Callouts & quotes from 515+ activist slides

"Wall Street analysts have expressed enthusiasm for the quality of Starboard's director nominees, and seem to believe they will be incredibly valuable in helping the Company improve accountability and execution."

"Darden's directors have overseen an average underperformance of 153% during their tenure on the Board, and the four that are running for reelection performed even worse, with an average underperformance of 186%"

"Landmark illustrates the need for independent directors with experience in distribution to provide proper oversight and protect shareholders from reckless deployment of capital and poorly conceived acquisitions"

"Wall Street analysts have expressed enthusiasm for the quality of Starboard's director nominees, and seem to believe they will be incredibly valuable in helping the Company improve accountability and execution."

"Wall Street analysts have expressed enthusiasm for the quality of Starboard's director nominees, and seem to believe they will be incredibly valuable in helping the Company improve accountability and execution."

"The medical director stated that directors at Blue Cross affiliates around the country are in close touch, and that a domino effect would occur once of them forced usage of regular diazoxide suspension instead."

"The majority of Keisei’s incumbent Board are insiders, led by a tenured President, Toshiya Kobayashi. Within the outside director cohort, both ISS and Glass Lewis have flagged significant independence concerns"

"Three key directors of C3, with otherwise impressive credentials, fail to disclose their corporate director roles at companies that went through accounting scandals and/or were alleged to have committed fraud."

"We believe that Ms. Ogilvie’s substantial business experience and financial background coupled with her extensive experience serving as a director of public companies make her a valuable addition to the Board."

"The latest in Elliott Investment Management’s efforts to help streamline Phillips 66 and enhance shareholder value, featuring conversations with industry experts and Elliott’s exceptional director candidates."

"The latest in Elliott Investment Management's efforts to help streamline Phillips 66 and enhance shareholder value, featuring conversations with industry experts and Elliott's exceptional director candidates."

"The latest in Elliott Investment Management’s efforts to help streamline Phillips 66 and enhance shareholder value, featuring conversations with industry experts and Elliott’s exceptional director candidates."

"The latest in Elliott Investment Management's efforts to help streamline Phillips 66 and enhance shareholder value, featuring conversations with industry experts and Elliott's exceptional director candidates."

"We also find it concerning that Disney's culture seemingly rewards executives and directors for avoiding conflict and punishes those who respectfully challenge the assumptions of leaders – even when justified"

"We also find it concerning that Disney’s culture seemingly rewards executives and directors for avoiding conflict and punishes those who respectfully challenge the assumptions of leaders – even when justified"

"Why is Lester Fernandes, former CFO of Nuvei who departed in 2018, still being listed as a Secretary, Treasurer and Director of GlobalOnePay according to a 2020 Texas Franchise Tax Public Information Report?"

"Election Proposal- to elect, without a stockholders’ meeting, each of the following individuals to serve as a director of Edgewater: Frederick DiSanto, Jeffrey Rutherford, Matthew Carpenter, and Kurtis Wolf"

"XPO’s CEO Brad Jacobs Known Business Associates Include Two Convicted Felons, A Director Whose Firm Was Just Sanctioned By FINRA, And An Audit Committee Director With A Role Promoting A $700M+ Ponzi Scheme"

"XPO's CEO Brad Jacobs Known Business Associates Include Two Convicted Felons, A Director Whose Firm Was Just Sanctioned By FINRA, And An Audit Committee Director With A Role Promoting A $700M+ Ponzi Scheme"

"If any members of the Board had knowledge of these serious issues for longer than what is implied in the Company’s recent disclosures, we believe those directors should immediately resign from the Board."

"Between that line and a few that followed, McLoughlin threw the board under the bus and with that, we don't see how Chairman [Les] Vinney and a few other directors can continue serving as board members."

"We recap below the events and main points which we believe justifies our conviction that the Chairman (Helge Lund) of the Board and the Lead Independent Director (Dame Amanda Blanc) should be removed."

"Allowed CEO Mark Lashier to consolidate Chairman role, add new directors with questionable independence from the CEO and receive generous compensation despite stock underperformance and missed targets"

"Our director candidates are committed to improving corporate governance and instilling a culture of trust and transparency between senior management and shareholders, by taking actions that include:"

"Avery's Proxy Statements are incomplete and inaccurate as it relates to Mr. Barker. He has been a Director at UK Listed Riverstone Energy Ltd. (LSE: RSE) since 2013. Why hasn't this been disclosed?"

"Outside of Michael Maroone, an experienced auto dealer executive with companies including AutoNation, no member of the Board of Directors is both independent and deeply experienced in the industry."

"This is a once-in-a-generation opportunity for us, Norfolk Southern's owners, to put in place the right slate of directors, the right management team and the right strategy - all at the right time."

"Directors now cannot defer compensation and must take it in the current period. This raises our suspicion that insiders are opting to take cash out before financial stress increases in the future."

"Crank Logic's founder Laing states on his LinkedIn biography he was Director of Retail Development. Yet, using the Wayback Machine, we see that his official title was Director of Cloud Technology."

