Callouts & quotes from 1,420+ activist slides

"We believe the Board has structured management compensation in a manner that diminishes accountability."

"Will reduce her board commitments to ensure that, if elected, she will not be on more than four boards."

"Box needs a strong, independent Board to ensure that stockholder interests are of paramount importance"

"In our view, the board nomination process is insular, conflicted, and unreceptive to shareholder input"

"DND’s Q2 Results Were Positively Impacted by Macro Factors, Not the Quality of the Board or Management"

"Elliott has nominated eight independent, highly qualified directors to Southwest's Board of Directors."

"We question how the Board repeatedly determined Dr. Beckerle’s independence despite glaring conflicts."

"Rather than considering Goff's ideas, Phillips 66's (NYSE: PSX) Board reacts with baseless complaints."

"Engine recommends the Board immediately implement a $750 million accelerated share repurchase program."

"The current Board has overseen an extended period of underperformance and real change is necessary now"

"Starboard’s settlement with Box resulted in long-overdue changes, with continued room for improvement"

"The Board has significant interlocks that have created an insular environment that lacks independence"

"The McDonald's Board has failed to prioritize ESG and ensure the Company meets its stated commitments"

"The McDonald's Board has failed to prioritize ESG and ensure the Company meets its stated commitments"

"If the Board is not happy with management and the Company’s performance, why should stockholders be?"

"If the Board is not happy with management and the Company’s performance, why should stockholders be?"

"Our nominees would help the Board explore paths for McDonald's to reduce its environmental footprint"

"Engine believes change at the Board level is warranted given the exceptional stock underperformance."

"CP’s Board would not even interview Hunter Harrison… …We now have the opportunity to do so ourselves"

"CFO Appears To Have Misrepresented His Qualifications, While A Weak Board Instills Little Confidence"

"Unfortunately, the Company has been reluctant to include these directors in major Board discussions."

"Board size and inside vs. outside director balance consistent with peers and TPX companies' average"

"Future capital allocation decisions by the Board and CEO determine returns for current Shareholders"

"Starboard helped turnaround GCP after the prior board destroyed significant value for shareholders."

"An Independent Board Could Deliver Actions Which May Double the Stock Price over the Next Two Years"

"There are no legitimate grounds to challenge a non-binding board policy asking directors to resign."

"We believe the Board has failed to address two of the most troubling legacy directors on the Board."

"In this presentation, Starboard uses Proxy Peers to benchmark the Company's executive compensation."

"That is why we think it is imperative that four new, independent directors are added to the Board."

"Culture of Coziness Undermines Credibility of Board to Select Nominees; External Nominees Required"

"Until our engagement, the Board embraced industry-worst corporate governance practices, including:"

"A board focused on shareholder returns would not allow undervaluation of this magnitude to persist"

"...but the Board has not shared in this pain as directors only own around 60k shares of OUTR stock"

"A Board riddled with conflicts failed to hold management accountable for years of missed promises."

"We believe both the Board’s and management’s ESG oversight have proven inadequate and ineffective."

"If former Chairman and CEO does not believe in this Board and management, why should shareholders?"

"Marcato Believes Board Change Would Drive Management Accountability and Maximize Shareholder Value"

"the risk of high blood concentration and potential complications “are downplayed across the board”"

"Starboard reconstituted a majority of the Board with directors who guided a successful turnaround"

"GLASS LEWIS RECOMMENDS SHAREHOLDERS SUPPORT ELLIOTT'S CASE FOR URGENT BOARD CHANGE AT PHILLIPS 66"

"GCP shareholders deserve a Board that will demand accountability and excellence from the Company."

"We believe a glaring lack of focus, alignment, and accountability pervades Disney's board culture"

"We believe a glaring lack of focus, alignment, and accountability pervades Disney's board culture"

"With these results, Phillips 66's Board should be actively looking to change from the status quo."

"With these results, Phillips 66's Board should be actively looking to change from the status quo."

"The goal of a Special Meeting will be to replace members of the Board, including CEO Tom Schmitt."

"Our Board nominees would hold SBM to a higher standard and demand better oversight and execution."

"XPO's Board lacks experienced operating executives in the transportation and logistics industry."

"Under the incumbent Board, McDonald's is a laggard – not a leader – on ESG compared to its peers"

"Despite new directors added from 2019 to 2021, the Board’s troubling behavior remains unchanged."

"The Board has failed to install executive compensation practices that properly align incentives"

"Disney’s Board Appears Far More Focused on Gamesmanship Than Substantive Shareholder Engagement"

"The Board has failed to hold management accountable for the Company's promises to shareholders."

"We believe the Board’s compensation practices must be changed in order to drive accountability."

"Rather than considering Goff's ideas, Phillips 66's Board has responded with a personal attack."

"Re-cast Yahoo management and the board to have a clear focus on properly operating the business"

"Elect a blue-chip Board – to serve for the benefit of ALL shareholders, not for ONE shareholder"

"Elect a blue-chip Board – to serve for the benefit of ALL shareholders, not for ONE shareholder"

"The Board has failed to install executive compensation practices that properly align incentives"

"In our opinion, Ströer's board of supervisors is oddly devoid of truly independent supervisors."