Fastenal Company (FAST) April 17, 2012 11:00 am ET Executives Robert A. Kierlin - Founder and Executive Chairman Willard D. Oberton - Chief Executive Officer, President and Executive Director Todd Rachow - Ken Nance - Presentation Robert A. Kierlin
Robert A. KierlinThe board had this meeting this afternoon to hasten a resolution, which I'll read to you, whereas Monsignor James D. Habiger, Father Jim, who's been a friend, order and spiritual adviser to the founder of this for over 50 years, whereas Father Jim has endured himself with all the members of the board and the rest of the shareholders of the company [indiscernible] that James D. Habiger hereby elect [indiscernible]. And we wanted to give Father Jim something special. And I think we all know sometimes when a nut comes off your toaster or your alarm clock, it's always nice to have a spare on hand. So we have [indiscernible] for Father Jim here. The Annual Meeting of Shareholders of Fastenal Company is now convened. I am Robert A. Kierlin, Chairman of the Board of the company. Stephen M. Slaggie will act as Secretary of the meeting, and I will act as Chairman. Also present, please stand, are Michael M. Gostomski; Willard D. Oberton; Michael J. Dolan; Reyne K. Wisecup; Michael J. Ancius; Scott A. Satterlee, who are Directors of the company; and Hugh L. Miller, Director of the company, who's currently in China, and he's viewing this meeting via webcast. Hello, Hugh. I would first like to welcome all of you to this annual meeting. And next, I'll report on the number of shares present at this meeting, conduct the voting and results to be considered at this meeting. I'll report to you on the company's [indiscernible]. The record date for the determination of the holders of the company's common stock entitled to those -- to receive notice of and to vote at this meeting was fixed by the Board of Directors at February 22, 2012. And over here, I present to the meeting a certified list of shareholders of the company issued an outstanding common stock as of the close of business on the record date. The list will be kept open and subject to the inspection of all shareholders during this meeting.
I also present to the meeting an affidavit of the Manager of Broadridge Finance Solutions, that's over here, attesting that the Notice of Meeting together with the proxy statement, proxy card and certain other documents are mailed on or about March 2, 2012 to each holder of record of the company's common stock as of the close of the business on the record date. The affidavit of mailing of the notice of this meeting will be attached to the minutes of this meeting as Exhibit A. The certified list of the holders of the company's common stock will be filed with the books and records of the company.As of the close of business on the record date, there were outstanding and entitled to vote at this meeting 295,323,074 shares of common stock. And each share of the common stock is entitled to one vote. For a quorum to be present, the majority of the 295,323,074 votes entitled to be cast must be present in person or as a proxy at this meeting. And on a preliminary count, they are represented at the meeting either in person or by proxy as majority of the votes entitled to be cast at the meeting. Therefore, a quorum is present for the transaction of business. Anybody here present who has not submitted a proxy or registration form? Thank you. A record of the proxy is submitted to the meeting and the ballots of the individuals appointed as proxies and of the shareholders voting in person at the meeting will be filed with the books and records of the company. Tina Abrams [ph] and Kimberly McCrate [ph], which again, for this year, are hereby appointed to act as the inspectors of election with respect to all matters to be voted upon at the meeting or any adjournment thereof. The [indiscernible] of the inspectors of election will be administered and will be attached to the minutes of this meeting as Exhibit B, we hereby make available to the inspectors of election the list of shareholders, the registration forms and a record of all proxies submitted to this meeting. Copies of the minutes of the last annual meeting of the company held on April 19, 2011, are available at the right side of the room. We will therefore dispense with the reading of the minutes of that meeting. Read the rest of this transcript for free on seekingalpha.com