Callouts & quotes from 10,384+ activist slides

""the hair thing is really difficult and same with the edema...you'll never be able to blind that properly"; "the smell was mentioned by one of them...patients in our group are on social media and the family forums and stuff." "there certainly was potential for unblinding...no question." — Trial investigators"

"“to be frank, my feeling was I don't think anyone improved”; “so, I have been very skeptical about it”; “we knew he was on DCCR – and he put on a lot of weight...so clearly, this was not effective”; “then another person on the trial, she was putting on weight” — Trial investigator, key opinion leader for PWS"

"Harmony 1 trial paper, published 2013 in The Lancet – pitolisant was inferior to modafinil on the primary endpoint of excessive daytime sleepiness as measured by Epworth Sleepiness Scale; final ESS score in pitolisant arm still indicates excessive sleepiness; also inferior on cataplexy reduction — The Lancet"

"“Yeah, it was definitely slowing down. The way you could gauge that would be the pressure that was applied from above, the flattening out of the trend...definitely, there was a flattening, which would be expected, but the company and the powers that be did not want to hear it.” — Ex-Harmony territory manager"

"The authors showed that embedding problems into the sparse topology of D-Wave’s quantum annealers incurs a “quadratic space overhead,” (meaning the size of hardware needs grows much faster than the size of the problem) leading to a significant increase in the time to solution. — A study by Könz et al. (2021)"

"Caliber of support, vision of the team at the top, consistent superlative care, year over year . . . VFC is superlative and always has been. Much better compounding platform. We were compounding in-house and loved the fact we would be able to outsource it to a company that does it well. — Survey Participant"

"Our strategy is a transformational change into a midstream logistics company... — Greg Garland, Phillips 66 CEO; I think Midstream will certainly continue to be a growth vehicle for us... I think Refining is a good business. It's just -- long term, I just don't see it growing — Greg Garland, Phillips 66 CEO"

"In our opinion, the currently existing policies evidently reflect the fact that public schools and private schools enjoy the same unified standard of tax policy treatment. This fact shows the spirit of the “Non-State Run Education Promotion Law of People’s Republic of China”. — Ministry of Finance (implied)"

"“Yes, absolutely. They make every decision [...] You’re just a pawn. If you’re a scientist, you just do what you’re instructed to do, and there’s no pushback or flexibility or innovation [...] The fact of the matter is nobody is empowered to make a decision except for Peter and Jungsang.” — Former executive"

""In order for [refranchising to 90%] to create value requires...selling nearly 500 stores at multiples higher than we believe are achievable...[and] trading multiple expansion to levels significantly higher than demonstrated on a sustained basis by casual diners" — Alex Ware, Chief Financial Officer, 2/7/17"

"“They can take all those fees and save them and put this man on the Board who’s done more homework than anyone else – and he’ll give you this homework for free! Memo to Procter & Gamble: Peltz is cheaper than all of those advisors and knows the space.” — Jim Cramer, CNBC ‘Squawk on the Street’, 27 July 2017"

""This year, the Committee for Examination of Nominees for Directors and Audit & Supervisory Board Members spent more than six months discussing the matter before reaching a final decision, and the decision was made before Oasis Management proposed any director candidates." — Kao statement, December 12, 2024"

""Smart devices and implants will play a big role in orthopaedics and we are excited for OrthoSensor to join Stryker as we continue to innovate and advance smart sensor technologies, including intraoperative sensors, wearables and smart implants across our joint replacement business." — Stryker (Jan 5, 2021)"

""The number of large media buyers and sellers in the market is finite, and it could be difficult for us to replace the losses from any buyers or sellers whose relationships with us diminish or terminate. Because of these factors, we seek to expand and diversify our client relationships." — Rubicon 2017-2019"

"“Absolutely. Literally, I had to laugh because I had documents in my possession where if you took the logo off, it was the exact same verbiage, the exact same formatting on a page – it was kind of scary.” — Former ADESA Director and Operations Manager at CarMax, 20+ years auto industry operations experience"

"A tank storing frozen human embryos and eggs at Pacific Fertility Center in San Francisco had failed...On Thursday, after more than three years of litigation in federal court, a jury in California awarded five of the patients who lost embryos and eggs a combined $15 million in damages. — The Washington Post"

"Like driving cross country in first gear, pushing a glider with mosquito wings, and sending a carrier pigeon versus email. — Propulsion experts. You can't get anywhere fast with electric propulsion...using [electric propulsion] as part of rideshare? People talk about it, but no one uses it. — Launch broker."

