Callouts & quotes from 10,384+ activist slides

"So I think the -- first, today, we -- 20% of our revenues, we sell direct, we fulfill direct. This tends to be our largest, most advanced customers. although our largest customer is actually not fulfilled through a partner. Then we have about 30% where you can say, co-sell. The partner might identify the opportunity to qualify it, and we come in and we help with the, say, the more technical part of the sale. And then a lot of the fulfill would come from the partner. And then half of the revenues would come from all partners. — Former CEO Gustafsson, Bernstein Conference, June 1, 2022"

"“The original protocols for doctors who treat patients through Hims' platform recommended that the doctors avoid treating individuals with certain health conditions... That was no longer the case under the new protocols.” — Business Insider. “The participants were especially concerned about whether Hims was pressuring doctors to write more prescriptions in a more lenient way.” — Business Insider. “I am not, in any way, critiquing or suggesting the longer duration prescriptions, but about 6 months ago we were around 25% 6 month prescriptions and now we are almost 0,” — HIMS COO Baird."

"“On November 1, 2023, a subsidiary of the Company entered into Corporate Incentive Agreement with Delta Air Lines, Inc. and certain other airlines to provide certain incentives to the Company for booking business travel with such airlines. Dwight James is a Senior Vice President of Delta Airlines, Inc. and member of our Board. Mr. James does not participate in these transactions and does not benefit directly from them. Prior to entering into the agreement, the arrangement was determined by the Audit Committee to be an ordinary course, arms’ length transaction.” — 2023 Proxy Statement"

"One individual report can make a difference. Many drug withdrawals began with one clinical report that initiated further investigation. In the example case in this module, a single report ultimately led to the removal of terfenadine from the market. This report potentially saved many lives and led to a better understanding of the mechanism involved in causing torsades de pointes. Almost all drugs are now evaluated prior to being released on the market for their potential to induce cardiac arrhythmias, also as a result of this single case report. — FDA.gov Adverse Drug Reaction module"

"And due to that migration from the Medicare bucket to the Medicare Advantage bucket, you actually see if you look at the Medicare bucket in a vacuum that it looks like it's shrinking because some of the key codes, the stationary oxygen concentrator Code E1390 actually is going down year-over-year. And it's not because the pool is shrinking, it's because people are migrating over to that other bucket. So, you've got to look at it in totality to really understand the dynamics of the market. — Bloomberg transcript of INGN presentation at JP Morgan Healthcare Conference, January 9, 2019."

"Beginning with the first quarter of fiscal year 2022, the Company revised the foreign exchange rates used to present segment revenues and segment earnings (loss) before income taxes to further allocate the foreign exchange impact to the individual segment revenue and profit metrics. The presentation of segment revenues and earnings (loss) before income taxes for the prior periods provided in this Form 10-K has been changed to conform to the current period presentation. Total consolidated revenues and earnings before income taxes were not impacted — Broadridge Financial Solutions 10-K"

"We are exposed to price risk for commodities used in manufacturing including steel, aluminum, copper, nickel, and semiconductors. Current macroeconomic and geopolitical factors, including commodity-based tariffs and export restrictions on critical materials such as rare earth minerals, may increase the risk of price volatility. We attempt to pass through significant changes in component and raw material costs to our customers based on the contractual terms of our arrangements. In limited situations, we may not be fully compensated for such changes in costs. — Resideo Q3'25 SEC Filing"

""If somebody came in today and had traditional back and leg pain from spinal surgery, you can achieve meaningful and significant results with any of the devices. That’s for sure and that includes even some outdated systems that are still on the market." — High volume Nevro loyalist and KOL in the northeast; "There’s not much of a difference between the devices. They’re all the same. It’s like buying a car." — High volume Nevro implanter on west coast; "All these devices are similar. It just depends on the puts and takes with a patient." — Moderate volume Nevro implanter on east coast"

"So far, I don't have anybody who's actually started it. I have one of my Prader-Willi patients, who I saw just recently, and we've had a discussion about getting on the medication. But the family wanted to read about it, learn about it, think about it a little bit first. And so, some of them are going to be intrigued with any new option, and others are going to be a little more hesitant for something that was just recently approved, don't necessarily feel ready to start a brand new medication or anything along those lines. — Endocrinologist in TX, private practice with 5 PWS patients"

