SiteOne Landscape Supply, Inc. (SITE) Earnings Call Transcript & Summary

Good morning, and welcome to the 2021 SiteOne Landscape Supply Annual Stockholders' Meeting. I would now like to turn the call over to Mr. Doug Black, President and CEO. Mr. Black?

Thank you, and good morning to all, and welcome to the 2021 SiteOne Landscape Supply Annual Stockholders' Meeting. In light of the continuing COVID-19 pandemic and for the safety of all of our stakeholders, we determined that this meeting will be held in a virtual meeting format, as we did last year. Safety is our top priority at SiteOne, and we hope that you and your families remain safe during this very challenging time. Also, our thoughts and prayers go out to all of those who have been negatively affected by this disease. Thank you for taking your time to join us today. Before we start the meeting, I'd like to make a few introductions. First, it is my pleasure to introduce our Board of Directors, who are all in attendance today. They are Fred Diaz; Bill Douglas, who is our Lead Director; Larisa Drake; Roy Dunbar; Jeri Isbell; and Jack Wyszomierski. Next, I would like to introduce Briley Brisendine, who is our General Counsel and Corporate Secretary. Finally, I'd like to recognize Pam Blackburn and Joseph Waters of Deloitte & Touche and the -- the company's independent auditor, who are also in attendance today. We'll begin today's meeting with the formal business portion. This consists of the election of director nominees named in the proxy statement, ratification of Deloitte as the company's independent auditor for 2021 and consideration of the company's say-on-pay proposal. After that, we will provide time for questions. Stockholders may submit questions in the designated field on the web portal. And I will read and answer any questions that we received. I now officially call the 2021 SiteOne Landscape Supply Annual Meeting of Stockholders to order. Briley is serving as secretary of the meeting. And Broadridge Financial Solutions is our inspector of elections. As of March 16, 2021, which is the record date for the meeting, there were approximately 44,392,274 shares of the company's stock entitled to vote. A majority of these shares is needed for a quorum. Over 96% of these shares are represented today. Therefore, we have a quorum. If you haven't voted yet and would like to vote today, you may do so by clicking on the voting button on the web portal and following the instructions there. If you voted already, you don't have to vote again. I now declare the polls open for voting. Proposal #1. The first item of business is the election of directors, which is item 1 on your ballot. The Board has nominated the individuals named in the proxy statement to serve for a 3-year term through 2024 Annual Meeting. Your Board recommends that you vote for both of these nominees. We'll now move on to the next proposal, proposal #2. This item is the ratification of the appointment of Deloitte & Touche as the independent auditors of the company for fiscal year 2021, item 2 on your ballot. Your Board recommends that you vote for this proposal. We'll now move on to the next proposal, proposal #3. This item is the advisory vote on executive compensation, also known as say-on-pay, which is item 3 on your ballot. Specifically, you are being asked to approve the compensation of the company's named executive officers as disclosed in the proxy statement for this meeting. Your Board recommends that you vote for this proposal. We'll now move on to the preliminary voting results. The ballots have been collected, and the polls are now closed. I'll now ask Briley to review the preliminary voting results. Briley?

Thank you, Doug. The preliminary voting results for the company proposals are as follows. Both of the director nominees named in the proxy statement have been elected to serve for a 3-year term through to 2024 Annual Meeting. Over 99% of the votes cast have voted in favor of the ratification of the appointment of Deloitte & Touche. And approximately 97% of the votes cast have voted in favor of the compensation of the company's named executive officers. Based on the preliminary vote count, all of the nominees for the Board of Directors have been elected, the appointment of Deloitte & Touche as the company's independent auditors for fiscal 2021 has been ratified, and a majority of votes cast approved our executive compensation. Please note that any ballots collected on the web portal will be verified and tabulated by our inspector of elections. Final results of the vote will be available in a Form 8-K, which we'll file within 4 days after this meeting. Doug?

Thank you, Briley. This concludes our formal business, and I declare the meeting adjourned. At this time, we would like to open things up for stockholder questions that could be submitted on the web portal by stockholders in attendance today. Okay. It looks like there's no questions. Again, we're available at any time to answer any questions that come up in the future. But this concludes the Q&A portion of the meeting and concludes our annual meeting. We thank everybody for your support. We're very excited about SiteOne and our future and look forward to updating you throughout the year. Thank you for your attendance and support of SiteOne.

Thank you for attending the 2021 [ SiteOne Landscape Supply Annual Stockholders' Meeting ].