{
  "ticker": "FNF",
  "company": "Fidelity National Financial, Inc.",
  "cik": "0001331875",
  "exchange": null,
  "gics_sector": "Financials",
  "industry": "Financials",
  "logo_url": "https://www.google.com/s2/favicons?domain=fnf.com&sz=128",
  "from_state": "DE",
  "to_state": "NV",
  "effective_date_iso": "2025-06-11",
  "actual_effective_date_iso": "2025-06-11",
  "proposed_effective_date_iso": null,
  "source_confidence": "VERIFIED_VOTE",
  "is_legal_precedent": 0,
  "vote_mechanism": "MEETING",
  "approval_basis": "For \u00f7 outstanding shares entitled to vote (computed value 66.27% reflects For/(For+Against), but binding statutory standard is majority of outstanding)",
  "threshold_result": "PASSED",
  "event_type": "REINCORPORATION",
  "two_attempt_flag": 1,
  "prior_failed_vote_flag": 1,
  "governance_concession_redo_flag": 1,
  "subsequent_event_flag": 0,
  "subsequent_event_type": null,
  "subsequent_event_date_iso": null,
  "subsequent_event_note": null,
  "public_tier": "VERIFIED_TRACKER",
  "event_study_announcement_json": "{\"event_date\":\"2025-04-15\",\"event_tag\":\"announcement\",\"estimation_window\":\"2024-04-30 to 2025-04-14 (240 days)\",\"specifications\":[{\"name\":\"Synthetic control (12-donor Financials peer pool)\",\"day0_ar\":0.009570760349916645,\"p_value\":null,\"p_label\":\"no inference (point estimate)\",\"extra\":{\"pre_rmspe\":0.006980014949361706,\"n_donors\":12,\"top_weights\":{\"FAF\":0.5266,\"STC\":0.1969,\"PRU\":0.0816,\"GL\":0.0748,\"PGR\":0.0612},\"r2_pre\":0.9051946520656831}},{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":0.006815670592975198,\"p_value\":0.5948319616163678,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.0008975013416257509,\"beta\":0.5677410024840964,\"r2\":0.23669873509895767}},{\"name\":\"Sector-augmented model (SPY + Bank sector ETF (KBE))\",\"day0_ar\":-0.0013214065860210882,\"p_value\":0.9028349242145353,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.0008400344790111986,\"beta_mkt\":0.07078122122522873,\"beta_sector\":0.49460358591906073,\"r2\":0.4553447639478806},\"is_headline\":true},{\"name\":\"Matched pair (vs FAF, market-model-adjusted)\",\"day0_ar\":0.00931769841826752,\"p_value\":0.6082767744283846,\"p_label\":\"two-sided p-value\",\"extra\":{\"se\":0.018179640676633704,\"t\":0.512534795599319}},{\"name\":\"Raw differential vs FAF\",\"day0_ar\":0.009567388923008013,\"p_value\":null,\"p_label\":\"no inference\",\"extra\":{}}],\"robustness\":{\"pretrend_test\":{\"slope_pct_per_day\":-0.00038247500851481007,\"p_slope\":0.7790686712491248,\"verdict\":\"no_pretrend_detected\"},\"sign_test\":{\"n_same_direction\":3,\"n_total\":12,\"binomial_p_two_sided\":0.14599609375},\"synth_fit\":{\"pearson_corr\":0.9582773179697788,\"r_squared_levels\":0.9051946520656831,\"durbin_watson\":2.0531524249360005}},\"per_window\":[],\"_source\":\"Source A: phase4v cohort runner (5 specs + robustness, 2026-04-28 yfinance pull); joined into data.json by phase5z_join_full_battery.py\",\"event_kind\":\"announcement\",\"t0_source_field\":\"announcement_date_iso\"}",
  "announcement_date_iso": "2025-04-28",
  "meeting_date_iso": "2025-06-11",
  "vote_result": "APPROVED",
  "status_label": "COMPLETED",
  "market_cap_usdmm": 17200.0,
  "bucket_class": "B2",
  "public_bucket_code": "C",
  "public_bucket_label": "Post-SB29 DExit completed (Nevada)",
  "public_bucket_subcode": "C-NV",
  "panel_eligibility": "PANEL_A_post_SB29",
  "transaction_status": "COMPLETED",
  "audit_status": "VERIFIED",
  "audit_notes": "Phase 3F: cleared future meeting_date_iso=2026-06-17 \u2014 firm already moved (eff_date=2025-06-12); the future date was the next annual meeting at the new domicile, not the reincorporation vote. | Phase 3F vote-result inferred APPROVED from status=COMPLETED + populated eff date (2025-06-12). Original vote_result was 'SCHEDULED'. Verify with 8-K if uncertain. | [2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://investor.fnf.com/ | [2026-04-28] Phase 4K: corrected year error (announcement 2026-04-15 -> 2025-04-15). FNF is the cohort's only TWO_ATTEMPT_SUCCESS firm: 2024 vote failed outstanding-shares threshold (For 110,277,692 / Against 107,467,828 / ~27M broker non-votes); came back in 2025 with three governance concessions (NV exculpation opt-out for loyalty breaches; stockholder approval req'd for reverse splits; dissenter's rights for cash-out mergers). 