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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-02-17 00:00:00",
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  "notes": "Uses two bar charts to show percentile ranking of revenue vs TSR performance.",
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      "kind": "callout",
      "text": "In collaboration with other board members, Trian's nominees will seek to craft a compensation program that better aligns management compensation with stockholder value creation",
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      "kind": "callout",
      "text": "In collaboration with other board members, Trian’s nominees will seek to craft a compensation program that better aligns management compensation with stockholder value creation",
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      "text": "TSR PERFORMANCE VS. PEER GROUP",
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      "text": "REVENUE PERFORMANCE VS. PEER GROUP",
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      "kind": "list",
      "text": "Trian believes a well constructed compensation program is one of the highest priorities of any Board as it is the primary tool to influence management behavior",
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      "kind": "list",
      "text": "Prioritizing revenue growth without regard to return on capital incentivizes management to grow revenue recklessly and often results in long-term value destruction",
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      "text": "In the case of DuPont, long term incentive (\"LTI\") is the largest component of compensation; PSU's are the largest component of LTI; revenue performance is a primary driver of PSU value",
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      "text": "Despite bottom quartile TSR performance vs. proxy peers, management's PSU payout in 2013 was 113% of target",
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      "text": "TSR performance: 113%",
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      "kind": "title",
      "text": "Poorly Constructed Compensation Programs: Example: DuPont's Performance-based Stock Units (\"PSUs\")",
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