Last 12 months
Inside the activity.
0 purchase rows · 1 sale rows
Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.Monthly counts
| Month | Purchases | Sales |
|---|---|---|
| Nov 2025 | 0 | 0 |
| Dec 2025 | 0 | 0 |
| Jan 2026 | 0 | 0 |
| Feb 2026 | 0 | 0 |
| Mar 2026 | 0 | 0 |
| Apr 2026 | 0 | 0 |
| May 2026 | 0 | 0 |
| Jun 2026 | 0 | 1 |
| Jul 2026 | 0 | 0 |
| Aug 2026 | 0 | 0 |
| Sep 2026 | 0 | 0 |
| Oct 2026 | 0 | 0 |
Latest available
Insider transactions
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 date | Owner / reported role | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| February 04, 2020 Filed Feb 4, 2020 23:57 UTC |
BOLIN TOM WVice President
|
GrantCommon Class A | 2 | $60.77 | $121.54 |
DisclosureSEC source: 0000028917-20-000029 · edgar.xml · nonDerivative · entry 2 BOLIN TOM W · CIK 0001675457 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,472 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:58 UTC |
LITCHFORD MIKEVice President
|
GrantCommon Class A | 5 | $60.77 | $303.85 |
DisclosureSEC source: 0000028917-20-000030 · edgar.xml · nonDerivative · entry 2 LITCHFORD MIKE · CIK 0001675476 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,553 Read SEC document |
| February 04, 2020 Filed Feb 5, 2020 00:00 UTC |
Jazic AnnemarieVice President
|
GrantCommon Class A | 1 | $60.77 | $60.77 |
DisclosureSEC source: 0000028917-20-000034 · edgar.xml · nonDerivative · entry 2 Jazic Annemarie · CIK 0001707990 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 38,921 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:59 UTC |
Lucie Denise AlexandraVice President
|
GrantCommon Class A | 3 | $60.77 | $182.31 |
DisclosureSEC source: 0000028917-20-000033 · edgar.xml · nonDerivative · entry 2 Lucie Denise Alexandra · CIK 0001708000 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 37,460 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:59 UTC |
STOCKMAN JAMES DVice President
|
GrantCommon Class A | 26 | $60.77 | $1,580.02 |
DisclosureSEC source: 0000028917-20-000032 · edgar.xml · nonDerivative · entry 2 STOCKMAN JAMES D · CIK 0001707480 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 32,969 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:58 UTC |
BOLTE TONY JVice President
|
GrantCommon Class A | 2 | $60.77 | $121.54 |
DisclosureSEC source: 0000028917-20-000031 · edgar.xml · nonDerivative · entry 2 BOLTE TONY J · CIK 0001707575 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,607 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:56 UTC |
Worley Dean L.VP/General Counsel & Secretary
|
GrantCommon Class A | 7 | $60.77 | $425.39 |
DisclosureSEC source: 0000028917-20-000028 · edgar.xml · nonDerivative · entry 2 Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,755 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:56 UTC |
Johnson Chris B.Senior Vice President
|
GrantCommon Class A | 8 | $60.77 | $486.16 |
DisclosureSEC source: 0000028917-20-000027 · edgar.xml · nonDerivative · entry 2 Johnson Chris B. · CIK 0001626259 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 7,575 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:55 UTC |
MUSGRAVE BRANTCorporate VP Stores
|
GrantCommon Class A | 2 | $60.77 | $121.54 |
DisclosureSEC source: 0000028917-20-000025 · edgar.xml · nonDerivative · entry 2 MUSGRAVE BRANT · CIK 0001599725 · Corporate VP Stores 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,632 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:54 UTC |
McNiff Michael S.Vice President
|
GrantCommon Class A | 24 | $60.77 | $1,458.48 |
DisclosureSEC source: 0000028917-20-000024 · edgar.xml · nonDerivative · entry 2 McNiff Michael S. · CIK 0001592742 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 24,155 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:54 UTC |
Mahaffy Denise DillardSenior Vice President
|
GrantCommon Class A | 65 | $60.77 | $3,950.05 |
DisclosureSEC source: 0000028917-20-000023 · edgar.xml · nonDerivative · entry 2 Dillard Deborah · CIK 0001592712 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 131,363 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:53 UTC |
MATHENY DRUEDirector · Executive Vice President
|
GrantCommon Class A | 117 | $60.77 | $7,110.09 |
