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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
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  "authorName": "Trian Partners",
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  "presentationDate": "2015-04-13 00:00:00",
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  "notes": "Uses a rhetorical question to frame the contradiction.",
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      "kind": "callout",
      "text": "Does this make sense? How can it be that the Company is doing poorly operationally but management as individuals are each doing great?",
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      "text": "Corporate Performance Rating 0% vs Individual Performance Rating 80%-100%",
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      "text": "In 2014, the Board’s Human Resources and Compensation Committee acknowledged poor operating performance as it exercised “negative discretion” and gave management a 0% payout factor for “corporate performance” under DuPont’s short-term incentive program. However, the Human Resources and Compensation Committee still found a way to pay management by giving an 80-100% payout factor for “individual performance”",
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      "text": "The Board’s compensation practices have rewarded management for failing to meet its targets. In 2013, management’s long-term incentive plan had a payout of 113% of target despite a TSR in the 25th percentile of DuPont’s peers",
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      "text": "That same year, short-term compensation payout was almost 90% despite adjusted EPS growth of 3%, significantly below the Company’s long-term target of 12% EPS growth",
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      "text": "Source: DuPont SEC filings and 2011 and 2013 Investor Day Transcripts.",
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      "text": "Trian Will Seek To End \"Crony\" Compensation",
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