{ "schemaVersion": "deck-intelligence.v1", "id": "019dd923-622b-71dc-a6da-d02d6c3c88ca", "slug": "61f5ecb195aa", "title": "Huntsman Corporation (HUN)", "subtitle": "Jeffrey C. Smith · 2022-02", "author": "Jeffrey C. Smith", "date": "2022-02-10 00:00:00", "pageCount": 5, "kind": "shareholder-letter", "orientation": "portrait", "aspectRatio": 0.77272725, "targetCompany": "Huntsman Corporation", "targetTicker": "HUN", "document": { "id": "019dd923-622b-71dc-a6da-d02d6c3c88ca", "slug": "61f5ecb195aa", "title": "Huntsman Corporation (HUN)", "rawTitle": "e621273 ex 1", "authorId": "03_Starboard_Value", "authorName": "Jeffrey C. Smith", "authorDisplay": "Jeffrey C. Smith", "kind": { "slug": "shareholder-letter", "label": "Shareholder letter" }, "sourceType": { "slug": "activist_investor", "label": "Activist investor" }, "fileName": "e621273_ex-1.pdf", "sourceUrl": "http://www.shareholdersforhuntsman.com", "sourceDate": "2022-02-10 00:00:00", "presentationDate": "2022-02-10 00:00:00", "ingestedAt": "2026-04-22 16:08:24+00", "status": "ready", "pageCount": 5, "orientation": "portrait", "aspectRatio": 0.77272725, "targetCompany": "Huntsman Corporation", "targetTicker": "HUN", "metadata": { "local_root": "/tmp/legacy-images/61f5ecb195aa", "activist_firm": "Starboard Value LP", "origin_corpus": "contrarian", "extraction_seconds": 78.16813898086548 } }, "coverage": { "pageCount": 5, "pagesIndexed": 5, "pagesWithImages": 5, "pagesWithMetadata": 5, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 35, "chartCount": 3, "metricSlides": 0, "toolMatches": 4, "documentToolMatches": 4, "frameworkMatches": 4, "arcMatches": 1, "beatMatches": 3, "loopMatches": 0, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": false, "reviewAvailable": false, "activistThesisAvailable": true, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "evidence": "The document starts with a call to action (WE NEED YOUR SUPPORT) and ends with a specific ask (VOTING ON THE BLUE PROXY CARD TODAY), following the AIDA structure.", "isPrimary": true, "confidence": 0.8, "extraction": { "at": "2026-07-16 21:54:46.785819+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 5, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 5, "name": "Action", "beatId": "d0428085-ced6-4994-bfaa-e9dbbed1c5db", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": { "name": "Action", "slug": "aida-action", "status": "active", "canonId": "019dd9b8-1285-74f0-8552-c04c08014586", "version": 1, "description": null }, "evidence": "The final page concludes with a clear call to action.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 1, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 1, "name": "Attention", "beatId": "e7dc48c1-4fc8-4029-964a-07c2564f387e", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": { "name": "Attention", "slug": "aida-attention", "status": "active", "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d", "version": 1, "description": null }, "evidence": "The document starts with a attention-grabbing statement.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Hook", "slug": "hook", "status": "active", "canonId": "019dd9b8-01a6-7328-bff2-b22eb40b3ea5", "version": 1, "description": "The opener — a deliberate move to earn attention before any argument. Used by AIDA, Monroes, Pixar Pitch, Overcoming the Monster." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 3, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 3, "name": "Expose Contradiction", "beatId": "eba0154e-8a40-46eb-a59c-1372273531db", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": null, "evidence": "The document highlights a contradiction in the company's performance.", "position": 2, "isPrimaryArc": true, "parentBeatType": null, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "tools": [ { "tool": { "name": "Before/after framing", "slug": "before-after-framing", "status": "active", "bestFor": "For turnaround / reform proposals", "canonId": "019dd9e1-528b-72ec-a563-e5dcb9410f67", "version": 1, "bodyDocId": "019dd9a1-80bf-72e9-980b-ccd1c0cd3488", "description": "You visualise two futures side by side: the trajectory the target is on\ntoday, and the trajectory under your proposed intervention. The reader\nhas to see the delta to feel the stakes.\n\nIt's the rhetorical cousin of the peer-gap — same visual grammar\n(comparison), but across **time** instead of across peers.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "c0af8e60-cc41-41e1-aa60-bb8b8d2f2df6", "evidence": null, "pageRefs": null, "priority": null, "whenToUse": "For turnaround / reform proposals", "confidence": null, "extraction": { "at": "2026-04-29 12:07:49.865912+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- It **quantifies the opportunity cost** of inaction. \"Doing nothing\"\n becomes a concrete, visible path, not an abstraction.