{
  "docId": "019f6b8f-3408-76ba-99db-827091d2379c",
  "docSlug": "jarvis-macellum-spartan-nash-presentation-may-2022",
  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
  "authorId": "macellum-spartan-nash-presentation-may-2022",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-05-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 38,
  "pageCount": 64,
  "prevPage": 37,
  "nextPage": 39,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 36,
  "notes": "Uses a dual-table structure to contrast rising compensation against declining EBIT.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-3408-76ba-99db-827091d2379c/38",
  "deckHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c",
  "deckJsonHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c.json",
  "deckAnchorHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c#slide-38",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "list",
      "text": "The CEO was paid more in 2021 than in 2014 despite 2021's EBIT being 16% lower than 2014's figure\nThe top five executives were also paid more in 2021 despite lower EBIT",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b3bfd28a-88c7-4d40-954e-e36652c4c945",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.2,
        "x": 0.05,
        "y": 0.093
      },
      "kind": "other",
      "text": "Source: Company SEC Filings, Bloomberg LP. Macellum Advisors GP, LLC",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a8d84cce-10c6-47d0-81b6-b5dc7f99f5b0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.7,
        "x": 0.15,
        "y": 0.31
      },
      "kind": "table",
      "text": "SpartanNash CEO & Top 5 Executives' Total Compensation, $mms",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d2b8f33-ff94-4c2f-acda-4fe2ab79dd2b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.7,
        "x": 0.15,
        "y": 0.62
      },
      "kind": "table",
      "text": "SpartanNash Financial Performance Over the Same Period",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "caab9cd0-f962-4b69-90df-0df0bb6f3b7f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "ISSUE #4 (CONT.): THE BOARD HAS OVERSEEN MISALIGNED EXECUTIVE COMPENSATION",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e496361f-d0bb-4129-8459-aceeb5358dc3",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "022305fb-4772-4dcb-b42f-f46907a67fe2",
      "evidence": "Contrasts executive pay growth with EBIT decline to expose board failure.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 13,
      "beatId": "f2c3b9ce-5e3a-4714-bf8b-fa14b573ab56",
      "arcName": "Problem-Agitate-Solution",
      "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",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}