Zoom Communications, Inc. (ZM)
NASDAQ: ZM · Real-Time Price · USD
90.83
-1.20 (-1.30%)
At close: Apr 27, 2026, 4:00 PM EDT
90.60
-0.23 (-0.25%)
After-hours: Apr 27, 2026, 6:21 PM EDT
← View all transcripts

AGM 2020

Jun 18, 2020

Speaker 1

Welcome to the 2020 Annual Meeting for Zoom Video Communications Inc. Our host for today's call is Aparna Bawa. At this time, all participants will be in a listen only mode. I will now turn the call over to your host, Aparna Bawa. Please go ahead.

Speaker 2

Good morning. My name is Aparna Bawa, and I'm the Chief Operating Officer for Zoom Video Communications Inc. I'm very happy to welcome you to the Zoom 2020 Annual Stockholders Meeting. The meeting will now officially come to order. The time is now 10 am on Thursday, June 18, 2020, and the polls are now open for voting on all matters to be presented.

As you know, we are hosting today's meeting through a virtual online platform hosted by Broadridge. Before we proceed with the formal business of the meeting, I'd like to introduce the other members of the Zoom team who are with us today. The other members of the Zoom's management team with us today are Eric Yuan, our Founder and CEO Kelly Steckelberg, our CFO and Tom McCallum, our Head of Investor Relations. Also present are the members of our Board of Directors, Jonathan Chadwick, Karl Eschenbach, Peter Gassner, Kim Hammond, Lieutenant General, H. R.

McMaster, Dan Scheinman, Santi Subutovsky and Bart Swanson. I would also like to introduce Packie Kelley and Candace Beyer of KPMG LLP, the company's independent registered public accounting firm and Katrina Jones of Broadridge, all of whom are also in attendance virtually. We will proceed with the formal business of the meeting in the order set forth in the notice of annual meeting and proxy statement. We will first present the 2 proposals submitted for approval by our Board. We will take questions related to the proposals after all of the proposals have been presented, after which we will announce the preliminary results of the voting.

As I mentioned earlier, the polls are open for voting on all matters to be presented. Each share of Class A common stock is entitled to 1 vote and each share of Class B common stock is entitled to 10 votes. After I describe each item to be voted on, we will close the polls. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you have already submitted your vote by proxy and do not wish to change your vote, you do not need to vote now and your shares will be voted as previously instructed.

If you intend to vote and have not already done so, you must submit your vote online now in order for it to be counted. If you have not voted, I encourage you to vote online now. You should all have a copy of the rules of conduct for this meeting. In order to conduct an orderly meeting, we ask that you follow these rules. Stockholders who are attending this meeting with a valid 16 digit control number may submit questions or comments through the text box located on the virtual meeting screen.

We will try to answer questions submitted that are relevant to the proposals and or this meeting as and if we have time. Tom MacAllan will screen incoming questions and during the Q and A portion of the meeting, we will read germane questions out loud for Eric, Kelly or myself to respond. Please submit your questions now to make sure they are received in a timely fashion I have at this meeting a complete list of the holders of record of the company's Class A and Class B common stock as of April 20, 2020, the record date for this meeting. A list of stockholders of record is available for inspection by stockholders of record during this meeting for any reason germane to this meeting. I also have an affidavit certifying that on May 7, 2020, a notice of annual meeting of stockholders of the company was deposited in the United States mail all stockholders of record at the close of business on April 20, 2020.

At this time, I'd like to introduce Kathy Wheaton of Claire Lane Consulting, who is present virtually. I am appointing Kathy to act as Inspector of Election at this meeting. Kathy has taken and subscribed the customary oath of office to execute her duties with strict impartiality. We will file this oath with the records of the meeting. Her function is to decide upon the qualifications of voters, except their votes, and when balloting on all matters is completed to tally the final votes.

I have been informed by the Inspector of Election that proxies have been received for shares representing approximately 84% of the aggregate voting power of the Class A common stock and Class B common stock outstanding on the record date. This constitutes a quorum for the meeting today and we may now carry out the official business of the meeting. We will now proceed with the formal business of the meeting. After all of the proposals have been described, we will answer any questions related to the proposal submitted online. As a reminder, we ask that any comments or questions during this portion of the meeting pertain only to these proposals.

Please submit any questions as soon as possible for our review. There are 2 proposals to be considered by the stockholders at this meeting. Election of directors. The first item of business is the election of 3 Class 1 Directors to serve until our 2023 Annual Meeting of Stockholders and until their successors are duly elected and qualified. The nominees for Class 1 Director are Peter Gassner, Eric Estuan and Lieutenant General H.

R. McMaster. Ratification of appointment of independent registered public accounting firm. The second item of business today is the ratification of the appointment of the audit committee of our Board of Directors of KPMG LLP as our independent registered public accounting firm for our fiscal year ending January 31, 2021. There are no other proposals for today's meeting.

We will now review if there are any questions submitted about the proposals before we close the polls. As a reminder, we will only review and answer questions at this time that pertain to the proposals. Tom, are there any questions pertaining to the 2 proposals?

Speaker 1

No questions related to the proposals.

Speaker 2

Thank you. The time is now 10:0:7 and the polls are now closed for voting. The report of the Inspector of Election covering the proposals presented at this meeting is as follows: the proposal to elect Peter Gassner, Eric S. Yuan and Lieutenant General H. R.

McMaster as Class 1 directors of the company is carried the appointment of KPMG LLP as the company's independent registered public accounting form for the fiscal year ending January 31, 2021 is ratified. This concludes the formal portion of today's meeting and the annual meeting is now adjourned. Thank you again for your attendance at today's meeting and for your continued support of Zoom.

Powered by