DisclosureSEC source: 0000028917-20-000022 · edgar.xml · nonDerivative · entry 2 MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 444,698 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:53 UTC |
Dillard William T. IIISenior Vice President
|
GrantCommon Class A | 13 | $60.77 | $790.01 |
DisclosureSEC source: 0000028917-20-000021 · edgar.xml · nonDerivative · entry 2 Dillard William T. III · CIK 0001592970 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 30,801 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:51 UTC |
DILLARD MIKEDirector · Executive Vice President
|
GrantCommon Class A | 340 | $60.77 | $20,661.80 |
DisclosureSEC source: 0000028917-20-000019 · edgar.xml · nonDerivative · entry 2 DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 584,323 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:52 UTC |
DILLARD WILLIAM T IIDirector · CEO, Chairman of the Board
|
GrantCommon Class A | 474 | $60.77 | $28,804.98 |
DisclosureSEC source: 0000028917-20-000020 · edgar.xml · nonDerivative · entry 2 DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of the Board 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,076,384 Read SEC document |
| February 04, 2020 Filed Feb 4, 2020 23:51 UTC |
DILLARD ALEXDirector · President
|
GrantCommon Class A | 212 | $60.77 | $12,883.24 |
DisclosureSEC source: 0000028917-20-000018 · edgar.xml · nonDerivative · entry 2 DILLARD ALEX · CIK 0001180004 · Director · President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,013,919 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:57 UTC |
BOLIN TOM WVice President
|
GrantCommon Class A | 248 | $63.90 | $15,847.20 |
DisclosureSEC source: 0000028917-20-000029 · edgar.xml · nonDerivative · entry 1 BOLIN TOM W · CIK 0001675457 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,470 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:58 UTC |
LITCHFORD MIKEVice President
|
GrantCommon Class A | 308 | $63.90 | $19,681.20 |
DisclosureSEC source: 0000028917-20-000030 · edgar.xml · nonDerivative · entry 1 LITCHFORD MIKE · CIK 0001675476 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,548 Read SEC document |
| January 31, 2020 Filed Feb 5, 2020 00:00 UTC |
Jazic AnnemarieVice President
|
GrantCommon Class A | 216 | $63.90 | $13,802.40 |
DisclosureSEC source: 0000028917-20-000034 · edgar.xml · nonDerivative · entry 1 Jazic Annemarie · CIK 0001707990 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 38,920 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:59 UTC |
Lucie Denise AlexandraVice President
|
GrantCommon Class A | 222 | $63.90 | $14,185.80 |
DisclosureSEC source: 0000028917-20-000033 · edgar.xml · nonDerivative · entry 1 Lucie Denise Alexandra · CIK 0001708000 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 37,457 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:59 UTC |
STOCKMAN JAMES DVice President
|
GrantCommon Class A | 324 | $63.90 | $20,703.60 |
DisclosureSEC source: 0000028917-20-000032 · edgar.xml · nonDerivative · entry 1 STOCKMAN JAMES D · CIK 0001707480 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 32,943 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:58 UTC |
BOLTE TONY JVice President
|
GrantCommon Class A | 351 | $63.90 | $22,428.90 |
DisclosureSEC source: 0000028917-20-000031 · edgar.xml · nonDerivative · entry 1 BOLTE TONY J · CIK 0001707575 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,605 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:56 UTC |
Worley Dean L.VP/General Counsel & Secretary
|
GrantCommon Class A | 339 | $63.90 | $21,662.10 |
DisclosureSEC source: 0000028917-20-000028 · edgar.xml · nonDerivative · entry 1 Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,748 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:56 UTC |
Johnson Chris B.Senior Vice President
|
GrantCommon Class A | 391 | $63.90 | $24,984.90 |
DisclosureSEC source: 0000028917-20-000027 · edgar.xml · nonDerivative · entry 1 Johnson Chris B. · CIK 0001626259 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 7,567 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:55 UTC |
Watts Phillip R.Senior Vice President
|
GrantCommon Class A | 391 | $63.90 | $24,984.90 |
