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

Good morning. My name is Jeffrey Dunn, and I am the Executive Chairman of the Board of SI-Bone, Inc. I'm very happy to welcome you to the SI-BONE, Inc. 2021 Annual Stockholders Meeting. The media is now efficiently coming to order. The time is now 08:02 Pacific Time on Thursday, June 10, 2021, 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 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 Virtually today are: Timothy E. Davis; Mark J. Foley; Laura Francis, a member of the Board and SI-BONE's Chief Executive Officer; John G. Freund; Jeryl L. Hilleman; Gregory K. Hinckley; Karen A. Licitra; Helen Loh; Mika Nishimura and Keith C. Valentine. The other executive officers of the company with us virtually today are Anthony J. Recupero, President, Commercial Operations; Anshul Maheshwari, Chief Financial Officer; and Michael A. Pisetsky, Senior Vice President of Operations and Administration and Chief Legal Officer and Corporate Secretary. Mr. Pisetsky will act as the secretary of the meeting. I'd also like to introduce you to 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 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 Q&A button on the lower right corner of your screen to submit your question or online comment. We will try to 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 12, 2021, 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 reasons germane to this meeting. Please click on the materials button followed by the registered shareholders list -- link in your online portal to view the list. I also have an affidavit certifying that on April 27, 2021, 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 12, 2021.

I am 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 election that proxies have been received for 29,099,664 of the 32,811,927 shares of common stock outstanding on the record date, which represents approximately 88.7% 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 3 directors to serve until the 2024 Annual Meeting of Stockholders and until their successors are elected. The nominees for Director are: Helen Loh, Mika Nishimura and Keith C. Valentine. 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, 2021. This was the final proposal for today's meeting. We will now review if there are any questions submitted about these 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.

Okay. So there are no questions. The time is now 08:09 AM Pacific Time, and the polls are now closed for voting. May we have the results of the voting?

The report of the Inspector of Election covering the proposals presented at this meeting is as follows: the proposal to elect the 3 directors of the company is carried. And the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the company for the fiscal year ending December 31, 2021, is ratified.

Thank you. We expect to report 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.