{ "docId": "019dd923-622c-750b-8b99-856ed0788e9a", "docSlug": "40e9e62f0249", "documentTitle": "PowerSchool Holdings, Inc. (PWSC)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-04-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 73, "pageCount": 117, "prevPage": 72, "nextPage": 74, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "Uses red underlining and a red callout box to highlight the discrepancy in the director's bio.", "elementsJson": [ "headline_text", "callout_box", "headshot", "paragraph", "data_table", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b99-856ed0788e9a/73", "deckHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a", "deckJsonHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a#slide-73", "components": [ { "bbox": { "h": 0.15, "w": 0.3, "x": 0.68, "y": 0.79 }, "kind": "callout", "text": "PRDO directors serve one-year terms which run until the next year's annual meeting, thus Ronald's term as director of PRDO ended 5/24/2016.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "85b8fd7b-7230-465f-a97a-5042b2668beb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.16, "w": 0.98, "x": 0.01, "y": 0.16 }, "kind": "callout", "text": "Ronald McCray’s biography understates his level of involvement with Career Education Corporation (currently doing business as Perdoceo Education Corp. NYSE:PRDO), a highly controversial operator of for-profit colleges and universities, only noting that he was involved with Career Education in 2015. In reality, Ronald joined Career Education Corporation’s Board in 2012 and served until 2016. During this period, Career Education was alleged to have engaged in deceptive data collection practices by the FTC and the District of Columbia Attorney General.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "88d92173-3464-4be7-81fe-5466b126a8a5", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "Ronald McCray's biography understates his level of involvement with Career Education Corporation (currently doing business as Perdoceo Education Corp. NYSE:PRDO), a highly controversial operator of for-profit colleges and universities, only noting that he was involved with Career Education in 2015.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-fb92-756a-9da8-0c15793892a9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.27, "w": 0.25, "x": 0.02, "y": 0.38 }, "kind": "image", "text": null, "attrs": null, "subkind": "headshot", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cd198af4-717f-47b9-88b8-bc5f2c88674c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.27, "w": 0.7, "x": 0.28, "y": 0.38 }, "kind": "paragraph", "text": "Ronald D. McCray has served as a member of our board of directors since April 2021. Currently, Mr. McCray serves as an advisor to RLJ Equity Partners, a private equity firm and 645 Ventures, a high technology venture capital firm. He previously served as chairman of the board of Career Education Corporation from July 2015 to October 2015 and served as its interim president and chief executive officer from February 2015 to April 2015. Mr. McCray has served on the board of DallasNews Corporation (NASDAQ: DALN) since September 2010, has served on the board of Pathward Financial, Inc. (formerly known as Meta Financial Group, Inc.) (NASDAQ: CASH) since February 2021, and previously served on the board of TESSCO Technologies Incorporated (NASDAQ: TESS) from November 2020 to January 2021. Mr. McCray holds a bachelor's degree in American Government and Politics from Cornell University and a J.D. from Harvard Law School.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "37a85800-e66d-48fc-a871-ccef64ceab43", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.6, "x": 0.01, "y": 0.96 }, "kind": "source-note", "text": "Source: PowerSchool IR page, PRDO FY13 & FY17 Proxy Statements, red underline Spruce Point emphasis", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0e4fba10-9ec5-452b-9cb4-1239a32872ba", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.65, "x": 0.01, "y": 0.79 }, "kind": "table", "text": "PRDO FY13 Proxy Statement: Mr. McCray was appointed to the Board effective November 13, 2012. PRDO FY17 Proxy Statement: Mr. McCray did not stand for reelection at the 2016 Annual Meeting of Stockholders.", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e39fc252-9a79-4c23-a6f3-05f91ce2d235", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.65, "x": 0.31, "y": 0.03 }, "kind": "title", "text": "Director McCray Previously Served As Director And Interim CEO Of Career Education Corporation", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "500b30f1-443f-4975-ba31-cfcbfe25d946", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "22ae1b83-a837-4fca-bd05-f09b518013e4", "evidence": "Exposing discrepancies in director biography to undermine credibility.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }