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  "docSlug": "80938ee8f28c",
  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-04-22 00:00:00",
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  "pageNumber": 10,
  "pageCount": 88,
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  "slideType": "expose_contradiction",
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  "nDataPoints": 4,
  "notes": "Uses the 'put money where mouth is' trope to frame the CEO's actions as hypocritical.",
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      "kind": "callout",
      "text": "Ask yourself: If the CEO and Board members truly believed in their strategy wouldn’t they be buying stock?",
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    {
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      },
      "kind": "disclaimer",
      "text": "Source: Capital IQ, Bloomberg and SEC Filings. (1) Information based on Form 4 filings and Company proxy statements... (2) Information based on DuPont Form 4 filings...",
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      "text": "The CEO sold ~54% of her stock (~$80m) after Trian first invested. 23% of her equity position was sold in the week after the release of Trian’s Summary White Paper. Despite rhetoric about a “higher growth, higher value strategy,” the CEO is not willing to “put her money where her mouth is”. Sold from long-term incentives and from stock options she had been granted, most of which did not expire until 2016 or 2017. We believe the reason management receives equity as part of compensation is to ensure their interests are aligned with the long-term interests of shareholders. The intention is not for management to sell prematurely. Ask yourself: If the CEO and Board members truly believed in their strategy wouldn’t they be buying stock?",
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      "text": "CEO stock ownership: 54%",
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      "kind": "title",
      "text": "Actions Speak Louder Than Words: The CEO Seems to Lack Confidence In DuPont’s Share Price",
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      "evidence": "Contrasts CEO's 'higher growth' rhetoric with actual stock selling behavior.",
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      "evidence": "Exposing contradictions in DuPont's strategy and performance",
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