Hello, and welcome to the annual meeting of shareholders of Campbell Soup Company. Please note that today's meeting is being recorded. During the meeting, we will have two question-and-answer sessions. The first will address questions related to the formal agenda items, and the second will address questions related to the operations of the company. Shareholders who signed in with a 15-digit control number may submit questions or comments at any time by clicking on the Q&A tab at the top of your screen. It is now my pleasure to turn today's meeting over to Keith McLoughlin, Chairman of the Board of Directors of the company. Mr. McLoughlin, the floor is yours. Thank you, Operator. Good morning, ladies and gentlemen. I'm Keith McLoughlin, Chair of the Board of Directors on behalf of Campbell Soup Company. Welcome to the 2021 annual meeting of shareholders. I am pleased to convene the meeting. I would like to introduce those with me today: Mark Clouse, President and Chief Executive Officer; Adam G. Ciongoli, Executive Vice President, General Counsel, and Chief Sustainability, Corporate Responsibility, and Governance Officer; and Mick Beekhuizen, Executive Vice President and Chief Financial Officer. All of the incumbent directors who were nominated for re-election by the Campbell Board are participating today via telephone. Let me introduce the director nominees by name: Fabiola Arredondo, Howard M. Averill, John P. Bilbrey, Mark Clouse, Bennett Dorrance, Grant H. Hill, Maria Teresa Hilado, Sarah Hofstetter, Marc A. Lautenbach, Mary Alice Dorrance Malone, Kurt T. Schmidt, and Archbold D. van Beuren. Information about all of the nominees can be found in the proxy statement. Adela Forsyth, an employee of Computershare, is serving as Inspector of Election, and Charlie Brawley, Vice President, Deputy General Counsel, and Corporate Secretary of the Company, will act as Secretary of the Meeting. The company's independent audit is performed and certified by the independent registered public accounting firm of PricewaterhouseCoopers LLP. Terry McClements and Mark Fiore of PricewaterhouseCoopers are present today. Although they have declined to make a statement, they will be available to answer questions regarding the fiscal 2021 audit during the general question-and-answer session later this morning. The Inspector of Election has in her possession an affidavit of mailing attesting that the notice of this meeting was duly given. The Inspector of Election has also reported that more than the majority of shares required for a quorum, as specified in the bylaws, are present either in person or by proxy. Accordingly, a quorum is present, and the meeting is in order to proceed. Let me give a brief overview of how we plan to conduct the meeting. The proposals will be presented in order outlined in our notice of meeting and proxy statement. We will have three management proposals and two shareholder proposals. The proposals are: number one, the election of 13 directors; two, the ratification of the independent registered public accounting firm for fiscal 2022; three, an advisory vote on fiscal 2021 executive compensation, known as Say-on-Pay; fourth, a shareholder proposal regarding the simple majority vote; and five, a shareholder proposal regarding virtual shareholder meetings. Following consideration of the formal agenda items, we will answer any questions submitted online regarding the formal agenda items themselves. We will then report the results of the vote. After we adjourn the formal part of the meeting, as time permits, we will answer questions submitted online regarding the operations of the company. Shareholders who sign in with a 15-digit control number may submit questions by clicking on the Q&A tab at the top of the annual meeting website at any time during the meeting. If you wish to submit a question online regarding the formal agenda items, please note the proposal number to which it relates. Posted on the annual meeting website is an agenda that includes a list of the nominees for director and the resolutions for the other agenda items. The rules for the conduct of the meeting are also posted on the annual meeting website. It is our experience that your adherence to these rules will enhance the overall effectiveness of the meeting. The minutes of the 2020 annual meeting are available for inspection by shareholders upon request. Accordingly, may I have a motion to waive the reading of those minutes and approve them as presented? Mr. Chairman, I so move. I second the motion. All those in favor? Aye. Aye. Opposed? The motion is passed. The minutes are duly approved. Thank you. Now I'll introduce the item of business to be brought before the meeting. The polls for voting are open on the annual meeting website. If you are a registered holder, you may vote by clicking the tab in the annual meeting website entitled "Vote." Shareholders who have already voted by proxy do not need to submit electronic ballots unless you want to change your vote. The first proposal is the election of the 13 director nominees. Directors are elected for a one-year term. The names of such persons have been placed in nomination, and because the secretary has not received any notice of shareholder nominees, I declare that the nominations are closed. The Board of Directors unanimously recommends that shareholders vote for the 13 director nominees named in the proxy statement. The second item on the agenda is the ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal 2022. The Board of Directors unanimously recommends that shareholders vote for this proposal. The third item on the agenda is the advisory vote on fiscal 2021 executive compensation. The SEC requires that shareholders be given the opportunity to cast an advisory vote on executive compensation. As an advisory vote, the outcome is not binding, but it does give shareholders the opportunity to express their views on executive compensation during a given fiscal year. The Board of Directors unanimously recommends that shareholders vote for this proposal. This brings us to the shareholder proposals. The fourth item on the agenda is the shareholder