Mativ Holdings, Inc. (MATV) Earnings Call Transcript & Summary

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Good morning. It's a pleasure to welcome you to the 2023 Annual Meeting of Stockholders of Mativ Holdings, Inc. My name is John Rogers. [indiscernible] The other officers of the company present at the meeting are Julie Schertell, Chief Executive Officer and Director; [indiscernible] 2023 Annual Meeting is now [indiscernible]. We will focus the meeting on formal actions and [indiscernible] to address any questions stockholders may have. Mr. Nunez will now present certain items in connection with holding of this meeting.

Thank you, John. A list of stockholders of record as of March 1, 2023 who are entitled to vote in this meeting has been prepared by the company in accordance with the [indiscernible] corporate law. Stockholders who wish to [indiscernible] may submit a request to the company's investor relation department at [email protected]. [indiscernible] for the 2023 Annual Meeting of Stockholders. [indiscernible] has certified that the most [indiscernible] this certification noted some proxy materials will be filed with the minutes of the meeting [indiscernible].

Thank you, Ricardo. [indiscernible] by the board of directors [indiscernible] stockholders of the company by [indiscernible] the shares owned by the stockholders will be voted and represented at this meeting by Mr. Nunez the Inspector of Elections has informed me that based on an examination of the proxies submitted, approximately 90% of the common stock of the company is represented at this meeting. Accordingly, we have a quorum present, so we will now move to the formal business of the meeting. There are 4 items to be voted on today: the election of 3 directors, the ratification of the selection of Deloitte & Touche as the company's independent registered public accounting firm for fiscal year 2023. A nonbinding advisory vote to approve executive compensation and a nonbinding advisory vote on the frequency of the advisory vote on executive compensation. The meeting agenda and rules of conduct and procedures have been posted to the webcast platform, and we will conduct the meeting in accordance with these documents. To access and view these documents please click on the documents icon at the top of the left side of your screen, then click on the document name to view. If you have voted your shares prior to the start of the 2023 annual meeting, your vote has been received by the company's inspector of elections, and there is no need to vote those shares during the meeting unless you wish to revoke or change your vote. If you have not yet voted or would like to change your vote, you may do so by clicking the proxy voting site link on the left side of your screen. The polls will remain open until declared close by Mr. Nunez. Select stockholder questions received during the meeting will be addressed at the end of today's webcast, questions not answered during today's webcast will be addressed as soon as practical after the meeting by e-mail or other direct communication, depending on the subject matter and relevance. Proposal #1. The first proposal is the election of 3 Class I directors as set forth in the proxy statement. A summary of each nominee's background can be found on Pages 10 through 14 of the proxy statement. The following persons have been recommended by the Board of Directors and are hereby placed in nomination for election to a 3-year term as Class 1 directors. William Cook, Jeffrey Keenan and Marco Levi. May I have a motion that the nominations for directors be closed.

I still move.

Is there a second?

I second that motion.

We will now proceed to vote on this proposal. [Voting]

The secretary has informed me that each of the director nominees has received sufficient votes for election and accordingly, it's declared that William Cook, Jeffrey Keenan and Marco Levi have been duly elected as Class I directors to serve until the 2026 Annual Meeting of Stockholders of the company and until their respective successors are elected and shall have been qualified. Proposal #2. Proposal #2 is the ratification of the selection of Deloitte & Touche as the company's independent registered public accounting firm for fiscal year 2023. Details regarding this proposal are set forth on Pages 69 through 70 of the proxy statement. The directors recommend that Deloitte & Touche should be ratified as the company's independent registered public accounting firm for fiscal year 2023. May I have a motion for approval of proposal #2?

I still move.

Is there a second?

I second that motion.

We will now proceed to vote on this proposal. [Voting]

Secretary has informed me that the proposal for ratification of the selection of Deloitte & Touche as the company's independent registered public accounting firm has received sufficient votes to be approved by the stockholders of the company and accordingly, the Audit Committee's selection of Deloitte & Touche has been ratified. Proposal #3. Proposal #3 is the executive compensation advisory vote. Details regarding this proposal are set forth on Pages 72 through 73 of the proxy statement. The directors recommend a vote for the advisory vote on executive compensation. May I have a motion for approval of proposal #3?

I still move.

Is there a second?

I second that motion.

We will now proceed to vote on this proposal. [Voting]

The secretary has informed me that the stockholders have approved on an advisory basis the compensation paid to our executive officers. Proposal #4. Proposal #4 is the frequency of the advisory vote on executive compensation. Details regarding this proposal are set forth on Page 74 of the proxy statement. The directors recommend a vote for an annual vote on the frequency of the advisory vote on executive compensation. May I have a motion for approval of Proposal #4.

I still move.

Is there a second?

I second that motion.

We will now proceed to vote on this proposal. [Voting]

The Secretary has informed me that the stockholders have approved on an advisory basis an annual vote on the frequency for the vote on the compensation paid to our executive officers. This concludes today's formal business. We will now answer questions that stockholders have submitted during today's webcast through the meeting platform. As there were no pertinent questions submitted during today's webcast, we may conclude the Q&A session. Any questions not answered during the webcast will be addressed as soon as practical following today's meeting in accordance with the rules of conduct and procedures. In closing, I would like to thank everyone on today's call for your attendance and interest. There being no further business to come before this meeting, may I have a motion to adjourn?

I still move.

Is there a second?

I second that motion.

We will now vote on this motion. [Voting]

Motion passes. The meeting is adjourned. Thank you very much.