Tapewire

NYSE · USD

DDS

DILLARD'S, INC.

Export transactions ↓
Tapewire entity
8784
SEC CIK
0000028917
Parsed reports
2,007

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
MonthPurchasesSales
Nov 202500
Dec 202500
Jan 202600
Feb 202600
Mar 202600
Apr 202600
May 202600
Jun 202601
Jul 202600
Aug 202600
Sep 202600
Oct 202600

Latest available

Insider transactions

JSON API
Reset

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
May 22, 2017 Filed May 24, 2017 22:56 UTC
Mahaffy Denise DillardSenior Vice President
GrantCommon Class A 90 $51.20 $4,608.00
Disclosure

SEC source: 0000028917-17-000101 · edgar.xml · nonDerivative · entry 1

Dillard Deborah · CIK 0001592712 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,641

Read SEC document
May 22, 2017 Filed May 24, 2017 22:55 UTC
McNiff Michael S.Vice President
GrantCommon Class A 148 $51.20 $7,577.60
Disclosure

SEC source: 0000028917-17-000100 · edgar.xml · nonDerivative · entry 1

McNiff Michael S. · CIK 0001592742 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,606

Read SEC document
May 22, 2017 Filed May 24, 2017 22:50 UTC
DILLARD ALEXDirector · President
GiftCommon Class A 2,200 $0.00 $0.00
Disclosure

SEC source: 0000028917-17-000098 · edgar.xml · nonDerivative · entry 2

DILLARD ALEX · CIK 0001180004 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,008,509

Read SEC document
May 22, 2017 Filed May 24, 2017 22:50 UTC
DILLARD ALEXDirector · President
GrantCommon Class A 150 $51.20 $7,680.00
Disclosure

SEC source: 0000028917-17-000098 · edgar.xml · nonDerivative · entry 1

DILLARD ALEX · CIK 0001180004 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,010,709

Read SEC document
May 22, 2017 Filed May 24, 2017 22:52 UTC
DILLARD MIKEDirector · Executive Vice President
GrantCommon Class A 24 $51.20 $1,228.80
Disclosure

SEC source: 0000028917-17-000099 · edgar.xml · nonDerivative · entry 1

DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 576,189

Read SEC document
May 22, 2017 Filed May 24, 2017 22:45 UTC
DILLARD WILLIAM T IIDirector · CEO, Chairman of Board
GrantCommon Class A 150 $51.20 $7,680.00
Disclosure

SEC source: 0000028917-17-000096 · edgar.xml · nonDerivative · entry 1

DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of Board

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,085,332

Read SEC document
May 22, 2017 Filed May 24, 2017 22:41 UTC
MATHENY DRUEDirector · Executive Vice President
GrantCommon Class A 110 $51.20 $5,632.00
Disclosure

SEC source: 0000028917-17-000095 · edgar.xml · nonDerivative · entry 1

MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 438,267

Read SEC document
May 22, 2017 Filed May 24, 2017 22:05 UTC
Watts Phillip R.Senior Vice President
GrantCommon Class A 75 $51.20 $3,840.00
Disclosure

SEC source: 0000028917-17-000093 · edgar.xml · nonDerivative · entry 1

Watts Phillip R. · CIK 0001626240 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,937

Read SEC document
May 22, 2017 Filed Mar 20, 2018 23:17 UTC
Jazic AnnemarieVice President
GiftCommon Class A 550 $0.00 $0.00
Disclosure

SEC source: 0000028917-18-000144 · edgar.xml · nonDerivative · entry 1

Jazic Annemarie · CIK 0001707990 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,240

F4 · balance_after: This amount has been adjusted to account for a record discrepancy resulting from the rounding of fractional shares.

Read SEC document
May 22, 2017 Filed Mar 20, 2018 23:15 UTC GiftCommon Class A 550 $0.00 $0.00
Disclosure

SEC source: 0000028917-18-000142 · edgar.xml · nonDerivative · entry 1

Lucie Denise Alexandra · CIK 0001708000 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,482

F4 · balance_after: This amount has been adjusted to account for a record discrepancy resulting from the rounding of fractional shares.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:39 UTC GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0001187376-17-000001 · edgar.xml · nonDerivative · entry 1

STEPHENS WARREN A · CIK 0001187376 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,400

F1 · shares: Shares were granted pursuant to the Dillard's Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:30 UTC GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000091 · edgar.xml · nonDerivative · entry 1

Rutledge Reynie · CIK 0001577157 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,800

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:28 UTC
MORI FRANK RDirector
GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000090 · edgar.xml · nonDerivative · entry 1

MORI FRANK R · CIK 0001017704 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,472

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:25 UTC
White NickDirector
GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000089 · edgar.xml · nonDerivative · entry 1

White Nick · CIK 0001311023 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,502

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:21 UTC GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000088 · edgar.xml · nonDerivative · entry 1

Hastings H. Lee III · CIK 0001492230 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,512

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:15 UTC
WATTS J C JRDirector
GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000087 · edgar.xml · nonDerivative · entry 1

WATTS J C JR · CIK 0001213577 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,650

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:12 UTC GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000086 · edgar.xml · nonDerivative · entry 1

CONNOR ROBERT C · CIK 0000906131 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 65,400

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 20, 2017 Filed May 23, 2017 21:04 UTC GrantCommon Class A 2,400 $48.63 $116,712.00
Disclosure

SEC source: 0000028917-17-000085 · edgar.xml · nonDerivative · entry 1

FREEMAN JAMES I · CIK 0001180011 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 280,401

F1 · shares: Shares were granted pursuant to the Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.

