{
  "docId": "019f6b8f-4754-74a5-8284-96ac60575004",
  "docSlug": "jarvis-oasis-stratus-presentation-march-2021",
  "documentTitle": "Oasis Stratus Presentation March 2021",
  "authorId": "oasis-stratus-presentation-march-2021",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-03-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 47,
  "pageCount": 76,
  "prevPage": 46,
  "nextPage": 48,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 18,
  "notes": "Uses a donut chart to show pay mix and dual-axis combo charts to show lack of correlation with Net Income, Adjusted EBITDA, and TSR.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-4754-74a5-8284-96ac60575004/47",
  "deckHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004",
  "deckJsonHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004.json",
  "deckAnchorHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004#slide-47",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "callout",
      "text": "Stratus' claims that the CEO's compensation scheme rewards business performance goals are misleading.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f8caf83c-1ae6-4774-ad46-e07cb5f434d6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.75,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Total Return to Shareholders vs LTI+Bonus",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a862f4a-5654-4de3-8141-251514fe6c92",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.55,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Adjusted EBITDA vs LTI+Bonus",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b41969e2-a30a-4452-8da9-d77bf3bfaf6c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.35,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Net Income vs LTI+Bonus",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c0105e55-812e-4c0f-ad9b-616f1b4d6e01",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.25,
        "x": 0.05,
        "y": 0.35
      },
      "kind": "chart",
      "text": "2017-2019 Allocation of CEO Compensation",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6807584c-d86d-4aed-b7a9-13bc0ec8d5dd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.05,
        "y": 0.7
      },
      "kind": "list",
      "text": "In its proxy, Stratus claims that the majority of Mr. Armstrong's total compensation consists of variable, at risk forms of pay that are dependent on: Performance, The price of Stratus' common stock",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fe8abda1-b0fa-4c18-a962-6e24956a211a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.25,
        "y": 0.95
      },
      "kind": "other",
      "text": "Note: 2019 adds back Block 21. Source: Public filings, Bloomberg",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5c761cac-215c-4db7-a929-a050cea14b37",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.6,
        "x": 0.35,
        "y": 0.8
      },
      "kind": "paragraph",
      "text": "Due to a lack of benchmarks, payout targets, or any pay formulas disclosed in its proxy, one can conclude that Mr. Armstrong's variable pay component ends up being highly subjective as dictated by Stratus' entrenched, tenured directors.",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2deee2a4-0999-40ba-a5ff-d27928b442a9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.7,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Stratus' Executive Compensation is not Aligned with Performance",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "38897724-d084-410c-9eae-ea3b325a2fd1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "a8e03e68-0260-420e-af5a-d43ad67cf9dc",
      "evidence": "Contrasts company claim with performance data",
      "confidence": 0.95
    }
  ],
  "arcBeats": [
    {
      "to": 59,
      "from": 22,
      "beatId": "688f4b05-e7e7-48c6-b731-34703835a390",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Propose Solution",
      "beatSlug": null,
      "evidence": "The deck presents Oasis' plan to improve Stratus' performance and governance",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}