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  "docSlug": "96abbaf09d0b",
  "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": "2015-04-21 00:00:00",
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  "pageNumber": 10,
  "pageCount": 87,
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  "slideType": "expose_contradiction",
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  "density": "balanced",
  "nDataPoints": 4,
  "notes": "Uses the 'put her money where her mouth is' idiom to frame the contradiction.",
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  "components": [
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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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    {
      "bbox": {
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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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      "kind": "list",
      "text": "The CEO sold ~54%(1) of her stock (~$80m)(2) after Trian first invested\n23%(1) of her equity position was sold in the week after the release of Trian's Summary White Paper (September 2014), when the stock hit a new 15-year-high of $72.83\nDespite rhetoric about a “higher growth, higher value strategy,” the CEO is not willing to “put her money where her mouth is”\nSold from long-term incentives and from stock options she had been granted, most of which did not expire until 2016 or 2017\nWe 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\nAsk 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": "The deck identifies DuPont's underperformance and various issues, such as lack of growth and poor governance.",
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