""I ran into that the minute I started here where as a fiduciary of Joyn, I said, 'Okay, I want to do this as cost-effectively as possible,' and when I saw how much Ginkgo was charging, I went out and found another vendor who charges about 40% of what Ginkgo wants to charge us." — Senior employee at Joyn Bio"

"We did not pull forward any sales at all.... I think that is just the nature of the acceleration of adoption of the product is really with what we are seeing, there is no pulling forward of shipments to do anything, other than react to the demand — GMCR Management, GMCR Q2 2011 earnings call on May 3, 2011."

"Sometimes things end up with public companies and public real estate investment funds, and they don't necessarily invest the capital to keep them refreshed. The sidewalks get broken, buildings' color changes. You have to go out there and invest the money to do the upkeep. — Karahan (quoted in Local Profile)"

"When it was acquired, Cedar delisted its publicly traded common stock and paid Cedar common stockholders for their shares. Yet Cedar's preferred stock remained outstanding, and its holders received nothing from the transactions. Meanwhile, the value of those preferred shares tanked. — 4th Circuit of appeals"

"Each of these developments is unfortunate and places management’s full-year guidance at risk, in our view. The risk to earnings has obvious flow through implications to the company’s cash flow, which adds to concern given the company’s already challenged liquidity and balance sheet profile. — Goldman Sachs"

"“As a researcher, I can tell you that currently, the state of the technology is very, very infant. If I want to draw some parallel for you, essentially, the state of the technology looks the same way that normal computers looked 50 years ago.” — Physicist at Google working on their quantum computing effort"

"“America has rolled by like an army of steamrollers. It’s been erased like a blackboard, rebuilt, and erased again. But baseball has marked the time. This field, this game, is a part of our past, Ray. It reminds us of all that once was good, and that could be again.” — Terrence Mann, “Field of Dreams” 1989"

"In September 2024, DND threatened to sue shareholders who collectively represent nearly 40% of the Company’s shares based on completely frivolous claims; the Board accused those shareholders to be in breach of U.K. and Australian national security regulations, which are entirely irrelevant — Engine Capital"

"In terms of her role, [redacted] was instructed directly by the CEO, Emily, that [redacted] should not disclose the operational business positions or details to her directly. She wants to be the only channel to talk to her on the business side.” — Ex-Twist employee involved with Twist’s activities in China"

"“The committee currently anticipates that economic conditions – including low rates of resource utilization and a subdued outlook for inflation over the medium run – are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013” — Federal Reserve statement, August 2011"

"“DuPont’s inability to deliver on Kullman’s agenda suggests that she needs more help to overcome the 100+ years of history and the inertia that comes with that; Trian can be Kullman’s best ally. For shareowners, Trian’s impact is already very clear.” — CLSA “4Q14: Just the outlook” analyst report on DuPont"

"“DuPont’s inability to deliver on Kullman’s agenda suggests that she needs more help to overcome the 100+ years of history and the inertia that comes with that; Trian can be Kullman’s best ally. For shareowners, Trian’s impact is already very clear.” — CLSA “4Q14: Just the outlook” analyst report on DuPont"

"I’m telling you, that’s where the problem started two years ago and they said that we cannot ship...they are not shipping because it’s a liability...I definitely understand why because they are not shipping...because they have problems with the source...the customers are delaying orders. — Ex-KLA executive"

"A provision in an indenture with such an eviscerating effect on the stockholder franchise would raise grave concerns. In the first instance, those concerns would relate to the exercise of the board's fiduciary duties in agreeing to such a provision. — Delaware court in Amylin Pharmaceuticals (May 12, 2009)"

"‘there is no evidence that this add-on is effective and safe’ and that there is a ‘risk of misdiagnosing a healthy embryo’ as abnormal. HFEA also claims that PGT-A ‘can sometimes cause damage to the embryo and prevent it from developing once it has been transferred into the womb’ — HFEA., 2018, HFEA, 2020."

