Seth Weisberg – Chief Legal Officer
Matthew A. Lipson – Vice President - Legal Affairs
Stamps.com Inc. (STMP) 2012 Annual Meeting of Stockholders Conference Call June 13, 2012 1:00 PM ET
Good day ladies and gentlemen and welcome to Stamps.com 2012 Annual Meeting of Stockholders. At this time, all participants are in a listen-only mode. (Operator Instructions) As a reminder this conference call maybe recorded. I would now like to hand the conference over to Mr. Seth Weisberg, Chief Legal Officer and Secretary. Sir, you may begin.
Thank you very much. Good morning. My name is Seth Weisberg, as Chief Legal Officer and Secretary of Stamps.com I’m pleased to call this annual meeting of stockholders to order and to welcome you. I will act as Chairman of this meeting and Matt Lipson our VP of legal affairs will act as Secretary of the meeting. Mr. Jim Hunter of Computershare is hereby appointed Inspector of Elections for the meeting. This meeting is being held pursuant to the written notice, which was mailed around May 3, 2012 together with our proxy statement related to the company’s annual meeting to each stockholder of record at Stamps.com as of the close of business on April 19, 2012. The first order of business is to determine the presence of a quorum.
I hereby present a list of the stockholders of record who are entitled to vote at this meeting, which will remain available for inspection by the stockholders during the course of this meeting. Further, I present copies of the notice of annual meeting and the proxy statement together with an affidavit as for the mailing of such materials to the stockholders. All of which will be filed with the minutes of this meeting.
I have been advised by Mr. Lipson, that there is a quorum of the common stock of Stamps.com present at this meeting. And this meeting having been duly called and convened it is qualified to proceed with the business at hand.
There are three items requiring a vote of our stockholders. The first matter to be acted upon by the stockholders at this meeting is to elect two Directors to the company’s board of Directors. These Directors elected will serve until the company’s 2015 annual meeting of stockholders or until their successors are duly elected and qualified. The individuals who received the greatest number of votes cast for the election by the shares present at this meeting in person or by proxy shall be elected Directors. The nominees recommended by the company’s board are G. Bradford Jones and Lloyd Miller both current Directors of the company. Are there any questions relating to this item?
Since there are no questions or comments on this item I declare the discussion on the matter is closed. The second matter to be acted upon by the stockholders at this meeting is to approve on an advisory basis our executive compensation. Are there any questions relating to the advisory vote on executive compensation?
Since there are no questions or comments on this item I declare the discussion on the matter closed. The third matter to be acted upon by the stockholders at this meeting is to ratify the selection by the board of Ernst & Young as the company’s independent auditors for the 2012 fiscal year. Approval of this proposal requires an affirmative vote of the majority of the shares present in person or by proxy at this annual meeting. Are there any questions relating to the ratification of Ernst & Young as the company’s independent auditors for the 2012 fiscal year?
Since there are no questions or comments on this item I declare the discussion on the matter is closed. I have been advised by Mr. Lipson that based on the proxies in hand the individuals receiving the greatest number of votes and thereby elected to serve as Directors are G. Bradford Jones and Lloyd Miller.
Second our shareholders have approved on an advisory basis our executive compensation. Third more than 50% of the votes present in person or by proxy at this annual meeting have been voted in favor of the ratification of Ernst & Young as the company’s independent auditors for the 2012 fiscal year.
Accordingly, I hereby declare that the three proposals up for consideration at this annual meeting of stockholders have been duly approved and adopted by the stockholders of Stamps.com. There being no further business to come before the meeting, the meeting will be adjourned unless there is any objections.
I hereby declare this meeting adjourned.
We will now end the formal part of our annual meeting and I would like to thank you all for attending. Those in person if you have any questions that you would like to ask us afterwards you are welcome to.
[No Q&A session for this event]
Ladies and gentlemen, thank you for participating in today’s conference. This concludes our program you may all disconnect and have a wonderful day.