"“It was a huge red flag - I mean, it just didn't make sense that the salespeople were reimbursed on referrals or prescriptions. Quite a lot of these prescriptions were junk. They were just bullshit. I mean, they were for the wrong indication, you know, not even narcolepsy, not even cataplexy. They were like for sleeping disorders—a sleeping disorder is not narcolepsy, okay? So, you had reps getting paid fairly generously for offices providing a referral that didn't even meet the indication, any of the indications, not even close.” — Ex-field reimbursement manager working with Harmony"

"“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, assets, properties, liabilities (actual or contingent) or financial condition of the Borrower and its Restricted Subsidiaries, taken as a whole; (b) a material adverse effect of the ability of the Credit Parties, as a whole, to perform their payment obligations under the Credit Documents; or (c) a material adverse effect upon the rights and remedies available to the Lenders or the Administrative Agent under any Credit Document. — Credit Agreement Amendment 3"

"Land and Buildings believes MGM's high-quality real estate portfolio is substantially undervalued in the public markets. We have been attempting to work collaboratively with MGM management to find an optimal corporate structure for the Company and believe the proposed REIT conversion detailed in the presentation released today will maximize shareholder value while minimizing costs. We are pleased that MGM's CEO and Chairman Jim Murren has said he is open to considering a REIT conversion and has stated that his focus is rightfully on what is best for all shareholders. — Jonathan Litt"

""Invisalign has diluted the orthodontic industry. They took away our exclusivity. The damage is done now.... We just don't trust Invisalign.... It is just a matter of time that I move as much of my case volume as possible away from Invisalign." — Orthodontist, Diamond Plus Align Tier; "I expect my Invisalign volumes to be down going forward. Direct to Consumer offerings are taking business away from us." — Orthodontist, Diamond Plus Align Tier; "If I had to guess 30% to 40% of SDC cases are cases that would have gone to Invisalign if the DTC option was not available." — Dentist, DSO"

"You don't. That's the thing. Unless you're able to crush it and you're not supposed to, so to speak, crush the extended-release medications. That might become — if people see these trials and they get refusals with all the knowledge now that you shared, and I'm sure it's going to come up at some point. Perhaps as clinicians start experiencing some of this, or patients start experiencing some of these issues, people may just say, let's try this other medication, just the regular diazoxide, which is not an ideal drug. Let me put it that way. We know that... — Pediatric endocrinologist"

"“tackled challenging problems regarding losing EUV light transmission through EUV optics” — LinkedIn profile of Sr. Field Service Engineer. “cooperated with Design Engineers in Japan as well as other US Field Service Engineer to resolve complex maintenance issues” — LinkedIn profile of Field Service Engineer. “We needed to work with new orders as well as continue to deal with PMs and troubles with our existing equipment” — LinkedIn profile of Field Service Engineer. “Trouble shooting in both process and equipment problem in photo mask product” — LinkedIn profile of Service Engineer."

""our ability to adapt, evolve, and grow has generated a total return of 9,000% for our shareholders since our IPO in 1999. That is well in excess of the S&P 500 return of 490% and representative of a business model serving all our stakeholders" — CEO Larry Fink, 2024 Letter to investors; "approach to corporate governance can be described as value-focused engagement" — BlackRock Larry Fink, 'Dear CEOs Letter', 2012; "BlackRock engages with companies to drive the sustainable, long-term growth that our clients need to meet their goals" — BlackRock Larry Fink, 'Dear CEOs Letter', 2012."

""This quarter, we reported a positive gross margin of $1.8 million, and we expect to continue to improve our operational synergies..." — Leproust, April 30, 2019 press release. "In addition, we delivered continued improvements in our gross margin, which increased to 16 percent of revenue in the third quarter..." — Jim Thorburn, CFO of Twist, Aug 1, 2019 press release. "We posted a positive 21% gross margin for the fiscal 2019 fourth quarter and 13% for the full year as our revenue scaled and we leveraged our cost structure," — Jim Thorburn, CFO of Twist, Dec 11, 2019 press release."

