Tandem Diabetes Care, Inc. (TNDM) Earnings Call Transcript & Summary

Welcome to the Tandem Diabetes Care, Inc. 2021 Annual Meeting of Stockholders. I will now hand the call over to Mr. Kim Blickenstaff, Chair of Tandem's Board of Directors.

Thank you. Good afternoon. Thanks for joining Tandem Diabetes Care's 2021 Annual Meeting of Stockholders. I'm Kim Blickenstaff, I'm the Chair of the Tandem's Board of Directors. And you'll likely know, historically, we usually held our Annual Meetings of Stockholders in person at our principal corporate office in San Diego. However, like last year, the COVID-19 pandemic has caused us to hold this year's meeting in this virtual format to protect the health and well-being of our stockholders, directors and employees. We appreciate your flexibility and accommodating this change. I'd like to now turn it over to John Sheridan, our President and Chief Executive Officer, who will be presiding as Chair of this annual meeting. John?

Thank you, Kim. Good afternoon, everyone, and thanks for attending. On behalf of the entire Tandem organization, I would first like to take a moment to thank our employees for working diligently through the COVID-19 pandemic crisis for the benefit of tandem's customers, stockholders and other constituents. Joining me today in this meeting are Susan Morrison [Audio Gap] David Berger, Executive Vice President, Chief Business Operations and Compliance Officer and Secretary; and [Audio Gap] A copy of the rules of conduct for the meeting is available on the virtual meeting site. As described in the notice and proxy statement previously distributed, you are entitled to participate in and vote at this meeting, if you are a shareholder as of close of business on March 23, 2021, which is the record date for this meeting. If you have a 16-digit voting control number and you wish to vote during the virtual meeting, you may do so by following the instructions on your screen. Please insert your voting control number and follow the prompts. You may also ask questions at any time during the meeting, if you register with your 16-digit voting control number. Please follow the instructions on your screen to submit a written question. Questions will be restricted to the procedures for the meeting and specific proposals under consideration. In addition, electronic copies of the notice and proxy statement relating to the annual meeting as well as our 2020 annual report are available for your review. You may access these documents by clicking on the investor center portion of our website under Events & Presentations. An agenda that outlines the order of business for the meeting is also displayed on the screen. There are 3 items on today's agenda: Proposal 1, the election of 3 Class II directors, Dick T. Allen, Rebecca B. Robertson, [indiscernible] S. Sodi for the 3-year term to expire at the 2024 annual meeting of Stockholders; Proposal #2, the ratification and the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021; and Proposal 3, the approval on a nonbinding advisory basis of the compensation of our named executive officers as described in the proxy statement. David Berger, who is also Tandem's Corporate Secretary, will act as secretary and inspector of elections for this meeting. David has taken the necessary oath and has advised us that we have a quorum present. Accordingly, this is an official meeting, and we can proceed with our business. [Audio Gap] an announcement will be made regarding the preliminary voting results, and the formal meeting will be adjourned. If you want to change your vote, please cast your electronic vote using the instructions on your screen. Electronic votes will be tallied after we have voted on all the matters on the agenda. Upon receipt of the voting results, the polls will be officially closed. The electronic votes cast today will be counted in the final tally along with the proxies previously received. We will announce the preliminary results of the voting at the end of the meeting. The polls are now open for the 3 items of business at 3:05 p.m. on May 18, 2021. As a reminder, the first item of business is the election of 3 Class II directors for a 3-year term to expire at the 2024 Annual Meeting of Shareholders. The second item of business is the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. The third item of business is the approval of a nonbinding advisory basis -- of the compensation of our named executive officers. Voting is by proxy and electronic ballot. Each share of common stock is entitled to 1 vote. If you have already submitted your proxy now unless you wish to change your vote [Audio Gap] Please make sure you have your 16-digit voting control number and [Audio Gap] on your screen. We will now provide some additional time for the submission of votes. [Voting]

There being no further business to come before the meeting. I declare the polls are now closed for all items of business as of 3:06 p.m. on May 18, 2021. The proxies and electronic ballots [Audio Gap] entertain any appropriate shareholder questions at this time. [Audio Gap]

There are no questions at this time.

Okay. Great. Since there are no questions from our shareholders, we will now move to proceed with the preliminary building results. Based on the preliminary information provided by the inspector of elections, I can report that, each of the Class II nominees for the Board of Directors has received an affirmative vote of the majority of the outstanding shares of our common stock present in person or represented by proxy and entitled to vote on this proposal. And each is, therefore, duly elected for the 3-year term to expire at the 2024 Annual Meeting of Stockholders. The proposal to ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021, has received the affirmative vote of the majority of the outstanding shares of our common stock present, virtually or represented by proxy and entitled to vote on their proposal and is therefore adopted. The proposal to approve in a nonbinding advisory basis, the compensation of our named executive officers has received the affirmative vote of the majority of the outstanding shares of our common stock present virtually or represented by proxy and entitled to vote on the proposal. This is an advisory vote, it will not require us to take any action regarding our executive compensation practices. However, we value the opinion of our shareholders, and we'll carefully consider the outcomes of this advisory vote. The final voting, including any ballots and proxies recorded during this meeting will be set forth in a report of the inspector of election and will be included in the minutes of the meeting. The final results will also be reported in a current [Audio Gap] report on Form 8-K to be filed with the SEC within 4 business days following this meeting. Before adjourning, I would like to thank each stockholder who has submitted a proxy or voting [Audio Gap] for this meeting, I would especially like to thank those stockholders who were able to attend this meeting virtually. Thank you for your continued [Audio Gap]

for joining the annual Meeting of Tandem Diabetes, Inc. 2021 stockholders. This meeting has concluded. You may now [Audio Gap]