Proto Labs, Inc. (PRLB) Earnings Call Transcript & Summary

Good morning, and welcome to Proto Labs' Annual Shareholder Meeting. I would now like to introduce the first presenter, Rob Bodor.

Good morning, ladies and gentlemen. Thank you for attending this virtual meeting. I'm Rob Bodor, President, Chief Executive Officer and a director nominee of Proto Labs, and it is my pleasure to welcome you all to our 2021 Annual Meeting of Shareholders. Thank you for joining us today. It is approximately 8:30 a.m. Central Time. And in accordance with the notice of the meeting and at the request of our Chairman, I call this meeting to order. I would like to introduce the other directors of the company who are in attendance and logged into this virtual meeting: Archie Black, Sujeet Chand, Rainer Gawlick, John Goodman, Sven Wehrwein and Don Krantz. Also in attendance is John Way, the company's Chief Financial Officer, who the company has duly appointed as the inspector of election for today's meeting. March 23, 2021, was designated as the record date for this meeting. A notice of annual meeting and proxy statement were mailed to shareholders of record in advance of the meeting, and an affidavit of mailing will be included in the minutes of today's meeting. The holders of at least the majority of the shares of common stock outstanding on the record date and entitled to vote at this meeting are represented here today. Accordingly, a valid quorum is present. Additionally, stockholders may ask questions electronically during the meeting by submitting questions in the field provided in the web portal. Questions received during the meeting related to the matters for shareholder vote will be addressed before the polls are closed for voting. General questions regarding the company will be addressed following adjournment of the formal business of the annual meeting. The first item to be considered is the election of 8 directors, each to serve until the election of directors at the 2022 Annual Meeting of Shareholders. The Board of Directors has nominated Archie Black, Sujeet Chand, Moonhie Chin, Rainer Gawlick, John Goodman, Don Krantz, Sven Wehrwein and myself as directors and recommends a vote in favor of electing each of them. The second item is the ratification of the selection of Ernst & Young LLP as the company's independent registered public accounting firm for the current fiscal year that began on January 1, 2021, and will end on December 31, 2021. The Audit Committee of the Board of Directors has appointed Ernst & Young, and the Board recommends a vote in favor of ratifying such appointment. The third item is a vote on an advisory basis to approve the compensation of Proto Labs' officers disclosed in the proxy statement for this meeting. The Board recommends a vote in favor of approving such compensation. The polls are now open for voting on the items properly brought for consideration at today's meeting. For shareholders voting online, please log in as a stockholder on the web portal and vote now. If you have previously returned a proxy, you do not need to do anything at this time. We will now pause for voting. [Voting]

The inspector of election has advised me that the preliminary tabulation of the votes cast at today's meeting is complete, and I am pleased to announce the following results: proposal 1, the election of the 8 director nominees has been approved by the requisite vote of the shareholders; proposal 2, the ratification of the election and selection of Ernst & Young LLP as the company's independent registered public accounting firm for 2021 has been approved by the requisite vote of the shareholders; proposal 3, the advisory vote to approve the compensation of Proto Labs' officers disclosed in the proxy statement for this meeting has been approved by the shareholders. The exact vote totals will be certified by the inspector of election and incorporated in the minutes of today's meeting. Thank you for your participation. This concludes today's official meeting. We will now address stockholder questions. Where we receive similar questions on the same topic, we will group them together and will provide a single answer.

[Operator Instructions] There are no further questions at this time. The Proto Labs Annual Shareholder Meeting has now come to an end. Thank you for attending. You may now disconnect.