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  "documentTitle": "Box, Inc. (BOX)",
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  "authorName": "Peter A. Feld",
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  "presentationDate": "2021-08-16 00:00:00",
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  "notes": "This is a text-heavy page from a shareholder letter, functioning as a direct response to management's proxy materials.",
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      "text": "It appears that Box is attempting to mislead stockholders and hoping that time will run out before the Company is again forced to correct this inaccuracy.",
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      "text": "The claim regarding Jack Lazar and Mellanox is ridiculous and blatantly false – I have never served on the board of Mellanox, an easily verifiable fact that could have been confirmed with a simple question to Mr. Lazar. Yet again, this raises the question of whether Box is more concerned with sharing facts with its stockholders or attempting to create a favorable narrative ahead of an election contest.",
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      "text": "Box’s claims that my addition to the Board would result in additional “interlocks” are also inaccurate. To be clear, Bethany Mayer’s appointment to the board of Marvell was announced in conjunction with my decision to not stand for re-election following a comprehensive turnaround at Marvell, and we served on the board together for less than two months.",
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      "kind": "paragraph",
      "text": "Furthermore, we are seeking the election of a minority slate of directors, and, if elected, Starboard’s direct representative would hold one seat and be unable to take any unilateral actions without the support of the majority of the Board.",
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      "text": "Lastly, Box claims that its recent performance issues can primarily be attributed to the ongoing pandemic. However, as we clearly outlined in our presentation, many cloud-native companies exposed to digital transformation trends saw improved revenue growth in 2020 as enterprises increasingly relied on technology, especially cloud-native software, to accomplish their day-to-day tasks.",
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      "kind": "paragraph",
      "text": "To be clear, we strongly believe in the significant long-term value creation opportunity that exists at Box, and we never demanded Box sell the Company for a price in the “low-twenties.” In fact, after Box made this misleading claim in its preliminary proxy statement, the Company actually removed this statement from its definitive proxy statement, likely in response to comments from the SEC, implicitly acknowledging the inaccuracy of the claim.",
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      "text": "Peter joined Marvell at a critical time for the Company and drove crucial changes that were needed to get the company back on track. His insights and influence as a director have catalyzed the changes that have transformed Marvell into a healthy, well-functioning company with strong financial results. — Matt Murphy, CEO of Marvell",
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      "text": "2 Source: Public company filings, Bloomberg. Pre-pandemic projections as of February 27, 2020.",
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