{
  "schemaVersion": "deck-intelligence.v1",
  "id": "019dd923-622b-71dc-a6dc-fd3c3578c438",
  "slug": "88d54d0740f8",
  "title": "BlackRock (BLK)",
  "subtitle": "Giuseppe Bivona · 2024-04",
  "author": "Giuseppe Bivona",
  "date": "2024-04-05 00:00:00",
  "pageCount": 2,
  "kind": "shareholder-letter",
  "orientation": "portrait",
  "aspectRatio": 0.7070707,
  "targetCompany": "BlackRock",
  "targetTicker": "BLK",
  "document": {
    "id": "019dd923-622b-71dc-a6dc-fd3c3578c438",
    "slug": "88d54d0740f8",
    "title": "BlackRock (BLK)",
    "rawTitle": "553283 ccee5dd3dd1041f5ae96b66c4abdf691",
    "authorId": "23_Bluebell_Capital",
    "authorName": "Giuseppe Bivona",
    "authorDisplay": "Giuseppe Bivona",
    "kind": {
      "slug": "shareholder-letter",
      "label": "Shareholder letter"
    },
    "sourceType": {
      "slug": "activist_investor",
      "label": "Activist investor"
    },
    "fileName": "553283_ccee5dd3dd1041f5ae96b66c4abdf691.pdf",
    "sourceUrl": null,
    "sourceDate": "2024-04-15 00:00:00",
    "presentationDate": "2024-04-05 00:00:00",
    "ingestedAt": "2026-04-22 18:09:07+00",
    "status": "ready",
    "pageCount": 2,
    "orientation": "portrait",
    "aspectRatio": 0.7070707,
    "targetCompany": "BlackRock",
    "targetTicker": "BLK",
    "metadata": {
      "local_root": "/tmp/legacy-images/88d54d0740f8",
      "activist_firm": "Bluebell Capital Partners",
      "origin_corpus": "contrarian",
      "extraction_seconds": 89.97320199012756
    }
  },
  "coverage": {
    "pageCount": 2,
    "pagesIndexed": 2,
    "pagesWithImages": 2,
    "pagesWithMetadata": 2,
    "imageCoveragePct": 100,
    "metadataCoveragePct": 100,
    "componentCount": 9,
    "chartCount": 0,
    "metricSlides": 0,
    "toolMatches": 0,
    "documentToolMatches": 0,
    "frameworkMatches": 0,
    "arcMatches": 1,
    "beatMatches": 2,
    "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": "63a29ffa-32ce-44c5-87f9-3601e1ccebff",
        "evidence": "The document structure suggests an AIDA (Attention, Interest, Desire, Action) narrative shape, but it's limited to only 2 pages.",
        "isPrimary": true,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-16 21:56:35.215903+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "beats": [
      {
        "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": "ec0f9cd7-b74d-45d7-a874-08641e454ded",
        "matchId": "63a29ffa-32ce-44c5-87f9-3601e1ccebff",
        "beatType": {
          "name": "Attention",
          "slug": "aida-attention",
          "status": "active",
          "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d",
          "version": 1,
          "description": null
        },
        "evidence": "The title page grabs attention.",
        "position": 0,
        "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": 0.7
      },
      {
        "to": 2,
        "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": 2,
        "name": "Interest",
        "beatId": "5c55ceb2-b93d-4dd7-b600-01fce0f5802c",
        "matchId": "63a29ffa-32ce-44c5-87f9-3601e1ccebff",
        "beatType": {
          "name": "Interest",
          "slug": "aida-interest",
          "status": "active",
          "canonId": "019dd9b8-115b-7640-827f-fd115885a984",
          "version": 1,
          "description": null
        },
        "evidence": "The appendix may generate interest in further details.",
        "position": 1,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Complication",
          "slug": "complication",
          "status": "active",
          "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
          "version": 1,
          "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.7
      }
    ],
    "loops": [],
    "tools": [],
    "frameworks": [],
    "patterns": []
  },
  "storymakers": null,
  "score": null,
  "review": null,
  "activistThesis": {
    "tone": "collaborative",
    "notes": "Two-page compilation: page 1 is BlackRock Corporate Secretary Andrew Dickson's short April 15, 2024 email declining Bluebell's offer to withdraw Item 6; page 2 (labeled 'Appendix 1') is Bluebell's April 5, 2024 letter signed by Giuseppe Bivona and Marco Taricco offering the conditional withdrawal. Filed under Bluebell folder and treated as primary Bluebell material since the Bluebell letter is the substantive content; the BlackRock cover email is administrative. No stake size, valuation, KPIs, or peer-gap framing — this is a pure governance-campaign exchange during a live proxy fight, not a thesis deck.",
    "kpisCited": [],
    "closingAsk": "Irrevocably commit, with a public market announcement by April 15, 2024, to adopt a policy effective AGM 2025 mandating an independent Board Chair — in exchange, Bluebell will withdraw Item 6.",
