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MEDALLION FINANCIAL CORP

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6064
SEC CIK
0001000209
Parsed reports
235

Last 12 months

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0 purchase rows · 0 sale rows

Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.
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MonthPurchasesSales
Nov 202500
Dec 202500
Jan 202600
Feb 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
February 20, 2018 Filed Feb 22, 2018 21:29 UTC
Pickerell DeanSee Remarks
GrantCommon Stock 11,390 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005050 · doc4.xml · nonDerivative · entry 1

Pickerell Dean · CIK 0001509491 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,067

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

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February 20, 2018 Filed Feb 22, 2018 16:14 UTC
MURSTEIN ALVINDirector · See Remarks
GrantCommon Stock 22,779 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005029 · doc4.xml · nonDerivative · entry 1

MURSTEIN ALVIN · CIK 0001000210 · Director · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 150,397

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

Read SEC document
February 20, 2018 Filed Feb 22, 2018 21:27 UTC GrantCommon Stock 2,278 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005047 · doc4.xml · nonDerivative · entry 1

Silverman Marisa T. · CIK 0001637491 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,821

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

Read SEC document
February 20, 2018 Filed Feb 22, 2018 21:26 UTC GrantCommon Stock 11,390 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005046 · doc4.xml · nonDerivative · entry 1

Poulton Donald S. · CIK 0001642620 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 71,907

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

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February 20, 2018 Filed Feb 22, 2018 21:25 UTC
Munson Thomas J.See Remarks
GrantCommon Stock 3,417 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005045 · doc4.xml · nonDerivative · entry 1

Munson Thomas J. · CIK 0001698515 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,553

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

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February 20, 2018 Filed Feb 22, 2018 21:19 UTC
HALL LARRY DChief Financial Officer
GrantCommon Stock 17,084 $0.00 $0.00
Disclosure

SEC source: 0000899243-18-005038 · doc4.xml · nonDerivative · entry 1

HALL LARRY D · CIK 0001226948 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 73,653

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will vest in equal one-third increments on the first, second and third anniversaries of the date of grant.

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December 05, 2017 Filed Dec 6, 2017 13:30 UTC PurchaseCommon Stock 900 $2.72 $2,448.00
Disclosure

SEC source: 0000899243-17-028017 · doc4.xml · nonDerivative · entry 2

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,266

Read SEC document
December 04, 2017 Filed Dec 6, 2017 13:30 UTC PurchaseCommon Stock 3,442 $2.72 $9,362.24
Disclosure

SEC source: 0000899243-17-028017 · doc4.xml · nonDerivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,366

Read SEC document
November 30, 2017 Filed Mar 12, 2018 21:18 UTC PurchaseCommon Stock 2,300 $2.71 $6,233.00
Disclosure

SEC source: 0000899243-18-007153 · doc4.xml · nonDerivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,566

F1 · date: This Form 4 was filed late due to an inadvertent administrative error.

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November 29, 2017 Filed Nov 30, 2017 13:18 UTC PurchaseCommon Stock 5,005 $2.71 $13,563.55
Disclosure

SEC source: 0000899243-17-027613 · doc4.xml · nonDerivative · entry 2

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,924

Read SEC document
November 28, 2017 Filed Nov 30, 2017 13:18 UTC PurchaseCommon Stock 4,571 $2.71 $12,386.50
Disclosure

SEC source: 0000899243-17-027613 · doc4.xml · nonDerivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,919

Read SEC document
November 17, 2017 Filed Nov 21, 2017 13:54 UTC PurchaseCommon Stock 3,348 $2.64 $8,842.07
Disclosure

SEC source: 0000899243-17-027128 · doc4.xml · nonDerivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,348

Read SEC document
November 15, 2017 Filed Nov 16, 2017 13:40 UTC PurchaseCommon Stock 5,000 $2.62 $13,100.00
Disclosure

SEC source: 0000899243-17-026487 · doc4.xml · nonDerivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,000

