{
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  "docSlug": "88ae3a4b310b",
  "documentTitle": "Phillips 66 (PSX)",
  "authorId": "02_Elliott_Management",
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  "documentKindSlug": "regulatory-filing",
  "documentKindLabel": "Regulatory filing",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-05-16 00:00:00",
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      "kind": "disclaimer",
      "text": "Elliott's proxy solicitation. These materials and other materials filed by Elliott with the SEC in connection with the solicitation of proxies are available at no charge on the SEC's website at http://www.sec.gov. The definitive proxy statement and other relevant documents filed by Elliott with the SEC are also available, without charge, by directing a request to Elliott's proxy solicitor, Okapi Partners LLC, at its toll-free number (877) 629-6357 or via email at info@okapipartners.com.",
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      "evidence": "Multiple slides (3, 8, 10, 15, 18) urging shareholders to vote for Elliott's nominees.",
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      "name": "Cost Of Inaction",
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      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "e750a765-703c-4086-b05e-51cc2c621ecc",
      "evidence": "The deck implies that not voting for change will lead to continued misaligned CEO compensation and poor performance.",
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      "objective": "What are the consequences of not voting for change?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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