TPG RE Finance Trust, Inc. (TRTX) Earnings Call Transcript & Summary

Good day, and welcome to the TPG RE Finance Trust, Inc. Annual Meeting of Stockholders. I would now like to turn the conference over to Greta Guggenheim, Chief Executive Officer. Please go ahead.

Good morning, and welcome to the 2020 Annual Meeting of Stockholders of TPG Real Estate Finance Trust. The meeting is now called to order. Of the 76,650,996 shares entitled to vote at this annual meeting, approximately 67% or 52 million are represented today, either in person or by proxy. Deborah Ginsberg, Vice President, General Counsel and Secretary of the company, will act as secretary for this meeting. Kevin Chau of the Carideo Group, will act as inspector of election for this meeting. Mr. Chau has subscribed and filed his oath of office for purposes of this meeting. The secretary of the meeting has presented the following documents: a certified list of holders of common stock of the company as of the close of business on May 11, 2020, the record date for determining the stockholders entitled to notice of and to vote at this meeting; and an affidavit of Joanne Vogel, an employee of Broadridge Financial Solutions, Inc. as to the mailing on or about May 15, 2020, of the company's proxy materials for this meeting. The secretary will file these meetings with the minutes of the -- will file these materials with the minutes of the meeting. Please keep in mind that as this year's meeting is in virtual-only format, you will be able to submit questions that we will answer at the appropriate time later in the meeting as long as questions are relevant to the meeting and adhere to the rules of conduct, which can be accessed via the web portal. The secretary has informed us that a quorum is present at the meeting, and I declare the meeting duly and lawfully convened. We will now proceed with the business of the meeting. First, the corporate record will reflect that the following directors of our company are participating in this meeting by telephone: Avi Banyasz, Kelvin Davis, Michael Gillmore, Wendy Silverstein, Bradley Smith and Gregory White. Also participating in this meeting by telephone today is Robert Foley, our Chief Financial and Risk Officer. Eric Rubin, of Deloitte & Touche, our independent registered public accounting firm, is participating in this meeting by telephone and is available to respond to appropriate questions raised by stockholders and make a statement, if desired. In addition, David Freed and Zach Swartz of Vinson & Elkins, our corporate counsel, are participating in this meeting via telephone today. The only formal items of business on the agenda for today's meeting are the 3 proposals described in the company's proxy statement for this meeting. The company has not received notice from any of its stockholders of any matter to be considered at today's meeting, and therefore, no other proposals may be properly introduced by stockholders. I now declare the polls open for voting at this meeting. If you wish to vote at the meeting and have not yet done so, you may click on the voting button on the web portal and follow the instructions there. The polls will remain open until immediately after any discussion on today's proposals. The first item of business is the proposal for the election of the 7 director nominees named in the company's proxy statement for this meeting. These nominees are: Avi Banyasz; myself, Greta Guggenheim; Kelvin Davis; Michael Gillmore; Wendy Silverstein; Bradley Smith; and Gregory White. Each of these individuals currently serves as a director of the company. No other director nominees have been proposed. Are there any questions or remarks regarding the nominees? We will now move to the next item on the agenda. Next on the agenda is a proposal to ratify the appointment of Deloitte & Touche as the company's independent registered public accounting firm for 2020 as described in the company's proxy statement for this meeting. Are there any questions or remarks regarding the ratification of the appointment of Deloitte & Touche as the company's independent registered public accounting firm for 2020? We will now move to the next item on the agenda. Next on the agenda is a proposal to approve on a nonbinding advisory basis, the compensation of the company's named executive officers as disclosed in the company's proxy statement for this meeting pursuant to the compensation disclosure rules of the SEC. Are there any questions or remarks regarding this proposal? We will now move to the next item on the agenda. The matters to be voted on are now properly before this meeting. Let's proceed with voting. The voting required to approve each proposal is as described in the company's proxy statement for this meeting. Unless there are any questions regarding the voting procedure, we will now close the polls and proceed to the report of election results. I will now ask the secretary if there's any questions received via the portal.

Thanks, Greta. There are no active questions.

Thank you. Hearing no questions, I ask each stockholder who plans to vote at the meeting to please click on the voting button on the web portal and follow the instructions there, if you have not already done so. If you submitted a proxy prior to the meeting, you do not need to do anything at this time. [Voting]

I now declare the polls closed. Kevin, are there any votes that you need to report that weren't received prior to this meeting?

No.

Based on the preliminary tabulation submitted by the inspector of election, each of the 7 director nominees described in the company's proxy statement has been elected to the company's Board of Directors. The proposal to ratify the appointment of Deloitte & Touche as the company's independent registered public accounting firm for 2020 has been approved. And the proposal to approve on a nonbinding advisory basis, the compensation of the company's named executive officers has been approved. The final vote count will be reported on the company's Form 8-K to be filed within 4 business days of today's meeting. We will now continue with a question-and-answer session. I am aware of no other business that should be brought before this meeting and accordingly, hereby adjourn the meeting. We now welcome any questions or comments you may have. We ask that you please observe the rules of conduct that appear on the web portal.

Greta, there are no active questions.

Thank you. This concludes the 2020 Annual Meeting of Stockholders. Thank you all for your attendance online or telephonically.

And you can disconnect the line. Thank you.

Thank you. The conference has now concluded. You may now disconnect your lines.

Thank you, everyone, for participating.