Park Aerospace Corp. (PKE) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders of Park Aerospace Corp. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Mr. Brian Shore, Chief Executive Officer and Chairman of Park Aerospace. Mr. Shore, the floor is now yours.

Thank you, operator. Good morning, Park shareholders.

An affidavit to that effect from Computershare, our transfer agent. The certified list of shareholders of record entitled to vote at this meeting is available for you to access via link at the bottom of your screen. These materials will be filed in the corporate records. Martina and I -- Martina Kochva and I have been appointed as inspectors of election, and we have executed our oaths of office. Since the majority of outstanding shares of common stock of the company is present in person or by proxy, we have a quorum and the meeting is legally convened. The time is now 11:02, and the polls for all proposals are now open. If you have not voted or wish to change your vote, you may do so now by clicking on the link provided online. Any shareholder who has already voted and does not want to change his or her vote need not take any further action. The polls are now open on each matter. There is no cumulative voting. Directors are elected by a majority of the votes cast at this meeting or by proxy. All other matters require the approval of a majority of the votes cast. We'll move on to the voting. Proposal 1, the election of 6 directions -- 6 directors is now in order. The following persons have been nominated to serve as directors until the next Annual Meeting of Shareholders and until the successors are elected and qualified. Emily Groehl, Yvonne Julian, Brian Shore, Carl W. Smith, Bradley Thress and Steven T. Warshaw. Information concerning the nominees is set forth in the proxy statement and their names are deemed duly placed in nomination. Any other nominations were required to have been submitted in accordance with the company's bylaws. No such nominations were submitted, and accordingly nominations are now closed. Proposal 2, the approval of the advisory nonbinding resolution approving the compensation of the named executive officers is now in order. The Compensation Committee of the Board of Directors of the company approved the compensation of the named executive officers set forth in the proxy statement, and the Board of Directors has recommended that shareholders approve the volume of resolution. Resolved that the shareholders approve the compensation of the named executive officers as disclosed in the proxy statement pursuant to Item 402 of Regulation S-K of the Securities and Exchange Commission, including the compensation discussion and analysis, the compensation tables and other narrative, executive compensation disclosures. Information considering the resolution is set forth in the proxy statement. Proposal 3. The ratification of the appointment of CohnReznick LLP as the company's independent registered public accounting firm for the fiscal year ending March 1, 2026, is now in order. The Audit Committee and the Board Directors has appointed CohnReznick LLP as the company's independent registered public accounting firm for the current fiscal year, which ends March 1, 2026. Information considering the ratification of this appointment is set forth in the proxy statement. If you have any questions that relate specifically to the 3 proposals presented and have not already submitted them, you should submit them now by clicking on the dialogue icon in the upper right-hand corner of your screen. The polls will be closed in a moment following questions and answers on the proposals. Seeing no questions submitted, the polls are now closed. The inspectors have determined that the preliminary voting results show that each of the nominees for election of the directors received the majority of the votes cast online at the meeting or by proxy that the proposal to approve an advisory resolution approving the compensation of the named executive officers and the proposal to ratify the appointment of CohnReznick as the company's independent registered public accounting firm has each received the affirmative vote of the holders of the majority of the votes cast online at the meeting or by proxy. Accordingly, the persons nominated have been elected as directors to serve until the next Annual Meeting of Shareholders and until their successors are elected and qualified. The proposal to approve the compensation of the named executive officers has been approved and the proposal to ratify the appointment of CohnReznick LLP as the company's independent registered public accounting firm for the fiscal year ending March 1, 2026, has also been approved. Final modalities will be reported in a Form 8-K filing with the SEC within 4 business days. The formal business of this meeting having been completed, I declare this meeting adjourned.

Thank you very much, Gus, and thank you, ladies and gentlemen, Park's shareholders for attending our annual meeting. It's very nice to have you. And you have a wonderful day and enjoy your summer. Goodbye.

This concludes the meeting. You may now disconnect.