Phillips 66 PSX
Phillips 66 keeps its staggered board despite 99% of voting shareholders wanting it gone — an entrenchment structure used by only 10% of S&P 500 firms.
The three reasons
- 1
99% of Phillips 66 voting shareholders prefer abandoning the staggered board
- 2
Only 10% of S&P 500 companies still use staggered boards
- 3
Staggered structure entrenches the board against shareholder accountability
Primary demands
- Eliminate Phillips 66's staggered board structure
KPIs cited
Pattern membership
Composition what's on the 2 slides
Slide gallery ·
Notes
DFAN14A exhibit (Elliott's Phillips 66 proxy fight). Content is a single screenshotted social media post from @streamline66 (Elliott's campaign-branded Twitter/X account) promoting a Streamline 66 Podcast episode with Elliott partner Geoff Sorbello discussing Phillips 66's staggered board. Not a standalone thesis document — pure governance-campaign amplification filed as SEC proxy material. Page 1 is a title separator reading 'SOCIAL MEDIA POST'.