    "extraction": {
      "at": "2026-04-22 18:09:07+00",
      "model": "unknown-legacy",
      "runId": null,
      "seconds": 89.973206,
      "promptVersion": null
    },
    "scqaReward": "Structural separation of Chair and CEO at BlackRock, aligning the firm's own governance with the independent-chair standards it advocates through its stewardship function at portfolio companies.",
    "thesisTypes": [
      "governance_board"
    ],
    "top3Reasons": [
      "BlackRock combines the Chair and CEO roles, contrary to independent-chair best practice",
      "A binding bylaw amendment (Item 6) is the only way to lock in structural separation",
      "Bluebell will withdraw Item 6 if BlackRock publicly commits to an independent-Chair policy"
    ],
    "scqaSituation": "BlackRock, the world's largest asset manager, combines the Chairman and CEO roles under Larry Fink; Bluebell, acting through its Active Equity Master Fund, holds common equity and has placed Item 6 on the 2024 AGM ballot.",
    "thesisSummary": "Bluebell Capital Partners filed Item 6 at BlackRock's 2024 AGM, a binding bylaw amendment requiring the Chairman of the Board to be an Independent Director from the 2025 AGM onward — a direct challenge to the combined Chair/CEO role held by Larry Fink. In this April 5, 2024 letter, co-CIOs Giuseppe Bivona and Marco Taricco offer to withdraw the proposal on a single condition: BlackRock must irrevocably commit, with a public market announcement by April 15, 2024, to adopt an independent Board Chair policy effective from AGM 2025. BlackRock's April 4 opposition statement argued a binding bylaw format improperly strips directors of discretion over future leadership structures. In the cover email dated April 15, BlackRock Corporate Secretary Andrew Dickson declines Bluebell's terms and lets Item 6 go to a shareholder vote at the May 15, 2024 annual meeting.",
    "primaryDemands": [
      "Amend BlackRock's Bylaws to require the Chairman of the Board be an Independent Director, effective from AGM 2025",
      "Alternatively, BlackRock irrevocably commits (publicly by April 15, 2024) to adopt an independent Board Chair policy effective AGM 2025"
    ],
    "scqaResolution": "Adopt a policy — effective from AGM 2025 — that mandates an independent Board Chair, with an irrevocable commitment and public market announcement by April 15, 2024; in exchange, Bluebell withdraws Item 6.",
    "thesisOneLiner": "Bluebell demands BlackRock separate the combined Chair/CEO role via a binding bylaw amendment at the 2024 AGM, offering to withdraw only if the Board irrevocably commits to an independent Chair from 2025.",
    "precedentsCited": [],
    "scqaComplication": "BlackRock's Board opposes Item 6, arguing in its April 4 statement that a binding bylaw amendment strips directors of discretion to choose the leadership structure that best suits future circumstances.",
    "narrativeInterest": 2,
    "notableSlidePages": [
      2
    ],
    "peerCompaniesCited": [],
    "valuationFrameworks": [
      "not_shown"
    ],
    "visualCraftInterest": 1
  },
  "pitchdeck": {
    "metadata": null,
    "profile": null
  },
  "slides": [
    {
      "page": 1,
      "type": "appendix",
      "title": "This is a reproduction of an email correspondence used as evidence in a shareholder dispute.",
      "function": "other",
      "imagePath": "https://imgproxy.kitesheet.com/yN8YIYCImD8OzvITIjV33S79iiORG2b3FIarodzYySU/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84OGQ1NGQwNzQwZjgvcDAwMS5qcGc",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "other",
        "functionCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 27,
        "componentCount": 4,
        "textChars": 524,
        "nDataPoints": 0,
        "notes": "This is a reproduction of an email correspondence used as evidence in a shareholder dispute.",
        "elementsJson": [
          "paragraph"
        ],
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 20:56:58.214+00",
          "seconds": 1.843,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019dd923-622b-71dc-a6dc-fd3c3578c438/1",
        "deck": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438",
        "deckAnchor": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438#slide-1",
        "deckJson": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438.json"
      },
      "components": [
        {
          "bbox": null,
          "kind": "callout",
          "text": "We are not accepting the terms you have offered and will let your proposal go to a vote at our annual meeting.",
          "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 23:21:04+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd953-1ac1-76e9-bcd7-fd7ed00e33e2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.72,
