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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-09-29 00:00:00",
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  "notes": "Uses a red flag icon and a red arrow to draw attention to the contradiction between stated fiscal responsibility and actual compensation metrics.",
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      "kind": "callout",
      "text": "Questions For Management And The Board: Why only 25% tied to \"Fiscal Responsibility\"? Where is cash from operations as a criteria? Why has LSPD never given public guidance on target active Lightspeed Payments customers? Were these metrics adjusted for acquisitions? Why are the actual targets not disclosed? Are these revenue and EBITDA targets the same as public guidance to investors?",
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      "text": "Historically, the CEO has not been held to stringent financial performance. In FY 2020, only 25% of his short-term incentive compensation was linked to \"fiscal responsibility\". Yet, wait just one second. In FY 2020, LSPD suspended its practice of giving investors guidance on Cash From Operations (CFO) which it once said was the best metric to follow its growth. Shouldn't the CEO have been penalized for this? Instead, the compensation committee seems to have ignored it. Was this a fiscally responsible action?",
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      "kind": "callout",
      "text": "Historically, the CEO has not been held to stringent financial performance. In FY 2020, only 25% of his short-term incentive compensation was linked to \"fiscal responsibility\".",
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      "kind": "paragraph",
      "text": "CEO Performance-Based Compensation: On account of his short-term incentive compensation for Fiscal 2020, our CEO, Mr. Dasilva, was granted a fixed number Performance Options...",
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      "text": "Source: 2020 Proxy",
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      "text": "CEO Pay Linkage",
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