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  "documentTitle": "U.S. Concrete Inc (USCR)",
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  "authorName": "Ben Axler",
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      "kind": "callout",
      "text": "Did USCR's Board Finally Catch On To Management's Adjusted EBITDA Inflation Scheme?",
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      "text": "Our concerns about Adj. EBITDA quality are amplified by the fact that management is heavily compensated on hitting seemingly arbitrary and inflated Adj. EBITDA targets.",
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      "text": "Performance Metric Selected: Our Compensation Committee periodically reviews the appropriateness of the performance measures used in our incentive plans...",
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      "text": "Insider Comp % of EBIT: 11.2%",
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      "text": "Our concerns about Adj. EBITDA quality are amplified by the fact that management is heavily compensated on hitting seemingly arbitrary and inflated Adj. EBITDA targets.",
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      "text": "Performance Metric Selected: Our Compensation Committee periodically reviews the appropriateness of the performance measures used in our incentive plans (including the 2016 Plan), the degree of difficulty in achieving the targets based on these measures, as well as certain strategic and nonfinancial objective criteria. In 2016, the Compensation Committee again selected Total Adjusted EBITDA as the performance measure used for determining whether bonuses would be paid under the 2016 Plan. The Compensation Committee also reviewed the target level of Total Adjusted EBITDA under the 2016 Plan and adjusted it as appropriate to account for strategic acquisitions throughout 2016. — 2017 Proxy Statement",
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      "text": "Fiscal Year, Targeted EBITDA YoY Growth, % of Target Payout Received, Total Insider Comp ($mm), GAAP EBIT, Insider Comp % of EBIT",
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      "text": "Insiders Motivated On Adjusted EBITDA",
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