MYR Group Inc., Annual General Meeting, Apr 20, 2023

Speaker 1: conduct is greatly appreciated.

Speaker 1: During the meeting, stockholders will have the opportunity to submit written questions related to the proposals by typing them into the ask a question field on the webcast portal and then clicking submit.

Speaker 1: We will do our best to respond to appropriate questions during the Q&A portion of the meeting.

Speaker 1: The meeting is now called to order.

Speaker 1: Resolutions were adopted at the February 26, 2023 meeting of the Board of Directors, providing for the annual stockholders meeting to be held and notice to be given.

Speaker 1: The Board set February 28, 2023 as the record date for determining persons entitled to notice for and to vote at this meeting.

Speaker 1: A list of stockholders entitled to vote at the meeting is open to the examination of any stockholder on the webcast portal.

Speaker 1: Only holders of common stock on the record date are entitled to vote at this meeting.

Speaker 1: A copy of the notice of this meeting and the affidavit as to the distribution of the notice of the annual meeting of stockholders will be filed with the minutes of this meeting.

Speaker 1: At the close of business on February 28, 2023, the record date, 16,666,000 and 5 shares of the company's common stock were outstanding.

Speaker 1: The Inspector has determined the holders of not less than 14,729,233 shares of common stock or approximately 88% of the shares outstanding on the record date are represented at this meeting in person or by proxy.

Speaker 1: Proper notice has been given and a quorum is present. This meeting has been properly convened.

Speaker 1: At this time, we will consider the items of the business on the agenda.

Speaker 1: Proposal number one, the first matter to be considered at today's meeting, which is further described in the proxy statement, is the election of three class one director nominees for three-year terms.

Speaker 1: No stockholder nominations were properly filed with the Corporate Secretary in advance of the meeting, therefore I declare the nominations for directors closed.

Speaker 1: Proposal 2, a vote on the advisory approval of the compensation of our named Executive Officers.

Speaker 1: Proposal 3, a vote on the advisory approval of the frequency of the advisory approval compensation of our named Executive Officers.

Speaker 1: Proposal 4, approval of a proposed amendment of Article 5 of the Certification of Incorporation declassifying the Board of Directors.

Speaker 1: Proposal 5, ratification of the appointment of Crowe LLP as our independent registered public accounting firm for the fiscal year ended December 31, 2023.

Speaker 1: These proposals are described in detail in the proxy statement and the board recommends that the stockholders vote for each of the nominees named in proposal 1, for proposal 2,

Speaker 1: for every one year for Proposal 3 and 4, Proposals 4 and 5.

Speaker 1: The company's bylaws require that a stockholder provide advance written notice to the company of a stockholder's intention to bring a matter before the annual meeting.

Speaker 1: Since no stockholder notices were properly filed with the Corporate Secretary in advance, there will be no other business considered at this meeting.

Speaker 1: It is 8.04 Mountain Time and polls are now open. You may vote on the web portal at this time.

Speaker 1: Let me remind you that if you've already voted, there's no need for you to vote on the web portal unless you wish to change your vote.

Speaker 1: Now that everyone has had an opportunity to vote, I declare the polls now closed at approximately 8.05 Mountain Time.

Speaker 1: The Inspector has informed us that based on the preliminary vote report, each of the nominees named in Proposal 1 have been elected.

Speaker 1: and proposals 2, 3, 4, and 5 have passed.

Speaker 1: The Inspector of Elections will execute a report on the results of the voting that will be filed with the minutes of the meeting.

Speaker 1: Seeing that there is no further official business, the meeting is adjourned.

Speaker 1: The final vote results will be included in a Form 8K that the company will file with the Securities and Exchange Commission.

Speaker 1: You can go to our website at myrgroup.com to access this filing and all of our other SEC filings.

Speaker 1: I would now like to say a few words about the company's accomplishments and financial performance in 2022.

Speaker 1: We finished the year with a strong fourth quarter and full year revenue of $3 billion, setting a record high for the eighth consecutive year.

Speaker 1: Our backlog of $2.5 billion at the end of 2022 reflects our ability to foster strong client relationships and compete effectively in the market.

Speaker 1: which sees continued investment in infrastructure and a growing demand for clean energy transformation projects.

Speaker 1: Our accomplishments this past year reflect both our organizational and operational resilience.

Speaker 1: as well as the strength of our long-lasting relationships and multi-year service agreements.

Speaker 1: Trends in the energy market point to continued investment in clean energy and improving grid resilience.

Speaker 1: Our T&D segment continues to execute transmission, distribution, substation, and clean energy projects of varied size, location, and capacity.

Speaker 1: Our CNI segment continues to execute a solid pipeline of work supported by strong relationships with our preferred clients.

Speaker 1: The demand for clean energy sources and integration continues to fuel investments in infrastructure, healthcare, high-tech, manufacturing, data centers, and wastewater treatment facilities.

Speaker 1: Expansion of our client relationships, a commitment to safety, training and development of our dedicated employees, and superior execution of projects built the foundation of our accomplishments this past year.

Speaker 1: We believe the increasing need for grid modernization

Speaker 1: system hardening and reliability along with decarbonization goals and legislative funding.

Speaker 1: We'll continue to create numerous opportunities for the company.

Speaker 1: MYR Group plays a key role in building the critical infrastructure needed to support the clean energy transformation that we believe positions us well for 2023 and beyond.

Speaker 1: The company's achievements this past year are the accumulation of the efforts of talent, smart work, hard working individuals and I take great pride in being part of this team. So in closing I'd like to express my sincere appreciation to each customer for allowing us to serve you.

Speaker 1: to our stockholders for your participation and support.

Speaker 1: and to the MYR Group employees for your hard work, ingenuity and passion to continue to serve our customers and communities.

Speaker 1: This concludes the meeting. Thank you again, and everybody have a great day.

Speaker 2: That concludes today's conference call. Thank you for joining and have a pleasant day.

Speaker 3: The host has ended this call. Goodbye.

Speaker 4: And it.