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  "documentTitle": "Floor & Decor Holdings, Inc. (FND)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-07-01 00:00:00",
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  "notes": "The slide uses a table to present evidence of related-party transactions involving board members Dwight James and Ryan Marshall.",
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      "text": "We view this as an indication that FND may be stretching for ways to reduce costs and increase revenues.",
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      "text": "Despite both Dwight James and Ryan Marshall having served on the Board since 2021, FND is now disclosing related party deals with Delta and PulteGroup where both directors are employed. We view this as an indication that FND may be stretching for ways to reduce costs and increase revenues.",
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      "kind": "quote",
      "text": "“On November 1, 2023, a subsidiary of the Company entered into Corporate Incentive Agreement with Delta Air Lines, Inc. and certain other airlines to provide certain incentives to the Company for booking business travel with such airlines. Dwight James is a Senior Vice President of Delta Airlines, Inc. and member of our Board. Mr. James does not participate in these transactions and does not benefit directly from them. Prior to entering into the agreement, the arrangement was determined by the Audit Committee to be an ordinary course, arms’ length transaction.” — 2023 Proxy Statement",
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      "kind": "title",
      "text": "Stretching For Growth By Arranging Deals With Board Member Influence?",
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