DICK'S Sporting Goods, Inc. (DKS) Earnings Call Transcript
June 10, 2020
Earnings Call Speaker Segments
Hello, and welcome to the 2020 Annual Meeting of Stockholders of DICK'S Sporting Goods. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Mr. Ed Stack, Chairman and CEO of DICK'S Sporting Goods. Mr. Stack, the floor is yours.
Good morning, and welcome. I'm Ed Stack, Chairman and CEO of DICK'S Sporting Goods and chairman of today's meeting. This year, we are holding our annual meeting in an all-virtual format. Shareholders with a proxy control number may submit written questions regarding the company's business at any time on the virtual meeting website. Shareholders may also submit a question to Deloitte & Touche, our independent auditor. We will post the questions submitted during the meeting and the answers to those questions on our investor website shortly after the meeting. I would now like to call to order the 2020 Annual Meeting of Stockholders of DICK'S Sporting Goods and open the polls for voting. John Hayes is the company's General Counsel and will act as the secretary of the meeting. John, can you confirm that the notice of this meeting was properly given and that a quorum is present?
Yes, the notices were mailed in accordance with the bylaws beginning on April 29, 2020. The notices went to all shareholders of record as of April 13, 2020. We have received proxies representing more than 92% of the roughly 300 million votes entitled to be cast at this meeting. This means we have a quorum present and the meeting may proceed. All stockholders entitled to vote at this meeting have the ability to do so online. If you're a stockholder entitled to vote and have not yet voted or if you want to change your previously cast vote, you may do so now through the virtual meeting website. Please remember that if you have already voted by proxy, it is not necessary to vote again. If you plan to vote at this meeting, please vote now because the polls will be closed after I have presented the proposals. After the presentation of the proposals, I will also provide the preliminary voting results.
There are 3 matters to be voted on at this annual meeting. John, please present the proposals and the Board of Directors' recommendations.
The first proposal is the election of 3 Class C directors, each for a term that expires in 2023. The Board's nominees are Edward W. Stack, Lauren R. Hobart and Lawrence J. Schorr. The second proposal is the ratification of the appointment of Deloitte & Touche as the company's independent registered accounting firm for fiscal 2020. And the third proposal is an advisory vote to approve executive compensation as described in the proxy statement. The Board recommends a vote for each of the nominees and recommends a vote for the second and third proposals. I will now pause briefly to allow shareholders an opportunity to cast their votes if they have not previously done so. [Voting]
Thank you to all who have voted. The polls are now closed, and I will share the preliminary voting results. First, all nominees on the ballot to serve as director have been elected. Furthermore, the ratification of the company auditor, Deloitte & Touche, and the advisory vote on executive compensation have been approved. We will disclose the details of the final voting results in a Form 8-K to be filed with the Securities and Exchange Commission within 4 business days.
Thank you, John. The formal business of the meeting has concluded, and the meeting is now adjourned. Any response to questions you may have submitted during the meeting will be posted on our website. Thank you again for your attendance today and for your continued support of DICK'S Sporting Goods.
This concludes the meeting. You may now disconnect.
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