Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| COSTCO WHOLESALE CORP /NEWCOST · Entity 2803 | Director | October 22, 2019 | October 24, 2019 |
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.
COSTCO WHOLESALE CORP /NEW
Report date October 22, 2019 · Filed October 24, 2019
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 13,734 |
Reported balance
After 2019-10-22 transaction · row 1
1 source rowRow 1 · 2019-10-22 · Grant · Acquired 901 · Balance 13,734 F1: Grant of Restricted Stock Units. Vests one-third on October 22, 2020, and one-third annually on October 22 for the following two years. F2: Not applicable. Grant of Restricted Stock Units. |
| Common StockSEC Table I · non-derivative | IndirectTrustee - RTMT Trust | 12,000 |
Reported balance
Holding disclosure · report date 2019-10-22 · row 2
Holding and transaction disclosures are not merged.
1 source rowRow 2 · Balance 12,000 |
Filing footnotes · ownership attribution and instrument terms
F1: Grant of Restricted Stock Units. Vests one-third on October 22, 2020, and one-third annually on October 22 for the following two years.
F2: Not applicable. Grant of Restricted Stock Units.
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 29, 2007 Filed Jul 2, 2007 16:19 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 2,600 | $58.56 | $152,256.00 |
DisclosureSEC source: 0001209191-07-039673 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 129,400 Read SEC document |
| April 16, 2007 Filed Apr 18, 2007 16:20 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $54.12 | $81,180.00 |
DisclosureSEC source: 0001209191-07-024253 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 132,000 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionStock Option · Derivative | 16,000 | $14.06 Strike: $14.06 | $225,000.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · derivative · entry 10 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 16,000 shares Expires 2007-04-01 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. Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 4,000 | $53.46 | $213,840.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 8 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,500 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,100 | $53.41 | $58,751.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 7 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 8,500 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 2,900 | $53.40 | $154,860.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 6 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 9,600 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 508 | $53.47 | $27,162.76 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 5 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 12,500 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 3,492 | $53.46 | $186,682.32 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 4 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 13,008 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 100 | $53.20 | $5,320.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 3 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,500 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 3,900 | $53.19 | $207,441.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 2 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,600 Read SEC document |
| March 19, 2007 Filed Mar 20, 2007 14:57 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionCommon Stock | 16,000 | $14.06 | $225,000.00 |
DisclosureSEC source: 0001209191-07-018659 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 20,500 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 15, 2007 Filed Mar 15, 2007 22:41 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $52.46 | $78,690.00 |
DisclosureSEC source: 0001209191-07-018013 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 133,500 Read SEC document |
| February 15, 2007 Filed Feb 15, 2007 23:11 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $56.89 | $85,335.00 |
DisclosureSEC source: 0001209191-07-011180 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 135,000 Read SEC document |
| January 16, 2007 Filed Jan 17, 2007 15:26 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $55.76 | $83,640.00 |
DisclosureSEC source: 0001209191-07-003753 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 136,500 Read SEC document |
| December 15, 2006 Filed Dec 19, 2006 00:36 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $54.40 | $81,600.00 |
DisclosureSEC source: 0001209191-06-065642 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 138,000 Read SEC document |
| November 15, 2006 Filed Nov 16, 2006 00:08 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $52.40 | $78,600.00 |
DisclosureSEC source: 0001209191-06-059655 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 139,500 Read SEC document |
| October 19, 2006 Filed Oct 23, 2006 17:18 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | GrantCommon Stock | 3,000 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001209191-06-055532 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,500 F1 · shares: Units vest 33.33% at October 19 over each of the next three years. F2 · price: Not applicable. Grant of Restricted Stock Units. Read SEC document |
| October 16, 2006 Filed Oct 17, 2006 15:31 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $52.94 | $79,410.00 |
DisclosureSEC source: 0001209191-06-054919 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 141,000 Read SEC document |
| September 15, 2006 Filed Sep 18, 2006 16:16 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $50.56 | $75,840.00 |
DisclosureSEC source: 0001209191-06-050465 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 142,500 Read SEC document |
| August 15, 2006 Filed Aug 17, 2006 15:04 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $52.40 | $78,600.00 |
DisclosureSEC source: 0001209191-06-046378 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 144,000 Read SEC document |
