Callouts & quotes from 2,037+ activist slides

"It’s time for board changes at PSX so your investment can earn what it should."

"Responsibility for current predicament lies squarely with the incumbent Board"

"The urgency of management and Board change at Southwest could not be clearer."

"The McDonald's Board has failed to assume accountability for its ESG failures"

"A Board's job is to look over the horizon instead of reacting after the fact."

"The current management team and Board have a long tenure of underperformance."

"The Board and management should be held accountable for their lack of urgency"

"A Board's job is to look over the horizon instead of reacting after the fact."

"“WE QUESTION HER CONTINUED SERVICE ON ANY PUBLIC COMPANY BOARD” — Glass Lewis"

"Dear Board, our perspective on why we agree with Engine Capital... — Barclays"

"Office Depot has outperformed the market by 94% since Starboard’s 13D filing"

"Office Depot has outperformed the market by 94% since Starboard’s 13D filing"

"Half of P&G’s existing Directors were on the Board for all 3 CEO transitions"

"Sitting Board is insular and lacks a credible path to continuous improvement"

"The "Rights Plan": Giving the Board All of the Power & None of the Liability"

"Starboard believed the Preferred Financing was a mistake from the beginning"

"Glass Lewis consistently highlighted issues related to the CFO's Board role"

"Tessera has outperformed the market by 39% since Starboard joined the board"

"Tessera has outperformed the market by 39% since Starboard joined the board"

"Starboard entirely reconstituted Darden’s Board with experienced directors."

"The management team and Board of Yahoo have repeatedly failed shareholders."

"The Board and CEO Matt Proud Have Failed in Their Primary Responsibilities"

"BlackRock Board suffers from at least three different kind of shortcomings"

"Agrium's poorly executed buyback illustrates key deficiencies on its board"

"BlackRock Board suffers from at least three different kind of shortcomings"

"How independent and objective can Dan Quayle really be as a Board member?"

"We believe the Arconic Board size of 13 should be reduced to 11 directors"

"Elliott sees a clear need for change, while Phillips 66's Board does not."

"Trian's Nominees Will Bring Fresh Perspectives and Alignment to the Board"

"Elliott sees a clear need for change, while Phillips 66's Board does not."

"Elliott sees a clear need for change, while Phillips 66's Board does not."

"Trian's Nominees Will Bring Fresh Perspectives and Alignment to the Board"

"Note that Arconic purchased every single billboard in the above rail car"

"Prior to Starboard’s involvement in Darden, Bloomin’ traded above Darden"

"The Board Is Going Through The Motions Vs Holding Management Accountable"

"The Board Is Going Through The Motions Vs Holding Management Accountable"

"Hess has never refreshed its Board despite desperate need for new ideas"

"Management and the Board destroyed ~$0.23 / share of shareholder value"

"The reconstituted Board helped NortonLifeLock reach its full potential"

"Has the Board ensured that the fiber business has the right skillsets?"

"THIS IS A CRITICAL TIME FOR NEWELL AND WE NEED THE BEST BOARD POSSIBLE"

"Noticeable lack of core competency and skills as reviewed by the Board"

"PSX's entrenched Board attacks Goff before even considering his ideas."

"Glencore consistently lags in value creation — Teck Board of Directors"

"Dec 2016: Board Chair and largest owner enters into 10b5-1 Stock Sale"

"Current Board and Management Team’s Track Record of Value Destruction"

"The Board needs to replace Lance Fritz with best-in-class leadership"

"Why did the Board allow management to lower the bar so dramatically?"

"78% of all S&P 500 boards have an average tenure of 10 years or less"

"Why did the Board allow management to lower the bar so dramatically?"

"Our board would run a process to maximize value for ALL SHAREHOLDERS"

"Given Company performance, the Board must review senior management."

"Shareholders deserve a Board that demonstrates proactive leadership"

"The Board continues to act only as a result of shareholder pressure"

"Elliott urges you to vote for our highly qualified board nominees."

"BlackRock Board of Directors' misconstrued statement in opposition"

"We believe P&G’s current Board has not delivered for shareholders."

"BlackRock Board of Directors' misconstrued statement in opposition"

"Result: Placed Approximately 142 Corporate Directors on 45 Boards"

"Starboard believes AAP could be worth in excess of $350 per share"