""In summary – we want you to elect a major shareholder to the board, in this case it would be me representing Pershing Square. We own 8.3% of the company… this has the effect of sending a very powerful message to the management and the board…" — Bill Ackman, "The Time is Now" Presentation, August 17, 2017*"

""Its really telephone collections" — Current Employee - Accounts Receivable Specialist in Raleigh, NC. "But nothing is worth the things Cintas will put you through. A sick monopoly game they are playing and they don't care who get screwed in the end." — AR representative for fire protection (Pittston, PA)."

"I just wanted to say, it’s not a cure...it’s an aide...this is just a tool that helps your loved one turn down the food noise......the drug isn’t going to help if you don’t work and keep your kid off sweeteners, sugars, sodas...in fact when we started months in I was doubting. — Parent on Vykat for 6 years"

""Subscription ARPU which excludes our transaction-based revenue stream increased by over 10% as more and more customers adopt functionality beyond the basic POS. And ARPU increase as a result of Payments grew significantly given the success we have had with driving Payments revenue." — CFO Nussey, May 2021"

"When patients become aware of the option of PAE vs AQUA, they choose PAE >80% of the time...many large urology groups are just now opening their own PAE suites and will preferably steer BPH patients to their ASC PAE suites rather than sending them to the hospital for Aqua. — Urodoc on Seekingalpha, 9/23/24"

"“the current situation is a stalemate” — Misawa (CFO). “we do not necessarily have an accurate grasp of the situation” — Misawa (CFO). “we believe that this will increase” — Misawa (CFO). “I think we will see...or rather, an increase in inventories” — Misawa (CFO). “minimum level forecast.” — Misawa (CFO)."

"“the current situation is a stalemate” — Misawa (CFO). “we do not necessarily have an accurate grasp of the situation” — Misawa (CFO). “we believe that this will increase” — Misawa (CFO). “I think we will see...or rather, an increase in inventories” — Misawa (CFO). “minimum level forecast.” — Misawa (CFO)."

"In a recently published report titled, Iceberg Research notes that "Recent events have taken a dramatic turn at German eVTOL company Lilium (LILM), with management warning the company faces near-term insolvency... the real reason why Lilium is in this predicament is that it is a fraud." — Iceberg Research"

""Stack it high and watch it fly" — Canadian Tire Dealer. "We had strong revenue performance in the quarter and while we were left with some excess inventory versus last year, the vast majority of that has been shipped to dealers in Q3." — Allan Angus MacDonald, EVP of Retail, Q2 2019 Call, August 8, 2019."

""This man (Sali Berisha) has decided at the end of his term with these five concessions that we have to pay for the next 15 years. They are money that does not go to the state budget but in the pockets of the concessionaires, Sali Berisha and the ministers who signed these contracts, "he declared. — Brace"

"For the top four maize-exporting countries, which ac- count for 87% of global maize exports, the probability that they have simultaneous production losses greater than 10% in any given year is presently virtually zero, but it increases to 7% under 2 °C warming and 86% under 4 °C warming — Tigchelaar et al"

""We do not currently have a large patent portfolio, which could prevent us from deterring patent infringement claims through our own patent portfolio, and our competitors and others may now and in the future have significantly larger and more mature patent portfolios than we have." — PowerSchool FY23 10-K"

"Mr. Wu Yonghua, aged 41, is the Executive Director and the Executive Vice President of the Company. He is primarily responsible for the Group's sales and marketing management. He joined the Group in October 2003 and has over 10 years of experience in sales and marketing in China. — ANTA 2012 Annual Report"

""While the revenue came in the quarter was strong, the overall performance of the sales organization and specifically new sales activity in the second quarter was unacceptable. The management team and I have spent the past month restructuring the global sales function" — CEO Siebel (2Q'22 Conference Call)"

""Some of the costs of these promotions with celebrities are massive. And you know, any investor looking at would probably say, hey, we're not seeing the return here. And I think it's pretty justified to say that. I mean, the costs are pretty outrageous." — Spruce Point Interview With Former HIMS Executive"