\n- It **makes the Answer tangible**. The prescription isn't a paragraph;\n it's a trajectory the reader can point at.\n- It **pre-empts the status-quo defence**. Management usually argues \"we\n have a plan\". Your chart shows what their plan looks like vs. yours.\n- It **satisfies both the Architect** (math adds up) **and the Storyteller**\n (emotional delta between two futures).", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Peer gap chart", "slug": "peer-gap", "status": "active", "bestFor": "When relative underperformance is the core argument", "canonId": "019dd9e1-54f1-775a-94a1-d5cf3bb75abf", "version": 1, "bodyDocId": "019dd9a1-8653-7748-9050-807f067196c3", "description": "A single visual that benchmarks the target against its best-in-class peers on\na single quantitative KPI — and shows the target losing. The gap is the\npunchline.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "ba153ded-7995-42b1-a5a8-0dc19a40afac", "evidence": null, "pageRefs": null, "priority": null, "whenToUse": "When relative underperformance is the core argument", "confidence": null, "extraction": { "at": "2026-04-29 12:07:49.865912+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- It's the **most credible claim in the deck** because it's arithmetic, not\n opinion.\n- It's immediately **actionable** — close this gap and value accrues.\n- It **pre-empts the \"context is different\" defence** by pitting the target\n against direct peers in the same category.", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Villain naming", "slug": "villain-naming", "status": "active", "bestFor": "When governance or specific decisions are the core thesis", "canonId": "019dd9e1-55a4-74db-9314-0ced4cd46cd2", "version": 1, "bodyDocId": "019dd9a1-88f1-72ad-8f4e-56ec29d7b369", "description": "You identify a **specific person** responsible for the target's underperformance\nor the behaviour you want changed — and name them. Not \"management\" or \"the\nboard\". A named executive or director with a specific failure attributable to\nthem.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "cd7bed62-1b5e-4b44-b88c-5be231e7d88b", "evidence": "Huntsman Board of Directors (incumbents)", "pageRefs": null, "priority": null, "whenToUse": "When governance or specific decisions are the core thesis", "confidence": null, "extraction": { "at": "2026-04-29 12:07:49.865912+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- **Accountability needs a face.** Voters (shareholders, regulators,\n journalists) act faster against people than institutions.\n- **Credibility rises with specificity.** \"The CFO has repeatedly missed\n guidance\" > \"Management has missed guidance\".\n- It **pre-empts evasion**. An individual can be removed; an abstraction\n cannot.\n- It **forces the target to respond personally** — and their defensive\n response usually generates more attention for your thesis.", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Villain slide", "slug": "villain-slide", "status": "active", "bestFor": "In activist decks where the personality matters", "canonId": "019dd9e1-518c-7404-976a-5be5a517b659", "version": 1, "bodyDocId": null, "description": "A dedicated slide presenting the named villain visually", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "b9ecc1e7-a28c-4fc5-a5a6-5ed04fc7be91", "evidence": null, "pageRefs": null, "priority": null, "whenToUse": "In activist decks where the personality matters", "confidence": null, "extraction": { "at": "2026-04-29 12:07:49.865912+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "Makes the antagonist concrete", "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "03bf4ca4-a239-41bc-ad1c-ff933249e22a", "evidence": "Explicit request to vote on the blue proxy card", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "frameworkName": "call-to-action" }, { "matchId": "ead3259f-11b0-44fd-857e-399cfc1582f7", "evidence": "Comparing Huntsman performance against benchmarks to highlight underperformance.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "comparison_frame" }, { "matchId": "cfb94684-84fa-4461-9d9c-8cbe52855419", "evidence": "Compares target vs actual across three time periods to show failure.