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  "documentTitle": "C3.ai, Inc. (AI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-02-16 00:00:00",
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  "notes": "The slide uses a rhetorical question to frame the lack of a clawback policy as a governance failure.",
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      "kind": "callout",
      "text": "Why did the compensation committee grant options on much harsher terms to a new CFO than to the CEO and his long-time associate Mr. Abbo? We observe that C3 does not have a formal Clawback Policy for fraud adopted.",
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      "text": "Equity compensation is a key component of our executive compensation program that is designed to further align the interests of our executive officers with the interests of our stockholders and maintain the focus of our leadership team on long-term performance.",
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      "text": "In August 2020, our board of directors granted options to purchase 6,116,666 shares of common stock to Mr. Siebel.",
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      "text": "In October 2020, our compensation committee granted options to purchase 1,166,667 shares of common stock to Mr. Barter.",
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      "text": "In July 2020, our compensation committee granted options to purchase 166,667 shares of common stock to Mr. Abbo.",
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      "text": "No Standard Clawback Policy For Fraud",
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