2025 vote: For 147,059,505 / Against 74,874,567 -> APPROVED 2025-06-11. Within-firm governance-concession identification is the strongest causal-inference design in cohort. | [2026-04-28] Phase 4N: synthesized event_study_announcement_json from existing scalar CAR cells (phase4a_v2 join). Reviewer can extend with multi-spec analysis. | [2026-04-28] Phase 4Q: audit_status PENDING_TRANSACTION -> VERIFIED. 2025 successful vote (For 147.1M / Against 74.9M); two-attempt success after 2024 failure already flagged.\n[2026-04-28] phase5c: vote source 8-K 0001331875-25-000046 (2025-06-12, \u0394=1d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-28] phase5c: vote source 8-K 0001331875-25-000046 (2025-06-12, \u0394=1d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-29] phase5r: bucket 'D' -> 'B2' (DE->NV effective 2025-06-11 >= SB29 -> bucket B2)\n[2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v3 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58) | [2026-04-29] v3.75: approval_basis='For \u00f7 (For + Against)' and approval_standard='majority of votes cast' confirmed by computed/stored pct match within 1pp. Pincite verification pending. | [2026-04-29] v3.75: PINCITE-VERIFIED \u2014 standard per multiple secondary sources is 'affirmative vote of a majority of the shares of our outstanding common stock entitled to vote thereon' (DGCL \u00a7266(b)). 2024 attempt FAILED (110.3M for vs 107.5M against \u2014 failed majority-of-outstanding test). 2025 attempt PASSED (147.1M for / 74.9M against). Stored approval_pct=66.27% reflects votes-cast computation; legally binding test was majority of outstanding voting power. | v3.84-rev2 MODERATE date correction: announcement_date_iso changed from 2025-04-15 to 2025-04-28. The April 15 date was board recommendation / press-release date for FNF's second reincorporation attempt (after 2024 failure). DEF 14A filed April 28, 2025 is the first SEC-filed disclosure of the renewed proposal. PRE 14A verification still pending. | v3.84-rev5 [2026-04-30] cell-audit reconciliation verified: DEF 14A filing date (second attempt) (source_type=DEF14A, quality=HIGH).",
  "edgar_accession": null,
  "edgar_accession_note": null,
  "links": [
    {
      "label": "IR",
      "url": "https://investor.fnf.com/",
      "link_type": "ir"
    },
    {
      "label": "EDGAR",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001331875&type=&dateb=&owner=include&count=40",
      "link_type": "search"
    },
    {
      "label": "Proxy",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001331875&type=DEF+14A&dateb=&owner=include&count=40",
      "link_type": "search"
    }
  ],
  "car": {
    "value": -0.1084841695284891,
    "significant_5pct": 0,
    "specification": "panel_A_pooled_3primary",
    "source": "05_REVIEWER_AUDIT_PACKAGE/code/panelA_CAR_BHAR_matrix_v2.3.csv",
    "status": "ESTIMATED",
    "bhar_3mo": -0.018652,
    "bhar_6mo": -0.142331,
    "pooled_3primary": -0.1084841695284891,
    "t0_a": -0.03071628181933851,
    "t0_b": -0.07814229840291037,
    "t0_c": 0.0003744106937598052,
    "announce": {
      "value": -0.03071628181933851,
      "pvalue": null,
      "specification": "panel_A_T0_announcement",
      "event_date": null
    },
    "vote": {
      "value": -0.07814229840291037,
      "pvalue": null,
      "specification": "panel_A_T0_vote",
      "event_date": null
    }
  },
  "votes_for": 147059505.0,
  "votes_against": 74874567.0,
  "votes_abstain": null,
  "votes_broker_nonvote": null,
  "approval_pct": 66.27,
  "votes_for_disinterested": null,
  "votes_against_disinterested": null,
  "votes_abstain_disinterested": null,
  "votes_broker_nonvote_disinterested": null,
  "approval_pct_disinterested": null,
  "approval_basis_disinterested": null,
  "announcement_PRE_14A_accession": null,
  "announcement_PRE_14A_url": null,
  "vote_source_8k_accession": "0001331875-25-000046",
  "vote_source_8k_url": "https://www.sec.gov/Archives/edgar/data/1331875/000133187525000046/fnf-20250611.htm",
  "vote_proposal_title": null,
  "meeting_type": null,
  "approval_standard": "affirmative vote of a majority of the shares of outstanding common stock entitled to vote thereon (DGCL \u00a7266(b))",
  "companion_proposal": null,
  "proxy_advisors": null,
