Callouts & quotes from 10,384+ activist slides

"Investors are hesitant to believe PSX will improve refining operations given poor operations since Covid and limited benefits from its 2019 cost improvement program. — TD Cowen, 12/4/23"

""Amidst economic uncertainty in China, we saw a slower start to 2019 as employers show greater caution in their recruitment plans in the new year." — 51job, Inc. Q1 2019 Conference Call"

"“they were replacing them every, give or take, two weeks...being able to work on the system became rather challenging.” — Former field service engineer who worked in the Intel mask shop"

""They're basically claiming they could do everything for everything. I wouldn't believe that if Siemens told me that, with all of their money as well as their research." — Radiologist D"

"It appears obvious that the Board’s true intention with respect to the Preferred Financing was to “buy the vote” ahead of a potential election contest with Starboard. — Starboard Value"

""I've practiced urology for 30+ years. You could fill dumpsters w BPH solution technologies/companies. Nobody will remember this company in 3-5 years." — Urodoc on Seekingalpha, 9/6/24"

"in the net zero pathway, global energy demand in 2050 is around 8% smaller than today, but it serves an economy more than twice as big and a population with 2 billion more people — IEA"

"“Our 32-qubit system, which is an important milestone for our technical roadmap and commercialization, is not yet available for customers and may never be available.” — IonQ Prospectus"

"The red lines in the above diagram illustrate the tissue that is ablated in a PVI procedure. — Source: Verma, A et al Approaches to Catheter Ablation for Persistent Atrial Fibrillation"

"Azure CDN Standard/Premium from Edgio (formerly Verizon) is still an active product offered by Azure and there are no updates of it being retired anytime soon. — Microsoft Q&A Platform"

"“Yeah...it was a word that was used. There was a remarkable amount of skepticism, which is why the response was patience. Let’s see how this plays out.” — IDT ex-regional sales manager"

"“CapEx for the quarter was $22 million, mostly associated with our Factory of the Future investment...We're investing about $40 million in Data Storage.” — James M. Thorburn, Twist CFO"

"“Also, we’re a very successful integrator of accretive acquisitions over the years, all of which have contributed to our growth in revenue and profits.” — 2011 Investor Forum (2/10/11)"

"As intellectually dishonest as Analyst A’s projections appear, those of Analyst B and C seem more egregious, since they predict even higher revenues and commercialized products counts."

"According to the Israeli business supplement The Marker, Malka, the apparent settlor of the well-endowed family trust, lived in a "small, outdated apartment" that measured about 60 m2."

"I have been disappointed by what I see as a breakdown of effective corporate governance at Phillips 66. — Energy veteran Greg Goff, former Andeavor CEO and Phillips 66 investor, 4/9/25"

"“be available to address shareholders’ concerns which have failed to be resolved by the chair, CEO or CFO or for which such contact is inappropriate” — BP Corporate Governance Document"

"I mean, we talked a little bit about bringing online terminals...now, our business model really remains asset light so, while the first couple of these we built, we — Sterling Anderson"

"legacy declines are accelerating due to businesses transitioning to “mobile and cloud-based services at an accelerated rate as post-pandemic workplace restructuring takes hold.” — AT&T"

"Cambium is creating never-seen-before sustainable, ultra-high-performance biomaterials to address the most pressing challenges of the 21st century. — Cambium Biomaterials Press Release"

"The total consideration for NV5 is approximately $1.7 billion, representing approximately 10.3x 2025E consensus adjusted EBITDA. — Acuren Corporation and NV5 Global, Inc. Press Release"

"Has TransMedics ever used private aircraft to transport staff and equipment without the purpose of transporting organs? — Congressman Paul Gosar letter to TransMedics CEO, Feb 21, 2024"

"“it’s probably that well-kept of a secret at this point...all those people have been interviewed....” — CEO of a major OPO (Organ Procurement Organization), longtime industry executive"

"Yeah, it's terrifying...because nobody ever answered that question of if something happens, then what...I definitely would have liked more training. — Former TransMedics OCS specialist"

"“CYP2D6 alleles tested and genotyping methods were appropriate for determining CYP2D6 PM [poor metabolizer] and NM [normal metabolizer] status.” — FDA CDER Clinical Pharmacology Review"

"Bruce Linton, the CEO of Canopy Growth acknowledged in a recent interview on CNBC's Mad Money that the FDA has been clear that food including CBD it is not ready for human consumption."

"Total Energie: https://www.amisdelaterre.org/communique-presse/total-condemned-for-greenwashing-a-major-legal-precedent-against-climate-misinformation-by-oil-majors/ — Amis de la Terre"

"“the plasma becomes unstable and brightness stability becomes worse...brightness may drop below the threshold required for mask inspection.” — 2023 SPIE presentations by Intel/Lasertec"

"“Ultimately, our goal was to make this neutral or accretive to investors and not have an impact from a shareholder standpoint except for a positive one…” — CEO Aaron Levie, April 2021"

"The company supposedly incurred transaction costs in the amount of € 2.5 million. The [dis]proportion to the transaction volume and the amount involved are questionable. — Dr. Weimann"

"In a somewhat surprising tactic, PSX management talked down the potential [sum-of-the-parts] upside (i.e., [stating that the Company is] fairly valued).... — Piper Sandler, March 2025"

"“When I use a word” Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean - neither more nor less.” — Lewis Carroll, Through the Looking Glass (1872)."