"“IDT is the oldest and most reliable company in the oligos space. They are really good at oligos. They had tried to go longer and go into genes, and they had the same problem. And they were really an efficient and effective company. We knew them very well and worked very closely with them. I went on a tour of their old facility twice, and it took three hours. We know the founders. It’s a really good company, but they’re never going to be huge because they have a niche market that they’re very good at, and they own it.” — Founding member of Gen9, an almost identical company to Twist"

""The time for warnings has passed. Sinch must address these issues directly. The company needs a monitored, dedicated email channel for fraud reporting and must maintain open communication with consumers regarding the status and outcomes of their reports. Many of Sinch’s competitors already do this, and there is no justification for Sinch’s continued lack of engagement." — Demurrage Report; "Sinch has become the most frequently abused telecom provider for scammer callback numbers, and without substantial reforms, this problem will only worsen in 2026 and beyond." — Demurrage Report"

""Based on his involvement in the transactions, Atkins clearly was aware of the nature of the transactions. Atkins cannot now credibly claim that he was neither aware of, nor participated in, the misappropriation of plaintiffs' property. Under the circumstances, Atkins' conduct directly violated his fiduciary duty as a partner of TSG and TMG to refrain from personally profiting from the misuse of partnership assets. We therefore conclude that the record amply supports the bankruptcy court's factual finding that Atkins wrongfully participated in the transaction." — 11th Circuit Court"

"Based on this assessment, our management has concluded that our internal control over financial reporting was effective as of December 31, 2019. In conducting this assessment, our management excluded Neurio Technology Inc., which was acquired in March 2019, and Pika Energy, Inc., which was acquired in April 2019, and whose financial statements constitute 5.0% and 2.8% of net and total assets, respectively, 0.4% of net sales, and (2.2)% of net income of the consolidated financial statement amounts as of and for the year ended December 31, 2019. — Generac Internal Control Disclosure"

""[M]y first question is just around earnings consistency, Gary. And if I look back over the last 5 years, so I’ll take the last 21 quarters, you’ve beaten consensus about 50% of the time, you’ve missed consensus about 50% of the time. And the S&P large-cap average is closer to 75%. So just wanted your thoughts on what the company can do to get a more consistent pattern of earnings execution." — Neil Mehta, Goldman Sachs, May 8, 2019. "The variability in retail earnings totally dented the case MPC was trying to make for more complex integrated model." — Credit Suisse, May 10, 2019."

"As CFO, she only served for a short time at a private company and she lacks management experience — Kao Corporation. Lack of in-depth understanding and advisory experience with Japanese companies — Kao Corporation. The Board of Directors has not designated Financial expertise as an area to be additionally strengthened at this time, considering the adequate composition of the board of directors proposed by the Company — Kao Corporation. At the document screening stage, it was confirmed that (...) her expertise and career do not align with the needs of the Company — Kao Corporation."

"They’re [Sumitomo Realty] interested in growing and expanding. But they are not efficient when it comes to profitability. — Participant A; Their [Sumitomo Realty] capital allocation policy is less transparent than the other two. They care very much about growth investment and less about the dividend or shareholder returns. — Participant B; They [Sumitomo Realty] have goals for reduction of cross shareholdings but are not proactive compared to other companies. They express the willingness to get rid of the shareholdings but don't seem serious about implementing it. — Participant C"

""The Caspian Capital group sued to stop LBI's plans to restructure its debt in an out-of-court deal with senior lender HPS. That suit was dismissed. It filed another complaint in New York court in August, accusing HPS, LBI and its CEO and President, Lenard Liberman of perpetrating a "deceptive scheme" to "defraud the Plaintiffs of about $115 million," alleging they engaged in financial fraud "designed to erase liabilities from LBI's balance sheet and transfer hundreds of millions of dollars owed to Plaintiffs and other creditors of LBI to funds managed or advised by HP"" — Source"

