Neuronetics, Inc. (STIM) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen, and welcome to the 2020 Annual Meeting of Stockholders of Neuronetics, Inc.. I am Brian Farley, Chairman of the Board, and I will act as the chair of this meeting. I'd like to introduce the directors of the company who are participating in today's virtual meeting, Cheryl Blanchard, Steve Campe, Sheryl Conley, Wilf Jaeger and Glenn Muir as well as Director Nominee, John Bakewell. Andy Macan, the company's General Counsel and a member of the office of the President, will act as Secretary of the meeting. Representatives of KPMG, the company's external auditor; and Pepper Hamilton, the company's counsel, are also present. Frank Brown will act as the inspector of election and he has taken the oath of office as required by law. I have been informed by the inspector that proxies representing over 85% of the company's total issued and outstanding capital stock entitled to vote have been received. As of this meeting, I will now rule: one, that the notice of this meeting has been properly served; two, that a quorum is present; and three, that all items of business are properly before the meeting. Therefore, I now declare the 2020 Annual Meeting of Neuronetics, Inc. Stockholders to order. Each of the director candidates has been duly nominated and each of the other matters to be voted on at this meeting are considered to have already been moved and seconded and open to a stockholder vote. 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. I will pause for a moment to allow for an opportunity for final votes to come in. [Voting]

Okay. Now that everyone has had the opportunity to vote, I now declare the polls for the 2020 Annual Meeting of Neuronetics, Inc. closed. Mr. Macan, would you please report on the preliminary voting?

Yes. Thank you, Mr. Chairman. The preliminary voting results are as follows: with respect to the election of directors, the 6 nominees received an average of 91% of the votes cast and each nominee received sufficient votes for election to the Board. And the appointment of KPMG as the company's independent registered public accounting firm for 2020 was ratified by more than 99% of the votes cast. Accordingly, each of the proposals 1 and 2 submitted to the stockholders have been approved. The final voting results will be reported on a Form 8-K filed with the Securities and Exchange Commission within 4 business days after today's meeting.

Thank you. Mr. Macan, are there any questions properly brought before the meeting in the Q&A portal?

No, Mr. Chairman, there are no questions.

Okay. Thank you. With all business properly brought before the meeting now concluded, the 2020 Annual Meeting of Neuronetics, Inc. Stockholders is adjourned. Thank you for joining us today.