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No stake disclosed in this document.", "kpisCited": [ { "detail": "Marathon stock outperformed peers by 150% after Elliott-driven changes", "metric": "Peer outperformance (Marathon precedent)" }, { "detail": "ISS recommends voting FOR all four Elliott nominees; Glass Lewis backs three Elliott nominees and the case for change", "metric": "Proxy advisor support" } ], "closingAsk": "Vote the GOLD universal proxy card today for Elliott's four director nominees ahead of the May 21, 2025 Phillips 66 annual meeting.", "extraction": { "at": "2026-04-22 14:48:22+00", "model": "unknown-legacy", "runId": null, "seconds": 90.701195, "promptVersion": null }, "scqaReward": "The Marathon Petroleum precedent, where Elliott-driven change produced 150% peer outperformance, is offered as the quantitative template for the upside available at PSX.", "thesisTypes": [ "governance_board", "management_change", "operational_turnaround" ], "top3Reasons": [ "ISS and Glass Lewis both back Elliott's case for board change at PSX", "Elliott's Marathon Petroleum campaign drove 150% peer outperformance — same playbook here", "PSX management uses 'selective disclosure' and 'creative representation' of results" ], "scqaSituation": "Phillips 66 is a diversified energy conglomerate whose board faces a contested election at the May 21, 2025 annual meeting, with Elliott soliciting support for four independent director nominees.", "thesisSummary": "This SEC filing compiles Elliott's Streamline 66 soliciting materials — social media posts and website captures — in the final stretch before the May 21, 2025 Phillips 66 annual meeting. 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The definitive proxy statement and other relevant documents filed by Elliott with the SEC are also available, without charge, by directing a request to Elliott's proxy solicitor, Okapi Partners LLC, at its toll-free number (877) 629-6357 or via email at info@okapipartners.com.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:16:56.041+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aeafed63-caad-4b46-91f1-00f4e53739e5", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.2, "x": 0.68, "y": 0.025 }, "kind": "paragraph", "text": "Elliott Investment Management, E/ investors@streamline66.com, Bruce Goldfarb / Pat McHugh, Okapi Partners LLC, T/ (877) 629-6357, T/ (212) 297-0720, E/ info@okapipartners.com", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:16:56.041+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "70789620-e692-4257-bddd-c2f11eb28e04", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.2, "x": 0.38, "y": 0.025 }, "kind": "paragraph", "text": "Casey Friedman, Elliott Investment Management, T/ 212-478-1780, E/ cFriedman@elliottmgmt.com", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:16:56.041+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f890a0bd-fa80-4e85-a527-a47a78d03f8b", "parentComponentId": null }, { "bbox": { "h": 0.015, "w": 0.13, "x": 0.08, "y": 0.175 }, "kind": "title", "text": "Additional Information", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:16:56.041+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "36a9c9e5-ea69-4baf-a0ff-ddc9b7487ba3", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 2, "to": 4, "label": "Villain Critique", "description": "Slides 2-4 critique the current boardroom and management structure" }, { "from": 7, "to": 7, "label": "Executive Summary", "description": "Slide 7 provides an executive summary of Elliott's plan" }, { "from": 8, "to": 8, "label": "Nominee Bio", "description": "Slide 8 provides information on nominees for the board" } ], "loops": [ { "from": 7, "to": 7, "label": "Golden Circle", "description": "Why Elliott's plan is necessary" } ] }