"“I talked to [KOL name redacted]. One creepy thing – the paper that had been posted got torn down after the first day. Somebody tore it down. And then the talk wasn’t listed in the program, which is weird. The first thing we all thought was that it sounds like Nevro. We all said, yup that sounds like a Nevro deal…[KOL name redacted] called me and said, do you think it’s weird that [name redacted’s] talk was not in the program? So I picked up the program and was like, wow it’s not. It’s weird. As this had to do with Nevro, it doesn’t surprise me.” — KOL and former Nevro consultant"

"“Lastly and before I move to your questions, I would like to mention that a list of questions concerning Casino has been brought to our knowledge yesterday. Most of them are a reiteration of subjects raised in December, to which we already answered. We note that the real concern in yesterday's letter is whether there is a true recovery in our French retail operations. As illustrated by the trading we've just published for Q4, 2015, we are very confident that it has taken place and that our commercial strategies will continue to deliver strong results in 2016.” — Giscard d'Estaing"

"I’m noticing several people experience edema as a potentially serious side effect — Vykat discussion group member. It was gradual for us...like waking up with swollen eyes...then not being able to put his socks on...next thing we know he’s up 16 pounds — Vykat discussion group member. My daughter is on week 4...her legs are so swollen she can’t wear sneakers...we are keeping her legs raised when possible — Vykat discussion group member. My child’s legs, feet and hands were swollen...she couldn’t fit her feet in tennis shoes and had trouble walking — Vykat discussion group member."

"“Yep, I agree 100%...that’s what I would do probably” — PWS nephrologist #11. “it’s the same situation...it’s not hard to figure out” — PWS nephrologist #11. “similar phenomenon, which I do see a lot of where there was a FDA-approved drug which was very expensive...and were able to just use a generic form...which I have done...it’s just as good...obviously, the drug company doesn’t want you to know that.” — PWS nephrologist #11. “the drug works in terms of losing weight...I can say they lost at least 10% of their body weight over the course of six months.” — PWS nephrologist #11."

"I’m noticing several people experience edema as a potentially serious side effect — Vykat discussion group member. It was gradual for us...like waking up with swollen eyes...then not being able to put his socks on...next thing we know he’s up 16 pounds — Vykat discussion group member. My daughter is on week 4...her legs are so swollen she can’t wear sneakers...we are keeping her legs raised when possible — Vykat discussion group member. My child’s legs, feet and hands were swollen...she couldn’t fit her feet in tennis shoes and has trouble walking — Vykat discussion group member."

""The validity of assumptions supporting Pershing Square's market valuation of Target and the separate REIT entity" — Management's Commentary. "The reduction in Target's financial flexibility due to the conveyance of valuable assets to the REIT and the large expense obligation created by the proposed lease payments which are subject to annual increase" — Management's Commentary. "The adverse impact that the company believes the proposed structure would have on Target's debt ratings, borrowing costs and liquidity, exacerbated by current market conditions" — Management's Commentary."

"We continue—we continue to drive both of the levers that create de-leveraging. One is higher EBITDA, on the denominator, and the other is driving higher free cash flow. We talked at Investor Day and reiterated today, activities that are underway, including looking at various assets on our balance sheet that can be monetized and turned into cash, whether that’s the securitization of additional orbitals or other opportunities. So we’re working all of those. And our goal, as Anil said, is very clear: to achieve 3.8 times leverage by the end of 2018 — CEO Lance Q1’18 Conference Call"

"We don't really disclose the organic/inorganic [Growth] . . . if you do a quick math on the two acquisitions that we made in 2017, PointSource and Ratio, roughly 110 people. If you take the average rate for a typical rate for the U.S. [employee] and you [assume] 80% - 82% utilization. . . you're going to get to 400 - 450 basis points of contribution for the full-year 2017. So still, organic growth was very strong in the year. We ended up the year growing 28% and probably 400 bps to 450 bps of that came from the acquisitions of PointSource and Ratio. — Alejandro Scannapieco (CFO)"

"“Yes, absolutely. That's why I left. I'm sure you're speaking to other people, and I'm probably not going to be the first one who said something like this. I mean, especially if others are being honest with you. I don't want to say a specific issue, but I have throughout my career built a high reputation, and I was asked to step in and do something that I wasn't willing to do because it would damage my reputation personally as what I do with the long-term relationships that I've had with colleagues at different companies, and I wasn't going to do that.” — Former Ginkgo executive"

