Matching slides 110,355
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The slide uses a 'before-after' framing to highlight the impact of Elliott's engagement on investor interest.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor 1 hit
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Uses a series of five identical text blocks from proxy statements to show the Board's repetitive, non-responsive stance over nearly a decade.Phillips 66 (PSX) · 02_Elliott_Management
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66
Uses two pull-quotes from academic experts to frame the board's actions as a distraction tactic.Phillips 66 (PSX) · 02_Elliott_Management
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67
Uses a combination of bar charts and a callout quote to highlight the misalignment between performance and pay.Phillips 66 (PSX) · 02_Elliott_Management
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Includes a testimonial quote from the nominee regarding his past experience with corporate spin-offs.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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The slide uses stacked bar charts to demonstrate that PSX's midstream portfolio is high-quality and comparable to pure-play midstream peers.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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Includes a quote from the nominee regarding midstream asset strategy.Phillips 66 (PSX) · 02_Elliott_Management
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The chart highlights a valuation gap between PSX and its peers/precedent transactions.Phillips 66 (PSX) · 02_Elliott_Management
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Includes a testimonial/quote from shareholder nominee Michael Heim.Phillips 66 (PSX) · 02_Elliott_Management
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The slide uses a bar chart to support the thesis that PSX has a superior crude slate compared to its competitors.Phillips 66 (PSX) · 02_Elliott_Management
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84
Includes specific asset-level performance commentary and comparative margin charts.Phillips 66 (PSX) · 02_Elliott_Management
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85
Includes a bar chart of PRISM Five-Year Average Net Cash Margin and a line chart of MidCon PRISM NCM.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
86
Includes a bar chart comparing 5-year average net cash margins and a line chart showing annual performance trends by company.Phillips 66 (PSX) · 02_Elliott_Management
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The slide uses a bar chart to show net cash margins and a line chart to show historical performance trends between PSX and VLO.Phillips 66 (PSX) · 02_Elliott_Management
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98
The slide highlights the use of a median calculation that relies on the performance of the four 'inappropriate' peers.Phillips 66 (PSX) · 02_Elliott_Management
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99
The table contrasts 'Company's Flawed Methodology' with 'Correct Methodology' across various timeframes.Phillips 66 (PSX) · 02_Elliott_Management
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The slide uses a clear visual contrast (red vs white bars) to distinguish the target company's peer group from the larger, more relevant peers.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor 1 hit
102
Uses CEO quotes to establish the 'claim' and a bar chart to establish the 'reality'.Phillips 66 (PSX) · 02_Elliott_Management
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103
Uses a CEO quote as the 'Claim' and a bar chart as the 'Reality' to expose a contradiction.Phillips 66 (PSX) · 02_Elliott_Management
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104
The slide uses a dual-axis chart to overlay commodity prices on company opex to demonstrate that management is taking credit for market-driven cost reductions.Phillips 66 (PSX) · 02_Elliott_Management
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107
Uses a 'Claim vs Reality' framing to directly refute a management assertion.Phillips 66 (PSX) · 02_Elliott_Management
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108
Uses a contrast-pair framework to dismantle the company's argument.Phillips 66 (PSX) · 02_Elliott_Management
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109
Uses a 'Claim vs Reality' framing to directly refute a company statement.Phillips 66 (PSX) · 02_Elliott_Management
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111
Uses a waterfall-bridge style chart to normalize cost comparisons between two companies.Phillips 66 (PSX) · 02_Elliott_Management
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112
Uses a dual-chart layout to contrast throughput scale with TEV/EBITDA multiples.Phillips 66 (PSX) · 02_Elliott_Management
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113
Uses a 'Claim vs Reality' framing to directly refute a management narrative.Phillips 66 (PSX) · 02_Elliott_Management
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117
Uses a red/blue contrast to frame the company's claims as false and the reality as favorable.Phillips 66 (PSX) · 02_Elliott_Management
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120
Uses a 'Claim vs Reality' framing to discredit board nominees.Phillips 66 (PSX) · 02_Elliott_Management
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123
The table highlights underperformance of Phillips 66 relative to core and midstream peers across most time periods.Phillips 66 (PSX) · 02_Elliott_Management
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The slide uses a series of pull-quotes to build a narrative of leadership failure.Phillips 66 (PSX) · 02_Elliott_Management
Activist deck Activist investor 1 hit