Trupanion, Inc. (TRUP) Earnings Call Transcript & Summary

Greetings, and welcome to the Trupanion 2021 Annual Shareholder Meeting. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Matt Karwoski, Associate General Counsel. Thank you. Matt, you may begin.

Thank you. Welcome to our 2021 Annual Meeting of Stockholders, which I now call to order. My name is Matt Karwoski, Associate General Counsel of Trupanion, and I am serving as Chair of this meeting. We will first briefly address the formal business at the statutory meeting. We will then transition to our signature informational session, including management presentations and extended question-and-answer sessions, which will provide an opportunity to learn more about our business, meet our team, ask questions and otherwise engage with us. Today's meeting is being broadcast via a live video stream on our website at investors.trupanion.com. Joining us today, either in person or remotely are Trupanion board members and management of Trupanion as well as representatives of Ernst & Young LLP, our independent auditors. For this formal portion of today's annual meeting, we will briefly address procedural matters relating to the formal business and relay voting results. Following these agenda items, we will adjourn and begin the informational session. Following the resignations of Robin Ferracone and Hays Lindsley from our Board, which resignations are effective today, our remaining Class I director, Jacqueline Davidson, is up for election today. We will also consider whether to ratify our independent auditor and conduct a say-on-pay vote on executive compensation. Tricia Plouf, our Co-President and Chief Financial Officer, has been appointed to act as the Inspector of Elections for this meeting and executed the Oath and Inspector of Elections. If any stockholders or proxy holders present in person today have not registered the presence at registration earlier this morning, please do so at this time. The notice of meeting and the proxy statement for this meeting were provided to all the company's stockholders of record as of the close of business on April 20, 2021. A declaration of mailing will be included with the minutes for this meeting. The Inspector of Elections has advised me that holders of a total of at least 36,565,747 shares of common stock are represented at this meeting in person or by proxy, which constitutes a quorum. This meeting is authorized to transact business. Stockholders may now make statements or ask questions pertaining to Trupanion or any of the meeting proposals. But if any stockholder has any matter of individual concern, please raise it after this portion of the meeting or during the Q&A session happening later today with our leadership team because we'll have opportunity for greater discussion at that time. While electronic voting closed at 11:59 p.m. Eastern last night, the polls are open for any stockholder present or represented in person today. Any such stockholder who has not returned a proxy or who wishes to revoke a proxy may do so now and vote on the matters to be considered at this meeting. [Voting]

We will now move to the next agenda item, the voting results. The first item of business is to elect 1 director nominee, Jacqueline Davidson, to serve as a Class I director until our annual meeting in 2024 or until her successor is duly elected and qualified. Ms. Davidson will be elected by a plurality of the votes cast at this meeting. The second item is to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the year ending December 31, 2021. The affirmative vote of at least a majority of the shares of common stock cast is required to ratify this appointment. The third item is to approve the advisory and nonbinding vote on the compensation of our named executive officers. The affirmative vote of at least a majority of the shares of common stock cast is required to approve this proposal. At this time, the polls are now closed. All votes have been cast on the matters to be considered at this meeting. Tricia, as Inspector of Elections, will you please report on the results of the voting?

The results of the voting are as follows: Ms. Davidson has received the highest number of for votes cast and has been elected to the Board of Directors. The proposal to ratify the appointment of Ernst & Young LLP has been approved by a vote of more than 50% of the votes cast. And the advisory and nonbinding vote on compensation of our named executive officers has been approved by more than 50% of the votes cast.

Thanks, Tricia. This completes the formal business to be conducted at this meeting. We'll now turn to our signature informational session with leadership, which is being conducted in person as well as via a Zoom webinar. For those who have registered and received a link to participate in the interactive stockholder presentations, we encourage you to log on to the event immediately following adjournment of this meeting, if you've not already done so. The presentations can also be accessed through a live video stream on Trupanion's Investor Relations website at investors.trupanion.com. Since there are no other matters that come before the meeting, the formal portion of today's meeting is now adjourned. With that, I'll hand it over to Laura Bainbridge, who is leading today's meeting. Thank you

Operator, that concludes today's meeting. Thank you.

Thank you.