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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "William Ackman",
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      "text": "New compensation structure aligns with the firm’s and investors’ interests: Reinforces our focus on long-term performance and value creation; Encourages long-term retention, with minimal, but healthy, levels of turnover after long tenures",
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      "text": "Pershing Square previously had two forms of compensation: Base salary and bonus compensation; Profits interest in management and incentive fees – behaves like equity but terminates when employee departs firm",
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