Callouts & quotes from 2,037+ activist slides

"We Believe Co-Founder And Board Executive Chair Hasson Has Misrepresented Her Past And The FIGS Origin Story Is Questionable"

"Starboard's average return on a 13D filing is 26.4% (versus an average of 9.7% for the S&P500 during the same time periods)."

"In our view, the Fox acquisition highlights the Board's poor oversight on capital allocation and concerning alignment issues"

"As a first step, we believe there must be Board change at Huntsman, including direct representation for common shareholders."

"In our view, the Fox acquisition highlights the Board's poor oversight on capital allocation and concerning alignment issues"

"The first thing is, adding credible directors to the board to instill a culture of accountability of Phillips 66 management."

"Such a "perverse" outcome may be emblematic of a rushed process and a contract negotiated under duress by the sitting Board"

"As a Board member, Nelson will seek to ensure that management actually delivers on its $12-$13bn “productivity” commitment."

"Stryker's Board at the time of the stealth restatement had controversial people overseeing its finance and audit functions."

"They've got a reputation to repair. — Michael Heim, Elliott nominee for Phillips 66's Board and Co-Founder, Targa Resources"

"We believe that the Board will benefit greatly by having a representative of a significant shareholder serve on the Board."

"We believe that Target’s suboptimal board has contributed to the company’s material underperformance during this recession"

"a single nominee from an outside shareholder in a boardroom of 12 directors is not sufficient to bring about needed change"

"Elliott Urges Shareholders to Support Meaningful Board Change By Voting on the Gold Card for Its Four Independent Nominees"

"We believe that the Board will benefit greatly by having a representative of a significant shareholder serve on the Board."

"Interpretation of pacing data by MedSec medical advisor and board member, Dr. Hemal Nayak. See The Appendix. — Footnote 19"

"Vote the GOLD card FOR Elliott's highly qualified nominees and proposal calling for annual elections for all Board seats."

"Notably, the board assigned its advisors the narrow task of only evaluating Pershing Square’s TIP REIT spin-off structure"

"We look forward to discussing these points with the Board of Directors as well as the other shareholders at the next AGM."

"We strongly believe the Shareholder Slate can reinvigorate the Board and help Sotheby’s achieve its substantial potential"

"Industry Disruption Does Not Absolve Disney’s Board for Poor Performance – It Is the Board’s Job to Look Over the Horizon"

"In our opinion, Aerojet's Board is weak and cannot be relied upon to accurately detect financial and accounting problems."

"Halit Coussin and Charlotte Denton joined the Board of Directors while Rupert Morley became Chairman of the Board in 2024"

"We kindly ask BP’s Board to require Mrs. Daley to step down from BP’s Board (unless she resigns from BlackRock’s Board)."

"We question whether this board has sufficient expertise to advise management on running a retail and credit card company"

"Vote the GOLD card FOR Elliott’s qualified Board nominees and proposal calling for annual elections for all Board seats."

"HUNTSMAN NEEDS STRONG INDEPENDENT BOARD MEMBERS WHO WILL DEMAND IMPROVED PERFORMANCE AND HELP MAXIMIZE STOCKHOLDER VALUE"

"Trian has a track record of adding value in the Boardroom, improving both operating results and share price performance."

"Vote the GOLD card FOR Elliott's qualified Board nominees and proposal calling for annual elections for all Board seats."

"Trian has a track record of adding value in the Boardroom, improving both operating results and share price performance."

"HUNTSMAN NEEDS STRONG INDEPENDENT BOARD MEMBERS WHO WILL DEMAND IMPROVED PERFORMANCE AND HELP MAXIMIZE STOCKHOLDER VALUE"

""The Board's abdication of such an essential duty is indefensible and shameful." — Oplink Communications activist report"

"Kao claim that the skill profiles incumbent on the board are “best suited for the continued oversight of Kao’s strategy”"

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"Simply removing this voting obligation does not suddenly absolve the Board of its mistakes related to this transaction."

"As a first step, we believe there must be Board change at Box, including direct representation for common stockholders."

"NO legacy directors were refreshed between 2018 - 2021; new directors were ALL added by expanding the size of the Board"

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"Since joining the board in December 2015, Telecom Italia has dramatically underperformed its peers and broader indices."

"We are seeking Board and management change to enhance the long-term performance and competitive position of the company"

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"We are confident in our ability to identify high-quality board members who are committed to creating shareholder value."

"NO legacy directors were refreshed between 2018 - 2021; new directors were ALL added by expanding the size of the Board"

"Staggered boards are not in the interest of shareholders because they limit accountability and can enable entrenchment."

"These three interrelated directors hold ALL Board leadership positions, including Chairman and chair of all committees."

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"The Board must provide shareholders additional information regarding the process and value of concessions made to CPKC."

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"We look forward to welcoming the nominees as new Board members and believe they will be valuable contributors — DSP CEO"

"Within 48 hours of Pershing’s presentation, board rejects the Revised Transaction without seeking rating agency review"

"In our view, the Nominees for Shareholder Choice will bring much needed “new life” to Target’s insular incumbent board"

"Fundamentally, the Company’s culture needs a reset – and this requires an overhaul of the Board, beginning at the top."

"We propose the addition of at least three truly independent directors to the boards of Samsung Holdco and Samsung Opco"

"In the beginning, HBOP ordered a corrugating medium paper machine, but now, it's ordering a kraft board paper machine."

"The Board would be paying the CEO half a billion dollars on the way out the door after he destroyed shareholder value."

"Another year of empty rhetoric and broken promises is unacceptable. — Elliott's letter to Phillips 66's Board, 2/11/25"

"Another year of empty rhetoric and broken promises is unacceptable. — Elliott’s letter to Phillips 66’s Board, 2/11/25"

"Another year of empty rhetoric and broken promises is unacceptable. — Elliott’s letter to Phillips 66’s Board, 2/11/25"

"Another year of empty rhetoric and broken promises is unacceptable. — Elliott's letter to Phillips 66's Board, 2/11/25"

"It is unfortunate Darden's current Board has chosen a scorched earth strategy for protecting their selfish interests."