Read SEC document
October 26, 2017 Filed Oct 30, 2017 12:36 UTC GrantCommon Stock (right to buy) · Derivative 6,333 $0.00 Strike: $2.14 $0.00
Disclosure

SEC source: 0000899243-17-024843 · doc4.xml · derivative · entry 1

TANENBAUM ALLAN J · CIK 0001208385 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,333

Underlying: Common Stock · 6,333 shares

Expires 2027-10-26

F1 · derivative.exercise_date: Pursuant to the terms of Medallion Financial Corp.'s 2015 Non-Employee Director Stock Option Plan, one-third of the options vest on the date of the 2018 annual meeting of stockholders, one-third of the options vest on the date of the 2019 annual meeting of stockholders and the balance vests on the date of the 2020 annual meeting of stockholders.

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September 13, 2017 Filed Sep 14, 2017 12:53 UTC PurchaseCommon Stock 12,500 $2.26 $28,250.00
Disclosure

SEC source: 0000899243-17-022043 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 208,853

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
July 27, 2017 Filed Jul 27, 2017 22:21 UTC
EVERETS JOHNDirector
GrantCommon Stock (right to buy) · Derivative 11,333 $0.00 Strike: $2.61 $0.00
Disclosure

SEC source: 0000899243-17-019206 · doc4.xml · derivative · entry 1

EVERETS JOHN · CIK 0001193147 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,333

Underlying: Common Stock · 11,333 shares

Expires 2027-07-27

F1 · derivative.exercise_date: Pursuant to the terms of Medallion Financial Corp.'s 2015 Non-Employee Director Stock Option Plan, one-third of the options vest on the date of the 2018 annual meeting of stockholders, one-third of the options vest on the date of the 2019 annual meeting of stockholders and the balance vests on the date of the 2020 annual meeting of stockholders.

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June 22, 2017 Filed Jun 26, 2017 12:37 UTC GrantCommon Stock (right to buy) · Derivative 12,000 $0.00 Strike: $2.22 $0.00
Disclosure

SEC source: 0000899243-17-017153 · doc4.xml · derivative · entry 1

AARON HENRY L · CIK 0001183905 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,000

Underlying: Common Stock · 12,000 shares

Expires 2027-06-22

F1 · derivative.exercise_date: Pursuant to the terms of Medallion Financial Corp.'s 2015 Non-Employee Director Stock Option Plan, one-third of the options vest on the date of the 2018 annual meeting of stockholders, one-third of the options vest on the date of the 2019 annual meeting of stockholders and the balance vests on the date of the 2020 annual meeting of stockholders.

Read SEC document
June 15, 2017 Filed Jun 19, 2017 12:48 UTC
Munson Thomas J.See Remarks
PurchaseCommon Stock 2,000 $2.40 $4,800.00
Disclosure

SEC source: 0000899243-17-016632 · doc4.xml · nonDerivative · entry 1

Munson Thomas J. · CIK 0001698515 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,347

F1 · ownership.nature: These shares are held by Charles Schwab & Co., Inc. in an Individual Retirement Account for the benefit of Thomas J. Munson.

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June 12, 2017 Filed Jun 14, 2017 12:51 UTC PurchaseCommon Stock 1,551 $2.50 $3,877.50
Disclosure

SEC source: 0000899243-17-016339 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 196,353

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
June 09, 2017 Filed Jun 13, 2017 12:53 UTC PurchaseCommon Stock 13,049 $2.50 $32,622.50
Disclosure

SEC source: 0000899243-17-016151 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 194,802

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
June 08, 2017 Filed Jun 9, 2017 12:40 UTC PurchaseCommon Stock 20,700 $2.49 $51,543.00
Disclosure

SEC source: 0000899243-17-015855 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 181,753

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
June 07, 2017 Filed Jun 8, 2017 12:52 UTC PurchaseCommon Stock 4,700 $2.50 $11,739.19
Disclosure

SEC source: 0000899243-17-015768 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 161,053

