Good morning. I'm Colin Angle, Chief Executive Officer and Chairman of the Board of Directors of iRobot Corporation, and it is my pleasure to welcome you to the 2021 Annual Meeting of the Stockholders of the Company. Our Annual Meeting will be held entirely online this year again, due in part to the ongoing COVID-19 pandemic. I will conduct the formal part of the meeting first. I will then answer questions related to any of the business of the meeting before we close the voting and formally adjourn the meeting. Any question not directly related to business of the meeting itself will be addressed after the meeting has been formally adjourned. If you have a question about any specific proposal or a general question, you're welcome to submit it through the Ask a Question box on your screen. We thank you for participating in our vision as stockholders, for voting your proxies, and for attending today. I will now call the meeting to order. The business before this meeting is described in our Notice of Annual Meeting of Stockholders and Proxy Statement. The Agenda for Rules of Conduct for the meeting have been posted when you signed in. It is our intention to conduct this meeting in accordance with these documents. There will be an opportunity for questions about each of the proposals as they are presented. Please adhere to the rules of conduct in posting any comments or questions through this meeting. Before we proceed, let me introduce some of the people with us at this meeting. First, I'd like to introduce members of our Board of Directors who are all attending this virtual meeting: Mohamad Ali, Mike Bell, Deborah Ellinger, Elisha Finney, Ruey-Bin Kao, Eva Manolis, Andy Miller, and Michelle Stacy. I'd also like to introduce other members of our management team who are here today: Glen Weinstein, Executive Vice President and Chief Legal Officer, Russ Campanello, Executive Vice President, Human Resources and Corporate Communications, Julie Zeiler, Executive Vice President and Chief Financial Officer, Keith Hartsfield, Chief Product Officer, and Andy Kramer, Vice President, Investor Relations. Andy will be assisting me today with any stockholder questions. Terry Hassett is the Inspector of Elections for this Annual Meeting. The Inspector of Elections' principal obligation is to determine and certify the voting. The Inspector has taken his oath of office, which will be filed with the minutes of the meeting. Also joining us today is Richard Caravello of PricewaterhouseCoopers LLP, the company's independent registered public accounting firm, who is available to answer appropriate questions. If you have submitted a proxy by internet, telephone, or mail, your vote will be counted automatically without any further action on your part. If there is anyone present who wishes to vote online or holds proxies which he or she wishes to vote, or if there is anyone present online who wishes to hold her proxy, you are able to do so by clicking the Vote Here box on your screen. As a reminder, if you'd like to submit a question related to any of the proposals, I would ask you to please do so by submitting it through the Ask a Question box on your screen. Having been advised by the Inspector of Elections that 83.26% in voting power of the shares of the company entitled to vote at the meeting are present virtually or represented by proxy, I hereby declare a quorum present at the meeting. It is now just after 8:30 A.M. on May 25th, 2021, and the polls for each matter to be voted on at this meeting are now open. The first item of business stated in the Notice of Annual Meeting of Stockholders is a vote to elect three members of the Board of Directors to serve for a three-year term as Class one Directors. Deborah G. Ellinger, Eva Manolis, and I have been named in the company's proxy statement as nominees for election as Class one Directors, each to serve a three-year term until his or her successor has been duly elected and qualified, or until his or her earlier resignation or removal. The next order of business is to ratify the selection of PricewaterhouseCoopers LLP as the independent auditors of the company for the 2021 fiscal year. The next item on the agenda is to approve amendments to the company's amended and restated certificate of incorporation to eliminate supermajority voting requirements. The next order of business is to approve amendments to the company's amended and restated certificate of incorporation to declassify the Board of Directors. The next item on the agenda is to approve amendments to the company's amended and restated certificate of incorporation to eliminate the prohibition on stockholders' ability to call a special meeting. And the last item is to approve the compensation of the company's named executive officers on a non-binding advisory basis. Even though this vote is non-binding and will not create or imply any change in the fiduciary duties of or impose any additional fiduciary duty on the company or the board, the Compensation and Talent Committee will take into account the outcome of the vote when considering future executive compensation decisions. As mentioned earlier, stockholders were able to submit questions related to any of the proposals through the Ask a Question box in the web portal. Let's pause briefly to see whether any questions were submitted. Colin, there were no questions. Thank you. I've been informed that there were no questions regarding any of the proposals. Let's proceed to the next stage of the meeting. With no other questions about the proposals, we will proceed to the next stage. At this time, since no other items or proposals have been properly brought before the meeting, we will make the final call for votes. I'd like to ask any stockholder who wishes to vote during this Annual Meeting to submit their votes. You can submit your votes by clicking the Vote Here box. As a reminder, if you have previously submitted a proxy through one of the methods set out in the Notice of Annual Meeting of Stockholders, your vote will be counted automatically without any further action on your part. The Inspector of Elections will not accept virtual ballots, proxies, or votes, or any changes or revocations submitted after the closing of the polls. Mr. Hassett, our Inspector of Elections, will be certifying the results. Upon certification, the company will announce the results of the voting on items presented at this meeting by filing a Form 8-K with the SEC. It is now 8:38 A.M. on May 25th, 2021, and the polls for each matter to be voted on at this meeting are now closed. This ends the formal portion of our meeting. I would like to express my sincere appreciation to all our stockholders who voted and to extend our gratitude for those stockholders who attended the meeting. The polls are now closed, and the meeting is now adjourned. With the formal meeting now adjourned, we are able to address any general questions or issues raised by stockholders. Let's pause briefly to see whether any questions were submitted. While we pause to assemble the questions, I will remind stockholders that in responding to questions, we may make forward-looking statements pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Please be aware that all such forward-looking statements involve risks and uncertainties, such as those detailed in our SEC filings, including our 10-K and most recent 10-Q. Any forward-looking statements that we make must be considered in light of these factors. Actual results may vary materially. Additionally, we may refer to certain non-GAAP financial metrics, and if we do, the reconciliations between those non-GAAP metrics and most equivalent GAAP metrics are provided on our website. We received a question from one of our stockholders, so I will have Andy Kramer, our Vice President of Investor Relations, read the question. Great. Good morning. Colin, this question came in from a stockholder. Do you have any thoughts around iRobot being acquired or being absorbed into a larger robotics company or just a larger company in general? Thank you, Andy. iRobot is a public company, and our obligations to our shareholders are to create value over time, and we would seriously consider any appropriate inquiry along those lines. That said, we are very excited and bullish with our strategy that we're executing currently. We believe that it will bring us on a path of very exciting value creation for our stockholders, and so that we are not actively seeking out such an offer at this time. Great. Thank you, Colin. At this point, there are no more questions from stockholders. Okay. Thank you, Andy. With no additional questions, I'd like to conclude by thanking stockholders for their attendance today and for their continued support of iRobot. We look forward to sharing our progress and achievements over the course of the coming quarters. Thank you very much.
Loading workspace