| July 17, 2006 Filed Jul 18, 2006 22:54 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 1,500 | $53.49 | $80,235.00 |
DisclosureSEC source: 0001209191-06-041672 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 145,500 Read SEC document |
| June 15, 2006 Filed Jun 15, 2006 22:08 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 2,250 | $53.06 | $119,385.00 |
DisclosureSEC source: 0001209191-06-036830 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 147,000 Read SEC document |
| June 12, 2006 Filed Jun 12, 2006 21:37 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | GrantCommon Stock | 1,500 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001209191-06-036067 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,500 F1 · shares: Vests one-third on April 12, 2007 and one-third annually on April 12 for the following two years. F2 · price: Not applicable. Grant of Restricted Stock Units. Read SEC document |
| May 15, 2006 Filed May 18, 2006 16:15 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 750 | $54.50 | $40,875.00 |
DisclosureSEC source: 0001209191-06-030934 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Indirect · Trustee - RTMT Trust Disclosed balance after: 149,250 Read SEC document |
| March 06, 2006 Filed Mar 6, 2006 22:30 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionStock Option · Derivative | 16,000 | $9.28 Strike: $9.28 | $148,500.80 |
DisclosureSEC source: 0001209191-06-015630 · doc4.xml · derivative · entry 3 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 16,000 shares Expires 2006-04-01 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. Read SEC document |
| March 06, 2006 Filed Mar 6, 2006 22:30 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 16,000 | $53.02 | $848,320.00 |
DisclosureSEC source: 0001209191-06-015630 · doc4.xml · nonDerivative · entry 2 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Read SEC document |
| March 06, 2006 Filed Mar 6, 2006 22:30 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionCommon Stock | 16,000 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-06-015630 · doc4.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,000 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 |
| April 01, 2005 Filed Apr 4, 2005 22:28 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | GrantStock Option · Derivative | 12,000 | $0.00 Strike: $43.79 | $0.00 |
DisclosureSEC source: 0001187136-05-000003 · c0001187136d20050404f4f.xml · derivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 12,000 Underlying: Common Stock · 12,000 shares Expires 2015-04-01 F1 · kind: Granted pursuant to the 2002 Stock Incentive Plan. Read SEC document |
| January 14, 2005 Filed Jan 14, 2005 22:42 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionStock Option · Derivative | 16,000 | $0.00 Strike: $7.38 | $0.00 |
DisclosureSEC source: 0001187136-05-000002 · c0001187136d20050114f4f.xml · derivative · entry 4 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 16,000 shares Expires 2005-03-31 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 |
| January 14, 2005 Filed Jan 14, 2005 22:42 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 16,000 | $48.25 | $772,000.00 |
DisclosureSEC source: 0001187136-05-000002 · c0001187136d20050114f4f.xml · nonDerivative · entry 2 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Read SEC document |
| January 14, 2005 Filed Jan 14, 2005 22:42 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionCommon Stock | 16,000 | $7.38 | $118,000.00 |
DisclosureSEC source: 0001187136-05-000002 · c0001187136d20050114f4f.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,000 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 |
| April 15, 2004 Filed Apr 16, 2004 15:01 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionStock Option · Derivative | 45,000 | $0.00 Strike: $12.00 | $0.00 |
DisclosureSEC source: 0001187136-04-000003 · c0001187136d20040416f4f.xml · derivative · entry 4 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 45,000 shares Expires 2007-08-31 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 |
| April 15, 2004 Filed Apr 16, 2004 15:01 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 45,000 | $37.40 | $1,682,973.00 |
DisclosureSEC source: 0001187136-04-000003 · c0001187136d20040416f4f.xml · nonDerivative · entry 2 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Read SEC document |
| April 15, 2004 Filed Apr 16, 2004 15:01 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionCommon Stock | 45,000 | $12.00 | $540,000.00 |
DisclosureSEC source: 0001187136-04-000003 · c0001187136d20040416f4f.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 45,000 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 |
| April 01, 2004 Filed Apr 2, 2004 20:47 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | GrantStock Option · Derivative | 12,000 | $0.00 Strike: $37.35 | $0.00 |
DisclosureSEC source: 0001187136-04-000002 · c0001187136d20040402f4f.xml · derivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 12,000 Underlying: Common Stock · 12,000 shares Expires 2014-03-31 F1 · kind: Granted pursuant to the Non-Qualified Stock Option Agreement pursuant to the Costco Wholesale Corporation Non-Employee Director Stock Option Plan. Read SEC document |
| July 07, 2003 Filed Jul 7, 2003 22:10 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionStock Option · Derivative | 16,000 | $0.00 Strike: $9.06 | $0.00 |
DisclosureSEC source: 0001187136-03-000005 · c0001187136d20030707f4s1f.xml · derivative · entry 3 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 16,000 shares Expires 2004-03-31 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 |
| July 07, 2003 Filed Jul 7, 2003 22:10 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | SaleCommon Stock | 16,000 | $36.22 | $579,520.00 |
DisclosureSEC source: 0001187136-03-000005 · c0001187136d20030707f4s1f.xml · nonDerivative · entry 2 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Read SEC document |
| July 07, 2003 Filed Jul 7, 2003 22:10 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | