Commvault Systems, Inc. (CVLT) Earnings Call Transcript

Thank you for standing by, and welcome to the Commvault Systems 2022 Annual Shareholder Meeting. [Operator Instructions] I would like to hand the conference over to your speaker today, Mike Melnyk, Head of Investor Relations. Please go ahead, sir.

Good morning, ladies and gentlemen. I want to welcome all of you to Commvault's Annual Meeting of Stockholders. I'm Michael Melnyk, Head of Investor Relations at Commvault. I'll be presiding over and serving as secretary for the meeting. With us today are [ Adela Foresight ] from Computershare, who has been appointed to act as the election inspector; and Maureen Bashara from E&Y. I'd also like to welcome members of the company's management team and Board of Directors who are present at this meeting. Please note that the Corporate Secretary has delivered an affidavit of mailing, establishing that notice of this meeting was duly given. All stockholders of record at the close of business on June 30, 2022, the record date, are entitled to vote at this meeting. As of the record date, there are approximately 44.8 million shares of stock entitled to vote at this meeting. We are informed by Computershare that they are representing in person or by proxy, at least 42.8 million shares of common stock or approximately 95% of all the shares entitled to vote at this meeting. As this constitute the majority, the meeting is duly convened for purposes of transacting such business as may properly come before it. The matters to be voted on at today's meeting are: the first proposal is to elect 6 nominees as directors to serve 1-year terms. This election represents the second year of our destaggering effort, which was approved by stockholders at the 2020 Annual Meeting. The nominees for election are: Sanjay Mirchandani, Nicolas Adamo, [ Mark DeVeer ], Keith Geeslin, Vivie Y.Y. Lee and David Walker. The second proposal is the ratification of the selection of Ernst & Young LLP as the company's independent auditors for fiscal year 2023. The third proposal is an amendment to our 2016 Omnibus Incentive Plan, which would increase the number of shares reserved for issuance under the plan by $1 million. The final proposal is to approve on a nonbinding advisory basis the compensation of the company's named executive officers as reported in the company's proxy statement. The Board of Directors recommends that stockholders vote for each of the proposals outlined here. If any stockholder would like to make a comment regarding any of the proposals, please do so at this time as the polls will -- the polls will close momentarily. If you previously voted by proxy, you do not need to vote unless you wish to change your vote. If you have not yet voted, you may do so at this time by completing the ballot available on our website e-mailing it to us at annualmeetinginfo@commvault.com. And now we'll pause for voting. [Voting]

Now that everyone has had the opportunity to vote, I hereby declare the polls closed. We have been informed by the election inspector that the preliminary results have been counted. And with over 95% of shares voted, all proposals have been approved. Final results will be publicly available once the votes have been certified by the election inspector. Thank you for attending today's meeting. The meeting is adjourned. Michelle, I'll turn it back to you. Thank you.

Ladies and gentlemen, this concludes today's meeting. Thank you for participating. You may now disconnect. Everyone, have a great day.