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  "documentTitle": "Leidos Holdings, Inc. (LDOS)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-02-16 00:00:00",
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      "text": "We observe that Free Cash Flow (Operating Cash Flow – Capex) was recently added as a new factor influencing management short term annual incentive bonus. We believe this provides greater incentive to manipulate results. In the first year the metric was added, management vastly exceeded its target, while other metrics modestly exceeded targets",
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      "text": "Additionally, the Committee introduced a new metric of free cash flow replacing average days working capital. Free cash flow was instituted in 2019 as a measurement of fundamental performance. — Leidos Proxy Statement",
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