Reported relationships
Latest disclosed role at each company.
No relationships currently tracked through insider filings.
Disclosed balances
About these balances
Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.
No balances currently tracked through insider filings.
Past disclosures · reporting ended (1)
No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.
CONMED Corp
Report date December 31, 2022 · Filed June 05, 2023
Section 16 reporting ended · disclosed 2023-06-05. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 13,462 |
Reported balance
Holding disclosure · report date 2022-12-31 · row 1
Holding and transaction disclosures are not merged.
1 source rowRow 1 · Balance 13,462 |
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionRsus (restricted Stock Units) · Derivative | 650 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · derivative · entry 9 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,300 Underlying: Common Stock · 650 shares Expires 2024-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share of ConMed Corporation (the "Company") and will be subject to the terms and conditions of the Company's 1999 Amended and Restated Long-Term Incentive Plan, with the RSUs generally vesting over a five year period with the first 20% of the RSU's vesting one year after the grant date. Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionRsus (restricted Stock Units) · Derivative | 800 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · derivative · entry 8 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 800 Underlying: Common Stock · 800 shares Expires 2023-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share of ConMed Corporation (the "Company") and will be subject to the terms and conditions of the Company's 1999 Amended and Restated Long-Term Incentive Plan, with the RSUs generally vesting over a five year period with the first 20% of the RSU's vesting one year after the grant date. Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionRsus (restricted Stock Units) · Derivative | 800 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · derivative · entry 7 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 800 shares Expires 2022-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share of ConMed Corporation (the "Company") and will be subject to the terms and conditions of the Company's 1999 Amended and Restated Long-Term Incentive Plan, with the RSUs generally vesting over a five year period with the first 20% of the RSU's vesting one year after the grant date. Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 241 | $51.90 | $12,507.90 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 6 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 15,372 Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 650 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 5 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 15,613 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 296 | $51.90 | $15,362.40 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 4 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 14,963 Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 800 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 3 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 15,259 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 296 | $51.90 | $15,362.40 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 2 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 14,459 Read SEC document |
| June 01, 2017 Filed Jun 2, 2017 16:07 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 800 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-020201 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 14,755 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| May 15, 2017 Filed May 16, 2017 14:41 UTC | CONMED Corp CNMD · Entity 4691 | SaleCommon Stock | 500 | $51.00 | $25,500.00 |
DisclosureSEC source: 0001127602-17-018182 · form4.xml · nonDerivative · entry 2 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 13,955 Read SEC document |
| May 15, 2017 Filed May 16, 2017 14:41 UTC | CONMED Corp CNMD · Entity 4691 | SaleCommon Stock | 2,500 | $51.26 | $128,161.00 |
DisclosureSEC source: 0001127602-17-018182 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 14,455 F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.20 to $51.38. Full information regarding the number of shares sold at each separate price will be provided upon request of the commission staff, ConMed, or a ConMed security holder. Read SEC document |
| March 31, 2017 Filed Apr 4, 2017 16:45 UTC | CONMED Corp CNMD · Entity 4691 | GrantCommon Stock | 249 | $42.19 | $10,505.31 |
DisclosureSEC source: 0001127602-17-013738 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,955 Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | GrantOptions To Purchase Common Stock · Derivative | 25,000 | $0.00 Strike: $41.93 | $0.00 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · derivative · entry 7 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 25,000 Underlying: Common Stock · 25,000 shares Expires 2027-03-01 F3 · derivative.exercise_date: The incentive stock options ("ISOs") were granted under the Company's 2015 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts over a five year period Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionRsus (restricted Stock Units) · Derivative | 350 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · derivative · entry 6 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,050 Underlying: Common Stock · 350 shares Expires 2026-03-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F2 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share of ConMed Corporation (the "Company") and will be subject to the terms and conditions of the Company's 2015 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts (25%) over a four year period. Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionRsus (restricted Stock Units) · Derivative | 1,025 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · derivative · entry 5 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,050 Underlying: Common Stock · 1,025 shares Expires 2025-02-27 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock, par value $0.01 per share of ConMed Corporation (the "Company") and will be subject to the terms and conditions of the Company's 1999 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts (25%) over a four year period. Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 148 | $41.93 | $6,205.64 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · nonDerivative · entry 4 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,706 Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 350 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · nonDerivative · entry 3 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,854 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 434 | $41.93 | $18,197.62 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · nonDerivative · entry 2 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,504 Read SEC document |
| March 01, 2017 Filed Mar 3, 2017 16:13 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 1,025 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-17-009946 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,938 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| December 30, 2016 Filed Jan 5, 2017 14:46 UTC | CONMED Corp CNMD · Entity 4691 | GrantCommon Stock | 98 | $41.96 | $4,112.08 |
DisclosureSEC source: 0001127602-17-000897 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 15,913 Read SEC document |
| November 08, 2016 Filed Nov 9, 2016 14:59 UTC | CONMED Corp CNMD · Entity 4691 | GiftCommon Stock | 475 | $0.00 | $0.00 |
DisclosureSEC source: 0001127602-16-066496 · form4.xml · nonDerivative · entry 3 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 15,815 Read SEC document |
| November 08, 2016 Filed Nov 9, 2016 14:59 UTC | CONMED Corp CNMD · Entity 4691 | SaleCommon Stock | 300 | $41.79 | $12,537.30 |
DisclosureSEC source: 0001127602-16-066496 · form4.xml · nonDerivative · entry 2 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,290 Read SEC document |
| November 08, 2016 Filed Nov 9, 2016 14:59 UTC | CONMED Corp CNMD · Entity 4691 | SaleCommon Stock | 1,200 | $41.77 | $50,125.20 |
DisclosureSEC source: 0001127602-16-066496 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,590 Read SEC document |
| November 07, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | SaleCommon Stock | 2,555 | $40.40 | $103,222.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 7 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 17,790 F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.32 to $40.52. Full information regarding the number of shares sold at each separate price will be provided upon request of the commission staff, ConMed, or a ConMed security holder. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionSars (Stock Appreciation Rights) · Derivative | 4,000 | $0.00 Strike: $26.09 | $0.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · derivative · entry 10 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,000 Underlying: Common Stock · 4,000 shares Expires 2022-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F2 · derivative.exercise_date: The stock appreciation rights ("SARs") were granted under the Company's 1999 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts over a five year period. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionSars (Stock Appreciation Rights) · Derivative | 4,000 | $0.00 Strike: $27.63 | $0.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · derivative · entry 9 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 4,000 shares Expires 2021-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F2 · derivative.exercise_date: The stock appreciation rights ("SARs") were granted under the Company's 1999 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts over a five year period. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionSars (Stock Appreciation Rights) · Derivative | 2,000 | $0.00 Strike: $19.26 | $0.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · derivative · entry 8 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 2,000 shares Expires 2020-06-01 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F2 · derivative.exercise_date: The stock appreciation rights ("SARs") were granted under the Company's 1999 Amended and Restated Long-Term Incentive Plan and generally vest in equal amounts over a five year period. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 3,158 | $39.18 | $123,730.44 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 6 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 20,345 Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 4,000 | $26.09 | $104,360.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 5 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 23,503 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 3,257 | $39.18 | $127,609.26 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 4 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 19,503 Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 4,000 | $27.63 | $110,520.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 3 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 22,760 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Tax withholdingCommon Stock | 1,360 | $39.18 | $53,284.80 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 2 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 18,760 Read SEC document |
| November 03, 2016 Filed Nov 7, 2016 18:05 UTC | CONMED Corp CNMD · Entity 4691 | Exercise / conversionCommon Stock | 2,000 | $19.26 | $38,520.00 |
DisclosureSEC source: 0001127602-16-066219 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 20,120 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| September 30, 2016 Filed Oct 4, 2016 15:08 UTC | CONMED Corp CNMD · Entity 4691 | GrantCommon Stock | 116 | $38.06 | $4,414.96 |
DisclosureSEC source: 0001127602-16-063851 · form4.xml · nonDerivative · entry 1 JONAS DANIEL · CIK 0001238334 · EVP Legal Affairs,Gen. Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 18,120 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.