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  "notes": "The slide uses a dual-axis chart to contrast cost target misses with bonus payouts, followed by a testimonial from an institutional investor.",
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      "text": "At Phillips 66, the Board has consistently awarded above-target bonuses even when management failed their cost-control objectives.",
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      "text": "$140 MILLION to Phillips 66 CEOs from 2020-2024; $79 MILLION in compensation to Mr. Lashier as CEO since 2022; Promotion of Mr. Lashier to Chairman; Above-target bonuses awarded every year despite missed cost targets.",
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      "text": "\"Awards are permitted to vest for below median relative performance which therefore fails the pay for performance hurdle.\" — Legal & General Investment Management, May 15, 2024",
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      "text": "Per Bloomberg, from 9/24/19 publication of Elliott's Marathon public presentation until 2/10/25",
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