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  "documentTitle": "Edgewater Technology, Inc. (EDGW)",
  "authorId": "21_Ancora",
  "authorName": "Jim Chadwick",
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  "presentationDate": "2017-01-24 00:00:00",
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  "notes": "The slide uses a table to highlight the lack of 'skin in the game' for legacy directors.",
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      "text": "The four legacy directors mentioned below have purchased a combined total of 7,700 shares in the past 10 years",
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      "text": "(1) Ownership % from Edgewater's definitive consent revocation statement filed 01/09/2017\n(2) Total shares owned from Edgewater's definitive consent revocation statement filed 01/09/2017\n(3) Insider purchase activity from CapIQ",
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      "text": "The four legacy directors mentioned below have purchased a combined total of 7,700 shares in the past 10 years",
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      "text": "Given the recent one-year extension of Ms. Singleton and Mr. Clancey's employment agreements, we are concerned that the Board may be beholden to Ms. Singleton and has renewed her contract to serve as CEO despite her apparent failure in that capacity evidenced by the deep stock and operating underperformance",
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      "text": "The last purchase made by these directors was 11/27/2012 (700 shares purchased by Paul Flynn)\nMr. Guzzi and Mr. Loeb have not purchased a single share in the last 10 years",
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      "kind": "list",
      "text": "The Company's Jan 10, 2016 presentation states that Shirley & David's 12.4% ownership in EDGW stock is a clear alignment with shareholders yet completely fails to mention that over 40% of the shares held by Shirley and David are options that were granted by the Board as a form of compensation",
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      "kind": "list",
      "text": "These decisions and holding senior executives appropriately accountable for the Company underperformance is put in jeopardy by Ms. Singleton serving in the combined role of both CEO and Chairman of the Board",
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      "kind": "list",
      "text": "Six of the eight members on Edgewater's current Board have served as Edgewater directors for over 10 years and have failed to take action to hold Ms. Singleton accountable for a tenure in which the Company has failed its stockholders",
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      "text": "Shares Purchased in Last 10 Years: 7,700",
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      "text": "Board's Lack of Independence",
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