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  "documentTitle": "Tempus AI, Inc. (TEM)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-05-28 00:00:00",
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      "kind": "callout",
      "text": "Also, we find it noteworthy that the CFO was no longer a named executive in 2024",
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      "text": "In connection with the preparation of our consolidated financial statements, we identified a material weakness in our internal control over financial reporting as of December 31, 2021, as described below. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our consolidated financial statements will not be prevented or detected on a timely basis. We did not design or maintain an effective control environment due to an insufficient complement of personnel with the appropriate level of technical accounting and financial reporting knowledge and experience commensurate with our financial reporting requirements. We determined the material weakness described above has been remediated as of December 31, 2022 as management has completed the design and implementation of controls over technical accounting and financial reporting, including the hiring of a Chief Accounting Officer and other key technical accounting and financial reporting roles to further develop and document. our accounting policies and financial reporting procedures, including ongoing senior management review.",
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      "text": "The Company's proxy statement reveals that Tempus did not maintain a formal bonus plan in 2024, and we presume the same was true for 2023. Tempus also said that it identified a material weakness of internal controls over financial reporting in 2021 but that it had been remediated as of 2022. Despite these claims, we are alarmed to find a recent revision to Mr. Fukushima's 2023 bonus, which we believe was paid in cash.(1) Although the revision was only $25,000 and may not be viewed as material, it does concern us that Tempus continues to have weak financial reporting and controls that cannot correctly report cash.",
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      "text": "1) 2024 bonuses were paid in cash and the 2023 bonus figure was not reported under Stock Awards. Source: Tempus proxy statement and S-1",
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      "text": "Concerning Revision To Cash Just Appeared, Calling Into Question Financial Controls",
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