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Nasdaq · USD

LPTH

LIGHTPATH TECHNOLOGIES INC

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Tapewire entity
5340
SEC CIK
0000889971
Parsed reports
211

Last 12 months

Inside the activity.

1 purchase rows · 18 sale rows

Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.
Monthly counts
MonthPurchasesSales
Nov 202500
Dec 202500
Jan 202601
Feb 202605
Mar 202617
Apr 202600
May 202604
Jun 202601
Jul 202600
Aug 202600
Sep 202600
Oct 202600

Latest available

Insider transactions

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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
October 26, 2017 Filed Oct 27, 2017 19:19 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
GrantRestricted stock unit · Derivative 25,354 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009760 · section16.xml · derivative · entry 1

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,354

Underlying: Class A common stock · 25,354 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock. The Restricted stock unit was granted to the reporting person in satisification of certain performance criteria being met for the fiscal year ended June 30, 2017.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 18:37 UTC GrantRestricted stock unit · Derivative 16,260 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009754 · section16.xml · derivative · entry 1

LEEBURG LOUIS · CIK 0001051202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,260

Underlying: Class A common stock · 16,260 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 18:30 UTC GrantRestricted stock unit · Derivative 16,260 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009752 · section16.xml · derivative · entry 1

KHAN SOHAIL A · CIK 0001222714 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,260

Underlying: Class A common stock · 16,260 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 18:21 UTC GrantRestricted stock unit · Derivative 16,260 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009750 · section16.xml · derivative · entry 1

Faris M. Scott · CIK 0001538763 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,260

Underlying: Class A common stock · 16,260 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 17:51 UTC GrantRestricted stock unit · Derivative 16,260 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009746 · section16.xml · derivative · entry 1

Dunham Craig T · CIK 0001305499 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,260

Underlying: Class A common stock · 16,260 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.exercise_price: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 18:10 UTC GrantRestricted stock unit · Derivative 16,260 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001654954-17-009748 · section16.xml · derivative · entry 1

BRUECK STEVEN R J · CIK 0001145963 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,260

Underlying: Class A common stock · 16,260 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 26, 2018. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
July 07, 2017 Filed Jul 7, 2017 18:26 UTC
Symmons AlanExecutive VP- Operations
GrantClass A Common Stock 433 $2.43 $1,052.19
Disclosure

SEC source: 0001654954-17-006249 · section16.xml · nonDerivative · entry 1

Symmons Alan · CIK 0001504906 · Executive VP- Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,725

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
July 07, 2017 Filed Jul 7, 2017 18:10 UTC GrantClass A Common Stock 396 $2.43 $962.28
Disclosure

SEC source: 0001654954-17-006245 · section16.xml · nonDerivative · entry 1

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,884

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
July 07, 2017 Filed Jul 7, 2017 18:18 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
GrantClass A Common Stock 1,191 $2.43 $2,894.13
Disclosure

SEC source: 0001654954-17-006247 · section16.xml · nonDerivative · entry 1

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 87,709

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
January 06, 2017 Filed Jan 6, 2017 21:14 UTC PurchaseCommon Stock 710 $1.39 $986.90
Disclosure

SEC source: 0001354488-17-000053 · issuerdirect_section16.xml · nonDerivative · entry 1

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,488

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
January 06, 2017 Filed Jan 6, 2017 21:14 UTC PurchaseCommon Stock 710 $1.39 $986.90
Disclosure

SEC source: 0001354488-17-000052 · issuerdirect_section16.xml · nonDerivative · entry 1

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,488

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
January 06, 2017 Filed Jan 6, 2017 21:09 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
PurchaseCommon Stock 2,014 $1.39 $2,799.46
Disclosure

SEC source: 0001354488-17-000050 · issuerdirect_section16.xml · nonDerivative · entry 1

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 86,518

F1 · shares: These shares were purchased from the Employee Stock Purchase Plan.

Read SEC document
January 06, 2017 Filed Jan 6, 2017 21:02 UTC
Symmons AlanExecutive VP- Operations
PurchaseCommon Stock 719 $1.39 $999.41
Disclosure

SEC source: 0001354488-17-000047 · issuerdirect_section16.xml · nonDerivative · entry 1

Symmons Alan · CIK 0001504906 · Executive VP- Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,292

F1 · shares: These shares were purchased under the Employee Stock Purchase Plan.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:20 UTC
RIPP ROBERTDirector
PurchaseCommon Stock 82,644 $1.21 $99,999.24
Disclosure

SEC source: 0001354488-16-008694 · issuerdirect_section16.xml · nonDerivative · entry 1

RIPP ROBERT · CIK 0001059475 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 693,751

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 20:42 UTC PurchaseCommon Stock 33,000 $1.21 $39,930.00
Disclosure

SEC source: 0001354488-16-008704 · issuerdirect_section16.xml · nonDerivative · entry 1

Dunham Craig T · CIK 0001305499 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,000

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:32 UTC PurchaseCommon Stock 24,793 $1.21 $29,999.53
Disclosure

SEC source: 0001354488-16-008700 · issuerdirect_section16.xml · nonDerivative · entry 1

BRUECK STEVEN R J · CIK 0001145963 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 70,870

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 20:38 UTC PurchaseCommon Stock 20,661 $1.21 $24,999.81
Disclosure

SEC source: 0001354488-16-008702 · issuerdirect_section16.xml · nonDerivative · entry 1

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,778

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:27 UTC PurchaseCommon Stock 20,661 $1.21 $24,999.81
Disclosure

SEC source: 0001354488-16-008698 · issuerdirect_section16.xml · nonDerivative · entry 1

KHAN SOHAIL A · CIK 0001222714 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,661

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:25 UTC PurchaseCommon Stock 24,793 $1.21 $29,999.53
Disclosure

SEC source: 0001354488-16-008696 · issuerdirect_section16.xml · nonDerivative · entry 1

LEEBURG LOUIS · CIK 0001051202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 92,691

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:12 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
PurchaseCommon Stock 33,000 $1.21 $39,930.00
Disclosure

SEC source: 0001354488-16-008692 · issuerdirect_section16.xml · nonDerivative · entry 1

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 84,504

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
December 21, 2016 Filed Dec 21, 2016 19:07 UTC
Symmons AlanExecutive VP- Operations
PurchaseCommon Stock 8,333 $1.21 $10,082.93
Disclosure

SEC source: 0001354488-16-008689 · issuerdirect_section16.xml · nonDerivative · entry 1

Symmons Alan · CIK 0001504906 · Executive VP- Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,573

F1 · shares: These shares of Class A common stock were purchased in connection with our public offering on December 21, 2016 at a public offering price of $1.21 per share.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:11 UTC
RIPP ROBERTDirector
GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008430 · issuerdirect_section16.xml · derivative · entry 1

RIPP ROBERT · CIK 0001059475 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will immediately vest upon the director leaving the board.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 19:02 UTC GrantIncentive stock option · Derivative 20,652 $0.00 Strike: $1.78 $0.00
Disclosure

SEC source: 0001354488-16-008447 · issuerdirect_section16.xml · derivative · entry 2

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,652

Underlying: Class A common stock · 20,652 shares

Expires 2026-10-27

F2 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option vests in four equal installments beginning on October 27, 2017.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 19:02 UTC GrantIncentive stock option · Derivative 39,733 $0.00 Strike: $1.55 $0.00
Disclosure

SEC source: 0001354488-16-008447 · issuerdirect_section16.xml · derivative · entry 1

CIPOLLA DOROTHY M · CIK 0001284552 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,733

Underlying: Class A common stock · 39,733 shares

Expires 2026-10-27

F1 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option became exercisable with respect to all shares underlying the option on October 27, 2016, the grant date.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 18:54 UTC
Symmons AlanExecutive VP- Operations
GrantIncentive stock option · Derivative 21,739 $0.00 Strike: $1.78 $0.00
Disclosure

SEC source: 0001354488-16-008445 · issuerdirect_section16.xml · derivative · entry 2

Symmons Alan · CIK 0001504906 · Executive VP- Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,739

Underlying: Class A common stock · 21,739 shares

Expires 2026-10-27

F2 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option vests in four equal installments beginning on October 27, 2017.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 18:54 UTC
Symmons AlanExecutive VP- Operations
GrantIncentive stock option · Derivative 41,824 $0.00 Strike: $1.55 $0.00
Disclosure

SEC source: 0001354488-16-008445 · issuerdirect_section16.xml · derivative · entry 1

Symmons Alan · CIK 0001504906 · Executive VP- Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,824

Underlying: Class A common stock · 41,824 shares

Expires 2026-10-27

F1 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option became exercisable with respect to all shares underlying the option on October 27, 2016, the grant date.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 18:37 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
GrantIncentive stock option · Derivative 60,870 $0.00 Strike: $1.78 $0.00
Disclosure

SEC source: 0001354488-16-008443 · issuerdirect_section16.xml · derivative · entry 2

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,870

Underlying: Class A common stock · 60,870 shares

Expires 2026-10-27

F2 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option vests in four equal installments beginning on October 27, 2017.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 18:37 UTC
GAYNOR JOSEPH J JRDirector · President and CEO
GrantIncentive stock option · Derivative 117,108 $0.00 Strike: $1.55 $0.00
Disclosure

SEC source: 0001354488-16-008443 · issuerdirect_section16.xml · derivative · entry 1

GAYNOR JOSEPH J JR · CIK 0001199402 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 117,108

Underlying: Class A common stock · 117,108 shares

Expires 2026-10-27

F1 · derivative.exercise_date: The Incentive Stock Option was granted to the reporting person in satisfaction of certain performance criteria being met for the fiscal year ended June 30, 2016. The incentive stock option became exercisable with respect to all shares underlying the option on October 27, 2016, the grant date.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:44 UTC GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008440 · issuerdirect_section16.xml · derivative · entry 1

Dunham Craig T · CIK 0001305499 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:30 UTC GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008436 · issuerdirect_section16.xml · derivative · entry 1

Faris M. Scott · CIK 0001538763 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:40 UTC GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008438 · issuerdirect_section16.xml · derivative · entry 1

BRUECK STEVEN R J · CIK 0001145963 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:26 UTC GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008434 · issuerdirect_section16.xml · derivative · entry 1

KHAN SOHAIL A · CIK 0001222714 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

Read SEC document
October 27, 2016 Filed Nov 2, 2016 17:19 UTC GrantRestricted stock unit · Derivative 38,462 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001354488-16-008432 · issuerdirect_section16.xml · derivative · entry 1

LEEBURG LOUIS · CIK 0001051202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,462

Underlying: Class A common stock · 38,462 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

F2 · derivative.expiration_date: The restricted stock units vest equally over a three year period beginning on October 27, 2017. All directors have elected to defer receipt of the shares until they are no longer on the board. Any unvested restricted stock units will vest immediately upon the director leaving the board.

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.