Callouts & quotes from 26,677+ activist slides

"The important thing the interviewer is looking for is that you pair metrics on an apples-to-apples basis."

"SEE ADDITIONAL DISCLAIMERS AND NOTES AT THE END OF THIS PRESENTATION FOR ADDITIONAL IMPORTANT INFORMATION"

"It Is Not A Good Sign When A Company Distributes A Large Portion Of Assets To Insiders Shortly Before IPO"

"Готовы предложить номера Стандарт твин с 2 мя раздельными кроватями (1-для ребенка,2-для сопровождающего)"

"Die Aktionäre sind nicht in einen Turnaround investiert. Sie finanzieren den Ausstieg der Führungskräfte."

"Indeed, during your tenure, Alexion is the worst performer across the broader large-cap biopharma sector."

"Conservatively we estimate DKNG could potentially miss full year '25 consensus revenue estimates by 6.2%."

"WE BELIEVE A 90% FRANCHISED SYSTEM WOULD SIGNIFICANTLY IMPROVE OPERATING METRICS WITH SIMILAR NET INCOME"

"AVY wants investors to see improved ROTC, but ignores pension, operating leases and other forms of debt."

"Will AVY's Board Clawback The CEO's Bonus In 2018 For Paying Him On An Artificially Inflated EPS Figure?"

"In 2014, Platform's share price increased by 69% including the attached warrants associated with the IPO"

"Spruce Point has uncovered more evidence that WTRG's customer reporting is prone to error and inflation."

"Spruce Point believes there are other current and forthcoming headwinds that investors need to consider."

"An optimized workforce location strategy can drive higher margins and increase access to talent globally"

"Ten months after re-affirming its target, Box was forced to withdraw and push out the timeline to FY2022"

"Despite small improvement, Box still significantly lags industry benchmarks for sales force productivity"

"Box has maintained stockholder-unfriendly governance, despite its commitment to "world-class governance""

"These aren't true "targets" so much as they are pie-in-the-sky aspirations under rosy growth assumptions"

"our research suggests that removing reps from the OR may prove difficult, thus perpetuating these costs."

"Crown Castle’s underperformance can be remedied and requires improved performance in its fiber business."

"In other words, TRE would not pay any money because the AI would be “reimbursed” when it sold the chips."

"As you can see in the chart below, Yahoo’s Core Business EBITDA has been decreasing at an alarming rate."

"We believe CCI's dividend yield should compress to a 4.0% yield initially, and then below 4.0% over time"

"At the moment, however, legal action against Muddy Waters does not appear to promise sufficient success."

"We asked a key early financial executive his views on MPWR’s recent success. His opinion was insightful."

"Adjusting for PEO pass-through revenue in gross bookings, sales force productivity is down ~20% vs. 2011"

"Across several different companies in Bolloré’s empire, a common theme is the disregard for independence"

"The list of governance woes continues to grow with allegations and charges across multiple jurisdictions"

"HLT's share price including dividends increased 40% in 2021 and has decreased 2% year-to-date in 2022(1)"

"Investors should take note of management's willingness to use these accounting changes to influence EPS."

"Investors should take note of management's willingness to use these accounting changes to influence EPS."

"Vote AGAINST the Fuji/Xerox Transaction and FOR a Board of Directors that can Maximize Shareholder Value"

"We see this balkanization as giving Eurofins numerous dials to turn to create sham revenue and expenses."

"Highly conservative compared to the ~$31.00 actual rent / sq. ft. in the ARCP/Golden Gate transaction(1)"

"Our goal is to dramatically improve Darden for the benefit of its customers, employees, and shareholders"

"Our goal is to dramatically improve Darden for the benefit of its customers, employees, and shareholders"

"We believe a pattern similar to that laid out in the complaint may now be playing out with Quantumscape."

"Speedway does not capture higher fuel margin than peers from its integration with Marathon’s refineries."

"Frankly, they were looking at ways they could meet their revenue numbers, and this was one way to do it."

"We believe that this 56% increase in effective daily sensor cost contributed to observed revenue growth."

"Did the local residents tell Lightsource BP representatives that this project was enhancing their lives?"

"The Icahn slate is committed to restoring credibility and transparency atop McDonald’s on key ESG issues"

"We believe the market is missing the impending fiscal cliff facing K-12 school districts across America."

"We believe these comments ignore the reality of the situation facing most school districts in 2024-2025."

"Our goal is to dramatically improve Darden for the benefit of its customers, employees, and shareholders"

"Highly conservative compared to the ~$31.00 actual rent / sq. ft. in the ARCP/Golden Gate transaction(1)"

"Our goal is to dramatically improve Darden for the benefit of its customers, employees, and shareholders"

"Despite highest oil weighting of any peer... ...and material position in the Bakken, leading US oil play"

"Hess showed shareholders 6 month performance charts that ignored dividends (7% difference for MUR alone)"

"We believe the stock performance is compelling evidence of the effectiveness of the Board and management"

"We believe the stock performance is compelling evidence of the effectiveness of the Board and management"

"Time is of the essence, and a renewed sense of urgency is required to get more material deals completed."

"80 years of cumulative aerospace experience, operational expertise, proven value creators, change agents"

"Management expects to invest the majority of the company's free cash flow in value-creating acquisitions"

"The below assumptions imply a patent cliff portfolio value in 2020 equal to eight times forward earnings"

"Unique culture which is extremely supportive of returning to our roots as a smaller focused organization"

"Mr. Yen generally did not know the answers to these questions because they are very China-side specific."

"The Board scheduled the Special Meeting more than five months after our requisition. This is not prompt."

"A FY2018 Q3 offline revenue decline of -3.5% once again contravenes the implication of “healthy” growth."

"When adjusting for these items, Sunnova’s cash flow profile appears much worse than the Company reports."