DisclosureSEC source: 0000028917-20-000026 · edgar.xml · nonDerivative · entry 1 Watts Phillip R. · CIK 0001626240 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 8,711 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:55 UTC |
MUSGRAVE BRANTCorporate VP Stores
|
GrantCommon Class A | 271 | $63.90 | $17,316.90 |
DisclosureSEC source: 0000028917-20-000025 · edgar.xml · nonDerivative · entry 1 MUSGRAVE BRANT · CIK 0001599725 · Corporate VP Stores 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,630 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:54 UTC |
McNiff Michael S.Vice President
|
GrantCommon Class A | 350 | $63.90 | $22,365.00 |
DisclosureSEC source: 0000028917-20-000024 · edgar.xml · nonDerivative · entry 1 McNiff Michael S. · CIK 0001592742 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 24,131 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:54 UTC |
Mahaffy Denise DillardSenior Vice President
|
GrantCommon Class A | 443 | $63.90 | $28,307.70 |
DisclosureSEC source: 0000028917-20-000023 · edgar.xml · nonDerivative · entry 1 Dillard Deborah · CIK 0001592712 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 131,298 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:53 UTC |
MATHENY DRUEDirector · Executive Vice President
|
GrantCommon Class A | 766 | $63.90 | $48,947.40 |
DisclosureSEC source: 0000028917-20-000022 · edgar.xml · nonDerivative · entry 1 MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 444,581 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:53 UTC |
Dillard William T. IIISenior Vice President
|
GrantCommon Class A | 441 | $63.90 | $28,179.90 |
DisclosureSEC source: 0000028917-20-000021 · edgar.xml · nonDerivative · entry 1 Dillard William T. III · CIK 0001592970 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 30,788 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:51 UTC |
DILLARD MIKEDirector · Executive Vice President
|
GrantCommon Class A | 692 | $63.90 | $44,218.80 |
DisclosureSEC source: 0000028917-20-000019 · edgar.xml · nonDerivative · entry 1 DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 583,983 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:52 UTC |
DILLARD WILLIAM T IIDirector · CEO, Chairman of the Board
|
GrantCommon Class A | 1,242 | $63.90 | $79,363.80 |
DisclosureSEC source: 0000028917-20-000020 · edgar.xml · nonDerivative · entry 1 DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of the Board 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,075,910 Read SEC document |
| January 31, 2020 Filed Feb 4, 2020 23:51 UTC |
DILLARD ALEXDirector · President
|
GrantCommon Class A | 1,242 | $63.90 | $79,363.80 |
DisclosureSEC source: 0000028917-20-000018 · edgar.xml · nonDerivative · entry 1 DILLARD ALEX · CIK 0001180004 · Director · President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,013,707 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:18 UTC |
Lucie Denise AlexandraVice President
|
GrantCommon Class A | 51 | $73.47 | $3,746.97 |
DisclosureSEC source: 0000028917-19-000497 · edgar.xml · nonDerivative · entry 1 Lucie Denise Alexandra · CIK 0001708000 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 37,235 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:04 UTC |
MATHENY DRUEDirector · Executive Vice President
|
GrantCommon Class A | 100 | $73.47 | $7,347.00 |
DisclosureSEC source: 0000028917-19-000484 · edgar.xml · nonDerivative · entry 1 MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 443,815 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:16 UTC |
Worley Dean L.VP/General Counsel & Secretary
|
GrantCommon Class A | 64 | $73.47 | $4,702.08 |
DisclosureSEC source: 0000028917-19-000495 · edgar.xml · nonDerivative · entry 1 Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,409 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:15 UTC |
Watts Phillip R.Senior Vice President
|
GrantCommon Class A | 72 | $73.47 | $5,289.84 |
DisclosureSEC source: 0000028917-19-000494 · edgar.xml · nonDerivative · entry 1 Watts Phillip R. · CIK 0001626240 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 8,320 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:22 UTC |
BOLIN TOM WVice President
|
GrantCommon Class A | 58 | $73.47 | $4,261.26 |