            "x": 0.14,
            "y": 0.29
          },
          "kind": "paragraph",
          "text": "Thank you for sharing your offer to withdraw your proposal (Appendix 1). We are not accepting the terms you have offered and will let your proposal go to a vote at our 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 20:56:58.214+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "255491fe-77c4-487b-812d-33a1a61e6e9e",
          "parentComponentId": null
        },
        {
          "bbox": null,
          "kind": "quote",
          "text": "Thank you for sharing your offer to withdraw your proposal (Appendix 1). We are not accepting the terms you have offered and will let your proposal go to a vote at our annual meeting.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Quote",
              "slug": "quote",
              "status": "active",
              "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a",
              "version": 1,
              "description": "Pull quote or testimonial."
            },
            "tool": {
              "name": "Authority citation",
              "slug": "authority-citation",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-49ae-7557-89ad-3fca70469b45",
              "version": 1,
              "bodyDocId": null,
              "description": "Quoting an authority figure, study, or precedent to lend weight.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 23:21:04+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd953-1ac1-76e9-bcd8-02cc8c348637",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.45,
            "x": 0.14,
            "y": 0.11
          },
          "kind": "title",
          "text": "Bluebell Capital Partners - BlackRock AGM (2024)",
          "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 20:56:58.214+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ecbe8ee3-a345-45f0-b1a9-cfdb08992bba",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "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": "ec0f9cd7-b74d-45d7-a874-08641e454ded",
          "matchId": "63a29ffa-32ce-44c5-87f9-3601e1ccebff",
          "beatType": {
            "name": "Attention",
            "slug": "aida-attention",
            "status": "active",
            "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d",
            "version": 1,
            "description": null
          },
          "evidence": "The title page grabs attention.",
          "position": 0,
          "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": 0.7
        }
      ],
      "loops": [],
      "thumbSrc": "https://imgproxy.kitesheet.com/yRUDQIbS-eycNaGusWUi82MLHeGqyXHQXX4g087zg8I/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84OGQ1NGQwNzQwZjgvcDAwMS5qcGc",
      "imagePathAlt": "https://imgproxy.kitesheet.com/G0w89DIKVkuW96zFBkyNx6rGDVUw73wQpJ_7cVPXnm4/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84OGQ1NGQwNzQwZjgvcDAwMS5wbmc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/g1jwOr341vYcbRQdSIVk6TUcq8-nCyFjbbDnKQYY8Dw/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84OGQ1NGQwNzQwZjgvcDAwMS5wbmc"
    },
    {
      "page": 2,
      "type": "setup",
      "title": "This is a formal legal/corporate correspondence document.",
      "function": "state_demand",
      "rawType": "appendix_disclosure",
      "block": null,
      "metadata": {
        "slideType": "appendix_disclosure",
        "slideTypeCanon": {
          "name": "Appendix disclosure",
          "slug": "appendix_disclosure",
          "status": "active",
          "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616",
          "version": 1,
          "description": null
        },
        "function": "state_demand",
        "functionCanon": {
          "name": "State demand",
          "slug": "state_demand",
          "status": "active",
          "canonId": "019de52d-180b-70a3-99c7-c832ea7db96b",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 48,
        "componentCount": 5,
        "textChars": 1244,
        "nDataPoints": 0,
        "notes": "This is a formal legal/corporate correspondence document.",
        "elementsJson": [
          "paragraph"
        ],
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 20:56:59.129+00",
          "seconds": 2.565,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019dd923-622b-71dc-a6dc-fd3c3578c438/2",
        "deck": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438",
        "deckAnchor": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438#slide-2",
        "deckJson": "/decks/019dd923-622b-71dc-a6dc-fd3c3578c438.json"
      },
      "components": [
        {