Read SEC document
May 02, 2017 Filed May 4, 2017 21:30 UTC
LITCHFORD MIKEVice President
GrantCommon Class A 2 $56.04 $112.08
Disclosure

SEC source: 0000028917-17-000076 · edgar.xml · nonDerivative · entry 1

LITCHFORD MIKE · CIK 0001675476 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,043

Read SEC document
May 02, 2017 Filed May 4, 2017 21:27 UTC
Worley Dean L.VP/General Counsel & Secretary
GrantCommon Class A 1 $56.04 $56.04
Disclosure

SEC source: 0000028917-17-000075 · edgar.xml · nonDerivative · entry 1

Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,017

Read SEC document
May 02, 2017 Filed May 4, 2017 21:26 UTC
McNiff Michael S.Vice President
GrantCommon Class A 7 $56.04 $392.28
Disclosure

SEC source: 0000028917-17-000074 · edgar.xml · nonDerivative · entry 1

McNiff Michael S. · CIK 0001592742 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,458

Read SEC document
May 02, 2017 Filed May 4, 2017 21:24 UTC
Mahaffy Denise DillardSenior Vice President
GrantCommon Class A 29 $56.04 $1,625.16
Disclosure

SEC source: 0000028917-17-000072 · edgar.xml · nonDerivative · entry 1

Dillard Deborah · CIK 0001592712 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,551

Read SEC document
May 02, 2017 Filed May 4, 2017 21:25 UTC
Dillard William T. IIISenior Vice President
GrantCommon Class A 4 $56.04 $224.16
Disclosure

SEC source: 0000028917-17-000073 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,167

Read SEC document
May 02, 2017 Filed May 4, 2017 21:23 UTC
DILLARD WILLIAM T IIDirector · CEO, Chairman of Board
GrantCommon Class A 226 $56.04 $12,665.04
Disclosure

SEC source: 0000028917-17-000071 · edgar.xml · nonDerivative · entry 1

DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of Board

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,085,182

Read SEC document
May 02, 2017 Filed May 4, 2017 21:19 UTC
DILLARD MIKEDirector · Executive Vice President
GrantCommon Class A 164 $56.04 $9,190.56
Disclosure

SEC source: 0000028917-17-000070 · edgar.xml · nonDerivative · entry 1

DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 576,165

Read SEC document
May 02, 2017 Filed May 4, 2017 21:18 UTC
DILLARD ALEXDirector · President
GrantCommon Class A 95 $56.04 $5,323.80
Disclosure

SEC source: 0000028917-17-000069 · edgar.xml · nonDerivative · entry 1

DILLARD ALEX · CIK 0001180004 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,010,559

Read SEC document
May 02, 2017 Filed May 4, 2017 21:17 UTC
MATHENY DRUEDirector · Executive Vice President
GrantCommon Class A 53 $56.04 $2,970.12
Disclosure

SEC source: 0000028917-17-000068 · edgar.xml · nonDerivative · entry 1

MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 438,157

Read SEC document
May 02, 2017 Filed May 4, 2017 21:15 UTC
Johnson Chris B.Senior Vice President
GrantCommon Class A 2 $56.04 $112.08
Disclosure

SEC source: 0000028917-17-000067 · edgar.xml · nonDerivative · entry 1

Johnson Chris B. · CIK 0001626259 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,507

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:08 UTC
Johnson Chris B.Senior Vice President
GrantCommon Class A 82 $54.24 $4,447.68
Disclosure

SEC source: 0000028917-17-000066 · edgar.xml · nonDerivative · entry 1

Johnson Chris B. · CIK 0001626259 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,505

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:07 UTC
Watts Phillip R.Senior Vice President
GrantCommon Class A 71 $54.24 $3,851.04
Disclosure

SEC source: 0000028917-17-000065 · edgar.xml · nonDerivative · entry 1

Watts Phillip R. · CIK 0001626240 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,862

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:05 UTC
Dillard William T. IIISenior Vice President
GrantCommon Class A 134 $54.24 $7,268.16
Disclosure

SEC source: 0000028917-17-000064 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,163

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:04 UTC
Mahaffy Denise DillardSenior Vice President
GrantCommon Class A 128 $54.24 $6,942.72
Disclosure

SEC source: 0000028917-17-000063 · edgar.xml · nonDerivative · entry 1

Dillard Deborah · CIK 0001592712 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,522

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:02 UTC
DILLARD ALEXDirector · President
GrantCommon Class A 2,136 $54.24 $115,856.64
Disclosure

SEC source: 0000028917-17-000061 · edgar.xml · nonDerivative · entry 1

DILLARD ALEX · CIK 0001180004 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,010,464

