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  "docSlug": "4c8fe6013c68",
  "documentTitle": "iRhythm Technologies, Inc. (IRTC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-08-18 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 96,
  "pageCount": 101,
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  "slideType": "expose_contradiction",
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  "density": "dense",
  "nDataPoints": 45,
  "notes": "The slide uses a table of individual insider holdings and a stock chart to visualize the 'opportunistic' selling behavior.",
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      "kind": "callout",
      "text": "We highlight that iRhythm management rushed to sell stock immediately after its recent Q2 results. $4.8 million of the $5.8 million in stock sales came from CEO Blackford.",
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      "kind": "chart",
      "text": "Stock Sales by iRhythm Insiders",
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      "kind": "metric",
      "text": "insider ownership: 0.91%",
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      "kind": "paragraph",
      "text": "According to the FDA, iRhythm has been aware of at least one of the potentially fatal flaws of its Zio AT device since 2017. By our calculation, iRhythm insiders have sold nearly $190 million of stock since the beginning of 2018.",
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      "kind": "source-note",
      "text": "Source: BamSec, S&P Capital IQ, Bloomberg",
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      "kind": "table",
      "text": "Common Share Ownership of Current iRhythm Insiders (Excluding Former Executives and Departing Directors)",
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      "kind": "title",
      "text": "iRhythm Insiders Have Little Stake In The Company's Success...Or Exposure To Its Risks",
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      "evidence": "The slide explicitly links insider selling behavior to 'questionable behavior' and 'fatal flaws' to undermine management credibility.",
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      "name": "Hypothesis Test",
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      "evidence": "The document presents various criticisms of iRhythm's management and governance.",
      "position": 2,
      "objective": "To test the hypothesis that iRhythm's management and governance are flawed",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
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