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  "docSlug": "ef179647d85b",
  "documentTitle": "SandRidge Energy (SD)",
  "authorId": "14_Icahn",
  "authorName": "Carl C. Icahn",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-05-24 00:00:00",
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  "pageNumber": 15,
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  "nDataPoints": 18,
  "notes": "The slide uses a combination of narrative critique and a supporting data table to frame the board's compensation decisions as irresponsible.",
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      "kind": "callout",
      "text": "As unfathomable as this is, Bennett's employment was terminated \"without cause\" (a \"for cause\" termination would have reduced the payment), a shocking decision considering he led the company through both a bankruptcy and the Bonanza Creek debacle.",
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      "text": "Following the bankruptcy... board approved a base salary for James Bennett in the 90th percentile... stock price dropped 10%, Adjusted EBITDA fell 18%, and production fell 23%. Additionally, under Bennett's employment agreement... $17.1 million in severance... As unfathomable as this is, Bennett's employment was terminated 'without cause'... Finally, in an effort to avoid responsibility, the board has consistently stated that these egregious compensation plans were the work of the pre-bankruptcy board...",
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      "text": "Total Compensation: $55.8 million",
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      "kind": "table",
      "text": "Select Historical Compensation (See SandRidge Proxy Statements for details): James D. Bennett, CEO 2011-2017 5,803,843 3,167,001 31,955,266 13,459,885 1,422,784 55,814,815 Julian Bott, CFO 2015-2017 1,013,462 300,000 5,543,073 3,376,631 155,762 10,388,928 Duane Grubert, Investor relations 2015-2017 942,274 225,001 3,564,442 2,317,433 2,592,773 9,641,924",
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      "text": "Excessive Compensation",
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      "text": "The Current Board's Track Record",
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