ORBS

SEC source: 0001493152-26-040748 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,296,485

F1 · price: The price reported is a weighted-average price. These shares were purchased on the open market in multiple transactions at prices ranging from $0.8027 to $0.8098, inclusive. The Reporting Person undertakes to provide full information regarding the number of shares purchased at each separate price within the range upon request of the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.

SEC source: 0001493152-26-028612 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,246,485

F1 · price: The price reported is a weighted-average price. These shares were purchased on the open market in multiple transactions at prices ranging from $0.9152 to $0.92, inclusive. The Reporting Person undertakes to provide full information regarding the number of shares purchased at each separate price within the range upon request of the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.

SEC source: 0001493152-26-010258 · ownership.xml · derivative · entry 1

Lee Thomas Jong · CIK 0001858492 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,000,000

Underlying: Common Stock · 4,000,000 shares

Expires 2036-03-11

F1 · derivative.exercise_date: The stock options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of Eightco Holdings Inc. (the "Company"). Each stock option shall vest in four (4) equal annual installments of 25% each, beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Company through each applicable vesting date. Each stock option shall expire on the date that is ten (10) years following the grant date.

SEC source: 0001493152-26-010312 · ownership.xml · derivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,000

Underlying: Common Stock · 50,000 shares

Expires 2036-03-11

F1 · derivative.exercise_date: The stock options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of Eightco Holdings Inc. (the "Company"). Each stock option shall vest in four (4) equal annual installments of 25% each, beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Company through each applicable vesting date. Each stock option shall expire on the date that is ten (10) years following the grant date.

SEC source: 0001493152-26-010329 · ownership.xml · derivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,250,000

Underlying: Common Stock · 2,250,000 shares

Expires 2036-03-11

F1 · derivative.exercise_date: The stock options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of Eightco Holdings Inc. (the "Company"). Each stock option shall vest in four (4) equal annual installments of 25% each, beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Company through each applicable vesting date. Each stock option shall expire on the date that is ten (10) years following the grant date.

SEC source: 0001493152-26-010284 · ownership.xml · derivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · Director · CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2036-03-11

F1 · derivative.exercise_date: The stock options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of Eightco Holdings Inc. (the "Company"). Each stock option shall vest in four (4) equal annual installments of 25% each, beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Company through each applicable vesting date. Each stock option shall expire on the date that is ten (10) years following the grant date.

SEC source: 0001493152-26-010424 · ownership.xml · derivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,000

Underlying: Common Stock · 50,000 shares

Expires 2036-03-11

F1 · derivative.exercise_date: The stock options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of Eightco Holdings Inc. (the "Company"). Each stock option shall vest in four (4) equal annual installments of 25% each, beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Company through each applicable vesting date. Each stock option shall expire on the date that is ten (10) years following the grant date.

SEC source: 0001493152-26-011243 · ownership.xml · nonDerivative · entry 1

BITMINE IMMERSION TECHNOLOGIES, INC. · CIK 0001829311 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,655,143

F1 · shares: Reflects open market purchases on the transaction date.

F2 · price: Represents the weighted average purchase price of the shares acquired. The prices of the shares purchased pursuant to the transactions ranged from $0.881 to $0.920 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares purchased at each separate price.

SEC source: 0001493152-25-029881 · ownership.xml · derivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 875,000

Underlying: Common Stock · 475,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents shares to be received upon conversion of restricted stock unit from the issuer.

F2 · derivative.expiration_date: The restricted stock unit is fully vested as of the grant date and does not expire

SEC source: 0001493152-25-029883 · ownership.xml · derivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 60,000

Underlying: Common Stock · 60,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents shares to be received upon conversion of restricted stock unit from the issuer.

F2 · derivative.expiration_date: The restricted stock unit is fully vested as of the grant date and does not expire

SEC source: 0001493152-25-029880 · ownership.xml · derivative · entry 1

Caiano Nicola Paul · CIK 0002069084 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,000

Underlying: Common Stock · 50,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents shares to be received upon conversion of restricted stock unit from the issuer.

F2 · derivative.expiration_date: The restricted stock unit is fully vested as of the grant date and does not expire

SEC source: 0001493152-26-000412 · ownership.xml · derivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,000

Underlying: Common Stock · 55,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive, upon settlement, one share of Common Stock.

F2 · derivative.expiration_date: The restricted stock unit is fully vested as of the grant date and does not expire

SEC source: 0001493152-26-000277 · ownership.xml · derivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 60,000

Underlying: Common Stock · 60,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents shares to be received upon conversion of restricted stock unit from the issuer.