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:03 UTC
DILLARD MIKEDirector · Executive Vice President
GrantCommon Class A 621 $54.24 $33,683.04
Disclosure

SEC source: 0000028917-17-000062 · edgar.xml · nonDerivative · entry 1

DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 576,001

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:01 UTC
DILLARD WILLIAM T IIDirector · CEO, Chairman of Board
GrantCommon Class A 2,136 $54.24 $115,856.64
Disclosure

SEC source: 0000028917-17-000060 · edgar.xml · nonDerivative · entry 1

DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of Board

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,084,956

Read SEC document
April 24, 2017 Filed Apr 26, 2017 20:59 UTC
MATHENY DRUEDirector · Executive Vice President
GrantCommon Class A 846 $54.24 $45,887.04
Disclosure

SEC source: 0000028917-17-000059 · edgar.xml · nonDerivative · entry 1

MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 438,104

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:51 UTC
Mahaffy Denise DillardSenior Vice President
GrantCommon Class A 29 $55.75 $1,616.75
Disclosure

SEC source: 0000028917-17-000034 · edgar.xml · nonDerivative · entry 1

Dillard Deborah · CIK 0001592712 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,394

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:55 UTC
LITCHFORD MIKEVice President
GrantCommon Class A 2 $55.75 $111.50
Disclosure

SEC source: 0000028917-17-000038 · edgar.xml · nonDerivative · entry 1

LITCHFORD MIKE · CIK 0001675476 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,041

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:54 UTC
Johnson Chris B.Senior Vice President
GrantCommon Class A 2 $55.75 $111.50
Disclosure

SEC source: 0000028917-17-000037 · edgar.xml · nonDerivative · entry 1

Johnson Chris B. · CIK 0001626259 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,423

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:53 UTC
Worley Dean L.VP/General Counsel & Secretary
GrantCommon Class A 1 $55.75 $55.75
Disclosure

SEC source: 0000028917-17-000036 · edgar.xml · nonDerivative · entry 1

Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,016

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:52 UTC
Dillard William T. IIISenior Vice President
GrantCommon Class A 3 $55.75 $167.25
Disclosure

SEC source: 0000028917-17-000035 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,029

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:50 UTC
McNiff Michael S.Vice President
GrantCommon Class A 6 $55.75 $334.50
Disclosure

SEC source: 0000028917-17-000033 · edgar.xml · nonDerivative · entry 1

McNiff Michael S. · CIK 0001592742 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,451

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:49 UTC
DILLARD MIKEDirector · Executive Vice President
GrantCommon Class A 163 $55.75 $9,087.25
Disclosure

SEC source: 0000028917-17-000032 · edgar.xml · nonDerivative · entry 1

DILLARD MIKE · CIK 0001180008 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 575,380

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:48 UTC
DILLARD ALEXDirector · President
GrantCommon Class A 95 $55.75 $5,296.25
Disclosure

SEC source: 0000028917-17-000031 · edgar.xml · nonDerivative · entry 1

DILLARD ALEX · CIK 0001180004 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,008,328

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:47 UTC
DILLARD WILLIAM T IIDirector · CEO, Chairman of Board
GrantCommon Class A 226 $55.75 $12,599.50
Disclosure

SEC source: 0000028917-17-000030 · edgar.xml · nonDerivative · entry 1

DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of Board

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,082,820

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:46 UTC
MATHENY DRUEDirector · Executive Vice President
GrantCommon Class A 53 $55.75 $2,954.75
Disclosure

SEC source: 0000028917-17-000029 · edgar.xml · nonDerivative · entry 1

MATHENY DRUE · CIK 0001180017 · Director · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 437,258

Read SEC document
January 27, 2017 Filed Jan 31, 2017 22:41 UTC
Worley Dean L.VP/General Counsel & Secretary
GrantCommon Class A 338 $55.71 $18,829.98
Disclosure

SEC source: 0000028917-17-000018 · edgar.xml · nonDerivative · entry 1

Worley Dean L. · CIK 0001626260 · VP/General Counsel & Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,015

Read SEC document
January 27, 2017 Filed Jan 31, 2017 22:48 UTC
MUSGRAVE BRANTCorporate VP Stores
GrantCommon Class A 309 $55.71 $17,214.39
Disclosure

SEC source: 0000028917-17-000028 · edgar.xml · nonDerivative · entry 1

MUSGRAVE BRANT · CIK 0001599725 · Corporate VP Stores

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,147

Read SEC document
January 27, 2017 Filed Jan 31, 2017 22:47 UTC
Dillard William T. IIISenior Vice President
GrantCommon Class A 534 $55.71 $29,749.14
Disclosure

SEC source: 0000028917-17-000027 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,026

Read SEC document
January 27, 2017 Filed Jan 31, 2017 22:47 UTC
DILLARD WILLIAM T IIDirector · CEO, Chairman of Board
GrantCommon Class A 1,924 $55.71 $107,186.04
Disclosure

SEC source: 0000028917-17-000026 · edgar.xml · nonDerivative · entry 1

DILLARD WILLIAM T II · CIK 0001179684 · Director · CEO, Chairman of Board

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,082,594

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.