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  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
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  "presentationDate": "2012-05-01 00:00:00",
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  "notes": "The slide uses a red box to highlight the discrepancy between AOL's performance and executive compensation.",
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      "text": "AOL's CEO and CFO have realized substantially more value from restricted stock and options than the Independent Peer Group despite AOL having the worst stock price performance of the group. AOL's equity grants in the last two years were time-based, rather than performance based, allowing the Company's executives to realize value independently of Company performance.",
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      "text": "AOL's CEO and CFO have realized significant value in terms of restricted stock vesting in the past two years while shareholders experienced a decline in the stock price.",
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      "text": "(1) Independent Peer Group: ACOM, CCO, ELNK, GCI, IACI, IPG, LAMR, NYT, UNTD VCI, VCLK, WBMD, WPO, and YHOO. Selected by independent compensation consulting firm engaged by Starboard. (2) CEO and CFO realized value from stock and options calculated by independent compensation consulting firm engaged by Starboard. Source: Compensation data from company proxy filings, financial data from S&P Insights.",
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      "text": "CEO and CFO Realized Value from Stock and Options Relative to Independent Peer Group",
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      "text": "CEO and CFO realized value from stock and options have been higher than the Independent Peer Group despite the worst stock price performance",
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