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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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  "notes": "Uses a cartoon illustration of a CEO with money bags to emphasize the critique.",
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      "kind": "callout",
      "text": "WHY IS DR. KLEINFELD’S RELATIVE VALUE ACCELERATING?",
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      "text": "IN 2012, DR. KLEINFELD TOLD COMPANY OFFICERS THAT THEIR BONUSES WOULD BE CUT BY 20% \"BECAUSE OF ISS\" CRITICISM",
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      "text": "CEO Pay Relative to Average Pay of Other Company Named Executive Officers",
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      "text": "SWIB will vote AGAINST this proposal, as the following concern(s) remain: CEO pay is 5.00 times greater than the next highest paid NEO. State of Wisconsin Investment Board – 2016 Proxy Voting Report (Alcoa 2016 Annual Meeting Vote)",
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      "text": "ARNC US Equity vs MEDIAN",
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      "text": "“SWIB will vote AGAINST this proposal, as the following concern(s) remain: CEO pay is 5.00 times greater than the next highest paid NEO.” — State of Wisconsin Investment Board – 2016 Proxy Voting Report (Alcoa 2016 Annual Meeting Vote)",
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      "text": "Source: Bloomberg. Peer median uses Arconic’s 2017 Proxy Peers",
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      "kind": "title",
      "text": "Lack of Alignment: Dr. Kleinfeld’s Quintuple Value",
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