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  "docSlug": "jarvis-legion-one-span-presentation-may-2021",
  "documentTitle": "Legion One Span Presentation May 2021",
  "authorId": "legion-one-span-presentation-may-2021",
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  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-05-01 00:00:00",
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  "pageNumber": 42,
  "pageCount": 154,
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  "density": "balanced",
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  "notes": "Uses cherry-picking imagery to highlight the Board's manipulation of data.",
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  "imagePath": null,
  "slideHref": "/slides/019f6b8f-2c96-7579-a769-2e509f3e13c4/42",
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        "h": 0.08,
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      "kind": "callout",
      "text": "Peer set used is derived from the Company’s proxy statement (for compensation analysis), not the Company Peers used for TSR comparison in its Fiscal 2020 Form 10-K – this change conveniently omits the two highest performing peers from the Company Peers",
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      "kind": "chart",
      "text": "OSPN Relative TSR vs. Proxy Statement Peers",
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      "componentId": "7014fd3b-86e2-46b1-9279-8d1e8551c2eb",
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      "kind": "other",
      "text": "Note: “Proxy Statement Peers” are the Company’s self-described peer group as set forth in its Proxy Statement on Form DEFC14A (4/26/21) and include ATEN, AMSWA, BL, CRNC, APPS, PRO, QADA, QLYS, RPD, SAIL, SCWX, TENB, VRNS, ZIXI (excludes Forescout Technologies, Inc. and MobileIron, Inc. which were both acquired in 2020)\nSource: OSPN Letter to Stockholders (5/10/21), Capital IQ (4/1/18 – 4/30/21 – to match Company selected dates), Legion Partners’ Estimates",
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      },
      "kind": "paragraph",
      "text": "The Company claims that “from the time Legion first invested, in April 2018, we have outperformed our peers from a TSR perspective” – however, the Board utilized median TSR performance, not average – utilizing the average is a widely accepted practice and reveals severe underperformance of OSPN stock",
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      "kind": "title",
      "text": "The Board Believes it Has Delivered Value for Legion Partners",
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      "evidence": "The slide explicitly contrasts the Board's claim with the reality of using average TSR.",
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  "arcBeats": [
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      "beatId": "949d87d3-4d2d-49c1-8245-156aae134348",
      "arcName": "Overcoming the Monster",
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      "beatName": "The Struggle for Change",
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      "evidence": "Legion presents its efforts to engage with the board and push for change",
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