Simulations Plus, Inc. (SLP) Earnings Call Transcript & Summary

Welcome to the Simulations Plus Annual Meeting of Shareholders. I'm Shawn O'Connor, CEO of Simulations Plus, and I will be Chairing the proceedings today. We're holding our Annual Shareholders Meeting in a virtual format today. In doing so, we strive to make the meeting as inclusive as possible by offering similar opportunities to participate as provided at in-person meetings. You may vote and electronically submit questions via the online platform while this meeting is in session. We really appreciate your participation today. With me to conduct the meeting is Will Frederick, our CFO and Corporate Secretary. And now I'd like to call the Annual Meeting of Shareholders to order. As Chair of the meeting, I've adopted an agenda that will govern the order of business and the rules of conduct for the meeting. Copies of the agenda are available on the virtual meeting site. I will now hand the meeting to Will to report the notice of the meeting, the proxies received and present the matters to be voted on. Will?

Thanks, Shawn. The polls are now open for those who have not voted and will close in a few minutes after the presentation of our business matters. If you previously voted by the Internet, phone or mail, you do not need to take any additional action. If you previously voted and wish to change your vote, please do so before the closing of the polls using the voting buttons via the online portal. After the poll is closed, we will release the preliminary results of the votes. Our Board of Directors has appointed Broadridge Financial Solutions to serve as inspector of election. A representative of Broadridge is participating by conference call and serving as the inspector of election. Following the voting, Broadridge will tabulate the final votes. Shareholders wishing to ask a question may do so on the virtual online portal. We will be taking both pre-submitted and live questions during the Q&A session, which will occur at the end of this meeting. We are committed to answering your questions, and we'll address as many as time allows during the Q&A session. The notice of the meeting and Internet availability of the proxy materials were mailed by Broadridge beginning December 17, 2021, and went out to all shareholders of record as of December 15, 2021. As a result, the meeting is being held pursuant to proper notice. A list of all shareholders entitled to vote as of the record date, December 15, 2021, has been filed and certified by the inspector of election. We have received proxies representing 13,902,058 shares or approximately 69% of the 20,168,796 shares of the company's stock that are eligible to vote. As this is more than a majority of the shares entitled to vote, it means that we do have a quorum present, and the meeting is duly constituted and will proceed. Today, we have 2 management proposals for you to consider, and they're both described in the proxy materials previously provided to you for today's meeting. Copies of the company's notice of the annual meeting, proxy statement and annual report on Form 10-K for the year ended August 31, 2021, are each available for inspection upon request to the inspector of election. The first item is the election of directors. The following 5 people have been properly nominated by our Board: Walter S Woltosz; Dr. John K. Paglia; Dr. Daniel Weiner; Dr. Lisa LaVange; and Charlene Evans. The Board recommends a vote for each nominee. The second item is to ratify the selection of Rose, Snyder & Jacobs LLP, or RSJ, as our independent registered public accounting firm for the fiscal year ending August 31, 2022. The Board recommends a vote for this proposal. It is important to note that the Audit Committee or our Board of Directors may terminate the appointment of RSJ without the approval of the company's shareholders, whenever the Audit Committee or Board deems such termination necessary or appropriate. At this time, with the discussion of the items presented for shareholder consideration being completed, the polls are now closed. I'll now share with you the preliminary voting tabulation. First, all 5 director nominees on the ballot are elected with over 99% of votes cast. They'll each serve as directors on our Board until the company's next Annual Meeting of Shareholders or until their successors are elected and qualified. The second proposal, ratification of the company's auditor, RSJ, has been approved by over 98% of votes cast. We expect to post the details of the final voting results on both of these matters on our Investor Relations website on Monday. We'll also report the results in a Form 8-K that will be filed with the Securities and Exchange Commission within 4 business days of today's date and no later than February 16, 2022. With that, we've completed the formal portion of the meeting, so I will hand it back over to Shawn for the Q&A portion of the meeting.

Thanks, Will. Welcome to the Q&A portion of the meeting. Since we didn't receive any questions from shareholders, this concludes today's Q&A session and wraps up our Annual Shareholders' Meeting. Thank you again for joining us today and for your support of all our proposals. If you have any further questions, please visit our Investor Relations website. Thank you.