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  "documentTitle": "GCP Applied Technologies (GCP)",
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  "presentationDate": "2020-05-11 00:00:00",
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  "notes": "The slide uses excerpts from legal agreements to demonstrate that the appointment allowed for accelerated vesting of equity awards.",
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      "kind": "callout",
      "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": "We believe the Board's decision to appoint Mr. Poling Executive Chairman demonstrates the Board's inability to act with the best interests of stockholders as the primary objective.",
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      "text": "$687,492 in RSUs granted to Gregory Poling on 2/21/2019",
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      "text": "$1,375,000 in PBUs granted to Gregory Poling on 2/21/2019",
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      "text": "We believe the Board's decision to appoint Mr. Poling Executive Chairman demonstrates the Board's inability to act with the best interests of stockholders as the primary objective.",
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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 find it incomprehensible that the Board appointed Mr. Poling to the newly created role of Executive Chairman and effectively committed to paying two chief executives while also providing Mr. Poling with additional time for his 2019 equity awards to vest.",
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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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      "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, which were filed as exhibits to the 10-Q filed with the SEC on May 9, 2017, and which terms we believe apply to 2019 equity awards granted to Mr. Poling on February 21, 2019.",
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      "text": "We Were Shocked by the Board's Decision to Appoint Greg Poling Executive Chairman of the Company",
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