F2 · derivative.expiration_date: The restricted stock unit is fully vested as of the grant date and does not expire

SEC source: 0001062993-25-015492 · form4.xml · nonDerivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 154,189

SEC source: 0001062993-25-015490 · form4.xml · nonDerivative · entry 2

Caiano Nicola Paul · CIK 0002069084 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 350,288

SEC source: 0001062993-25-015549 · form4.xml · nonDerivative · entry 2

O'Donnell Kevin J · CIK 0001776596 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 599,985

F1 · shares: The securities awarded are in the form of restricted stock units (RSUs) that each represent a contingent right to receive one share of the issuer's common stock. Subject to the reporting person's continued service through the vesting date, the RSUs will vest in full on March 8, 2026.

SEC source: 0001062993-25-015549 · form4.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 199,985

SEC source: 0001062993-25-015490 · form4.xml · nonDerivative · entry 1

Caiano Nicola Paul · CIK 0002069084 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,822

F1 · kind: Represents shares received upon conversion of accrued principal and interest owed on a promissory note from the issuer.

SEC source: 0001062993-25-000969 · form4.xml · nonDerivative · entry 1

Vassilakos Paul · CIK 0001479044 · Director · CEO and Chairman · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 313,296

F1 · shares: Such shares were issued effective January 20, 2025 pursuant to the terms of an Amendment, dated December 12, 2024, to the Membership Interest Purchase Agreement, dated September 14, 2022.

SEC source: 0001493152-24-010536 · ownership.xml · derivative · entry 2

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2029-03-17

F2 · derivative.exercise_date: The stock options fully vested on the date of grant and were issued under the Plan.

SEC source: 0001493152-24-010536 · ownership.xml · nonDerivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 129,332

F1 · shares: Represents a grant of restricted shares of common stock, par value $0.001 per share, of the Issuer. The restricted shares of common stock fully vested on the date of grant and were issued under the Issuer's 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of the Issuer to be rendered in the calendar year 2024.

SEC source: 0001493152-24-010538 · ownership.xml · derivative · entry 2

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2029-03-17

F2 · derivative.exercise_date: The stock options fully vested upon the date of grant and were issued under the Plan.

SEC source: 0001493152-24-010538 · ownership.xml · nonDerivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 128,681

F1 · shares: Represents a grant of restricted shares of common stock, par value $0.001 per share, of the Issuer. The restricted shares of common stock fully vested on the date of grant and were issued under the Issuer's 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of the Issuer to be rendered in the calendar year 2024.

SEC source: 0001493152-24-010539 · ownership.xml · derivative · entry 2

O'Donnell Kevin J · CIK 0001776596 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2029-03-17

F2 · derivative.exercise_date: The stock options fully vested on the date of grant and were issued under the Plan.

SEC source: 0001493152-24-010539 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 159,638

F1 · shares: Represents a grant of restricted shares of common stock, par value $0.001 per share, of the Issuer. The restricted shares of common stock fully vested on the date of grant and were issued under the Issuer's 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of the Issuer to be rendered in the calendar year 2024.

SEC source: 0001493152-24-010487 · ownership.xml · derivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 210,028

Underlying: Common Stock · 210,028 shares

Expires 2029-03-17

F1 · derivative.exercise_date: The stock options fully vested on the date of grant.

SEC source: 0001493152-24-010537 · ownership.xml · derivative · entry 2

Halford Mary Ann · CIK 0001899239 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2029-03-17

F2 · derivative.exercise_date: The stock options fully vested on the date of grant and were issued under the Plan.

SEC source: 0001493152-24-010537 · ownership.xml · nonDerivative · entry 1

Halford Mary Ann · CIK 0001899239 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 128,531

F1 · shares: Represents a grant of restricted shares of common stock, par value $0.001 per share, of the Issuer. The restricted shares of common stock fully vested on the date of grant and were issued under the Issuer's 2022 Long-Term Incentive Plan (the "Plan") as compensation for services on the Board of Directors of the Issuer to be rendered in the calendar year 2024.

SEC source: 0001493152-24-007839 · ownership.xml · nonDerivative · entry 2

McFadden Brian · CIK 0001567423 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By Mainspring LLC

Disclosed balance after: 60,976

F2 · ownership.nature: The reporting person is the beneficial owner of, and exerts investment control over, Mainspring LLC.

SEC source: 0001493152-24-007858 · ownership.xml · nonDerivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,832

F1 · shares: The Reporting Person received the fully-vested restricted shares of common stock pursuant to a stock grant from the Issuer, under the Issuer's 2022 Long-Term Incentive Plan as compensation for Board services rendered in the calendar year 2023.

SEC source: 0001493152-24-007839 · ownership.xml · nonDerivative · entry 1

McFadden Brian · CIK 0001567423 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 131,522

F1 · balance_after: The reporting person received the fully-vested restricted shares of common stock in consideration for the reporting person's entry into that certain General Release and Severance Agreement, dated February 26, 2024.

