{
  "docId": "019dd923-622c-750b-8b9c-571191cc7adb",
  "docSlug": "48a8cbf2f1d7",
  "documentTitle": "Arconic Inc. (ARNC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-04-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 240,
  "pageCount": 336,
  "prevPage": 239,
  "nextPage": 241,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 18,
  "notes": "The chart highlights the 6.4% percentile mark to show that a small group of investors holds 83% of shares.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_vertical",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-571191cc7adb/240",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb#slide-240",
  "components": [
    {
      "bbox": {
        "h": 0.11,
        "w": 0.46,
        "x": 0.51,
        "y": 0.03
      },
      "kind": "callout",
      "text": "Although there are ~400,000 shareholders of Arconic, more than 80% of the shares are held by less than 5% of holders. We believe the Company's excuse that it could not achieve a supermajority vote is not credible",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7891aba8-e85a-486b-8d44-7a5f2f6d4512",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "chart",
      "text": "Arconic Share Range Analysis",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c8906ace-898f-44ae-a0b3-14ce1ddd34e9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "shareholder concentration: 83%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a09d-4b565302a42a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.94,
        "x": 0.03,
        "y": 0.7
      },
      "kind": "paragraph",
      "text": "NCR Corp.'s Extraordinary Effort: One company, NCR Corporation, made a distinct effort to ensure its declassification proposal surpassed the 80 percent of outstanding shares supermajority vote requirement...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0034ce00-b07e-471f-b584-008622d2fc61",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "One company, NCR Corporation, made a distinct effort to ensure its declassification proposal surpassed the 80 percent of outstanding shares supermajority vote requirement. ... NCR took the extraordinary step to adjourn its meeting twice in order to solicit additional votes for the declassification proposal. When the annual meeting convened for a third time, the declassification proposal had received the requisite votes of outstanding shares for passage at 80.1 percent. — ISS Post Season Review, October 12, 2016",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a09d-47d7b44a0e33",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.03,
        "y": 0.93
      },
      "kind": "source-note",
      "text": "Source: Broadridge reports provided to Elliott",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ccd3bf3d-a528-4077-8492-b9f1efe05e59",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.45,
        "x": 0.03,
        "y": 0.04
      },
      "kind": "title",
      "text": "Frustrating Shareholder Rights: Disingenuous Efforts (cont.)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c9260ffe-2a2d-48d7-82b7-8006278466f1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "70448e46-c9cf-4908-8dc6-a726dae68bc0",
      "evidence": "Contrasts company claim with data and precedent",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}