{
  "docId": "019dd923-622b-71dc-a6dc-4685d052e00b",
  "docSlug": "75807c941317",
  "documentTitle": "Phillips 66 (PSX)",
  "authorId": "14_Icahn",
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  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-05-12 00:00:00",
  "orientation": "portrait",
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  "pageNumber": 27,
  "pageCount": 35,
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  "nextPage": 28,
  "slideType": "thesis_headline",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "This is a social media ad creative (likely LinkedIn) used for an activist campaign.",
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      "kind": "callout",
      "text": "Phillips 66 Shareholders Pay Dearly for Underperformance | Elliott",
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      "kind": "callout",
      "text": "Phillips 66's (NYSE: PSX) CEOs reaped an eye-popping $140M from 2020-2024—despite ongoing stock and operating underperformance and missed cost targets.",
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      "text": "Streamline 66",
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    {
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      "text": "CEO compensation: $140M",
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      "toolName": "Quantification",
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      "componentId": "019dd953-0f1d-76e6-870e-717748237463",
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      "kind": "paragraph",
      "text": "Phillips 66's (NYSE: PSX) CEOs reaped an eye-popping $140M from 2020-2024 — despite ongoing stock and operating underperformance and missed cost targets. Why are shareholders footing the bill for big CEO paydays in the face of lackluster returns? #Streamline66",
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      "kind": "title",
      "text": "RICH PAY, LACKLUSTER RETURNS: $140M TO PHILLIPS 66 CEOS FROM 2020-2024",
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  "metrics": [],
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  "frameworks": [
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      "matchId": "15702690-36f2-460a-b375-05d3a5748a5a",
      "evidence": "Contrasts high CEO pay with poor company performance metrics.",
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      "beatName": "The Victory",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The deck presents Elliott's plan for Streamline 66 and the nominees for Phillips 66's board",
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      "name": "Cost Of Inaction",
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      "evidence": "The deck presents data on Phillips 66's underperformance and CEO compensation",
      "position": 1,
      "objective": "Highlight the cost of inaction for Phillips 66 shareholders",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
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}