SI-BONE, Inc. (SIBN) Earnings Call Transcript & Summary

Ladies and gentlemen, welcome to the SI-BONE 2020 Annual Shareholder Meeting. I will now introduce Jeffrey Dunn.

Good afternoon. My name is Jeffrey Dunn, and I'm the Chairman of the Board and Chief Executive Officer of SI-BONE, Inc. I'm very happy to welcome you to the SI-BONE 2020 Annual Stockholders Meeting. The meeting will now officially come to order. The time now is 10:01 Pacific on Tuesday, June 16, 2020, and the polls are now open for voting on all matters to be presented. As you know, we are hosting today's meeting through a virtual online platform hosted by Broadridge. Before we proceed with the formal business of the meeting, I'd like to introduce you to the members of the Board and the business team who are with us today. The other members of the Board with us virtually today are Timothy Davis; Mark Foley; John Freund; Jeryl Lynn Hilleman; Gregory Hinckley; Karen Licitra; and Keith Valentine. The other executive offices of the company with us virtually today are Laura Francis, Chief Operating Officer and Chief Financial Officer; Mike Pisetsky, General Counsel and Chief Compliance Officer; and Anthony Recupero, Chief Commercial Officer. Mr. Pisetsky will act as Secretary of the meeting. I'd also like to introduce Chris Alabi of PricewaterhouseCoopers LLP, the company's independent registered public accounting firm; and Matthew Hemington of Cooley LLP, the company's outside legal counsel, who are also in attendance virtually and available to respond to appropriate questions as needed. We will proceed with the formal business of the meeting in the order set forth in the notice of the annual meeting and proxy statement. We will first present the 2 proposals submitted for approval by our Board. We will take questions related to the proposals after all the proposals have been presented, after which we will announce the preliminary results of the voting. As I mentioned earlier, the polls are open for voting on all matters to be presented. After I describe each item to be voted on and take any statements or answer -- or answer any questions with respect to these proposals, we will close the polls. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you have already submitted your vote by proxy and do not wish to change your vote, you do not need to vote now and your shares will be voted as previously instructed. If you intend to vote and have not already done so, you must submit your vote online now in order for it to be counted. If you have not voted, I encourage you to vote online now. Guests of the meeting will not be able to ask questions. For stockholders who have joined the meeting using their 16-digit control number, to ask a question, click on the Ask a Question prompt on your screen to submit your question or comment online. We will try and answer questions submitted that are germane to the proposals and/or this meeting as and if we have time. Please submit your questions now to make sure they are received in a timely fashion for our review and response. Will the secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholders list?

I have at this meeting a complete list of the holders of record of the company's common stock on April '20, 2020, the record date for this meeting. A list of stockholders of record is available for inspection by stockholders of record during this meeting for any reason germane to this meeting. Please click on the registered shareholder list button in your online portal to view the list. I also have an affidavit certifying that on April 22, 2020, a notice of annual meeting of stockholders of the company was deposited in the United States Mail to all stockholders of record at the close of business on April '20, 2020.

I am now appointing Mr. Hemington, our outside legal counsel, to act as inspector of elections at this meeting. Mr. Hemington has taken and subscribed the customary oath of office to execute his duties with strict impartiality. We will file this oath with the records of the meeting. His function is to decide upon the qualification of voters, accept their votes and when balloting on all matters is completed, to tally the final votes. Will the secretary please report at this time with respect to the existence of a quorum?

I have been informed by the inspector of elections that proxies have been received for 24,440,601 of the 28,425,825 shares of common stock outstanding on the record date, which represents approximately 86% of the total number of outstanding shares. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting.

We will now proceed with the formal business of this meeting. After all the proposals have been described, we will answer any questions related to the proposals submitted online. As a reminder, we ask that any comments or questions during this portion of the meeting pertain only to these proposals. Please submit any questions as soon as possible for our review. There are 2 proposals to be considered by the stockholders at this meeting. The first item of business is the election of the 3 directors to serve until 20 -- the 2023 Annual Meeting of the Stockholders and until their successors are elected. The nominees for Director are: Jeffrey W. Dunn; John G. Freund, M.D.; and Gregory K. Hinckley. The second item of business today is the ratification of the selection by the Audit Committee of the Board of Directors of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the company for the fiscal year ending December 31, 2020. That was the final proposal for today's meeting. We will now review if there are any questions submitted about the proposals before we close the polls. As a reminder, we will only review and answer questions at this time that pertain to the proposals. Please note that our discussion today may include forward-looking statements, and our actual results may differ materially from those discussed here. Additional information concerning factors that could cause such a difference can be found in our most recently filed quarterly report on Form 10-Q. Mr. Pisetsky, are there any questions?

There are no questions at this time.

Thank you. So there are no questions at this time. The time now is 10:08, and the polls are now closed for voting. May we have the results of the voting?

The report of the inspector of elections covering the proposals presented at this meeting is as follows: the proposal to elect the 3 directors of the company is carried; number two, the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the company for the fiscal year ending December 31, 2020, is ratified.

We expect to report our preliminary voting results or if available to us on a timely basis, our final voting results on a current report on Form 8-K to be filed with the SEC within 4 business days after the end of this meeting. If not earlier reported, we expect to report our final voting results in an amendment to our Form 8-K within 4 business days after the final results are known to us. This concludes the formal portion of today's meeting and the annual meeting is now concluded. Thank you for joining.

This concludes your meeting. You may now disconnect.