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
June 06, 2017 Filed Jun 7, 2017 13:27 UTC PurchaseCommon Stock 60,000 $2.48 $148,590.00
Disclosure

SEC source: 0000899243-17-015590 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 156,353

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
May 24, 2017 Filed May 25, 2017 17:55 UTC
MURSTEIN ALVINDirector · Chairman & CEO
Purchase9.000% Notes due 2021 27,500 $23,925.00 $657,937,500.00
Disclosure

SEC source: 0000899243-17-014373 · doc4.xml · nonDerivative · entry 1

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: Not disclosed

F1 · shares: Represents 1,100 notes ($25 face amount per note) purchased by the Alvin Murstein Second Family Trust at $21.75 per note.

F2 · ownership.nature: Represents notes beneficially owned by the Alvin Murstein Second Family Trust of which Mr. Murstein is a co-trustee and the beneficiary.

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May 17, 2017 Filed May 18, 2017 13:18 UTC PurchaseCommon Stock 61,800 $2.18 $134,724.00
Disclosure

SEC source: 0000899243-17-013627 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 96,353

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
April 19, 2017 Filed Apr 21, 2017 16:06 UTC
MURSTEIN ALVINDirector · Chairman & CEO
GrantCommon Stock 48,544 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-010710 · doc4.xml · nonDerivative · entry 1

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,618

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will fully vest on January 2, 2018.

Read SEC document
April 19, 2017 Filed Apr 21, 2017 20:12 UTC
MURSTEIN ANDREWDirector · President
GrantCommon Stock 97,087 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-010715 · doc4.xml · nonDerivative · entry 1

MURSTEIN ANDREW · CIK 0001033265 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 334,422

F1 · acquired: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will fully vest on January 2, 2018.

Read SEC document
March 16, 2017 Filed Mar 20, 2017 12:48 UTC PurchaseCommon Stock 2,663 $2.04 $5,432.52
Disclosure

SEC source: 0000899243-17-008175 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 34,553

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
March 16, 2017 Filed Mar 20, 2017 12:41 UTC
MURSTEIN ANDREWDirector · President
PurchaseCommon Stock 5,000 $2.13 $10,671.50
Disclosure

SEC source: 0000899243-17-008173 · doc4.xml · nonDerivative · entry 1

MURSTEIN ANDREW · CIK 0001033265 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 237,335

Read SEC document
March 10, 2017 Filed Mar 16, 2017 22:06 UTC PurchaseCommon Stock 23,890 $1.96 $46,824.40
Disclosure

SEC source: 0000899243-17-007809 · doc4.xml · nonDerivative · entry 1

RUDNICK DAVID L · CIK 0001228452 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 31,890

F1 · ownership.nature: These shares are held by Merrill Lynch in a Roth Individual Retirement Account for the benefit of Mr. Rudnick.

Read SEC document
February 15, 2017 Filed Feb 17, 2017 13:49 UTC GrantCommon Stock 23,364 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-004429 · doc4.xml · nonDerivative · entry 1

Poulton Donald S. · CIK 0001642620 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,517

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will fully vest on the anniversary of the date of grant.

Read SEC document
February 15, 2017 Filed Feb 17, 2017 13:51 UTC GrantCommon Stock 4,673 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-004431 · doc4.xml · nonDerivative · entry 1

Silverman Marisa T. · CIK 0001637491 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,543

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will fully vest on the anniversary of the date of grant.

Read SEC document
February 15, 2017 Filed Feb 17, 2017 13:46 UTC
HALL LARRY DChief Financial Officer
GrantCommon Stock 35,047 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-004427 · doc4.xml · nonDerivative · entry 1

HALL LARRY D · CIK 0001226948 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,569

F1 · shares: Represents restricted shares of common stock awarded under the Medallion Financial Corp. 2015 Employee Restricted Stock Plan which will fully vest on the anniversary of the date of grant.

