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Nasdaq · USD

APPF

APPFOLIO INC

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3638
SEC CIK
0001433195
Parsed reports
452

Last 12 months

Inside the activity.

0 purchase rows · 400 sale rows

Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.
Monthly counts
MonthPurchasesSales
Nov 2025011
Dec 202500
Jan 202600
Feb 2026011
Mar 202600
Apr 202600
May 202604
Jun 2026010
Jul 2026064
Aug 20260300
Sep 202600
Oct 202600

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateOwner / reported roleActivity / securityShares / unitsReported priceReported valueDetails
August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 694 $224.13 $155,546.22
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 24

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 31,500

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F11 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $223.59 to $224.40, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 1,006 $222.43 $223,764.58
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 23

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 32,194

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F10 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $222.09 to $223.08, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 365 $221.37 $80,800.05
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 22

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 33,200

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F9 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $220.96 to $221.895, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 92 $218.14 $20,068.88
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 21

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 33,565

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 183 $216.38 $39,597.54
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 20

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 33,657

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 92 $214.73 $19,755.16
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 19

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 33,840

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F8 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.36 to $214.95, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 62 $224.14 $13,896.68
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 18

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,000

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F11 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $223.59 to $224.40, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 94 $222.42 $20,907.48
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 17

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,062

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F10 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $222.09 to $223.08, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 35 $221.41 $7,749.35
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 16

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,156

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F9 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $220.96 to $221.895, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 8 $218.14 $1,745.12
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 15

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,191

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 17 $216.38 $3,678.46
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 14

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,199

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

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August 21, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 8 $214.71 $1,717.68
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 13

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,216

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F8 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.36 to $214.95, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 78 $220.06 $17,164.68
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 12

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 33,932

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 701 $219.35 $153,764.35
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 11

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 34,010

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $219.03 to $220.02, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 1,947 $218.45 $425,322.15
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 10

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 34,711

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F5 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $218.03 to $218.99, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 1,550 $217.67 $337,388.50
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 9

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 36,658

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F4 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $217.03 to $218.02, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 702 $216.43 $151,933.86
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 8

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 38,208

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F3 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $216.01 to $216.94, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 622 $215.37 $133,960.14
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 7

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 38,910

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F2 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.75 to $215.61, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 22 $220.06 $4,841.32
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 6

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,224

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 199 $219.35 $43,650.65
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 5

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,246

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $219.03 to $220.02, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 551 $218.46 $120,371.46
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,445

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F5 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $218.03 to $218.99, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 452 $217.68 $98,391.36
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 3

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 8,996

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F4 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $217.03 to $218.02, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 198 $216.44 $42,855.12
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 2

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 9,448

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F3 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $216.01 to $216.94, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
August 20, 2026 Filed Aug 24, 2026 21:58 UTC SaleClass A Common Stock 178 $215.37 $38,335.86
Disclosure

SEC source: 0000938333-26-000023 · form4-08242026_090815.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 9,646

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F2 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.75 to $215.61, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 312 $215.60 $67,267.20
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 14

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 39,532

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F5 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $215.50 to $215.77, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 1,801 $214.94 $387,106.94
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 13

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 39,844

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F10 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.39 to $215.37, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 2,005 $213.78 $428,628.90
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 12

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 41,645

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F3 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $213.31 to $214.30, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

Read SEC document
August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 781 $212.64 $166,071.84
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 11

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 43,650

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F2 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $212.22 to $213.16, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 234 $211.18 $49,416.12
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 10

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 44,431

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F9 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $210.94 to $211.67, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 156 $209.12 $32,622.72
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 9

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 44,665

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F8 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $209.01 to $209.22, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 23 $207.27 $4,767.21
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 8

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 44,821

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 132 $206.45 $27,251.40
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 7

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 44,844

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F7 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $206.05 to $207.03, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 78 $203.98 $15,910.44
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 6

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 44,976

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 78 $202.61 $15,803.58
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 5

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 45,054

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 88 $215.60 $18,972.80
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 9,824

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F5 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $215.50 to $215.77, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 510 $214.94 $109,619.40
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 3

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 9,912

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F4 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $214.39 to $215.33, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 584 $213.78 $124,847.52
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 2

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 10,422

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F3 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $213.31 to $214.30, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:35 UTC SaleClass A Common Stock 219 $212.64 $46,568.16
Disclosure

SEC source: 0000938333-26-000022 · form4-08202026_100813.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,006

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F2 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $212.22 to $213.16, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 66 $211.18 $13,937.88
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 30

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,225

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F14 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $210.94 to $211.67, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 44 $209.12 $9,201.28
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 29

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,291

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F13 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $209.01 to $209.22, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 7 $207.27 $1,450.89
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 28

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,335

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 38 $206.46 $7,845.48
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 27

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,342

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F12 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $206.05 to $207.03, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 22 $203.98 $4,487.56
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 26

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,380

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

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August 19, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 22 $202.61 $4,457.42
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 25

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Family Trust

Disclosed balance after: 11,402

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

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August 19, 2026 Filed Aug 20, 2026 21:59 UTC
Eaton Timothy MathiasChief Financial Officer
SaleClass A Common Stock 373 $202.61 $75,573.53
Disclosure

SEC source: 0002043379-26-000012 · wk-form4_1787263190.xml · nonDerivative · entry 1

Eaton Timothy Mathias · CIK 0002043379 · Chief Financial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 16,714

F1 · kind: These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 13, 2026.

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August 18, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 434 $205.95 $89,382.30
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 24

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 45,132

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F9 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $205.495 to $206.14, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 18, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 1,000 $204.98 $204,980.00
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 23

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 45,566

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F8 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $204.49 to $205.46, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 18, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 2,588 $203.88 $527,641.44
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 22

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 46,566

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F7 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $203.355 to $204.29, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 18, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 359 $202.77 $72,794.43
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 21

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 49,154

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F6 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $202.23 to $203.00, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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August 18, 2026 Filed Aug 20, 2026 22:33 UTC SaleClass A Common Stock 576 $201.49 $116,058.24
Disclosure

SEC source: 0000938333-26-000021 · form4-08202026_100851.xml · nonDerivative · entry 20

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By Pension Trust

Disclosed balance after: 49,513

F1 · kind: Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.

F5 · price: This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $201.03 to $201.95, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · ownership.nature: These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.