          "bbox": null,
          "kind": "callout",
          "text": "We hereby inform you that Bluebell Capital is prepared to withdraw our proposal to amend the Bylaws (Item 6), subject to the following condition: BlackRock must irrevocably commit to adopting a policy – to be effective from BlackRock’s AGM 2025 - that mandates an independent Board Chair, with an announcement to be made to the market by April 15, 2024 to disclose it.",
          "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 23:21:05+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd953-1ac1-76e9-bcd8-76297720a650",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.085,
            "w": 0.696,
            "x": 0.152,
            "y": 0.725
          },
          "kind": "other",
          "text": "Signatures of Giuseppe Bivona and Marco Taricco, Partners and Co-CIOs of Bluebell Capital Partners.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:59.129+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a8983611-203e-4a06-9cf9-39f877a9b36d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.735,
            "w": 0.696,
            "x": 0.152,
            "y": 0.131
          },
          "kind": "paragraph",
          "text": "Formal letter addressed to Mr. R. Andrew Dickson, Corporate Secretary of BlackRock, Inc., dated April 5th, 2024, regarding AGM 2024 Item 6.",
          "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 20:56:59.129+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "97f91d85-576a-42f4-868a-d27a8d695d02",
          "parentComponentId": null
        },
        {
          "bbox": null,
          "kind": "quote",
          "text": "“unlike other shareholder proposals on this topic, which typically seek the adoption of a policy for an independent board chair, this proposal seeks a binding amendment to BlackRock’s Bylaws. Accordingly, voting in favor of amending the Company’s Bylaws to require separation of the Board Chair and CEO roles prevents the Board from exercising its discretion to make the best-informed decision on a leadership structure that serves the Company and its shareholders based on the relevant facts and circumstances from time to time.” — BlackRock's Opposition Statement to Bluebell Capital Partners’ propose item, 4th of April 2024.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Quote",
              "slug": "quote",
              "status": "active",
              "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a",
              "version": 1,
              "description": "Pull quote or testimonial."
            },
            "tool": {
              "name": "Authority citation",
              "slug": "authority-citation",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-49ae-7557-89ad-3fca70469b45",
              "version": 1,
              "bodyDocId": null,
              "description": "Quoting an authority figure, study, or precedent to lend weight.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 23:21:05+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd953-1ac1-76e9-bcd8-7a0b1641c531",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.025,
            "w": 0.224,
            "x": 0.388,
            "y": 0.045
          },
          "kind": "title",
          "text": "Appendix 1",
          "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 20:56:59.129+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1fe2183d-6ebd-46bf-9b9c-1f172f10cba0",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 2,
          "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": 2,
          "name": "Interest",
          "beatId": "5c55ceb2-b93d-4dd7-b600-01fce0f5802c",
          "matchId": "63a29ffa-32ce-44c5-87f9-3601e1ccebff",
          "beatType": {
            "name": "Interest",
            "slug": "aida-interest",
            "status": "active",
            "canonId": "019dd9b8-115b-7640-827f-fd115885a984",
            "version": 1,
            "description": null
          },
          "evidence": "The appendix may generate interest in further details.",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Complication",
            "slug": "complication",
            "status": "active",
            "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
            "version": 1,
            "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.7
        }
      ],
      "loops": [],
      "locked": true
    }
  ],
  "arcBeats": [
    {
      "from": 1,
      "to": 1,
      "label": "Attention",
      "description": "The title page grabs attention."
    },
    {
      "from": 2,
      "to": 2,
      "label": "Interest",
      "description": "The appendix may generate interest in further details."
    }
  ],
  "loops": []
}