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  "docSlug": "312cc29b1436",
  "documentTitle": "Target Corporation (TGT)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-05-11 00:00:00",
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  "pageNumber": 21,
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  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The slide uses a red dashed circle to emphasize the $428.5 million total sales figure.",
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      "kind": "callout",
      "text": "We believe that Target’s compensation plan does not foster an ownership culture at Target, as senior management and the board have sold $429 million of stock in the last five years",
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      "text": "Total Sales: $429 million",
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      "kind": "paragraph",
      "text": "How can we be sure that Target’s board and managers are truly focused on creating long-term shareholder value if they sell so much stock?",
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      "text": "(1) Based on the trailing five years prior to the announcement of Pershing Square's nomination of the Nominees for Shareholder Choice on 3/17/2009. (2) Includes only non-employee directors.",
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      "kind": "table",
      "text": "Last Five Years of Activity in Target Stock",
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      "kind": "title",
      "text": "Board Does Not Foster an Ownership Culture",
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      "evidence": "The document agitates the problems, highlighting the consequences of the board's actions and inactions.",
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