"“In March 2023, it was announced that our alliance with Merck KGaA to co-develop and co-commercialize Bavencio (avelumab) would terminate. Effective June 30, 2023, Merck KGaA took full control of the global commercialization of Bavencio. Beginning in the third quarter of 2023, the related profit share was replaced by a 15% royalty to Pfizer on net sales of Bavencio.” “Additionally, we will no longer record royalties from U.S. sales of Bavencio, as we have irrevocably chosen to donate the right to such royalties to the American Association for Cancer Research.” — 2023 Pfizer 10-K"

"I think your second question was on our final landing for 2015 and versus what could have been a previous assumption around the middle of the year. What is true is that the mild conditions in the fall have been negative for all the textile sales that we have in some of our stores. Our vision is nevertheless that we performed better than specialized retailers in textile. You probably have more data than us on that front and you might have heard that most of the specialized retailers have had a very tough time. But we did a little below our initial expectation. — Giscard d'Estaing"

"“The bioavailability, I mean, the concentration in the brain was less than, around 3 [Inaudible 0:16:23] or less. And sometimes, when you take samples, and even in animals where unfortunately we take their brains and we measure the drug there. We realized that there are some low concentration in some samples and some of the samples, good concentration, and bioavailability in the brain tissue. So, we don't know how the blood-brain barrier is actually interacting with the molecule. The bioavailability was fluctuating in both animals and humans.” — Longtime scientific leader at GSK"

""There were also some reps that, since we were paid only, pretty much only on driving those referrals in, if you had a buddy, a doctor and say, hey listen, submit the form and then just ghost them. Don't even worry about it. Just submit the form and don't even worry about filling out the insurance information. I'll get paid for it and then tell them that the patient changed their mind, or you changed their mind, or you went in another direction, or whatever. I guess that there are some representatives that did that frequently." — Ex-Harmony territory manager for an eastern state"

"“One of the frustrations we had is the replicability of devices. A trapped-ion quantum computer is made up of literally tens of thousands of components, and they’re all assembled by hand basically.” — Former IonQ employee, physicist; “Building a device from design to completion to construction was close to a year... It’s quite a long process to build one of these devices” — Former IonQ employee, physicist; “In usual academia, these machines are built in about a year... the cost is about a million or a million and a half.” — Former IonQ employee, senior member of technical staff"

"So I would tell you there's no traditional Capex planning. When you think of a normal company, it's like, okay, here's how we're going to handle Capex. What's the budget? What's the budget for the whole P&L? I would keep looking for the budget and they'd say, yeah, we don't really talk and speak to the budget because it doesn't really matter that much. The way money is spent is you have to make a pitch to Hilton. You go up on the sixth floor and he takes the little money out of the honey pot and he gives it to you, and then you can go do stuff with it. — Former Monster Employee"

""[There] is no value for refining in PSX at current levels...This has periodically opened debate on whether PSX should be viewed on a Sum Of The Parts basis; but as no part of its assets are public, and with no obvious intent to monetize individual assets and disposal / deleveraging plans..." — Wolfe Research, January 2, 2025; "[The] question we often get is, can you get full credit for the value of a midstream business that should deserve, a much higher multiple embedded in a diversified company that's often perceived to be a refining company?" — Goldman Sachs, January 7, 2025"

""[There] is no value for refining in PSX at current levels...This has periodically opened debate on whether PSX should be viewed on a Sum Of The Parts basis; but as no part of its assets are public, and with no obvious intent to monetize individual assets and disposal / deleveraging plans..." — Wolfe Research, January 2, 2025; "[The] question we often get is, can you get full credit for the value of a midstream business that should deserve, a much higher multiple embedded in a diversified company that's often perceived to be a refining company?" — Goldman Sachs, January 7, 2025"

"“... you know, incentives, I’ve come to learn, drive all human behavior.” — Bill Ackman, August 17, 2017*; “This is like driving a car the wrong way down a one way street... incentive fees are headed toward 10% with the addition of hurdles, not 30. Raising fees at any level of return is unacceptable when you think of the financial condition of our nation’s pension funds. The greed and arrogance in this industry just never ceases to amaze me.” — Jacob Walthour, CEO of Blueprint Capital Advisors, which works with institutional investors to invest in hedge funds, October 28, 2016*"

