{
  "docId": "019de06f-cf3f-750e-9bf3-5c34169235bc",
  "docSlug": "b7c4365f9e39fbf1d5df6a9d012af66b",
  "documentTitle": "Legion Partners | Activist Presentation Deck | 168 slides",
  "authorId": "legion-partners",
  "authorName": "Legion Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-04-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 27,
  "pageCount": 121,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "The slide uses a list-based format to build a case for poor corporate governance and misalignment.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-cf3f-750e-9bf3-5c34169235bc/27",
  "deckHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc",
  "deckJsonHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc.json",
  "deckAnchorHref": "/decks/019de06f-cf3f-750e-9bf3-5c34169235bc#slide-27",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.05,
        "y": 0.75
      },
      "kind": "callout",
      "text": "New Chairman Patrick Gaston seemingly sat idle since 2007 while Co-Founders and CEO reaped rewards at the expense of shareholders, earning $313 million in compensation over 14 years",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f398d788-ed05-4a7a-bb5e-607705066572",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.9,
        "x": 0.05,
        "y": 0.23
      },
      "kind": "list",
      "text": "Inappropriate Chairmen Compensation; Excessive Pay for Executive Office; Excessive guaranteed compensation; Excessive Perks; Lack of Appropriate Targets; Conflicted Compensation Committee; Golden Coffin; Excessive Change of Control Provision",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9b9323bc-cab9-4a30-af74-96e48a02ef1f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "We believe there has been a breakdown in alignment with shareholders demonstrated through a history of excessive compensation and self-dealing",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c6292ad8-cd5f-46af-a28b-cac66df93184",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "Source: SEC Filings, Capital IQ, Investor Group estimates. (1) Executive Office consists of CEO Steven Temares and Executive Co-Chairmen Warren Eisenberg and Leonard Feinstein. (2) Steven Temares took a reduction to his $4m salary of $500k in FY2018 for a one year period, but did not alter his employment agreement permanently. (3) Steven Temares and Victoria Morrison both worked at Riker, Danzig, Scherer, Hyland & Perretti LLP from 1986 to 1992",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4acf79fc-aea7-4408-8324-78aa749df5c6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Compensation Overview: Historical Perspective",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "755c06a2-0ac3-4605-baec-259702a3241f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "ba6856f5-ac62-4309-ad73-c0d6732fe815",
      "evidence": "The slide explicitly lists conflicts of interest and excessive compensation as evidence of shareholder harm.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 90,
      "from": 6,
      "beatId": "edbf4f0c-6d27-47fb-8355-75d9a1065e77",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "Detailed analysis of the company's problems.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}