Teradyne, Inc. (TER) Earnings Call Transcript & Summary

Good day, and welcome to the 2020 Teradyne Annual Meeting of Shareholders. I will now turn the call over to Andy Blanchard, Vice President of Investor Relations. You may begin.

Good morning. The meeting will come to order. It's my pleasure to welcome you to the 2020 Teradyne Annual Meeting of Shareholders. I'm filling in this year for our Chairman of the Board of Directors, Roy Vallee, who's joining remotely due to the COVID-19 pandemic and related travel restrictions. Please note that Mark Jagiela, our CEO; Sanjay Mehta, CFO; and all of our Board members are in attendance. [Operator Instructions] Before asking a question, we invite you to refer to the proxy statement for this meeting, which contains information about the proposals on today's agenda. We are not planning to answer any question, which is not related to the formal business of today's meeting or if the answer to the question is substantially covered in the proxy statement. Pertinent questions will be answered at the end of the annual meeting subject to time constraints. Please submit questions prior to the vote on proposal 3, so that there is sufficient time to collect properly submitted questions. The polls are now closed. The first item of business stated in the notice of the meeting is to elect all of the Board of Directors to the Board.

I move to nominate each of the directors listed in the proxy to serve for a 1-year term or until their earlier resignation or removal.

I second the motion.

A majority of the shares have voted in favor of the motion. The motion is carried. The second item of business as stated in the notice of the meeting is to approve in a nonbinding advisory vote, the compensation of the named executive officers of the company as disclosed in the proxy.

I move that the proposal to approve the compensation of the named executive officers of the company as disclosed in the proxy be approved.

I second the motion.

A majority of the shares have voted in favor of the motion. The motion is carried. The third item of business as stated in the notice of the meeting is to ratify the appointment of PricewaterhouseCoopers as the independent auditor of Teradyne for the fiscal year ending December 31, 2020.

I move that the proposal to ratify the appointment of PricewaterhouseCoopers as Teradyne's independent auditor for fiscal year ending December 31, 2020, be ratified and approved.

I second the motion.

A majority of the shares have voted in favor of the motion. The motion is carried. If there's no further business to come before the meeting, I will entertain a motion to adjourn the formal portion of the meeting.

I move that the formal portion of the meeting be adjourned.

I second the motion.

All those in favor, say aye. Those opposed?

Aye.

Aye.

The meeting -- the motion is carried. The formal portion of this meeting is now concluded. There being no questions, that concludes our meeting. As always, you can reach out to us at [email protected] with any questions you may have about Teradyne. Thank you very much for joining us today.

Thank you. That concludes our meeting. You may now disconnect.