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  "documentTitle": "Zebra Technologies Corp. (ZBRA)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-08-08 00:00:00",
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      "text": "Previous Allegations of Bad Financial Management",
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      "kind": "callout",
      "text": "Generous \"Reward\" For Leaving Zebra In Poor Financial Condition",
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      "text": "Spruce Point believes that Zebra needs a refresh at the Board level. We are concerned that 50% of the Board has been entrenched for over a decade with Directors Maniere and Smith having served for over two decades.",
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      "text": "Spruce Point believes that Zebra needs a refresh at the Board level. We are concerned that 50% of the Board has been entrenched for over a decade with Directors Maniere and Smith having served for over two decades.",
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      "kind": "quote",
      "text": "Upon transition from CEO to Executive Chair on March 1, Mr. Gustafsson's base salary was reduced to $200,000 and he ceased participation in the 2023 Zebra Incentive Plan as of that date. Additionally, he received a one-time $9,000,000 equity award of time-vested RSUs that vest as of the 2024 Annual Meeting of Stockholders. — Zebra Executive Chair Agreement",
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      "text": "Sources: Zebra Proxy Statement, Dycom Class Action Settlement, Dycom Proxy Statement, Gustafsson Executive Chair Agreement",
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      "text": "Concerns With Zebra's Board",
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