Pursuit Attractions and Hospitality, Inc. (PRSU) Earnings Call Transcript & Summary

Welcome to the 2021 Annual Meeting of Viad's Shareholders. I would now like to introduce Chairman, Rich Dozer. Please go ahead.

Good morning, everyone, and welcome to Viad Corp.'s 2021 Annual Meeting of Shareholders, which we are holding in virtually. I am Rich Dozer, Chairman of Viad's Board of Directors, and I will serve as Chairman of this meeting. You can see the agenda for today's meeting posted on your screen. Please also review the posted rules of conduct for this meeting and how you may submit your questions. Please include your name and whether you are a registered shareholder or if you hold your shares through a bank, broker or other institution. Please submit your questions now or any time during the meeting through the online portal. We have allowed up to 15 minutes of time for your questions at the end of the meeting. I now call the annual meeting of shareholders to order. Joining me to conduct the meeting today are Steve Moster, Viad's Chief Executive Officer; and Derek Linde, Viad's General Counsel and Corporate Secretary. I would also like to introduce our Director Nominees and current Directors who are joining us online today. Andrew Benett is the Executive Chair and CEO of Harte Hanks, Inc. a marketing services company listed on the New York Stock Exchange. He was selected to our Board in 2013 and serves as Chairman of the Corporate Governance and Nominating Committee and as a member of the Human Resources Committee; Brian Cassidy is the Co-President and partner of Crestview. He was appointed to our Board in 2020 and serves as a member of our Human Resources Committee. Denise Coll was formerly President of the North American Division of Starwood Hotels & Resorts. She was elected to our Board in 2018 and serves as a member of the Human Resources and Corporate Governance Committee and Nominating Committee; Ginnie Henkels is the Chief Executive Officer of Empowerment and Inclusion Capital Corp, which is a special purpose acquisition company with a purpose-driven mission to acquire diverse and inclusive businesses. She is also the former Executive Vice President, Chief Financial Officer and Treasurer of Swift Transportation company. She was elected to our Board in 2017. Ginnie serves as the Chair of the Audit Committee and as a member of the Corporate Governance and Nominating Committee; Steve Moster, our President and CEO, and he recently assumed the role of President of GES, prior being elected to our President and CEO role, he served in various executive management roles for the company. He was elected to our Board in 2014; Ed Mace is the President and CEO of Silverwest Hotels, a company that manages and operates entities designed to acquire, develop and reposition U.S. Hotels & Resorts. He was elected to our Board in 2012. He's the Chairman of the Human Resources Committee and a member of the Audit Committee. Kevin Rabbitt is an operating executive with Crestview and is also the CEO of Hornblower Holdings, a leading provider of water-based tours and services in North America. He was appointed to our Board in 2020, and is a member of the Corporate Governance and Nominating committee; Josh Schechter is Chairman of Support.com, a provider of cloud-based software and services for technology support. He was appointed to our Board in 2015 and is a member of the Corporate Governance and Nominating Committee and Audit Committee. Again, I'm Rich Dozer, I serve as Chairman of the Board since 2014. I was past President of the Arizona Diamondbacks Baseball franchise, President of the U.S. Airways Center; Vice President and Chief Operating Officer of the Phoenix Suns Basketball franchise. I'm a member of the Board's Human Resource and Audit committees. In addition to Steve and Derek, I'd also like to recognize other members of the senior leadership team, David Berry, President of Pursuit; and Ellen Ingersoll, our Chief Financial Officer. Also joined online today is Keri Pick from Deloitte & Touche, our independent registered public accounting firm. Keri is the lead partner for VF. We will now move to the formal business of the meeting. Derek Linde, the Corporate Secretary will submit an affidavit as to the mailing of the notice of this meeting, which I will direct to be filed with the records of this meeting. Derek?

I submit this affidavit of distribution that affirms that beginning on March 29, 2021 shareholders of record either received electronically or by mail, notification that the form of proxy, notice of this meeting, proxy statement and annual report on Form 10-K for the year ended December 31, 2020, were available by Internet or could be obtained by request. The affidavit with exhibits will be filed with the meeting records. Additionally, I have a record of all Viad shareholders entitled to vote at this meeting as of the close of business on March 15, 2021. We have made the shareholder registration list available to you during this meeting by posting it on this website.

Thanks, Derek. The Board has appointed Andrew Wilcox of Broadridge Financial Services as inspector of elections for this meeting, and he is joining us online today. Mr. Wilcox has previously taken an oath of office, which is part of the records of this meeting. The Corporate Secretary will now report on the presence of a quorum.

The holders of more than 90% of Viad Corp.'s outstanding stock, who are entitled to vote at this meeting are present in person or represented by proxy. Accordingly, a quorum is present and the meeting may proceed.

The Board approved the following 3 proposals for your consideration at today's meeting. First is the reelection of Ginnie Henkels and I to the Board of Directors each for a 3-year term to expire in 2024. Next is the ratification of the selection of Deloitte & Touche LLP as Viad's independent registered public accounting firm for 2021. The final matter is the advisory approval of the 2020 compensation of our named executive officers. The polls are now open for voting on the 3 proposals. If you previously voted by proxy -- by proxy, you do not need to vote again. However, if you'd like to vote or if you would like to change your vote, you may now vote by clicking on the button on the website that says "vote here". I will now take a little break and be back to you in 30 seconds or so. [Voting]

I will now ask the inspector of elections, Mr. Andrew Wilcox, to report the results of the voting that were tabulated prior to this meeting. Mr. Wilcox?

Mr. Chairman, please be advised that in connection with the election of directors, each nominee received a substantial majority of votes cast in favor of election. In addition, a substantial majority of shareholders voted for ratification of the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2021 and in favor of the advisory vote on executive compensation.

Thank you, Mr. Wilcox. Based on the voting report of the inspector of elections, the nominees for Director have been elected, the selection of Deloitte & Touche LLP is ratified and executive compensation is approved. The company will report the final vote results on Form 8-K, which will be filed with the Securities and Exchange Commission within 4 business days of this meeting. We have finished the formal part of the meeting, and we'll now take your questions. If you have not done so, please submit your questions through the online portal. And remember to include your name and whether you are a registered shareholder or whether you hold Viad shares through a bank, broker or other institution. We're just waiting to see if we get any other questions here. Well, it appears there are no questions. So seeing no questions, I thank you for attending the annual meeting and for your continued support. The meeting is now adjourned.

Thank you for attending. The Annual General Meeting for Q4 has now come to an end. You may now disconnect.