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  "documentTitle": "MSCI Inc. (MSCI)",
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  "authorName": "Spruce Point Capital Management",
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  "notes": "The slide uses a red box and a callout to emphasize the low and stagnant ownership levels of directors specifically.",
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      "text": "Furthermore, consistent with our view of weakening governance measures, we find that Director ownership has noticeably declined in the past few years.",
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      "text": "Furthermore, consistent with our view of weakening governance measures, we find that Director ownership has noticeably declined in the past few years.",
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      "text": "Source: Based on MSCI's proxy statements, institutional ownership forms and Spruce Point analysis",
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      "text": "MSCI Insiders Ownership table showing percentages for CEO/Chairman, management, and directors from 2017 to 2023.",
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