Good morning, ladies and gentlemen. This is Peter Faricy, the President and Chief Executive Officer for SunPower Corporation. It is a pleasure to welcome you to our 2021 annual meeting of stockholders, held virtually with a live audio webcast. The meeting is now called to order. Before proceeding to the formal business of the meeting, let me introduce the company's other directors who are here with us today. Tom Werner, François Badoual, Bernadette Bodier, Cathy Lesjak, Tom McDaniel, Julien Pouget, Franck Trochet, Laurent Wolffsheim, Pat Wood. I would also like to introduce members of our management team who are in attendance. Manavendra Sial, Executive Vice President and Chief Financial Officer. Vichheka Heang, Vice President, Corporate Controller, and Principal Accounting Officer. Regan MacPherson, Executive Vice President, Chief Legal Officer, and Corporate Secretary. Eric Potts, Executive Vice President, Commercial Solar and Storage. Doug Richards, Executive Vice President, Chief People Officer. Norm Taffe, Executive Vice President, North America Residential. I'd also like to introduce Evan Cass, a representative of Ernst & Young, the company's independent public accounting firm. Regan MacPherson, our Executive Vice President and Chief Legal Officer and Corporate Secretary, is appointed Inspector of Election and Secretary of this meeting and will also act as the Presiding Officer. Ms. MacPherson will conduct the formal part of the meeting. After the formal business is completed, I'll make some brief remarks and take questions. Great. Thank you, Peter. A list of rules of conduct for today's meeting has been posted and is available through the virtual shareholder meeting website. As stated in the rules of conduct, if you have questions or comments during the formal portion of the meeting, please submit them via the virtual shareholder meeting website and limit your remarks to the items on the agenda. I received proof by affidavit of mailing from Broadridge, the company's proxy agent, that notice of this meeting has been duly given and that either notice regarding the availability of proxy material for the meeting or copies of the proxy statement and proxy card have been furnished to all stockholders of record as of the close of business on March 15th, 2021. We have at this meeting a list of stockholders of record as of that date. Immediately before this meeting, a count of those shares present by proxy totaled 140,588,203 shares of common stock. This represented approximately 81.61% of the outstanding voting shares as of the record date. As Inspector of Election, I have determined that we have present via our meeting website and by proxy a sufficient number of shares to constitute a quorum, so the meeting is duly constituted, and we may proceed with the business of the meeting. We will vote by proxy and online ballot. If you have turned in a proxy and do not intend to change your vote, then you do not need to vote because we will count your proxy. The proxies solicited by SunPower will be voted as instructed by the stockholders completing and returning their proxies. Those of you who did not turn in a proxy or who wish to change your votes should click the "Vote Here" link on the Virtual Shareholder Meeting webpage. The votes cast today will be counted in the final tally along with the proxies previously received. We will announce the preliminary voting results at the end of this meeting. The polls for each matter to be voted on at this meeting are now open. At today's meeting, there are three proposals to be voted upon by the stockholders. The first item to be voted upon is the election of François Badoual, [Denise Louagie], and Pat Wood to serve as our Class I directors until SunPower's 2024 Annual Meeting of Stockholders. The second item to be voted upon, on an advisory basis only, is the compensation of our named executive officers. The third and final item to be voted upon is the ratification of the appointment of Ernst & Young as our independent registered public accounting firm for fiscal year 2021. Since no other matters have been properly brought before the meeting, we will now finalize voting. If you intend to vote today and have not already done so, you must submit your vote now in order for it to be counted. If you have already submitted your vote by proxy and do not wish to change your vote, you need not vote now, and your shares will be voted as you previously instructed. The polls for each matter to be voted upon at this meeting are now closed. As Inspector of Election, I will now report on the preliminary voting results. Based upon all the proxies and ballots received, the proposals voted upon at today's meeting have each been approved or ratified, as applicable, by a majority of the shares present via our meeting website or by proxy. The final detailed results of voting, including any ballots recorded during this meeting, will be disclosed in a current report on Form 8-K that we will file with the SEC within four business days of today. There being no other matters for consideration at this meeting, SunPower's 2021 annual meeting of stockholders is adjourned. I will turn the microphone back over to Peter. After his brief remarks, we will allow time for appropriate stockholder questions, and we'll attempt to answer as many questions as time permits. Please note that Peter's remarks and the ensuing Q&A session may include forward-looking statements that are not historical in nature and refer to future events or our future financial performance, which are subject to risks and uncertainties. These forward looking statements are based on information available to us as of today's meeting. Therefore our actual results may differ materially due to a number of factors and risks. Please refer to SunPower's most recent filings with the Securities and Exchange Commission for a detailed discussion of those risks. Please note that except as required by law, we assume no obligation to update any forward-looking statements made here today. Thank you very much, I'll turn it now back to Peter. Thank you, Regan. I'm thrilled to be part of the SunPower team. While I've only been on board a few weeks, I'm impressed with what I've seen so far. My goal is to build upon SunPower's history of innovation to further expand our portfolio of industry-leading solar and energy solutions, while driving our brand through further investment in our customer and digital experience areas. We have a workforce comprised of bright, talented, and passionate people who are on a mission to change how the world is powered. I believe we can accomplish great things going forward. In the near term, my focus over the next 100 days will center around diving deep into the residential, commercial, and industrial businesses. We're going to start with the needs of customers and work backwards with the goal of earning and keeping customer trust. Looking back at 2020, we successfully positioned the company for long-term success. This includes our successful transformation of the company from a vertically integrated global solar provider to a more focused and profitable distributed generation energy solutions company. We materially improved our financial performance while delevering our balance sheet as we reduced our net debt, generated cash at the business unit level over the last six months, as well as retiring our $30 million CEDA loan. We executed well on an operational level as well. For example, despite the impact of COVID pandemic, we saw consistent gross margin improvement in both of our business units as we went throughout the year. Improvements that have carried over to our Q1 performance with gross margin up 660 basis points year-over-year. We expect these margins to be sustainable. Looking forward to 2021 and beyond, we have continued to invest in those initiatives that we feel offer the greatest long-term growth opportunities. These include our strategic initiatives to expand our addressable market through innovative residential and commercial storage and software solutions, and further investment in our digital financial and services platforms, as well as looking into adjacent markets for future growth. In closing, we remain excited about our future. Growth of renewable energy will be driven by making solar easy, reliable, and affordable. We believe our exceptional customer experience and digital innovation will lay the foundation for future growth. With that, I would like to turn the meeting over for questions. Bob, please take it away. Thank you, Pete. At this time, there are no questions. If you would like to ask a question, please type it in the Q&A box and I'll be happy to pass it along to the team. Let's give it a minute or so. Okay. We have no questions from the shareholders, Peter. I'll pass it back to you. Thank you. I'd like to thank everyone for joining and look forward to speaking with you again in the future. Thank you.
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