Hello, welcome to the annual meeting of shareholders of Olympic Steel, Inc. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Michael Siegal, Executive Chairman of the Board of the company. Mr. Siegal, the floor is yours. Thank you, operator. The 2023 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 as evidenced by your attendance today. 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 who are also attending today. David A. Wolfort, past President, Chief Operating Officer, 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, Chief Operating Officer. Arthur F. Anton, retired Chairman of the Board and Chief Executive Officer of Swagelok and Lead Independent Director. Dirk A. Kempthorne, President, The Kempthorne Group, and a director. 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 Emerita of Indiana University's Kelley School of Business, and a director. Michael G. Rippey, Chief Executive Officer 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. With us, Michael Solecki, 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 Manson, our Chief Financial Officer, Inspector of Elections for today's meeting. We have previously supplied each shareholder with a copy of the proxy statement and our 2022 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 more 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 2023 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 March 31, 2023 to all holders of shares of common stock of the company as of March 13, 2023, the record date for this annual meeting. I also have a list of holders of record of common stock as of March 13, 2023. This list is 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 11,132,542 shares of common stock outstanding and entitled to vote on March 13, 2023, there are present in person and by proxy at the meeting approximately 91.9% or 10,226,076 shares, and therefore a quorum is present. Thank you. We have four items requiring action by the shareholders at this meeting. The first item is to elect five directors to the class of directors whose two-year term of office will expire in 2025. Michael D. Siegal, Arthur F. Anton, Richard T. Marabito, Michael G. Rippey, and Vanessa L. Whiting. The second item is the ratification of the selection of Grant Thornton LLP as the company's independent auditors for the year ending December 31, 2023. The third item is the approval on an advisory basis of our named executive officer compensation. The fourth item is the recommendation on an advisory basis. The frequency of shareholder votes are named executive officer compensation. The board of directors of the company recommends a vote for each of these five persons nominated as candidates for director named in the proxy statement for each of the proposals 2 and 3, and for every year for proposal 4. It is now 11:05, I declare the polls are now open for each matter to be voted on at this meeting. If you have already voted by proxy, you do not need vote again. It's now still 11:05, I declare the polls are now closed for each of the matters. I now call on Mr. Solecki to announce the preliminary results of the vote. The Inspector of Elections for today's meeting has determined that each of Michael D. Siegal, Arthur F. Anton, Richard T. Marabito, Michael G. Rippey, and Vanessa L. Whiting has been elected as a director. The selection of Grant Thornton LLP as independent auditors of the company for the year ending December 31, 2023, has been ratified. The compensation of the company's named executive officers has been approved on an advisory basis, and the shareholders have recommended, on an advisory basis, every year as the frequency of shareholder votes on named executive officer compensation. Thanks, Mike. 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'll attempt to answer any and as many questions as asked and time allows. Only questions that are appropriate under the rules of conduct. It appears that no questions were posed by the shareholders that were appropriate under our rules of conduct for this meeting. It appears that there are no questions posed by shareholders. As there is no other formal business to be addressed at the meeting, I now declare this meeting formally adjourned and all matters before it close. Thank you. Thank you all for participating. This concludes the meeting. You may now disconnect.
Loading workspace