proposal submitted by Kenneth Steiner regarding simple majority vote. We will now connect with John Chevedden, Mr. Steiner's representative, to present his proposal. Out of respect for other shareholders in attendance and to allow time for Q&A, we ask you, Mr. Chevedden, to limit your comments to a period of three minutes and restrict your comments to the proposal before the meeting. I will now ask the Operator to unmute the line to allow Mr. Chevedden to present his proposal. Mr. Chevedden, you are now on the line. Hello. This is John Chevedden. Can you hear me okay? Yes. We can hear you. Yes, sir. Yes, sir. Proposal four, simple majority vote. Shareholders request that our Board of Directors take the necessary steps so that each voting requirement in our charter and bylaws that calls for a greater than simple majority vote be replaced by a requirement for a majority of the votes cast for and against such items. Shareholders are willing to pay a premium for shares of companies that have excellent corporate governance. Supermajority voting requirements have been found to be one of six entrenching mechanisms that are negatively related to company performance, according to "What Matters in Corporate Governance" by Lucian Bebchuk of the Harvard Law School. Supermajority voting requirements are used to block initiatives supported by most shareholders but opposed by status quo management. This proposal topic won from 74% to 88% support at Weyerhaeuser, Alcoa, Waste Management, Goldman Sachs, FirstEnergy, and Macy's. These votes would have been higher than 74% to 88% if more shareholders had access to independent proxy voting advice. The proposals of these proposals included Ray T. Chevedden and William Steiner. This proposal topic also received overwhelming 99% support at the 2019 Ford Motor Company annual meeting. A supermajority voting barrier is always higher than it seems. For instance, a 67% supermajority barrier can amount to an 80% supermajority barrier of the shares that normally cast ballots at the annual meeting. A competitive management has no need to hide behind an 80% supermajority vote barrier. Most companies started to remove their supermajority voting barriers 20 years ago. Campbell Soup is less than 20 years behind in corporate governance. It is a particular disadvantage to the public shareholders of Campbell Soup to have the current supermajority voting requirements at a company like Campbell Soup where insiders hold a sizable minority of the shares. Supermajority voting barriers give the insider minority shareholders a near majority when one includes the shares that do not vote. The insider shareholders can thus block corporate governance improvements that will increase shareholder rights and improve management performance. The management words of resistance next to this proposal could only apply to a company that did not have a large block of insider shares. Please vote yes, simple majority vote proposal four. Thank you, Mr. Chevedden. Operator, please place Mr. Chevedden's line back on mute. After careful consideration, the Board has determined that adopting this proposal would not serve to enhance shareholder value, and therefore, it is not in the best interest of the company or its shareholders. The Board believes that the supermajority provisions in the certificate are protective of shareholders and appropriate. These provisions are designed to provide minority shareholders with a measure of protection against fundamental corporate changes and other self-interested actions by one or more large shareholders. Additionally, these provisions are particularly protective of our shareholders, given that our ownership structure includes significant holdings by the descendants of the company's founder. For more information regarding the Board's position on this proposal, please see the Board's full statement in opposition, which is available on pages 70 and 71 of the company's proxy statement. The Board unanimously recommends a vote against this proposal. The fifth and final item of business is a shareholder proposal submitted by The Humane Society of the United States regarding virtual meetings. We will now connect with Matthew Prescott, a representative of The Humane Society of the United States, to present his proposal. Out of respect for other shareholders in attendance and to allow time for Q&A, we ask you, Mr. Prescott, to limit your comments to a period of three minutes and restrict your comments to the proposal before the meeting. I will now ask the Operator to unmute the line to allow Mr. Prescott to present his proposal. Mr. Prescott, you are now on mute. Thank you so much. I'll actually keep our comments to under 30 seconds if that's helpful. I think the proposal speaks for itself, so generally, we'll just refer shareholders back to the proxy for any information about it at a 30,000-foot-above level. I guess we'll just add that it's 2021. Virtual meeting access is easier than ever before, as evidenced by today's virtual meeting, which we favor. This proposal would really just ensure that shareholders are able to continue attending meetings virtually in the future. That's it. Again, we'll refer shareholders back to the proxy for further information. Thank you. Thank you, Mr. Prescott. Operator, please place Mr. Prescott's line back on mute, if you would. After careful consideration, the Board has determined that adopting this proposal would not serve to enhance shareholder value, and therefore, it is not in the best interest of the company or its shareholders. While the Board has determined that although there are circumstances which may necessitate a virtual shareholder meeting, it is not appropriate to require that all shareholder meetings take place in whole or in part by virtual means. The Board believes that the method and means by which the company determines to communicate with its shareholders at its annual and special meetings is an ordinary business matter that should be determined by the analysis and judgment of the Board and management. For more information regarding the Board's position on this proposal, please see the Board's full