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:48.806+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "frameworkName": "before-after-framing" }, { "matchId": "f32c65fc-3a00-43ef-9c69-4330ab2a4662", "evidence": "Comparing CEO compensation to peer median to highlight performance gap", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "frameworkName": "comparison_frame" } ], "patterns": [] }, "storymakers": null, "score": null, "review": null, "activistThesis": { "tone": "adversarial", "notes": "Five-page shareholder letter tied to Starboard's 2022 proxy fight at Huntsman; filed as SEC proxy exhibit. Core rhetorical moves are three stacked 'failed promise' moments: (1) since-IPO peer-gap bars, (2) three-panel Investor Day miss chart with red-to-blue before/after columns, (3) CEO pay-vs-peer-median bars with % callouts on every year. Villain is framed at board level rather than naming a CEO, but Peter Huntsman is implied. Stake 8.6%, second-largest holder. No price target or valuation upside figure is given — this is a governance/accountability argument, not a SOTP or breakup pitch. Campaign_phase = proxy_fight (definitive proxy materials filed same day; BLUE card mentioned repeatedly). Visual_quality held at 2 — standard Times New Roman Word-letter body with basic PowerPoint-era bar charts; nothing editorial.", "kpisCited": [ { "detail": "Huntsman underperformed the S&P 500 by 298% from Feb 2005 to Jan 2022", "metric": "Total shareholder return vs S&P 500 since IPO" }, { "detail": "Huntsman underperformed the S&P Chemicals index by 310%", "metric": "Total shareholder return vs S&P Chemicals since IPO" }, { "detail": "Huntsman underperformed its proxy performance peers by 575%", "metric": "Total shareholder return vs proxy performance peers since IPO" }, { "detail": "$2.0bn target vs $1.1bn actual — 44% miss", "metric": "2014 Investor Day Adj. EBITDA target vs 2016 actual" }, { "detail": "$1.3bn target vs $1.1bn core actual — 11% miss", "metric": "2016 Investor Day Adj. EBITDA target vs 2017 actual" }, { "detail": "$1.3bn target vs $0.9bn 2020 consensus — 30% miss", "metric": "2018 Investor Day Adj. EBITDA target vs 2020 consensus" }, { "detail": "$14.5m vs $11.7m — 24% above median", "metric": "CEO pay vs proxy peer median (FY2016)" }, { "detail": "$16.6m vs $12.4m — 34% above median", "metric": "CEO pay vs proxy peer median (FY2017)" }, { "detail": "$13.0m vs $10.8m — 20% above median", "metric": "CEO pay vs proxy peer median (FY2018)" }, { "detail": "$16.1m vs $9.3m — 73% above median", "metric": "CEO pay vs proxy peer median (FY2019)" }, { "detail": "$13.1m vs $12.2m — 8% above median", "metric": "CEO pay vs proxy peer median (FY2020)" }, { "detail": "Approximately 8.6% of outstanding common stock, second-largest holder", "metric": "Starboard stake in Huntsman" }, { "detail": "281 corporate directors added or replaced across 80 boards over 18 years", "metric": "Starboard governance track record" } ], "closingAsk": "Vote the BLUE proxy card to elect Starboard's four independent nominees at Huntsman's 2022 Annual Meeting.", "extraction": { "at": "2026-04-22 16:08:24+00", "model": "unknown-legacy", "runId": null, "seconds": 78.16814, "promptVersion": null }, "scqaReward": "A refreshed, independent board with deep chemicals operating experience is positioned to close the dramatic peer performance gap, lift profitability toward best-in-class differentiated chemicals benchmarks, and unlock the intrinsic value of Huntsman's assets.", "thesisTypes": [ "governance_board", "operational_turnaround", "management_change" ], "top3Reasons": [ "Huntsman has underperformed proxy peers by 575% since IPO", "Management missed three consecutive Investor Day EBITDA targets (44%, 11%, 30%)", "CEO pay ran 8-73% above peer median despite the failed performance" ], "scqaSituation": "Huntsman is a differentiated chemicals company with strong market positions, diverse product portfolios, innovative chemistries, and a difficult-to-replicate manufacturing footprint that, in Starboard's view, has substantial latent value.", "thesisSummary": "Starboard, Huntsman's second-largest holder at 8.6%, argues the chemicals company has strong assets but dramatically underperformed operationally, trailing the S&P 500 by 298%, S&P Chemicals by 310%, and its proxy performance peers by 575% since its 2005 IPO. Management has missed its Adjusted EBITDA targets at three consecutive Investor Days — by 44% in 2014, 11% in 2016, and 30% in 2018 — yet the Board has paid the CEO 8% to 73% above the peer median every year from FY2016 to FY2020. To fix the accountability gap, Starboard is running a proxy fight to seat four independent directors (James Gallogly, Sandra Beach Lin, Susan Schnabel, and Jeffrey Smith) with chemicals, industrial, and public-company governance credentials, asking shareholders to