"The ability to elect directors is the single most important use of the shareholder franchise, and all directors should be accountable on an annual basis. — ISS Proxy Advisory Services"

"The ability to elect directors is the single most important use of the shareholder franchise, and all directors should be accountable on an annual basis. — ISS Proxy Advisory Services"

"Once again, we expect to maintain our full-price selling philosophy and do not anticipate a material change in promotions or markdowns going forward. — CEO Conroy, Q2'23: Oct 26, 2022"

"The ability to elect directors is the single most important use of the shareholder franchise, and all directors should be accountable on an annual basis. — ISS Proxy Advisory Services"

"“I think they were innovative 5-10 years ago... It's no longer something special. Everyone does PCR. Now, it's NGS.” — Novartis, a large Twist customer, scientist in a leadership role"

"As an effect of acquisition of Pietroni (see Note 3.4), the Group reports two new bank loans of EUR 35.5 million maturing between 2020 and 2030. — CPI PG Annual Management Report 2019"

"“When faced with a patent slope/cliff, our biopharma comps group has historically traded at a multiple range of roughly ~6x-9x going into a patent expiry period.” — UBS, February 2019"

""Reporting revenue in the wrong period gives investors a distorted view of a company's financial condition" — Melissa Hodgman, Associate Director in the SEC's Division of Enforcement."

""...an investment on steroids" — WFG Recruiters. "...13, 14, sometimes 20, 25, 30% interest" — WFG Recruiters. "...there's a guarantee that you won't lose any money" — WFG Recruiters."

"Thank you for sharing your offer to withdraw your proposal (Appendix 1). We are not accepting the terms you have offered and will let your proposal go to a vote at our annual meeting."

"Management touts that, taken together, its new products launched since 2015 have been wildly successful and a powerful driver of core revenue growth — Spruce Point Capital Management."

"“Yes exactly that’s true and that’s exactly what I wanted to say. And so we’d have to work with the technical experts (of the senate) and something could be done.” — Bolivian Lawmaker"

"After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct."

"“Weighted average covered lives increased by more than 200,000 driven by the launch of nine new clients at various points during the quarter.” -- Mark Livingston, CFO, 3Q22 Transcript"

"Such costs are included in Cost of goods sold and amount to $139 million, $105 million and $120 million for the years ended December 31, 2019, 2018 and 2017, respectively. — 2019 10-K"

"'Your company stinks': Resident confronts Norfolk Southern CEO — CNN. 'Evacuate Us!' Fear and Anxiety Boil Over as Residents Confront Train Company on Derailment — The New York Times."

"AOL's existing peer group, which serves as the foundation for benchmarking executive compensation, consists of companies that are too large. — Independent compensation consulting firm"

"AOL's existing peer group, which serves as the foundation for benchmarking executive compensation, consists of companies that are too large — Independent compensation consulting firm."

"“I will be careful with patients that have impaired glucose tolerance because then type 2 diabetes, I think, is quite an issue.” — Trial investigator/author, pediatric endocrinologist"

"Elevated plasma levels (> 150 ng/ml) were observed in 5 patients, in some cases related to the experience of adverse events occurring a few hours after drug intake. — 2007 pilot study"

"capital cost required to restart its two offline de-hydro assets sum to a total greater than the market cap of TPC Group and more than 20% higher than our prior estimation — Macquarie"

""The Board of Directors elected by the shareholders is responsible for the strategic direction and supervision of the company." — Swiss Code of Best Practice for Corporate Governance"

"EDU: I've wrote down your general information. When the teacher in charge of the franchises comes back, I'll let him know. He'll give you a call if necessary. — New Oriental Employee"

"In only 5 out of 22 categories (27%) scored by the audit did WTRG/Peoples receive a mark that it "Meets Expected Performance Levels". — Pennsylvania Public Utility Commission ("PUC")"

"“The company chose not to make changes regarding certain matters raised by shareholders...” and that having Mr. Svider on the Compensation committee is “good practice” — Office Depot"

"“We believe U.S. towers could be the BBE (Best Business Ever) and should command a premium, compared to small cell/fiber systems or international towers.” — Raymond James, March 2020"

"Now everyone has to see for him- or herself: is Ströer tea cloudy or clear today at the end of the day? I hope that you can help a little with your replies. — Shareholder at 2016 AGM"

""With Iain's expertise, we see the opportunity to capture more process-related operating cost savings through redesign and investment in many of our legacy systems." — CFO Q2'18 Call"