Phillips Edison & Company, Inc. (PECO) Earnings Call Transcript & Summary

Good morning and welcome to the Phillips Edison & Company 2020 Annual Meeting of Stockholders. I would now like to turn the conference over to Jeff Edison. Please go ahead.

Thank you. Good morning, ladies and gentlemen. I'm Jeff Edison, Chief Executive Officer and Chairman of the Board of Phillips Edison & Company. I'm also the Chairman of this meeting. It is my pleasure to welcome you to our convened and to our reconvened annual meeting of stockholders, Tanya Brady, our General Counsel and Secretary, is the secretary of this meeting. Chris J. Woods is the inspector of elections of this meeting, and he has signed his oath of office. The meeting is now called to order. While the meeting is virtual only, we welcome questions from our stockholders about the proposal to be voted on at today's meeting. You can submit your questions through the webcast interface. In addition, you may vote your shares online at any time during this meeting prior to the closing of the poll. Please remember that if you previously voted by proxy, your shares will be voted accordingly. You do not need to vote today unless you are voting for the first time or wish to change your previous vote. I will now turn things over to Tanya to report on achieving quorum for the meeting. Tanya?

Thank you, Jeff. We have represented in person or by proxy, holders of over 171,520,000 shares of common stock held as of the close of business on April 6, 2020, which was the record date for the meeting. This represents over 59% of all of the shares entitled to vote at this meeting. Jeff?

Thank you. Because stockholders entitled to cast majority of the votes entitled to be cast at this meeting are present in person or by proxy, a quorum is present and this meeting is duly convened for the purposes of transacting such business as may properly come before it. The first order of business is to present the 1 remaining proposal to be voted on today. The proposal is described in more detail in the proxy materials that accompanied the notice of the annual meeting. The proposal is to approve the amendment and restatement of our charter. We would now like to provide our stockholders with the opportunity to ask any questions regarding the charter proposal to be voted on at today's meeting. If you have a question regarding the proposal, please submit it online now.

At this point in time, Jeff, I am seeing no questions in our queue.

Okay. Thank you, Michael. We will take a short break for votes to come in from our webcast participants. With that done, I declare the polls are now closed with respect to the proposal to be voted on at today's meeting. Tanya, will you please report on the preliminary voting results?

Based upon the preliminary vote totals reported by the inspector of elections, the stockholders have approved the amendment and restatement of our charter.

Well, thank you, Tanya. There being no further business, this meeting is now adjourned. On behalf of our Board of Directors, our executive management team, thank you for attending today. Have a great day.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.