Hello, and welcome to the annual meeting of shareholders of Olympic Steel, Inc. Please note that today's meeting is being recorded. During the meeting, we'll have a question and answer session. You can submit questions or comments at any time by clicking on the Q&A icon. It is now my pleasure to turn today's meeting over to Michael Siegal. Mr. Siegal, the floor is yours. Thank you, operator. The 2022 annual meeting of shareholders of Olympic Steel, Inc. is now called to order. Good morning. I'm Michael Siegal, Executive Chairman of the Board of the company. I'd like to thank all of you for your support of the company. We are holding this year's annual meeting virtually via a web portal. It is my pleasure at this time to introduce the company's other officers and directors. David A. Wolfort, Past President, COO and current Senior Commercial Advisor, Olympic Steel, and a Director. Richard T. Marabito, Chief Executive Officer and a Director. Richard A. Manson, Chief Financial Officer. Andrew Greiff, President and Chief Operating Officer. Arthur F. Anton, Retired Chairman of the Board and CEO of Swagelok and Lead Independent Director. Dirk A. Kempthorne, President, The Kempthorne Group and a Director. Mr. Kempthorne served as a United States Senator from Idaho from 1993 to 1999, and Governor of Idaho from 1999 to 2006. He also served as the 49th Secretary of the U.S. Department of the Interior from 2006 to 2009. Idalene F. Kesner, Dean of Indiana University's Kelley School of Business and a Director. Michael G. Rippey, President and CEO of SunCoke Energy and a Director. Vanessa L. Whiting, President of A.E.S. Management Corporation and a Director. Richard P. Stovsky, Retired Partner, PricewaterhouseCoopers and a Director. Benjamin L. Stulberg, Acting Secretary of the company and a partner at Jones Day, our corporate legal counsel. In accordance with Ohio law, the board of directors has appointed Richard A. Manson, our CFO, Inspector of Elections for today's meeting. We have previously supplied each shareholder with a copy of the proxy statement in our 2021 annual report on Form 10-K. Additional copies of these documents are available on the web portal for this meeting and on our website. For information about the policies and procedures for this meeting, please consult our rules of conduct, which are also available on the web portal for this meeting and on our website. Will the secretary please present proof of the giving of notice of the meeting? Thank you, Michael. Welcome everyone to the 2022 annual meeting of shareholders. Thank you for joining us today. I have been furnished with a certificate from Computershare, the company's transfer agent, showing that the mailing or delivery of the notice of this meeting, the proxy statement, and a form of proxy commenced on or about April 1, 2022, the proxy mailing date, to all holders of shares of common stock of the company as of March 14, 2022, the record date for this annual meeting. I also have the list of the holders of record of common stock available for inspection during this meeting by any shareholder. To review this list, please contact our Inspector of Elections, Rich Manson. Will the secretary please report the number of shares of common stock represented in person or by proxy at the meeting? The Inspector of Elections for today's meeting has determined that of the 11,000,120 in person and by proxy at the meeting, approximately 91.34% or 10,160,120 shares and therefore, a quorum is present. We have four items requiring action by the shareholders at this meeting. The first item is to elect four directors to the class of directors whose two-year term of office will expire in 2024. David A. Wolfort, Dirk A. Kempthorne, Idalene F. Kesner, and Richard P. Stovsky. The second item to be considered by the shareholders is the ratification of the selection of Grant Thornton LLP as the company's independent auditors for the year ending December 31, 2022. The third item to be considered by the shareholders is the approval on an advisory basis of our named executive officer compensation. The board of directors of the company recommends a vote for each of the four persons nominated as candidates for director named in the proxy statement and for each of proposals two and three. It is now 11:05 A.M., and I declare the polls are now open for each member to be voted on at this meeting. If you have already voted by proxy, you do not need to vote again. It is now still 11:05 A.M., and I declare the polls are now closed for each of the matters. I now call on Mr. Stulberg to announce the preliminary results of the vote. The Inspector of Elections for today's meeting has determined that a majority of the shares of the company's common stock having voting power present in person or by proxy at this annual meeting, have been voted in favor of the election of each of David A. Wolfort, Dirk A. Kempthorne, Idalene F. Kesner, and Richard P. Stovsky. Each has been elected as a director. In regards to item two, the Inspector of Elections for today's meeting has determined that a majority of the shares of the company's common stock having voting power present in person or by proxy at this annual meeting, have been voted in favor of the ratification of the selection of Grant Thornton LLP as independent auditors of the company for the year ending December 31, 2022, and such selection has been ratified. In regards to item three, the Inspector of Elections for today's meeting has determined that a majority of the shares of the company's common stock having voting power present in person or by proxy at this annual meeting, have been voted in favor of the compensation of the company's named executive officers and such compensation has been approved on an advisory basis. Thank you, Ben. Now I will pause to check for any questions. We are reviewing any shareholder questions that were submitted today through the web portal. Please note we will attempt to answer as many questions as time allows, but only questions that are appropriate under our rules of conduct. It appears no questions were posed. Business to be addressed. As no other formal business to be addressed at the meeting, I now declare this meeting formally adjourned and all matters before it closed. Thank you. This concludes the meeting. You may now disconnect. Everyone, have a great day.
Loading workspace