vote the BLUE proxy card at the 2022 Annual Meeting.", "primaryDemands": [ "Elect four Starboard nominees (Gallogly, Beach Lin, Schnabel, Smith) to the Huntsman Board via the BLUE proxy card", "Hold management accountable for repeated missed Investor Day EBITDA targets", "Rein in excessive CEO compensation that runs above proxy peer median", "Install directors with deep chemicals operating experience to drive operational excellence" ], "scqaResolution": "Vote the BLUE proxy card at the 2022 Annual Meeting to elect four Starboard-nominated independent directors — Gallogly, Beach Lin, Schnabel, and Smith — who will hold management accountable and demand operational excellence.", "thesisOneLiner": "Huntsman has underperformed peers by 575% since IPO and missed three straight Investor Day targets; elect four Starboard nominees on the BLUE card to restore board accountability.", "precedentsCited": [], "scqaComplication": "Since its 2005 IPO, Huntsman has underperformed peers by 575%, missed three consecutive Investor Day EBITDA targets, and the Board has rewarded the CEO with pay 8-73% above peer median despite the failed execution.", "narrativeInterest": 3, "notableSlidePages": [ 2, 3, 4, 5 ], "peerCompaniesCited": [ "LyondellBasell", "Celanese", "Covestro", "Dow", "Kraton", "Avient", "Trinseo" ], "valuationFrameworks": [ "multiple_comparison" ], "visualCraftInterest": 2 }, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "title": "Includes specific mention of 8.6% ownership, $8.5B AUM, and 281 directors placed.", "function": "closing_ask", "imagePath": "https://imgproxy.kitesheet.com/fbcDC1dIceoocjTK7GmIZq8RIbY-FICTabU5HmfiVqo/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MWY1ZWNiMTk1YWEvcDAwMS5qcGc", "rawType": "closing_ask", "block": null, "metadata": { "slideType": "closing_ask", "slideTypeCanon": { "name": "Closing ask", "slug": "closing_ask", "status": "active", "canonId": "019de52d-0aa4-750f-8aa1-8d622dd99f5c", "version": 1, "description": null }, "function": "closing_ask", "functionCanon": { "name": "Closing ask (contrarian)", "slug": "closing_ask", "status": "active", "canonId": "019de52d-18d2-7137-8c99-0a14eb350f0f", "version": 1, "description": null }, "density": "dense", "densityScore": 55, "componentCount": 7, "textChars": 655, "nDataPoints": 3, "notes": "Includes specific mention of 8.6% ownership, $8.5B AUM, and 281 directors placed.", "elementsJson": [ "logo_grid", "headline_text", "paragraph", "callout_box" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:09:46.88+00", "seconds": 3.239, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622b-71dc-a6da-d02d6c3c88ca/1", "deck": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca", "deckAnchor": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca#slide-1", "deckJson": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.4, "x": 0.3, "y": 0.55 }, "kind": "callout", "text": "Please VOTE the BLUE CARD", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5b82fde0-4429-480e-821b-e083136556bd", "parentComponentId": null }, { "bbox": null, "kind": "callout", "text": "WE NEED YOUR SUPPORT – PROTECT AND ENHANCE YOUR INVESTMENT BY VOTING ON THE BLUE PROXY CARD TODAY", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b798-e1a4e8f425d4", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.3, "x": 0.35, "y": 0.05 }, "kind": "image", "text": "Starboard Value logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b4d6c8d3-84b5-43ec-82af-3dd34415b796", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.35 }, "kind": "paragraph", "text": "We are asking for your support to elect four new, highly-qualified directors to the Huntsman Corporation Board of Directors at the upcoming 2022 Annual Meeting.", "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 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2896298c-573e-4206-b3ec-4b3728edeca4", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.8, "x": 0.1, "y": 0.65 }, "kind": "paragraph", "text": "Starboard Value LP currently owns approximately 8.6% of the outstanding common stock of Huntsman. Starboard is a New York-based investment management firm with approximately $8.5 billion under management.", "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 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "52f6e79e-a239-4b18-a2cd-dd148dcf6ebf", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.25 }, "kind": "title", "text": "WE NEED YOUR SUPPORT – PROTECT AND ENHANCE YOUR INVESTMENT BY VOTING ON THE BLUE PROXY CARD TODAY", "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": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "72cd6308-d2af-4ede-b52d-dec249fc7852", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.8, "x": 0.1, "y": 0.15 }, "kind": "title", "text": "A LETTER TO THE STOCKHOLDERS OF HUNTSMAN CORPORATION", "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 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ce0286f4-f61f-4ab1-94f5-23a756e39b08", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "03bf4ca4-a239-41bc-ad1c-ff933249e22a", "evidence": "Explicit request to vote on the blue proxy card", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 21:09:46.88+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "frameworkName": "call-to-action" } ], "arcBeats": [ { "to": 1, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null }, "from": 1, "name": "Attention", "beatId": "e7dc48c1-4fc8-4029-964a-07c2564f387e", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": { "name": "Attention", "slug": "aida-attention", "status": "active", "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d", "version": 1, "description": null }, "evidence": "The document starts with a attention-grabbing statement.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Hook", "slug": "hook", "status": "active", "canonId": "019dd9b8-01a6-7328-bff2-b22eb40b3ea5", "version": 1, "description": "The opener — a deliberate move to earn attention before any argument. Used by AIDA, Monroes, Pixar Pitch, Overcoming the Monster." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/iYFmdObuEOscs0n6sXPJISJXXCjVR69axOeiAtH704c/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MWY1ZWNiMTk1YWEvcDAwMS5qcGc", "imagePathAlt": "https://imgproxy.kitesheet.com/S9ZMzXwK9gHit_T4zgVjFaLT8KZzhxiDWnmyn3ATGZ4/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MWY1ZWNiMTk1YWEvcDAwMS5wbmc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/Ol5h1fKXbbj6iSGPIDAi49megY7zUZZ-BAF4eG3aoa8/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MWY1ZWNiMTk1YWEvcDAwMS5wbmc" }, { "page": 2, "type": "analysis", "title": "The slide uses a negative bar chart to emphasize the magnitude of the underperformance gap.", "function": "expose_gap", "rawType": "peer_gap", "block": null, "metadata": { "slideType": "peer_gap", "slideTypeCanon": { "name": "Peer gap", "slug": "peer_gap", "status": "active", "canonId": "019de52d-10e5-74bd-8325-9f49c945a0aa", "version": 1, "description": null }, "function": "expose_gap", "functionCanon": { "name": "Expose gap", "slug": "expose_gap", "status": "active", "canonId": "019de52d-1795-772d-8f3a-75ccfb93fe58", "version": 1, "description": null }, "density": "dense", "densityScore": 66, "componentCount": 7, "textChars": 1187, "nDataPoints": 3, "notes": "The slide uses a negative bar chart to emphasize the magnitude of the underperformance gap.", "elementsJson": [ "headline_text", "paragraph", "bar_chart_vertical", "footnote" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:09:52.321+00", "seconds": 8.581, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622b-71dc-a6da-d02d6c3c88ca/2", "deck": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca", "deckAnchor": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca#slide-2", "deckJson": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca.json" }, "components": [ { "bbox": null, "kind": "callout", "text": "STOCKHOLDERS HAVE SUFFERED FROM LONG-TERM STOCK PRICE UNDERPERFORMANCE", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b798-c5616577a294", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.8, "x": 0.1, "y": 0.3 }, "kind": "chart", "text": "Relative Stock Price Performance Since Huntsman’s IPO", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "10f557bf-b3e7-41c3-af6e-e98ea5b2fa53", "parentComponentId": null }, { "bbox": null, "kind": "metric", "text": "relative stock price performance: 575%", "attrs": null, "canon": { "kind": { "name": "Metric", "slug": "metric", "status": "active", "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d", "version": 1, "description": "Big-number or KPI value." }, "tool": { "name": "Quantification", "slug": "quantification", "status": "active", "bestFor": null, "canonId": "019dd9e1-47ab-72ce-a079-aab1f5299e88", "version": 1, "bodyDocId": null, "description": "Translating a claim into numbers, charts, or tables.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b798-c910ade92761", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.1, "y": 0.14 }, "kind": "paragraph", "text": "We are incredibly excited by our investment in Huntsman because of the Company’s strong market positions, diverse product portfolios, innovative chemistries, and difficult to replicate manufacturing footprint. We see substantial opportunity for Huntsman to improve profitability and become a best-in-class differentiated chemicals company. Unfortunately, the Company’s historical operating performance has dramatically understated the intrinsic value of the Company’s assets.", "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 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "74b97f94-4fc0-4a09-81b3-3af74db7c981", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.58 }, "kind": "source-note", "text": "Source: CapitalIQ.(1) Returns are adjusted for dividends and measured from end-of-day February 11, 2005 through end-of-day January 14, 2022. (2) Peer group includes all peers listed under “2020 Performance Peers” on page 54 of the Company’s 2021 Proxy filing with the exception of Covestro, Dow, and Kraton, because all three companies were not publicly-traded for the full measurement period.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "565f94fc-cf63-4907-8029-9c5eed625bf6", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.15, "y": 0.25 }, "kind": "title", "text": "STOCKHOLDERS HAVE SUFFERED FROM LONG-TERM STOCK PRICE UNDERPERFORMANCE", "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": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a769b94-b38d-4c9c-b17e-7fe577b407db", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.09 }, "kind": "title", "text": "WE BELIEVE HUNTSMAN IS A GREAT COMPANY WITH GREAT ASSETS THAT DESERVES TO PERFORM BETTER", "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 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b3905010-7014-4772-af45-569e33c3d48f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "ead3259f-11b0-44fd-857e-399cfc1582f7", "evidence": "Comparing Huntsman performance against benchmarks to highlight underperformance.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:52.321+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "tension", "title": "Uses a 'before-after' style comparison for three distinct time periods to demonstrate a pattern of failure.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 33, "componentCount": 5, "textChars": 324, "nDataPoints": 6, "notes": "Uses a 'before-after' style comparison for three distinct time periods to demonstrate a pattern of failure.", "elementsJson": [ "headline_text", "bar_chart_vertical", "footnote" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:09:48.806+00", "seconds": 4.685, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622b-71dc-a6da-d02d6c3c88ca/3", "deck": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca", "deckAnchor": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca#slide-3", "deckJson": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca.json" }, "components": [ { "bbox": null, "kind": "callout", "text": "44% MISS", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b799-3403d7161f77", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "chart", "text": "Comparison of Investor Day targets vs actuals", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:48.806+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa317137-6b08-48bf-af66-3dad8f2449ea", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.48 }, "kind": "disclaimer", "text": "Source: Public company filings, transcripts and presentations, Bloomberg, Wall Street consensus estimates. (1)-(5) detailed footnotes regarding adjustments.", "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 21:09:48.806+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "12ad9c7c-b27c-4c1e-9ed1-10debad144e4", "parentComponentId": null }, { "bbox": null, "kind": "metric", "text": "Adj. EBITDA: 44%", "attrs": null, "canon": { "kind": { "name": "Metric", "slug": "metric", "status": "active", "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d", "version": 1, "description": "Big-number or KPI value." }, "tool": { "name": "Quantification", "slug": "quantification", "status": "active", "bestFor": null, "canonId": "019dd9e1-47ab-72ce-a079-aab1f5299e88", "version": 1, "bodyDocId": null, "description": "Translating a claim into numbers, charts, or tables.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b799-3aaed89265c5", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.09 }, "kind": "title", "text": "THE COMPANY HAS FAILED TO DELIVER ON ITS FINANCIAL COMMITMENTS OVER THREE CONSECUTIVE INVESTOR DAYS", "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 21:09:48.806+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2c68e852-6f74-498a-8c9b-3c8432ce8e62", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "cfb94684-84fa-4461-9d9c-8cbe52855419", "evidence": "Compares target vs actual across three time periods to show failure.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:48.806+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "frameworkName": "before-after-framing" } ], "arcBeats": [ { "to": 3, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null }, "from": 3, "name": "Expose Contradiction", "beatId": "eba0154e-8a40-46eb-a59c-1372273531db", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": null, "evidence": "The document highlights a contradiction in the company's performance.", "position": 2, "isPrimaryArc": true, "parentBeatType": null, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 4, "type": "setup", "title": "The slide uses a bar-grouped chart to illustrate the compensation gap, followed by a call to action for electing new board members.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "dense", "densityScore": 73, "componentCount": 8, "textChars": 1090, "nDataPoints": 10, "notes": "The slide uses a bar-grouped chart to illustrate the compensation gap, followed by a call to action for electing new board members.", "elementsJson": [ "headline_text", "bar_chart_grouped", "paragraph", "footnote" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:09:51.023+00", "seconds": 6.694, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622b-71dc-a6da-d02d6c3c88ca/4", "deck": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca", "deckAnchor": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca#slide-4", "deckJson": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca.json" }, "components": [ { "bbox": null, "kind": "callout", "text": "HUNTSMAN NEEDS STRONG INDEPENDENT BOARD MEMBERS WHO WILL DEMAND IMPROVED PERFORMANCE AND HELP MAXIMIZE STOCKHOLDER VALUE", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b799-182ddeebce68", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.8, "x": 0.1, "y": 0.16 }, "kind": "chart", "text": "Huntsman CEO Compensation vs. Proxy Peer Median", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f675188-87a3-475d-a218-cb67d66ed7a2", "parentComponentId": null }, { "bbox": null, "kind": "metric", "text": "CEO Compensation: 73%", "attrs": null, "canon": { "kind": { "name": "Metric", "slug": "metric", "status": "active", "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d", "version": 1, "description": "Big-number or KPI value." }, "tool": { "name": "Quantification", "slug": "quantification", "status": "active", "bestFor": null, "canonId": "019dd9e1-47ab-72ce-a079-aab1f5299e88", "version": 1, "bodyDocId": null, "description": "Translating a claim into numbers, charts, or tables.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b799-1eb4c687cec2", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.1, "y": 0.68 }, "kind": "paragraph", "text": "Our goal is to create value for the benefit of all stockholders. We believe a critical step towards achieving this objective is to improve the Board with directors who have exceptionally relevant skill sets and who will provide renewed accountability.", "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 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "65f9770e-effe-4b36-9f07-3e494f4cef99", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.52 }, "kind": "paragraph", "text": "Today, Starboard filed its definitive proxy materials with the Securities and Exchange Commission seeking the election of four (4) highly-qualified independent directors to the Board at the upcoming 2022 Annual Meeting – James L. Gallogly, Sandra Beach Lin, Susan C. Schnabel, and Jeffrey C. Smith.", "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 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "acfe3cd4-829b-4621-910d-d1efb0c0b4e4", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.1, "y": 0.42 }, "kind": "source-note", "text": "Source: ISS Proxy Analysis & Benchmark Policy Voting Recommendations Report (2017–2021).", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e0cec34a-d146-4f6c-9474-8177e65898b0", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.46 }, "kind": "title", "text": "HUNTSMAN NEEDS STRONG INDEPENDENT BOARD MEMBERS WHO WILL DEMAND IMPROVED PERFORMANCE AND HELP MAXIMIZE STOCKHOLDER VALUE", "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": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "94a42133-f1a4-44a9-b823-2f005a57e373", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.09 }, "kind": "title", "text": "DESPITE A LITANY OF MISSED PROMISES, THE BOARD HAS INEXPLICABLY CHOSEN TO GENEROUSLY COMPENSATE MANAGEMENT AND REWARD THEM FOR FAILED