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  "documentTitle": "GCP Applied Technologies (GCP)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2020-04-30 00:00:00",
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  "notes": "Uses excerpts from legal/proxy filings to build a case of potential board misconduct.",
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      "kind": "callout",
      "text": "We are concerned that the Board may have chosen to keep Mr. Poling employed through 2019 in order to allow for him additional time to vest his 2019 equity awards.",
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      "text": "Randy Dearth had previously been the CEO of a public company and Messrs. Dearth and Poling had overlapped at GCP for almost one year, providing adequate time to transition by the time Mr. Dearth was appointed CEO. In light of this, together with the dismal performance that occurred under Mr. Poling’s leadership as CEO, we question whether the Board kept Mr. Poling employed after Mr. Dearth’s appointment as CEO to allow for further vesting of equity awards granted in February 2019.",
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      "kind": "quote",
      "text": "\"For Messrs. Poling['s]... award the grant date was February 21, 2019.\" — 2020 Proxy Filing",
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      "kind": "source-note",
      "text": "Source: GCP's public filings. Note: The agreements cited in this slide are the Form of GCP Applied Technologies Inc. Performance-Based Stock Unit Award Agreement and Form of GCP Applied Technologies Inc. Restricted Stock Unit Award Agreement...",
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      "kind": "table",
      "text": "Greg Poling Received Equity Awards in February 21, 2019, Which Required a 6-Month Period to Vest in Retirement",
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      "text": "Restricted Stock Units Vesting Terms In Retirement",
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      "kind": "title",
      "text": "We Have Concerns About the Board's Motivations for Appointing Greg Poling Executive Chairman of the Company",
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