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  "documentTitle": "Legion One Span Presentation May 2021",
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  "notes": "Includes specific mention of the 'Rule of 40' framework.",
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      "text": "\"Rule of 40\" approach: add Software revenue growth and Software free cash flow (\"FCF\") margin together (should equal 40 or better)",
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      "text": "Focus should be on efficient growth, not \"growth at all costs\"\nUtilize software-oriented recurring revenue metrics such as ARR in conjunction with profitability\n\"Rule of 40\" approach: add Software revenue growth and Software free cash flow (\"FCF\") margin together (should equal 40 or better)\nFCF component would ensure well-managed working capital and disciplined capital expenditures, including any capitalized R&D\nHardware FCF should be key metric for this segment given state of managed decline\nWith these changes, consolidated GAAP revenue and Adj. EBITDA should no longer be needed\nElimination would reduce perverse incentives stockholders have witnessed for years\nShift mix of long-term equity awards to be more performance-based (and less time-based)\nReduce duplicative components between annual and long-term plans\nReview the Company's peer group to ensure appropriate comparableness\nEnsure all performance hurdles are appropriately set, including the newly introduced TSR component",
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      "text": "Source: SEC Filings, Legion Partners",
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      "text": "Management should be incentivized to drive efficient Software recurring revenue growth as this is the key driver for long-term value",
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      "kind": "title",
      "text": "Our Recommendations on OSPN Executive Compensation",
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