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  "documentTitle": "Phillips 66 (PSX)",
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  "notes": "Uses a combination of bar charts and a callout quote to highlight the misalignment between performance and pay.",
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      "text": "Even as Phillips 66 fails to make substantial progress toward its opex targets and as its shares underperform, executives continue to be compensated at- or above-target levels.",
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      "text": "[A]wards are permitted to vest for below median relative performance which therefore fails the pay for performance hurdle ... A vote against has been applied",
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      "text": "\"[A]wards are permitted to vest for below median relative performance which therefore fails the pay for performance hurdle ... A vote against has been applied\" — Legal & General Investment Management, 5/15/24",
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      "text": "(1) Proxy-defined target and achieved controllable costs (2) Total Summary Compensation Table pay to CEO or equivalent officer, 2020-2024, and TSR over the same period (12/31/19 to 12/31/24)",
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      "kind": "title",
      "text": "FAILED GOVERNANCE CULTURE: UNAMBITIOUS COMPENSATION SCHEME",
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