{
  "docId": "019dd923-622b-71dc-a6d9-aa56741b6a55",
  "docSlug": "fade76df1897",
  "documentTitle": "DSP Group, Inc. (DSPG)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-05-13 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 31,
  "pageCount": 50,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 5,
  "notes": "Uses a table to detail specific individuals and their realized gains to build a case of self-interest.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "data_table",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-aa56741b6a55/31",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-aa56741b6a55#slide-31",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.08,
        "y": 0.77
      },
      "kind": "callout",
      "text": "We seriously question whether these individuals have made decisions with the best interests of DSP in mind as they were handsomely profiting from their ownership of CEVA stock and options",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "418a0935-9c6c-4e93-8e44-527356911409",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.08,
        "y": 0.19
      },
      "kind": "list",
      "text": "Based on publicly available filings, the CEO of DSP, Eliyahu Ayalon, its outside legal counsel, Bruce Mann, and two Board members, Zvi Limon and Louis Silver, realized gains of almost $6 million from trading in CEVA stock and options since 2007.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22ffaae0-d9dc-4a46-97ec-99ea9b688866",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Realized Gain: $5,622,990",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-9630-847fe3e65876",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.08,
        "y": 0.7
      },
      "kind": "paragraph",
      "text": "Messrs. Ayalon, Limon, Mann, and Silver benefited greatly from the appreciation in CEVA's stock price since the noncompetition agreement between DSP and CEVA expired in 2007",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9ca65800-3327-47cb-a96c-d4fcebe36ce2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.7,
        "x": 0.08,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "(1) Constitutes total profits realized by each person from exercise of CEVA stock options from 2007 to 2012 as reported in his Section 16 filings with the SEC. Profit calculated as difference between amount realized upon sale of shares minus cost of exercise of options.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "42541a58-c55f-4dbb-9966-0ce032bba428",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.8,
        "x": 0.1,
        "y": 0.335
      },
      "kind": "table",
      "text": "Table showing Name, Relationship to DSP, Relationship to CEVA, and Realized Gain for four individuals plus a total.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1cc56761-20c5-439f-9067-f96e4c0df251",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.08,
        "y": 0.09
      },
      "kind": "title",
      "text": "The CEO, Outside Legal Counsel and Two Board Members of DSP Made a Significant Amount of Money from CEVA Stock and Options",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6285a665-c62e-4a27-826c-b7cc5487ea67",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "05415ec2-b366-4094-97f3-29c0ae38c065",
      "evidence": "The slide contrasts the leadership's fiduciary duty to DSP with their personal financial gain from a competitor (CEVA).",
      "confidence": 0.85
    }
  ],
  "arcBeats": [
    {
      "to": 36,
      "from": 6,
      "beatId": "81006f69-47c8-46d7-990f-1be8bffe15d7",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "Slides 6-36 expose contradictions and critique DSP Group's management and board.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 36,
      "from": 6,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "461286b5-1828-4e59-8f68-0c15c27a66ab",
      "evidence": "The deck repeatedly highlights the consequences of not changing the board and management.",
      "position": 0,
      "objective": "The cost of inaction is further underperformance and value destruction.",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}