Read SEC document
December 15, 2016 Filed Dec 16, 2016 21:52 UTC
MURSTEIN ANDREWDirector · President
PurchaseCommon Stock 7,000 $3.57 $25,019.40
Disclosure

SEC source: 0000899243-16-035785 · doc4.xml · nonDerivative · entry 1

MURSTEIN ANDREW · CIK 0001033265 · Director · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 232,335

Read SEC document
December 15, 2016 Filed Dec 16, 2016 21:39 UTC
HALL LARRY DChief Financial Officer
SaleCommon Stock 10,992 $3.58 $39,317.28
Disclosure

SEC source: 0000899243-16-035779 · doc4.xml · nonDerivative · entry 1

HALL LARRY D · CIK 0001226948 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,522

Read SEC document
December 09, 2016 Filed Dec 12, 2016 16:39 UTC
MURSTEIN ALVINDirector · Chairman & CEO
PurchaseCommon Stock 40,000 $3.70 $147,924.00
Disclosure

SEC source: 0000899243-16-035304 · doc4.xml · nonDerivative · entry 4

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 1,268,182

F2 · ownership.nature: Represents shares beneficially owned by the Alvin Murstein Second Family Trust registered in the name of Morgan Stanley of which Mr. Murstein is a co-trustee and the beneficiary.

Read SEC document
December 09, 2016 Filed Dec 12, 2016 16:39 UTC
MURSTEIN ALVINDirector · Chairman & CEO
SaleCommon Stock 40,000 $3.66 $146,464.00
Disclosure

SEC source: 0000899243-16-035304 · doc4.xml · nonDerivative · entry 3

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 79,074

F1 · ownership.direct: For tax planning purposes, Mr. Murstein sold these shares that he held directly and purchased the equivalent amount of shares through a family trust, as described in Note (2) below. In accordance with Section 16(b) of the Securities Exchange Act of 1934, as amended, Mr. Murstein has disgorged to Medallion Financial Corp. short-swing profits from such transaction in the amount of $2,512.00.

Read SEC document
December 08, 2016 Filed Dec 12, 2016 16:39 UTC
MURSTEIN ALVINDirector · Chairman & CEO
PurchaseCommon Stock 60,000 $3.60 $215,928.00
Disclosure

SEC source: 0000899243-16-035304 · doc4.xml · nonDerivative · entry 2

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 1,228,182

F2 · ownership.nature: Represents shares beneficially owned by the Alvin Murstein Second Family Trust registered in the name of Morgan Stanley of which Mr. Murstein is a co-trustee and the beneficiary.

Read SEC document
December 08, 2016 Filed Dec 12, 2016 16:39 UTC
MURSTEIN ALVINDirector · Chairman & CEO
SaleCommon Stock 60,000 $3.58 $214,812.00
Disclosure

SEC source: 0000899243-16-035304 · doc4.xml · nonDerivative · entry 1

MURSTEIN ALVIN · CIK 0001000210 · Director · Chairman & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 119,074

F1 · ownership.direct: For tax planning purposes, Mr. Murstein sold these shares that he held directly and purchased the equivalent amount of shares through a family trust, as described in Note (2) below. In accordance with Section 16(b) of the Securities Exchange Act of 1934, as amended, Mr. Murstein has disgorged to Medallion Financial Corp. short-swing profits from such transaction in the amount of $2,512.00.

Read SEC document
September 09, 2016 Filed Sep 13, 2016 20:11 UTC PurchaseCommon Stock 600 $3.54 $2,124.24
Disclosure

SEC source: 0000899243-16-028866 · doc4.xml · nonDerivative · entry 2

WEICKER LOWELL P JR · CIK 0001185920 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,000

Read SEC document
August 25, 2016 Filed Sep 13, 2016 20:11 UTC PurchaseCommon Stock 300 $4.84 $1,452.00
Disclosure

SEC source: 0000899243-16-028866 · doc4.xml · nonDerivative · entry 1

WEICKER LOWELL P JR · CIK 0001185920 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 400

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.