Shift4 Payments, Inc. (FOUR) Earnings Call Transcript & Summary

Good morning and welcome to the 2021 Annual Meeting of Stockholders for Shift4 Payments, Inc. I will now turn the line over to Jared Isaacman. Mr. Isaacman, please go ahead.

Thank you. Good morning. I'm Jared Isaacman the Founder, CEO and Chairman of the Board of Directors here at Shift4 Payments and the Chairman for today's meeting. I'm very happy to welcome you to our 2021 Annual Meeting of the Stockholders, which we are holding virtually in light of the ongoing COVID-19 pandemic. On behalf of Shift4, the members of the Board and the company management, I hope everyone is safe and healthy. Before I call the meeting to order, I'd like to introduce you to my fellow members of the Board and the officers of the company who are with us today. The other members of the Board in attendance are Donald Isaacman; Christopher Cruz; Andrew Frey; Nancy Disman; Sara Goldsmith-Grover; and Jonathan Halkyard. In addition, participating today are Bradley Herring, our Chief Financial Officer; Jordan Frankel, our Secretary and General Counsel; and Taylor Lauber, our Chief Strategy Officer. I would also like to introduce Gina Gin of PricewaterhouseCooper, the company's independent registered public accounting firm, who will have the opportunity to make a statement, and we'll be available to respond to appropriate questions during the Q&A portion of the meeting. So the meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in notice of the annual meeting and proxy statement. The polls opened today, June 10, 2021, at 10 a.m. Eastern Time for voting on all matters before the meeting. If you've not already voted and wish to vote, the polls will remain open until we finish presenting the proposals and close the polls. You not need to vote during the meeting if you've already voted and do not wish to change your vote. On the virtual meeting web page, you will find the agenda for the meeting. You will also find the rules of conduct for today's meeting. Please review these rules carefully. Note that only stockholders who are logged into the meeting using their 16-digit control number will be able to vote and submit questions at today's meeting. Our Corporate Secretary will file the proof of mailing of notice of the meeting with the records of the meeting. All stockholders of record at the close of business on April 16, 2021, or holders of a valid proxy are entitled to vote at this meeting. A complete list of the holders of record of the outstanding shares of the company's Class A, Class B and Class C common stock or on the record date for the meeting is available on your screen if you've logged into the meeting again, using your 16-digit control number. At this time, I'd like to introduce [ Tony Corrido ], a representative of Broadridge Financial Services. The Board of Directors has appointed a representative of Broadridge to act as Inspector of Election at today's meeting. Mr. Corrido has signed a customary oath of office to execute his duties with strict impartiality. We will file this oath with the records of the meeting. I've been informed that a quorum is present. Therefore, I hereby declare this meeting to be duly constituted for the transaction of business. We will now proceed with the formal business of this meeting. There are 2 proposals to be considered by the stockholders at this meeting. The company recommends that the stockholders vote for each of these proposals. So on first, the election of directors. The first item of business is the election of myself, Jared Isaacman, Founder and CEO, Shift4 Payments; and Andrew Frey, a partner at Searchlight Capital to serve as a Class I Director of the company for a term of office expiring at the Annual Meeting of Stockholders to be held in 2024. The second item of business is the ratification of the Audit Committee's appointment of PwC as the independent registered public accounting firm of the company for the year ending December 31, 2021. Gina, would you like to make a statement?

No statement at this time. Thank you.

Okay. That was the final proposal for today's meeting. So if you wish to vote and you haven't already, please vote now by clicking on the voting button on the web portal and follow the instructions. You do not need to vote electronically if you've already sent in your signed proxy or if you voted by telephone or over the Internet. We will pause for approximately 30 seconds before closing the voting polls. [Voting]

Okay. So let it ran a little long time, it's now 10:10 in the morning here, eastern Time, June 10, 2021. The polls are now closed for voting. So thank you very much. I've received the preliminary report of the Inspector of Election to be kept with the company's records of the annual meeting. Based on this preliminary report of the Inspector of Election, Jared Isaacman and Andrew Frey, have been elected as directors. And the appointment of PwC as our independent registered public accounting firm for the year ending December 31, 2021, has been ratified. The final tally of the votes will be published within 4 business days and the current report on Form 8-K to be filed with the Securities and Exchange Commission. And this meeting is now adjourned. So with this, the management team myself are now available to answer questions. Please note that we'll be only answering questions that are within the parameters of the rules of conduct and only stockholders who have logged in the meeting using their 16-digit control number are able to submit a question through the Q&A area of the web portal. Mr. Frankel, are there any questions that have been submitted?

No, there are no questions. Please proceed with your closing remarks.

And so with that, ladies and gentlemen, this concludes our annual meeting. I want to thank you for attending and for your interest in Shift4 Payments.