Callouts & quotes from 37,061+ activist slides

"We believe ABML is significantly behind the competition in commercial status and technology."

"Prior to our involvement, Box consistently disappointed investors and failed to create value"

"Box built an oversized cash balance as a result of the unnecessary convertible debt offering"

"We believe it is clear that Box was not focused on the best interests of common stockholders"

"Box has chosen to not allow stockholders to vote on the more problematic evergreen provision"

"We have used a conservative 9.5% discount factor to apply to the unleveraged free cash flow."

"Private Practice Urologists Have Very Strong Financial and Other Incentives to Perform MISTs"

"Illustrative 2022 PF EPS under best-in-class management implies ~18% to ~48% earnings upside"

"Legal Representative Before Change: Wu Yonghua; Legal Representative After Change: Wu Zeqing"

"We believe the logo should be the LAST change needed (if at all) to turn around Olive Garden"

"Brinker's situation was very similar to Darden – we see an even larger opportunity at Darden"

"Outsourcing prep in selected areas will reduce costs while improving quality and consistency"

"This vision MUST incorporate the importance of Italian authenticity throughout Olive Garden."

"A real estate separation is a key first step in solidifying Darden's investment grade rating"

"We find it surprising that no one caught and/or corrected the misspelling of the CEO's name."

"The fact that they did it in this very strange format that’s not industry-accepted is weird."

"The proposed transaction can be simplified into two key questions for the Board to consider:"

"It Takes Six Years Longer than EHTH's Stated Member Life to Collect Cash Equaling MA Revenue"

"Please do not be fooled by Huntsman’s many misleading, revisionist, and disingenuous claims!"

"Huntsman's EBITDA margins are ~400bps BELOW the average for 2021 and 2022 performance peers!"

"We believe the logo should be the LAST change needed (if at all) to turn around Olive Garden"

"Brinker’s situation was very similar to Darden – we see an even larger opportunity at Darden"

"Outsourcing prep in selected areas will reduce costs while improving quality and consistency"

"Mr. Blum and Mr. Mock increased annual operating profits by hundreds of millions of dollars."

"This vision MUST incorporate the importance of Italian authenticity throughout Olive Garden."

"A real estate separation is a key first step in solidifying Darden's investment grade rating"

"We have a very good management team here. They have a long history of making good decisions."

"Southwest has the fundamental attributes necessary to restore its industry-leading position."

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"The large oil frackers have spent $80 billion more than they have received from selling oil."

"Under Dr. Klaus Kleinfeld, Alcoa had among the worst shareholder returns of any U.S. company"

"The Firth Rixson failure alone might have been enough for the Board to dismiss Dr. Kleinfeld"

"Pro forma for divestitures, management's new target is for EBITDA/MT to decline by $35 (~9%)"

"The Apple Watch Already Offers Seven of the Eight Sensor Capabilities on iRhythm’s “Roadmap”"

"The stock is trading at such a discount to peers because of management – no one trusts Matt."

"we said, and I have have been loud on this, we are not going to support Scope 3 at this time"

"Spruce Point believes that WSP's Adj. EBITDA margin increase is purely an accounting mirage."

"Based on our analysis, Zebra's cumulative Cash Earnings over the past 5 years is ~19% lower."

"Colluding counterparties are the bedrock of almost all stock fraud committed by PRC issuers."

"WGA has cumulatively closed or relocated +1,300 stores since 2013 (~16% of U.S. Retail base)"

"Retailers on the sidelines are just like those investors who didn't buy stocks in the spring"

"Implied Operating Profit Opportunity: Achieve Peer Margin: $1.5bn; Achieve Top Third: $4.1bn"

"Creates "no place to hide" dynamic as GBU leaders will produce strong results or be replaced"

"However, this benchmarking analysis does not take into account P&G's massive scale advantage"

"Lemonade has not earned the trust necessary to operate a consumer facing insurance business."

"Something looks incredibly wrong with the magnitude of WD-40's recent full credit draw-down."

"There is nothing new here since West Side Story... except... the wild card in the AGO story."

"Given today's drug pricing environment, we believe that CAR-T pricing will remain a headwind"

"Relative Value Yields Make Commercial R.E. a Real Bargain Compared to Other Financial Assets"

"If CP had no CEO, and it could hire any executive to run the company, whom would you choose?"

"We are confident that with a shareholder mandate, the Board will make the right CEO decision"

"CP's longer hauls and bulk / unit train mix should give CP a LOWER unit cost profile than CN"

"Spruce Point interviewed a former sales executive knowledgeable about C3's European business"

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"There have been other product quality concerns raised around mold identified in the product."

"In total Saputo acquired 26 brands from DCI and 14 brands are still offered by Saputo today."

"We believe GCP can improve margins by reallocating resources to more attractive geographies."

"It is completely unjustifiable and abusive for insiders to (yet again) trade in FMCN assets."

"Phillips 66 has destroyed investor value through its poor execution of the Rodeo conversion."

"The Company failed to deliver on financial commitments from three consecutive investor days."