Sanmina Corporation (SANM) Earnings Call Transcript & Summary

Good day and welcome to the Sanmina Corporation 2021 Annual Meeting of Stockholders. I would now like to turn the conference over to Jure Sola. Please go ahead.

Thank you, Jason. Good morning. My name is Jure Sola. I'm the Chairman and the CEO of Sanmina Corporation. It is my pleasure to welcome you to our 2021 Annual Meeting of Stockholders. And thank you for being here with us today. Now I call this meeting to order. We are joined today by our independent directors, and let me introduce them to you: Jackie Ward, Rita Lane, Eugene Delaney, John Goldsberry, Joe Licata, Krish Prabhu and Mario Rosati. Also, today, we are joined by our independent auditors. They will be available during the question-and-answer session after the meeting to respond to any questions that you might have. Also, I'd like to introduce Chris Sadeghian, our Corporate Secretary, who is also serving as inspector of election today. Chris Sadeghian will handle procedural portion of this meeting. Now I'll turn this call over to Chris. Chris?

Thanks, Jure. As inspector of election, I confirm that we have received a preliminary report from Broadridge Financial Solutions, our proxy tabulator, which states that a majority of the outstanding shares of the company as of the record date of January 21, 2021, are represented at this meeting by proxy. As a result, we have a quorum for the transaction of business today, and the polls are now open for any stockholder who wishes to vote here at the meeting. You need not vote today unless you are voting for the first time or wish to change your vote. If you have not yet voted or have voted and wish to change your vote, you may do so by clicking on the vote button in the web portal and following the instructions there. As described in the proxy statement, the proposals being voted upon at this meeting are as follows: first, election of Jure Sola, Eugene Delaney, John Goldsberry, Rita Lane, Joe Licata, Krish Prabhu, Mario Rosati and Jackie Ward as directors of Sanmina; second, ratification of PricewaterhouseCoopers LLP as Sanmina's independent registered public accountant for the 2021 fiscal year; third, approval on a nonbinding basis of the compensation of our named executive officers as disclosed in the proxy statement, this is also known as say-on-pay; and lastly, approval of the reservation of an additional 1.4 million shares of common stock for issuance under our 2019 Equity Incentive Plan. We will now pause briefly for voting to complete. [Voting]

I now declare the polls closed and will report the preliminary voting results. These results show that: the directors named earlier have been duly elected; the appointment of PricewaterhouseCoopers LLP as independent auditors for 2021 has been ratified; the compensation of our named executive officers, as disclosed in the proxy statement, has been approved on a nonbinding basis; and the reservation of an additional 1.4 million shares of common stock for issuance under our 2019 Equity Incentive Plan has been approved. These preliminary results exclude any shares that may have been voted or changed today. However, such shares will be included in the final voting results for this meeting, which will be reported on a Form 8-K, to be filed with the SEC later this week. This concludes the formal portion of our meeting, and this meeting is now adjourned with respect to the matters being voted upon at the meeting. With that, I turn the meeting back over to Mr. Sola.

Thank you, Chris. We'll now address any questions from stockholders regarding the company. [Operator Instructions] We'll now pause briefly to hear your questions.

At this time, we have no questions.

I'm informed there's no general questions submitted by stockholders. Therefore, now I adjourn this meeting. Thank you very much for joining us, and thank you for your time. Bye-bye.

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