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  "docId": "019f6b8f-3408-76ba-99db-827091d2379c",
  "docSlug": "jarvis-macellum-spartan-nash-presentation-may-2022",
  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
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  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-05-01 00:00:00",
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  "pageNumber": 14,
  "pageCount": 64,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "Uses a callout box to anchor the 'lowest stock price' argument.",
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      "kind": "callout",
      "text": "2019 Lowest Stock Price Since Merger (08/14/19) $8.94 (08/12/19) $9.45",
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      "kind": "chart",
      "text": "SPARTANNASH STOCK PRICE SINCE 2014",
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      "componentId": "6a3f29b4-a138-4fb5-95de-4b6c278da659",
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      "text": "The Board ignores a long period of consistently poor stock price performance. SpartanNash's stock price performance since August 2019 starts from its lowest-ever stock trading price. Recent stock price performance is largely a function of how much grocers have benefited during the COVID-19 pandemic. The Board should not get credit for overseeing the Company being driven to its all-time low trading price and then using that as a starting point to highlight growth.",
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      "kind": "source-note",
      "text": "Source: Bloomberg LP., Data as of 03/17/2022",
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      "kind": "title",
      "text": "THE BOARD'S FOCUS ON SHORT-TERM OUTPERFORMANCE IS MISLEADING",
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      "evidence": "Exposing the board's misleading use of data to claim success.",
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      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document agitates the problems by highlighting poor governance, failed M&A, and misaligned executive compensation",
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      "confidence": 0.9,
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  "loops": [
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      "name": "Cost Of Inaction",
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      "bestFor": "Urgent budget requests, compliance, risk mitigation",
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      "evidence": "The document highlights the long-term underperformance of SpartanNash and the potential value destruction if no action is taken",
      "position": 0,
      "objective": "What is the cost of inaction for SpartanNash shareholders?",
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