SEC source: 0001493152-24-007918 · ownership.xml · nonDerivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,181

F1 · shares: The Reporting Person received the fully-vested restricted shares of common stock pursuant to a stock grant from the Issuer, under the Issuer's 2022 Long-Term Incentive Plan as compensation for Board services rendered in the calendar year 2023.

SEC source: 0001493152-24-007840 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · Interim CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 117,138

F1 · shares: The Reporting Person received the fully-vested restricted shares of common stock pursuant to a stock grant from the Issuer, under the Issuer's 2022 Long-Term Incentive Plan as compensation in connection with the Reporting Person's services rendered as Executive Chairman of the Board in the calendar year 2023.

SEC source: 0001493152-24-007841 · ownership.xml · nonDerivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 118,572

F1 · shares: The Reporting Person received the fully-vested restricted shares of common stock in consideration for the Reporting Person's entry into that certain General Release and Severance Agreement, dated February 26, 2024.

SEC source: 0001493152-24-007838 · ownership.xml · nonDerivative · entry 1

Halford Mary Ann · CIK 0001899239 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,031

F1 · shares: The Reporting Person received the fully-vested restricted shares of common stock pursuant to a stock grant from the Issuer, under the Issuer's 2022 Long-Term Incentive Plan as compensation for Board services rendered in the calendar year 2023.

SEC source: 0001493152-23-045989 · ownership.xml · nonDerivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,466

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Foreman take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Mr. Foreman to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Foreman take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-23-045992 · ownership.xml · nonDerivative · entry 1

McFadden Brian · CIK 0001567423 · Director · President and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,634

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. McFadden take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Mr. McFadden to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. McFadden take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-23-045991 · ownership.xml · nonDerivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 815

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Jennings take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Mr. Jennings to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Jennings take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-23-045993 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · Chairman

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,406

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. O'Donnell take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Mr. O'Donnell to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. O'Donnell take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-23-045994 · ownership.xml · nonDerivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,839

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Vroman take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Mr. Vroman to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Mr. Vroman take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-23-045990 · ownership.xml · nonDerivative · entry 1

Halford Mary Ann · CIK 0001899239 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 665

F1 · shares: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Ms. Halford take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

F2 · shares: The shares of common stock disposed of by Ms. Halford to the Company were originally issued under the Company's 2022 Incentive Compensation Plan.

F1 · balance_after: The number of shares of common stock disposed of, as well as the number of shares beneficially owned, by Ms. Halford take into effect the Company's 1:50 reverse stock split completed on April 3, 2023.

SEC source: 0001493152-24-007876 · ownership.xml · nonDerivative · entry 1

McFadden Brian · CIK 0001567423 · Director · President and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,711

F1 · balance_after: On December 22, 2023, the reporting person filed a Form 4 which inadvertently did not include the reporting persons correct total number of securities beneficially owned.

SEC source: 0001493152-22-027961 · ownership.xml · nonDerivative · entry 1

Foreman Louis · CIK 0001753358 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 118,286

SEC source: 0001493152-22-027962 · ownership.xml · nonDerivative · entry 1

McFadden Brian · CIK 0001567423 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 281,686

SEC source: 0001493152-22-027965 · ownership.xml · nonDerivative · entry 1

Jennings Frank D · CIK 0001748662 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 85,750

SEC source: 0001493152-22-027964 · ownership.xml · nonDerivative · entry 1

O'Donnell Kevin J · CIK 0001776596 · Director · Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 250,316

SEC source: 0001493152-22-027963 · ownership.xml · nonDerivative · entry 1

Vroman Brett Earl James · CIK 0001781807 · CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 321,962

SEC source: 0001493152-22-027968 · ownership.xml · nonDerivative · entry 1

Halford Mary Ann · CIK 0001899239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,250

SEC source: 0001493152-22-018418 · ownership.xml · nonDerivative · entry 1

Vinco Ventures, Inc. · CIK 0001717556 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · kind: The transaction reported on this Form 4 relates to the distribution to the stockholders of Vinco Ventures, Inc. ("Vinco") of shares of common stock of Cryptyde, Inc. ("Tyde") held by Vinco, effective as of June 29, 2022 (the "Distribution"). To effect the Distribution, the issued and outstanding common stock of Tyde held by Vinco, consisting of 18,805,259 shares of Tyde common stock prior to the Distribution, was distributed, by means of a pro rata dividend, to the holders of record of Vinco's common stock as of May 18, 2022 (other than fractional shares, which Vinco's stockholders received in cash in lieu of the fractional shares of Tyde common stock that such stockholders would have received as a result of the application of the distribution ratio).