""Before we even pegged the ground two years ago, me and my co-founder had the materials tested at pH4 and pH1 ... to establish whether there were any rare earths coming into solution ... We didn't want to waste any of our own money. That was a very cheap, very quick test to do." — Rick Pobjoy, AR3 Founder"

"“This is consistent with other previously documented evidence that these legacy fraud verification vendors failed to detect even the most basic forms of invalid traffic ("IVT")- e.g. a mismatch between the domain declared in the bid request and the domain on which the ad actually ran.” — Dr. Augustine Fou"

"The executive at PACCAR was certain that just from the standpoint of the actual truck – excluding any of the hardware and sensors directly related to the autonomous functionality – the autonomous-enabled trucks would be at least $50,000 more expensive to the customer, but probably more. — PACCAR Executive"

"The system is outdated and they need a lot of innovation on their workflows. That's the feedback we have gotten. But I would definitely recommend doing their due diligence and also speaking to the references, and I think that kind of sums it up. I tend to use this line quite a few times. — IQVIA executive"

"Smart devices and implants will play a big role in orthopaedics and we are excited for OrthoSensor to join Stryker as we continue to innovate and advance smart sensor technologies, including intraoperative sensors, wearables and smart implants across our joint replacement business. — Stryker (Jan 5, 2021)"

""...we've seen our market share continue to grow... given our track record of success in helping companies more efficiently manage their healthcare spend while simultaneously enhancing the patient experience through our superior clinical outcomes." — CEO Peter Anevski on PGNY Q3 2022 Earnings Call 11/3/22"

""...a growing level of excitement among our team and our board about this [PDN] opportunity. So, I would say we are, with each passing month, we get, the more psyched internally about the ability to enter this market and grow a meaningful and defensible business..." — Keith Grossman, CEO, comments 11/5/20"

""Throughout the year, demand largely met or exceeded our expectations, but closed sales haven't. From 2017 to 2022, between 6.3% and 7.2% of the people who contacted Redfin or our partner agents had closed a sale with us by this point in the year. In 2023, that number is 5.5%" — Redfin Q2'23 Earnings Call"

"The Agency determined that HARMONY 1 could not be considered as adequate and well-controlled trial for the cataplexy endpoint for the following reasons: 1. Cataplexy was a secondary endpoint in HARMONY 1. There was no prospective plan to control the Type-I error rate for secondary endpoints in this study."

"衡器行业和工业控制领域是公司所处行业的主要下游行业，其市场较为分散，市场竞争较为激烈。激烈的市场竞争对公司的产品质量、服务、价格、研发能力和市场开拓能力等提出了更高的要求。公司与威世(Vishay)测量集团、HBM公司、梅特勒-托利多(Mettler Toledo)集团为代表的国际龙头企业相比，在研发能力、高端产品、资本实力等方面仍有一定差距。虽然公司通过加强研发投入、加强自主品牌建设、开拓下游应用领域等措施强化核心竞争力，但国际竞争对手也加快了制造重心向我国的转移，从而加大了市场竞争风险。若公司未来不能继续加强自己的竞争优势，可能在日趋激烈的市场竞争中处于不利地位，公司将面临市场竞争导致的销量下滑风险。"

"We face intense competition in each of our businesses. We participate in an intensely competitive industry with numerous global and regional competitors. Over the past few years, certain of our competitors have added oilseed processing and refining capacity in response to growing demand. — Bunge 2025 10-K"

"Last month, Danimer Scientific's own Dr. Isao Noda traveled to Dubai and attended the Global Bottled Water Congress along with existing partners Maurizio Patarnello, CEO and Chairman of Nestlé Waters, and Simon Lowden, President and Chief Marketing Officer of Global Foods at PepsiCo (pictured). — Facebook"

"Хотел бы уточнить о возможности размещения четырех детей из ДНР и ЛНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-17 лет. Красотки! Трое - сироты, у еще одного ребенка где-то родители на Украине. У всех удочерение — Anonymous email sender to NOVOTEL Krasnoyarsk."