Titan Machinery Inc. (TITN) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. I am David Meyer, Chairman of the Board and Chief Executive Officer of Titan Machinery. It is a pleasure to call to order and welcome you to our 2021 Annual Stockholders Meeting. We're very pleased that this year, our stockholders are able to attend the meeting online. This virtual format provides for a safe form and allows for greater access to the meeting by our stockholders. If any stockholder would like to make a comment regarding any of the proposals or ask a question regarding our business, please submit your comment or question through the web portal. After the formal a portion of the meeting, we will answer questions as presented. Based on the information provided by our inspector of election, we have a quorum for the meeting. In addition, an affidavit of mailing has been provided by Broadridge Financial Solutions, certifying as to the giving of notice for this meeting, and then sending to stockholders of record as of April 9, 2021, the notice of availability of proxy material, all of which Broadridge commenced distributing to stockholders on April 26, 2021. Based upon the foregoing, I now declare this annual meeting lawfully convened. The agenda posted in the portal outlines the order of business for the meeting. The meeting from last year -- the minutes from last year's meeting and the rules of conduct for this meeting have also been posted to the portal. Finally, a list of the holders of record of the company's common stock at the close of business on the record date for this 2021 Annual Stockholders Meeting is available for inspection during this meeting by any stockholder on the website used to access this meeting. I would like to introduce the officers and directors of the company. Officers: Mark Kalvoda, CFO; Bryan Knutson, COO; and Steve Noack, General Counsel and Corporate Secretary; Directors, Tony Christianson, Stan Dardis, Christine Hamilton, Director Nominees, Stan Erickson, Jody Horner, Richard Mack. I would also like to introduce Jared Bickler and Kelsey Swanson from our independent auditor, Deloitte & Touche. The matters on which the stockholders at this meeting are voting on are: one, elect 3 directors for a 3-year term; 2, conduct an advisory vote on a nonbinding resolution to approve the compensation of our named executive officers; 3, ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending January 31, 2022; and fourth, transact such other businesses may properly come before the annual meeting or any adjournment or postponement thereof. It is now 9:03 Central Time on June 7, 2021, and the polls for voting on all matters are open. Any stockholder who hasn't yet voted or wishes to change your vote, may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet do not want -- and do not want to change their vote, do not need to take any further action. I will pause shortly for any final votes. [Voting]

The polls are about to close. So if you have not yet voted, please do so now. [Voting]

Now that everyone has had an opportunity to vote. I now declare the polls for the 2021 Titan Machinery Inc. Annual Stockholder Meeting closed at 9:05 a.m. Central Time on June 7, 2021. On the basis of the preliminary report of the inspector of election, I declare that Stan Erickson, Jody Horner, and Richard Mack have each been elected as Class II directors. I also declare that the stockholders have approved on an advisory basis, the compensation of the company's named executive officers. I also declare that the stockholders have ratified the appointment of Deloitte & Touche as company's independent registered public accounting firm for the fiscal year ending January 31, 2022. We will file the final report of the inspector of elections with the records of this meeting. This concludes the formal part of the meeting. Now we would like to open up things for the stockholder questions and comments as entered today on the web portal. Please note that any questions that are germane to this meeting will be addressed. Before answering any questions, I'd like to caution you that certain statements that made may be at this meeting relating to the company's financial performance or indicate our intentions, beliefs or expectations of future performance are forward-looking statements, and the company's actual results could differ materially from those projected. We encourage you to review the cautionary statements contained in our periodic filings with the Securities and Exchange Commission.

There are no questions.

There are no questions, so that concludes our question-and-answer portion of the meeting. There being no business to come before the meeting, the 2021 Annual Meeting of Stockholders of Titan Machinery, Inc. is now adjourned. We thank you for your attendance and continued support of our company. Well.