PERFORMANCE", "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 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3263673e-52f5-4e9d-951d-3fbd450070ad", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "f32c65fc-3a00-43ef-9c69-4330ab2a4662", "evidence": "Comparing CEO compensation to peer median to highlight performance gap", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:09:51.023+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 5, "type": "setup", "function": "introduce_nominees", "rawType": "nominee_bio", "block": null, "metadata": { "slideType": "nominee_bio", "slideTypeCanon": { "name": "Nominee bio", "slug": "nominee_bio", "status": "active", "canonId": "019de52d-1136-70ae-861a-f546f0c9d1ef", "version": 1, "description": null }, "function": "introduce_nominees", "functionCanon": { "name": "Introduce nominees", "slug": "introduce_nominees", "status": "active", "canonId": "019de52d-1833-77fe-ac47-5f26d823a84a", "version": 1, "description": null }, "density": "balanced", "densityScore": 49, "componentCount": 8, "textChars": 373, "nDataPoints": 0, "notes": null, "elementsJson": [ "headline_text", "headshot", "bullet_list", "callout_box" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:09:47.404+00", "seconds": 2.98, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622b-71dc-a6da-d02d6c3c88ca/5", "deck": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca", "deckAnchor": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca#slide-5", "deckJson": "/decks/019dd923-622b-71dc-a6da-d02d6c3c88ca.json" }, "components": [ { "bbox": { "h": 0.03, "w": 0.82, "x": 0.09, "y": 0.69 }, "kind": "callout", "text": "Please VOTE the BLUE CARD", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b9e7e581-88c6-48c5-9a5a-6d1de5a04b52", "parentComponentId": null }, { "bbox": null, "kind": "callout", "text": "WE NEED YOUR HELP TO ELECT OUR INDEPENDENT AND HIGHLY EXPERIENCED NOMINEES WHO ARE COMMITTED TO HOLDING MANAGEMENT ACCOUNTABLE", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 23:09:31+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd953-0934-771a-b798-f626b078d8ec", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.11, "x": 0.11, "y": 0.27 }, "kind": "image", "text": "Sandra Beach Lin", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9b765a7b-f99e-4277-a039-3fedf93967a5", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.11, "x": 0.11, "y": 0.52 }, "kind": "image", "text": "Jeffrey C. Smith", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a2aeab94-e1fb-4918-a091-d911c799e1d6", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.11, "x": 0.11, "y": 0.14 }, "kind": "image", "text": "James L. Gallogly", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d6ed2e35-30b5-491f-ac32-4bbd298d64d0", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.11, "x": 0.11, "y": 0.39 }, "kind": "image", "text": "Susan C. Schnabel", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d9c87a4c-706b-4a2a-a12b-c9bafadcb76c", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.8, "x": 0.1, "y": 0.64 }, "kind": "paragraph", "text": "WE NEED YOUR HELP TO ELECT OUR INDEPENDENT AND HIGHLY EXPERIENCED NOMINEES WHO ARE COMMITTED TO HOLDING MANAGEMENT ACCOUNTABLE", "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 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "74b67a53-9534-46d9-8358-387038b4d1e0", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.82, "x": 0.09, "y": 0.09 }, "kind": "title", "text": "Overview of Starboard Nominees", "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 21:09:47.404+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5a105cfd-bf9f-47d9-b411-5c338ceeb621", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 5, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null }, "from": 5, "name": "Action", "beatId": "d0428085-ced6-4994-bfaa-e9dbbed1c5db", "matchId": "49e65b7c-f306-4507-b9e2-03afab17eb35", "beatType": { "name": "Action", "slug": "aida-action", "status": "active", "canonId": "019dd9b8-1285-74f0-8552-c04c08014586", "version": 1, "description": null }, "evidence": "The final page concludes with a clear call to action.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true } ], "arcBeats": [ { "from": 5, "to": 5, "label": "Action", "description": "The final page concludes with a clear call to action." }, { "from": 1, "to": 1, "label": "Attention", "description": "The document starts with a attention-grabbing statement." }, { "from": 3, "to": 3, "label": "Expose Contradiction", "description": "The document highlights a contradiction in the company's performance." } ], "loops": [] }