like to introduce our first presenter, Brad Southern, Chairman of the Board of Directors and Chief Executive Officer.

Good morning, and welcome to the 2021 annual stockholder meeting of Louisiana-Pacific Corporation. I'm Brad Southern, Chairman of the Board of Directors and Chief Executive Officer. We have stockholders attending via the web portal at the 800 number that we have provided. As is our custom, we will conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we'll do our best to provide a response to as many as possible and will address any unanswered questions on our corporate website shortly after the meeting. In keeping with the digital approach to this year's meeting, it is now shortly after 7:30 a.m. Central Time on April 30, and this meeting is now officially called to order. I'm advised by the secretary that more than a majority of the outstanding shares of common stock of the corporation are represented at this meeting. Accordingly, I declare a quorum present, and the meeting is open for business. To begin, it is my pleasure to introduce the other members of your Board of Directors, Dustan McCoy, Lizanne Gottung, Tracy Embree, Ozey Horton, Stephen Macadam and Nicholas Grasberger. We also have with us today Joel Goldblatt from Deloitte & Touche. Joel has served as the Client -- Lead Client Service Partner for LP for the past 3 years. On behalf of the entire board, I would like to take this opportunity to thank Kurt Landgraf for his 16 years of service on the LP Board. Kurt has served as our finance and audit committee chair since 2012. Kurt has been an outstanding board member and has served our shareholders well. Let me address a few procedural matters. Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. If you have voted on the internet or mailed in your management proxy, it will be voted on your behalf in accordance with your instructions, there's nothing further you need to do. Any stockholder who has not yet voted or wishes to change their vote, they do so by clicking on the voting button on the web portal and following the instructions there. Now I will present the matters to be voted upon. The first item of business is the election of the Class 3 director position, which terms expire in 2024. The 3 nominees are Nicholas Grasberger, Ozey Horton and Brad Southern. Biographies are listed in the proxy. The next order of business is the ratification of the Finance and Audit Committee selection Deloitte & Touche to audit our consolidated financial statements for 2021. The Board of Directors recommends ratification of the selection of Deloitte & Touche as our independent auditor. The next item is an advisory vote relating to named executive officer compensation. The Say on Pay vote allows our stockholders the opportunity to cast an advisory vote on the compensation of our named executive officers as described in detail in the proxy statement. The Compensation Committee of the Board of Directors is responsible for determining the compensation policies, but the entire board recommends you to vote your shares for The Say on Pay item. It's now shortly after 07:34 Central Time on April 30, 2021, and the polls are now open. Any stockholder who has not 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 votes, do not need to take any further action. [Voting]

Now that everyone has had the opportunity to vote. I now declare that the polls for the 2021 Louisiana-Pacific Corporation Annual Stockholder Meeting closed. All 3 nominees received the majority of votes and will serve as Directors of LP. The appointment of Deloitte & Touche as our independent auditor for 2021 has been ratified. The advisory vote on the approval of executive compensation has been approved. An exact tabulation of votes will be appended to the minutes of the meeting and will be publicly disclosed. We again thank you for attending the meeting and for your ongoing support and the shareholders of Louisiana-Pacific. The business portion of the meeting is adjourned. Now we would like to open the meeting for stockholder questions and comments. Please note, we will attempt to answer as many questions as time allows, but only questions that germane to meeting will be addressed. Any questions that we do not get to will be addressed on our company website. Seeing that there are no questions. Today's meeting is now adjourned. Thank you.

Thank you. The 2021 Annual Stockholder Meeting of Louisiana-Pacific Corporation has officially computed Thank you for attending. You may now disconnect.