"Alaskans shouldn't be footing the bill to fatten the bank accounts of foreign mining executives when our community roads need help. — Radio campaign. Opinion: I'm a conservative and I'm for responsible Alaska development. Here's why I'm against the Susitna access road. — Mark Miller. The project faces fierce pushback from Bethel-area tribes and environmental groups, viewing it as an "existential threat" to subsistence lifestyles. — Spruce Point Capital Management. Even subsidies and unproven technology aren't enough to make West Susitna coal power make sense. — Erin McKittrick."

"I looked at that data before they published it, and it was very dirty data. I don't know who runs a study like this where people aren't in-window and there's all these problems. Like, I kept seeing issues and I was like, how did you guys not have more oversight of one single investigator who's cutting corners and just doing stuff that generally is not okay? But, they had to go with the horse they rode in. And so that's what they did. And the Phase 2 trial was also pretty small, and, again, running just a few sites. — KOL in the PWS field; involved with Soleno's clinical program"

""You know, people have said that IonQ is like, buying into Intel in the early days. I think it’s actually closer to Nvidia, you know." — Peter Chapman, Absolute Return Podcast. "Well you know, quantum computing many people expect that quantum computers will be able to solve many of mankind's kind of grand challenges, everything from direct carbon capture, to new drug discovery, new batteries, solving strong AI, improving machine learning. Since we're talking about just a much bigger computer, it's kind of hard to say where it won't be used." — Peter Chapman, YouTube interview."

""As you can see, the combination of Pfizer and Wyeth clearly addresses the revenue decline resulting from the loss of exclusivity of both Lipitor and Effexor." — Frank D'Amelio, SVP & CFO of Pfizer, Wyeth Merger Call, January 2009; "...the Schering portfolio is composed of products that have considerably long market exclusivity in the future; and as you know, Merck faces patent cliffs with respect to certain molecules, including Singulair and 2012, so this is a nice complement..." — Ken Frazier, Global Human Health President at Merck, Barclays Healthcare Conference, March 2009"

""So from the standpoint of pricing, the pricing environment, I would say, hasn't changed much in the last 90 days since we spoke last. And quite honestly, I don't expect that the consolidation that has happened will have much of an impact on the pricing environment." — Cintas CFO Response. "In terms of what we're seeing in the market right now, we're seeing some of that disruption... If you're sitting at the table with a national account... it can lead to challenges and one of those competitors potentially coming in with a very aggressive offer." — CEO Unifirst Steven Sintros."

""The combined portfolio also reflects a revenue mix that is roughly 60% product, 40% service. As you can see, however, there are differences in the proportion of services and product revenues between our distinct businesses. Leidos has a highly efficient proprietary service model that drives an inverse in the revenue -- in the product revenue mix that is 40% product, 60% service. We intend to apply our model to these two new businesses in order to grow a longer tail of service revenue streams for the product lines that we're acquiring." — L3Harris / Leidos Deal Conference Call"

"“Chris Monroe kind of seemed to be embarrassed by the whole thing and kind of went in and out of seemingly paying attention and seemingly leading his team. I heard a lot from his team: ‘Chris is never around. Chris has no time.’ So, Chris just wasn’t all there.” — Former executive of IonQ; “I think Chris is caught in a place where he’s handed over his company to someone who’s completely lying. I think he doesn’t know how to handle it, and I think that’s why he’s staying away. This is my impression. Jungsang thinks he’s the world’s best businessman.” — Former executive of IonQ"

""We are very pleased to recommend the Brookfield-led proposal as the transaction that offers the best opportunity at this time to maximize long-term value for stockholders while ensuring full payment to creditors," said Adam Metz, Chief Executive Officer of GGP. "With the revised proposal, we have now secured commitments for all financing needed to emerge from bankruptcy. The Brookfield-led proposal also allows the Company to continue its process to solicit higher and better offers pursuant to the bid procedures to be approved by the Bankruptcy Court." — Adam Metz, CEO of GGP"