DisclosureSEC source: 0000028917-19-000500 · edgar.xml · nonDerivative · entry 1 BOLIN TOM W · CIK 0001675457 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,222 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:21 UTC |
MUSGRAVE BRANTCorporate VP Stores
|
GrantCommon Class A | 75 | $73.47 | $5,510.25 |
DisclosureSEC source: 0000028917-19-000499 · edgar.xml · nonDerivative · entry 1 MUSGRAVE BRANT · CIK 0001599725 · Corporate VP Stores 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,359 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:20 UTC |
Johnson Chris B.Senior Vice President
|
GrantCommon Class A | 72 | $73.47 | $5,289.84 |
DisclosureSEC source: 0000028917-19-000498 · edgar.xml · nonDerivative · entry 1 Johnson Chris B. · CIK 0001626259 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 7,176 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:17 UTC |
Jazic AnnemarieVice President
|
GrantCommon Class A | 45 | $73.47 | $3,306.15 |
DisclosureSEC source: 0000028917-19-000496 · edgar.xml · nonDerivative · entry 1 Jazic Annemarie · CIK 0001707990 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 38,704 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:14 UTC |
Dillard William T. IIISenior Vice President
|
GrantCommon Class A | 101 | $73.47 | $7,420.47 |
DisclosureSEC source: 0000028917-19-000493 · edgar.xml · nonDerivative · entry 1 Dillard William T. III · CIK 0001592970 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 30,347 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:13 UTC |
LITCHFORD MIKEVice President
|
GrantCommon Class A | 58 | $73.47 | $4,261.26 |
DisclosureSEC source: 0000028917-19-000492 · edgar.xml · nonDerivative · entry 1 LITCHFORD MIKE · CIK 0001675476 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,240 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:12 UTC |
BOLTE TONY JVice President
|
GrantCommon Class A | 73 | $73.47 | $5,363.31 |
DisclosureSEC source: 0000028917-19-000491 · edgar.xml · nonDerivative · entry 1 BOLTE TONY J · CIK 0001707575 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,254 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:11 UTC |
STOCKMAN JAMES DVice President
|
GrantCommon Class A | 84 | $73.47 | $6,171.48 |
DisclosureSEC source: 0000028917-19-000490 · edgar.xml · nonDerivative · entry 1 STOCKMAN JAMES D · CIK 0001707480 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 32,619 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:10 UTC |
Mahaffy Denise DillardSenior Vice President
|
GrantCommon Class A | 84 | $73.47 | $6,171.48 |
DisclosureSEC source: 0000028917-19-000489 · edgar.xml · nonDerivative · entry 1 Dillard Deborah · CIK 0001592712 · Senior Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 130,855 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:09 UTC |
McNiff Michael S.Vice President
|
GrantCommon Class A | 220 | $73.47 | $16,163.40 |
DisclosureSEC source: 0000028917-19-000488 · edgar.xml · nonDerivative · entry 1 McNiff Michael S. · CIK 0001592742 · Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 23,781 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:07 UTC |
DILLARD MIKEDirector · Executive Vice President
|
GrantCommon Class A | 100 | $73.47 | $7,347.00 |
DisclosureSEC source: 0000028917-19-000487 · edgar.xml · nonDerivative · entry 1 DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 583,291 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:06 UTC |
DILLARD WILLIAM T IIDirector · CEO, Chairman of the Board
|
GrantCommon Class A | 140 | $73.47 | $10,285.80 |
DisclosureSEC source: 0000028917-19-000486 · edgar.xml · nonDerivative · entry 1 DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of the Board 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,074,668 Read SEC document |
| December 30, 2019 Filed Dec 31, 2019 21:05 UTC |
DILLARD ALEXDirector · President
|
GrantCommon Class A | 140 | $73.47 | $10,285.80 |
DisclosureSEC source: 0000028917-19-000485 · edgar.xml · nonDerivative · entry 1 DILLARD ALEX · CIK 0001180004 · Director · President 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,012,465 Read SEC document |
Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.