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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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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-05-01 00:00:00",
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  "pageNumber": 98,
  "pageCount": 154,
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  "notes": "The slide uses a series of rhetorical questions to undermine the Board's credibility regarding their strategic review process.",
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  "slideHref": "/slides/019f6b8f-2c96-7579-a769-2e509f3e13c4/98",
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      "kind": "callout",
      "text": "While the Board continues to criticize Legion’s ideas, the Board has failed to present any credible plan to drive long-term, sustainable value",
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      "text": "When did this strategic review occur, and how long did the process take?\nWere the Company’s financial advisors involved, or did the Board complete this “review” on its own?\nWhy did the Board not provide any details of this strategic review process, such as the number of parties interested and bids received (as it did for the OSS strategic review)?\nAs part of this process, did the Board respond to the inbound interest it received in late 2020 regarding a strategic transaction for Hardware? Did the Board speak with any third parties?\nIf the Board completed a genuine strategic review of Hardware, it should possess standalone Hardware financials – so why has the Board refused to disclose segment-level financials?\nWhy is a sale of the economic rights to Hardware “not feasible”?\nWhy did the Board wait until May 10, 2021, in the middle of an ongoing proxy contest, to communicate such critical news to OSPN stockholders?",
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      "kind": "paragraph",
      "text": "On May 10, 2021, the Board discloses that it “explored potential strategic alternatives” of Hardware, raising far more questions than it answers",
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      "kind": "source-note",
      "text": "Source: SEC Filings, OSPN Letter to Stockholders (5/10/21), Legion Partners",
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      "kind": "title",
      "text": "An 11th Hour “Strategic Review” of Hardware",
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      "arcName": "Overcoming the Monster",
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