"“As stakeholders in Solvay we demand that the Board of Directors publicly states that the Company commits to bring its Rosignano plant fully in line with the strictest requirements of the UN Sustainable development goals (SDGs), with reference to SDG 14 (“Conserve and sustainably use the oceans, seas and marine resources for sustainable development”) and SDG 14 Target 14.1 (“By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution”)” — UN PRI Collaboration Platform Petition"

"For instance, at The Procter & Gamble Company ("P&G"), a household products company where Mr. Peltz served on the board of directors from 2018 until 2022, he helped P&G develop and oversee a "Four-Year Overhaul" that resulted in P&G "making several dramatic changes to help improve performance" and "streamlin[ing] its operations from 10 business units to six, improv[ing] its earnings growth, clear[ing] out bureaucracy and increas[ing] accountability." — Source: Article titled "Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul," published August 5, 2021 by Bloomberg."

"“I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... And the purpose of the pharma company is to bring breakthrough products that change patients' lives... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years, so it is by 2022 when we put it out in '18. And I think my focus would be to make sure that we deliver more than our fair risk adjustment of this number, and that will be success.” — Albert Bourla, Pfizer Chair and CEO"

"For instance, at The Procter & Gamble Company ("P&G"), a household products company where Mr. Peltz served on the board of directors from 2018 until 2022, he helped P&G develop and oversee a "Four-Year Overhaul" that resulted in P&G "making several dramatic changes to help improve performance" and "streamlin[ing] its operations from 10 business units to six, improv[ing] its earnings growth, clear[ing] out bureaucracy and increas[ing] accountability." — Source: Article titled "Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul," published August 5, 2021 by Bloomberg."

"“I've always known that there was a generic diazoxide agent” and that if did seem to help anyone, that “then I probably going to use the generic in all of those patients... I'm probably going to switch everybody over to the generic anyway...I was willing to give the branded option a try on that first one, see what it's like, and get a little experience with it...but long-term, definitely not...why would you do that?”; “it's not like it's that hard to figure out...the "what do you do" is pretty straightforward...I would just go with generic diazoxide.” — PWS endocrinologist #9"

"“While, in principle, no one is liable to penalties except for their own acts, criminal liability may nevertheless arise from the acts of others in exceptional cases where certain legal obligations impose a duty to take direct action regarding the acts of an agent or subordinate; notably, in industries subject to regulations enacted in the interest of public health or safety, criminal liability essentially extends to the company's executives, to whom the conditions and manner of operation of the enterprise are personally imposed.” — Crim., Feb. 28, 1956, Bull. crim., No. 205."

"In March 2023, it was announced that our alliance with Merck KGaA to co-develop and co-commercialize Bavencio (avelumab) would terminate. Effective June 30, 2023, Merck KGaA took full control of the global commercialization of Bavencio. Beginning in the third quarter of 2023, the related profit share was replaced by a 15% royalty to Pfizer on net sales of Bavencio. Additionally, we will no longer record royalties from U.S. sales of Bavencio, as we have irrevocably chosen to donate the right to such royalties to the American Association for Cancer Research. — 2023 Pfizer 10-K"

"Thank you for reaching out. Technically, the facility that received the SQF certificate and score was their manufacturing experts, Ballard Manufacturing. Ballard Manufacturing in Springville, UT did in fact receive a 100 on their 2015 Surveillance audit. This facility currently has registered for an audit in 2018 under edition 8.0. Therefore, you will be able to find HBH Enterprises dba Ballard Manufacturing in the public search. However, you would not find anything for PetIQ. I hope this helps! — Kathy Chiao, Marketing/Customer Service Assistant, SAFE QUALITY FOOD INSTITUTE"

""Trian is in the business of making good companies a lot better. Their research, analysis, and recommendations are focused on operational and strategic initiatives to build shareholder value over the long term. They ask tough, probing questions, do rigorous fundamental work to understand a company, and develop ideas to help it grow and increase profits. They also are persistent, thoughtful, and creative agents for change." — Dennis Kass, Former Chairman and CEO, Jennison Associates, former Chairman and current Director of Legg Mason, Inc., and current Trian Advisory Partner."