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  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
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  "authorName": "Starboard Value",
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  "notes": "Uses an 'Independent Peer Group' to contrast with AOL's existing peer group.",
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      "text": "Key findings include: AOL's existing peer group consists of companies that are too large. Over 80% have market caps > 2x AOL's. Independent Peer Group constructed. AOL's pay is misaligned, high vs EBITDA, and executives gained while stock fell.",
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      "text": "(1) A leading independent compensation consulting firm that Starboard engaged to analyze AOL’s compensation practices. (2) Market caps based on 200-day average price... (3) AOL 2011 Proxy Peer Group: ADBE, CA, CRM, DISCA, EA, GCI, GOOG, IACI, IPG, INTU, MSFT, NFLX, NWSA, PCLN, SYMC, TWC, and YHOO.",
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