statement in opposition, which is available on page 72 of the company's proxy statement. The Board unanimously recommends a vote against this proposal. This completes the proposals. I will now open the meeting up to questions related to the formal agenda items. Seeing that no questions have been submitted regarding the formal agenda items, we will now proceed to voting. If you have not voted, please do so now. Computershare will take charge of the polls. Submitted regarding the formal agenda items. Since it appears that all those who desire to vote have done so, the polls are now closed. I will now ask the Secretary to report the final voting results. Mr. Chair, the Inspector of Election has determined that based on the votes cast and received that each of the director nominees set forth in the proxy statement has been elected for a one-year term, and that the ratification of the appointment of PricewaterhouseCoopers and the advisory resolution on fiscal 2021 executive compensation have both been approved. The shareholder proposals regarding simple majority vote and virtual shareholder meetings were not approved. As required, we will report the final votes in a Form 8-K, which we will file with the SEC. Thank you, Charlie. There being no additional business to come before this meeting, I declare this meeting adjourned. I will now ask Mark Clouse, our President and Chief Executive Officer, to make a brief statement, and we will then respond to questions submitted relating to the business or operations of the company. Mark? Thank you, Keith. Good morning, everyone. In fiscal 2021, we continued to adapt and evolve in a dynamic environment while we advanced our strategic plan. In the first part of fiscal year 2021, as the pandemic persisted and posed many challenges across North America, our employees continued to rally to meet the elevated demand for our products and support the communities we call home. We are deeply grateful for the unwavering commitment and tremendous effort of our employees, especially our frontline teams. Throughout this time, taking care of our people has been and remains our top priority, and that starts with protecting the well-being and safety of our employees through enhanced protocols across the company. These protocols were clearly communicated and regularly updated following the guidance of public health experts. Throughout this year, we retained millions of the new households, including younger households, who discovered our products and rediscovered familiar favorites. We saw most brands in our core categories grow at higher rates than pre-pandemic levels. We're confident that many of the new behaviors adopted by consumers during the last year will continue, and our focus is turned to building on this success with relevant, delicious food and experiences. In fiscal 2021, we ended the year with all key metrics well ahead of the more comparable pre-pandemic fiscal 2019 period. Net sales from continuing operations were $8.48 billion, comparable to prior year, and an increase of 3% on a two-year compounded annual growth rate basis. Our Meals & Beverages and Snacks divisions each delivered net sales growth of 3% on a two-year CAGR basis. We continue to make strong progress against our cost savings target of $850 million by the end of fiscal 2022, delivering $80 million of incremental savings this past fiscal year, bringing the program-to-date total for continuing operations to $805 million. In fiscal 2021, we navigated a much higher inflationary environment and lapped the dramatic scale and efficiency from a year ago. In fiscal 2021, we reduced our long-term debt and generated $1 billion in cash flow from operations. In addition to these financial results, we made significant progress against our strategic plan despite the unprecedented challenges of the operating environment. We remain confident in our strategy, mission, and goals, and with strong underlying fundamentals, we're focused on execution while applying our learnings from the past 18 months. This year, we launched a new environmental, social, and governance framework to take a more holistic approach on how we manage our impacts and make a difference. Moving forward, we'll focus on four key areas: trusted food, vibrant communities, thriving people, and a healthy environment. We were also included on the FTSE4Good Index for the seventh consecutive year. During the last year, we have been laying the groundwork for the next chapter of sustained growth. To accelerate the positive changes underway, we refreshed our purpose and mission and introduced a new set of values, the 5 C's of Campbell, to guide our behaviors as we build a winning team and culture. Our new mission declares our intent to unlock our full growth potential. Additionally, we've made strong progress against our inclusion and diversity, our I&D strategy, focused on the standardization of key business processes and increased learning opportunities, advocacy for ally networks and communities, and transparency and accountability. We are building next-generation work models across our manufacturing network and office locations based on the experiences of the last 18 months. This continues our journey of building a winning team and culture and unlocking that full growth potential. Before I close my remarks, I want to reiterate how grateful I am for the teams throughout the company. The work we do at Campbell, our purpose, the connection to our communities makes me incredibly proud. We are completely aligned against our strategic plan and excited about the opportunities that are ahead of us. We're already planning for what comes next, and I've never been as optimistic as I am today. Thank you. With that, I would like to answer any questions that you may have. Seeing that no questions have been submitted, I'll now turn the meeting back over to our Chairman. Thank you, Mark. Thank you to our shareholders and other guests for attending this year's annual meeting. With there being no additional business to discuss, the meeting is now concluded. Please stay safe, everyone, and thank you. This concludes the meeting. You may now disconnect.