Range Resources Corporation (RRC) Earnings Call Transcript & Summary

Good morning. Thank you for joining the Range Resources Corporation Annual Shareholder Meeting. I'm Erin McDowell, Assistant Corporate Secretary. As those of you know, if you have attended any of our prior meetings, we typically have a relatively short formal meeting. So if you have any questions about the matters addressed at the meeting, we will reserve a few minutes at the end. For any other questions about the company, our IR team is, as always, available to speak to you. At this time, I will turn the meeting over to Greg Maxwell, Chairman of the Board.

Thanks, Erin. Good morning, and welcome to the 2021 Annual Meeting of the Stockholders of Range Resources Corporation. As most of you know, I'm Greg Maxwell, Chairman of the Board. With us today telephonically are my fellow Board members, Brenda Cline; Margaret Dorman; Jim Funk; Steve Gray; Steve Palko; and Jeff Ventura, who is also our CEO. On behalf of the entire Board, I want to thank you for voting in your proxy this year, and I assure you, the Board carefully considers the results of each year's proxy vote in making decisions about our company. We also have representatives of our independent auditing firm, Ernst & Young, on the call, Andrea Lovelady and Camille Stout. David Poole, Corporate Secretary, will serve as secretary and record the minutes of this meeting. David has also been designated to serve as the inspector of election of this meeting, and he has confirmed that a quorum is present.

Thanks, Greg. Under the company's bylaws, the Board of Directors set March 26, 2021, as the record date. Notice of this meeting was first mailed on April 2, 2021. On request, we will make available an affidavit of mailing and a certified list of the company's stockholders as of the record date, compiled by the company's transfer agent. There were 259,586,435 shares of common stock outstanding on the record date. Each outstanding share of common stock is entitled to 1 vote on the matters presented for a vote at this meeting. If anyone has a proxy for a stockholder or want to vote at this meeting, please e-mail a copy of your proof of stock ownership and your vote to [email protected] at this time. The proposal should be considered at this meeting are as follows. Proposal #1 will be the election of 7 Directors to serve on the Board until the next Annual Meeting. Since it is an uncontested election, the stockholders will elect Directors by a majority vote as provided by the company's bylaws. The Directors who have been nominated are the present directors of the company. The second matter to be considered and voted on, a nonbinding proposal regarding the company's executive compensation philosophy as referred to as say on pay. The third item is a proposal to ratify the appointment of Ernst & Young LLP as the registered public accounting firm for our 2021 fiscal year. The fourth matter is to seek approval of the amendment for the company's 2019 equity plan to increase the shares issuable under the plan. There are over 228 million shares of common stock represented at this meeting. This equates to 91.54% of the total outstanding common stock of the company. In voting for the directors, the results for Ms. Brenda Cline, Ms. Margaret Dorman, Mr. Jim Funk, Mr. Steve Gray, Mr. Greg Maxwell, Mr. Steve Palko and Mr. Jeff Ventura, all were voted in favor. For proposal #2o, the say on pay proposal, over 94% of the votes were cast in favor of this proposal. In addition, with approval of over 99% of the votes cast, Ernst & Young, was ratified as the company's registered public accounting firm for 2021. In voting regarding the equity plan, the votes were over 88% in favor.

Thank you, Erin. There being no further formal business to conduct. The meeting is adjourned. If you have any questions, we will take them now. As I mentioned before, we would appreciate you directing your questions to the matters addressed in our meeting.

[Operator Instructions]

Mr. Maxwell, this is David Poole, we do not have any questions being submitted.

Very good. Thank you, David. There being no further questions, I would like to thank you for attending our stockholder meeting and for your interest in and support of the company. That concludes our call.

Thank you.

Thank you. This concludes today's conference call. Thank you for participating, and you may now disconnect.