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

Thank you for joining Neuronetics Inc.'s 2021 Annual Meeting of Stockholders. I will now turn the meeting over to Neuronetics' Chairman of the Board, Brian Farley.

Good morning, ladies and gentlemen, and welcome to the 2021 Annual Meeting of Stockholders of Neuronetics, Inc. This is Brian Farley, Chairman of the Board, and I will lead today's meeting. I'd like to introduce the other directors of the company who are participating in today's virtual meeting. Keith Sullivan, President and CEO; Rob Cascella, who will succeed me as Chairman of the Board at the conclusion of today's meeting; John Bakewell; Sheryl Conley; Wilf Jaeger; Glenn Muir; and Bruce Shook. Also present are Andy Macan, the company's General Counsel, who will sit as Secretary of the meeting; Steve Furlong, the company's CFO; Frank Brown, the company's controller, and representatives of KPMG LLP, the company's internal auditor. Mr. Brown has informed me that proxies representing over 75% of the company's total issued and outstanding capital stock entitled to vote have been received. Accordingly, I rule that notice of this meeting has been properly served, that a quorum is present and that all items of business are properly before the meeting. Therefore, I now declare the 2021 Annual Meeting of Neuronetics, Inc. Stockholders to order. Each of the Director candidates has been duly nominated and all matters to be voted on at this meeting are considered to have already been moved and seconded and opened 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'll pause for a moment to allow for an opportunity for any final votes to come in. [Voting] Now that everyone has had the opportunity to vote I now declare the polls for the 2021 annual meeting of Neuronetics Inc. closed. Mr. Macan, would you please report on the preliminary voting?

Yes. The preliminary voting results are as follows: With respect to the election of directors, our 7 nominees received an average of over 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 2021 was ratified by more than 99% of the votes cast. Therefore, each of the proposals submitted to 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.

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

There are no questions.

Thank you. This concludes the formal part of the 2021 annual meeting of Neuronetics Inc. Stockholders. We are adjourned, and I'd like to invite Keith Sullivan to make some closing remarks.

Thanks, Brian. I'd like to take -- I'd like to thank our stockholders for their confidence in and support of our company. As you heard a few weeks ago, 2021 is off to a strong start, and we are excited for the rest of the year. As we announced last month, Brian Farley has announced his decision to retire from the Board effective today. I'd like to thank Brian for his 12 years of dedicated service to Neuronetics. Brian, we wish you well and great success in your future endeavors. As Brian mentioned, Rob Cascella will succeed Brian as Chairman of the Board, and I and the rest of the Board and the management team look forward to working with Rob in his new capacity. With that, I'll close our 2021 annual meeting. Thank you for attending, and enjoy the rest of the day.