Snap Inc. (SNAP) Earnings Call Transcript & Summary

Good afternoon, everyone, and welcome to Snap Inc.'s 2020 Stockholders Meeting. Atul Porwal, you may begin.

Good afternoon. My name is Atul Porwal, and I'm Associate General Counsel of Snap Inc. I'm very happy to welcome you to the Snap Inc. 2020 Annual Stockholders Meeting. We've invited members of our Board and management team who are joining us on our call today. We have also invited holders of our Class A common stock to participate in today's meeting. We have approximately 234,447,974 shares of our Class B common stock present for today's meeting, representing approximately 99% of the voting power of our capital stock. The meeting will now officially come to order. We'll proceed with the business of the meeting as set forth in the information statement we filed with the SEC on June 19, 2020. The only item on today's agenda is to present the results of an action by written consent by certain stockholders. Today, the holders of an aggregate of 234,447,974 shares of our Class B common stock, representing approximately 99% of the voting power of our capital stock, acted by written consent to elect the following 10 individuals to our Board of Directors: Evan Spiegel, Robert Murphy, Michael Lynton, Kelly Coffey, Joanna Coles, A.G Lafley, Stanley Meresman, Scott Miller, Poppy Thorpe and Christopher Young. Each of these individuals will serve until the 2021 annual meeting of stockholders until his or her successor is elected or as sooner until the Director's death, resignation or removal. Additionally, pursuant to this action by written consent, the holders ratified the selection by the Audit Committee of our Board of Directors of Ernst & Young LLP as our independent registered accounting firm for the fiscal year ending December 31, 2020. We expect to report the results of this stockholder written consent in a filing with the SEC within 4 business days. There is no other business pending before stockholders. I will now officially adjourn today's meeting. As a reminder, we'll be discussing our second quarter 2020 earnings results on Tuesday, July 21, at 2 p.m. Pacific. We invite all stockholders to listen into that discussion via the link on our Investor Relations website. We did not receive any questions from our stockholders for the annual meeting so this concludes today's meeting. Thank you for joining us today.

This concludes Snap Inc.'s 2020 Annual Stockholders Meeting. Thank you for attending today's session. You may now disconnect.