SWK Holdings Corporation (SWKH) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of SWK Holdings Corporation. please note that today's meeting is being recorded. [Operator Instructions]. It is now my pleasure to turn today's meeting over to Jody Staggs, President and CEO of SWK Holdings Corporation, who will be serving as Chairman of the Meeting. Mr. Staggs, the floor is yours.

Good morning, ladies and gentlemen. I am Jody Staggs, President and CEO of SWK Holdings Corporation, and I would like to welcome you to the 2024 Annual Meeting of Stockholders. It is now 9:00 a.m., and I would like to call this meeting to order. I would like to begin by introducing the members of our Board and senior management who have joined us today: Jerry Albright, Director; Laurie L. Dotter, Director; Robert K. Hatcher, Director; Marcus E. Pennington, Director. I would also like to introduce you to Syed Hussaini, a representative of Computershare, our transfer agent, who has been appointed to serve as Inspector of Elections for the meeting. Mr. Hussaini has taken the oath of office, which will be filed with the minutes of this meeting. This meeting is for the company's stockholders and guests. Each of you have registered through the webcast portal as you joined the meeting. On the webcast dashboard, you can download the agenda for the meeting, including the rules of conduct for the meeting. To conduct an orderly meeting, we request that you abide by those rules. As stated in the rules of conduct, stockholders can make comments or ask questions during the meeting through the messaging icon on the webcast dashboard. Questions about the proposals will be addressed during the meeting while the polls are open for voting on the proposals. All other questions will be answered during the question-and-answer session following the meeting. If the Chairman or Secretary elects to answer the question on the webcast, he will repeat the question for the webcast audience, and we'll address it. Thank you for your cooperation with these rules. The Board of Directors has fixed April 15, 2024, as the record date for determining stockholders entitled to receive notice of and to vote at the meeting. A complete list of stockholders of the company entitled to vote at this meeting has been kept on file at the offices of our transfer agent and at the offices of the company, subject to inspection by stockholders. The Notice of Meeting and proxy statement and the 2023 annual report on Form 10-K were first mailed to our stockholders on April 26, 2024. An affidavit as to the mailing of such material will be filed with and made a part of the minutes of this meeting. As stated in the notice, the purpose of this meeting are as follows: the election of Jerry Albright, Laurie L. Dotter, Robert K. Hatcher and Marcus Pennington as Directors of the company to serve until our 2025 Annual Meeting of Stockholders and until their respective successors have been elected and qualified or until their earlier resignation, death or removal; second, the ratification of the appointment of BPM LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024 and third, to approve on an advisory basis of the compensation paid to certain executive officers. There were outstanding on the record date, a total of 12,476,749 shares of common stock. Mr. Hussaini has advised me that a majority of the voting power of all the shares of common stock entitled to vote are present in person or by proxy. Accordingly, a quorum is present and the meeting is duly convened. We will now proceed with voting on the 3 items of business described in the proxy statement. The polls are now open. Persons who have not voted by proxy or who wish to change a vote from that previously recorded, you can vote or change your vote through the webcast portal. The ballots will be automatically tabulated by Computershare during the meeting. Again, in order to be eligible to vote during the virtual meeting, you must either have been a record holder of stock as of April 15, 2024, and or have a legal proxy from a record holder of stock as of April 15, 2024, and have registered for the webcast using your proxy control number and meeting password. The polls will remain open for approximately 2 minutes. Stockholders can ask questions about the proposals through the messaging icon on the webcast dashboard while the polls are open. We will pass for approximately 2 minutes. [Voting] The polls are now closed. Mr. Hussaini, will you please report on the results of the voting?

Mr. Chairman, based upon all the proxies and ballots received prior to commencement of the meeting and subject to final adjustment of the numbers for any ballots collected here today, I can tell you that Jerry Albright, Laurie L. Dotter, Robert K. Hatcher and Marcus Pennington have been duly elected as Directors of the company to serve until the company's 2025 Annual Meeting of Stockholders and until their respective successors have been elected and qualified or until their resignation, death or removal. The ratification of appointment of BPM LLC has been approved by the affirmative vote of at least a majority of the total number of shares represented and entitled to vote. And the advisory vote to approve the compensation to certain executives has been approved by the affirmative vote of at least a majority of the total number of shares represented and entitled to vote.

The Inspector of Elections will conduct a final count of all votes on these matters, and the final results will be included in the minutes of this meeting and filed on a current report on Form 8-K within 4 business days of the date of the meeting. This concludes the formal part of the meeting. I declare the meeting adjourned. We are ready to open the floor to questions. As a reminder, if any stockholder has questions or comments specifically relating to this vote, please submit a question through the message icon on the webcast dashboard to be recognized. Moderator or counsel, do we see any questions? With no questions, our program has now concluded. Thank you for attending today's meeting and for your continuing support of the company. This concludes the meeting. You may now disconnect.

Thank you, Jody.