"Earthworx also connects GFL, Mr. Dovigi and Director Dino Chiesa, to Gordon Churchill of Port Perry. Mr Churchill, in addition to Mr. Villa, were both referenced as directors/owners of Earthworx."

"We do not believe an individual that has demonstrated such hostility towards stockholders attempting to exercise their fundamental rights is suitable for serving as our Lead Independent Director."

"The latest in Elliott Investment Management's efforts to help restore Southwest Airlines to its industry-leading position, including conversations with Elliott's exceptional director candidates."

"To prevent further value destruction, Ancora urges shareholders to vote “AGAINST” Board Chair George S. Mayes, Jr., Director Javier Polit and Director Laurie A. Tucker at the 2025 Annual Meeting"

"Why does Mr. Nayar conceal he is being paid by BC Partners on his GFL biography? GFL Directors receive no compensation from the Company, but is Mr. Nayar receiving compensation from BC Partners?"

"Ms. Velando has both C-suite level experience at a global cosmetics company; and held Global Vice President/Managing Director roles at key international competitors of Kao (Coty, L'Oreal etc)."

"Recall: In Nov 2017 the SAIC charged Momo with of "Filing Corporate Information With the Intent To Conceal The Truth And Falsify" and three Directors abruptly resigned for "personal reasons"."

"ISS recommended shareholders vote against three incumbent AOL Board members, including James Stengel, who is Chair of AOL’s Compensation Committee and one of the directors we are challenging."

"If XPO didn't work with Andersen's firm to issue private placements, then it could have business dealings with Terex, where Andersen has long served as a Director according to his biography."

"Senior Independent Director Blanc's lack of engagement reflects a discrepancy with her public rhetoric, which could be interpreted as an abuse of the guardianship privileges afforded to her."

"With lower capital intensity, a focused board of directors, a streamlined portfolio and a credibly reduced exploration budget, we believe Hess International can achieve a premium multiple"

"Inconvenient truths are hidden under Directors and hand-waved away to be fixed later - the result is significant technical debt (in my opinion) in the core products while trying to scale."

"The annual election of directors reflects standard best practice in corporate governance, as evidenced by the fact that it has been adopted by nearly 90% of the companies in the S&P 500."

"Shareholders are deciding whether to elect Nelson Peltz to the existing Board so that, as a Director, he can have full transparency into what is causing P&G’s consistent underperformance"

"BlackRock’s Directors Mr. Gerber (24 year), Mr. Slim (13 year) and Mr. Freda (12 year), lack the presumption of independence and dilute the level of ‘true’ Independent Directors to 62.5%"

"Elliott’s Streamline 66 plan could drive shares to $180 or higher—an increase of 75% or more—but it will take a Board of Directors willing and able to capture this significant potential."

"The annual election of directors reflects standard best practice in corporate governance, as evidenced by the fact that it has been adopted by nearly 90% of the companies in the S&P 500."

"Taubman's problems are self-inflicted – Taubman has repeatedly blamed poor performance on the industry when the problems lie with management and poor oversight by the Board of Directors"

"There needs to be a new board of directors selected to pick the next CEO; this new board needs sufficient experience in the important areas of media, technology, digital, mobile and OTT"

"Should these directors not receive a majority of the votes cast at the Annual Meeting, we believe it would clearly be inappropriate for such directors to continue to serve on the Board."

"Ballard is 76% owned by the public, making it a heavily retail driven stock. Ballard's management and directors own virtually no shares and its current ownership is near all-time lows."

"Shareholders can hold McDonald's accountable and inject much-needed ESG expertise and experience in the boardroom by voting on the GOLD proxy card to elect our two director candidates"

"It seems clear to us that the current Board is laden with significant interconnections among directors that have created an insular boardroom environment that lacks true independence."

"John Tartol, Chairman’s Club member and an Herbalife director, stated in an Herbalife newsletter that Distributors today could make it to the President’s Team in less than three years"

"An oversized board (16 directors vs. 10.8 of S&P 500) characterized by long directorship tenure (10 years vs. 7.8 years of S&P 500) and low female participation (31% vs. 33% S&P 500)"

"An oversized board (16 directors vs. 10.8 of S&P 500) characterized by long directorship tenure (10 years vs. 7.8 years of S&P 500) and low female participation (31% vs. 33% S&P 500)"

"Elliott has assembled a purpose-built slate of independent directors who collectively bring expertise and perspectives urgently needed to address the issues Phillips 66 faces today."

"Elliott has assembled a purpose-built slate of independent directors who collectively bring expertise and perspectives urgently needed to address the issues Phillips 66 faces today."

"Elliott has assembled a purpose-built slate of independent directors who collectively bring expertise and perspectives urgently needed to address the issues Phillips 66 faces today."

"Spruce Point expresses concerns that BOOT's Audit Chair is Brenda I. Morris who also serves as Independent Director and Audit Chair of Xponential Fitness (Nasdaq: XPOF) since 2019."

"Value Proposition: As CIO of Trian, Mr. Garden has worked with management teams and boards of directors at a number of world-class businesses to implement operational improvements."