SpringOwl Activist Presentation Deck
When Executives Buy Stock, Shareholders Win
▪ Tim Armstrong invested $30 million of his own money in AOL stock
▪ Nikesh Arora invested $483 million of his own money in SoftBank stock
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Henrique De Castro was fired by Mayer 15 months after she hired him to be Yahoo's COO; the total cost to Yahoo
shareholders was $109 million¹
Neither Mayer nor De Castro has ever dug into his/her own pockets to purchase any Yahoo stock on the
open market
SoftPak b
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Source: 1. http://www.businessinsider.com/henrique-de-castros-compensation-2014-1
http://www.bloomberg.com/news/articles/2015-08-19/softbank-s-arora-to-buy-483-million-of-stock-as-personal-bet-
Confidential | For Discussion Purposes Only | 57View entire presentation