  "management_response": null,
  "press_coverage": [],
  "prior_vote": {
    "attempt_count": 1.0,
    "date_iso": "2024-06-26",
    "votes_for": 110277692.0,
    "votes_against": 107467828.0,
    "votes_abstain": null,
    "outcome": "FAILED_OUTSTANDING_THRESHOLD",
    "approval_pct_of_cast": null
  },
  "panel_a_tx_incumbent": 0,
  "panel_b_dexit_mover": 1,
  "texas_statutory_adoptions": {
    "tboc_21_552": {
      "name": "SB 29 \u2014 TBOC \u00a721.552 derivative threshold",
      "adopted": 0,
      "source": null,
      "url": null,
      "date": null
    },
    "tboc_21_373": {
      "name": "SB 1057 \u2014 TBOC \u00a721.373 shareholder-proposal threshold",
      "adopted": null,
      "source": null,
      "url": null,
      "date": null
    }
  },
  "event_study_outcome_json": "{\"event_date\":\"2025-06-11\",\"event_kind\":\"outcome\",\"event_tag\":\"outcome\",\"t0_source_field\":\"actual_effective_date_iso\",\"estimation_window\":\"trailing 240 days; 240 valid after NaN drop\",\"specifications\":[{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":0.008646225179347437,\"p_value\":0.5341713584437249,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.000432407315516859,\"beta\":0.5802753221590643,\"r2\":0.23217457711459533,\"sigma\":0.013877669057566232},\"is_headline\":true}],\"_meta\":{\"n_valid_pre_days\":240},\"_source\":\"Source B: phase4v3 NaN-safe runner (outcome/vote window, 2026-04-29 yfinance pull); joined by phase5z_join_full_battery.py\"}",
  "first_sec_disclosure_date": "2025-04-28",
  "first_sec_disclosure_form": "DEF 14A",
  "first_sec_disclosure_accession": "0001331875-25-000046",
  "first_sec_disclosure_url": "https://www.sec.gov/Archives/edgar/data/1331875/000133187525000046/",
  "announcement_source_type": "DEF14A",
  "announcement_accession_verified": "Y",
  "date_quality_flag": "HIGH",
  "controlled": null,
  "controller_pct_voting_power": null,
  "controller": null,
  "controller_source": "UNKNOWN",
  "event_study_longrun_json": "{\"event_kind\":\"longrun\",\"event_date\":\"2025-06-11\",\"t0_source_field\":\"actual_effective_date_iso\",\"horizons\":[{\"label\":\"BHAR_21d\",\"lay_label\":\"1 month\",\"horizon_days\":21,\"n_days_available\":21,\"bhar_vs_spy\":-0.0775537727229012,\"bhar_vs_sector\":-0.0694106678554749,\"sector_etf\":\"XLF\",\"patell\":{\"car\":-0.059879541639151136,\"z\":-0.9567302334612591,\"p_value\":0.3387034339979924,\"n\":21}},{\"label\":\"BHAR_63d\",\"lay_label\":\"3 months\",\"horizon_days\":63,\"n_days_available\":63,\"bhar_vs_spy\":0.0037342387934147236,\"bhar_vs_sector\":0.03749586717116804,\"sector_etf\":\"XLF\",\"patell\":{\"car\":0.0429348019518857,\"z\":0.39605898262126904,\"p_value\":0.6920615164376658,\"n\":63}},{\"label\":\"BHAR_126d\",\"lay_label\":\"6 months\",\"horizon_days\":126,\"n_days_available\":126,\"bhar_vs_spy\":-0.11621687443213213,\"bhar_vs_sector\":-0.030077495996525316,\"sector_etf\":\"XLF\",\"patell\":{\"car\":-0.04602730949301793,\"z\":-0.3002278629405375,\"p_value\":0.7640033532659019,\"n\":126}},{\"label\":\"BHAR_252d\",\"lay_label\":\"12 months\",\"horizon_days\":252,\"n_days_available\":222,\"bhar_vs_spy\":null,\"bhar_vs_sector\":null,\"sector_etf\":\"XLF\",\"patell\":null}],\"calendar_time_alpha\":{\"vs_spy\":{\"alpha_daily\":-0.00040260280444893125,\"alpha_annualized\":-0.0964974399027837,\"t_stat\":-0.3859317880810654,\"p_value\":0.6995471874829069,\"n_days\":222,\"se_type\":\"Newey-West HAC, lag=5\"},\"vs_sector\":{\"alpha_daily\":-6.241747798252622e-05,\"alpha_annualized\":-0.01560662980872951,\"t_stat\":-0.06350804777170617,\"p_value\":0.9493619509872995,\"n_days\":222,\"se_type\":\"Newey-West HAC, lag=5\"}},\"estimation_window\":\"trailing 240 days; market-model alpha+beta for Patell-z baseline\",\"_meta\":{\"n_post_days_available\":222,\"elapsed_days\":323,\"as_of\":\"2026-04-30\"},\"_source\":\"phase5z_compute_longrun.py; yfinance pull at run time\"}",
  "_evidence_strength": {
    "badge": "GOLD",
    "score": 80,
    "max": 100,
    "components": {
      "source_confidence": 25,
      "vote_totals": 25,
      "effective_date": 20,
      "car_estimate": 10,
      "edgar_accession": 0
    }
  },
  "_context_callout": "Mid-to-large-cap firm ($17.2B) with sufficient market depth for reliable event-study identification.",
  "_generated_at": "2026-04-30"
}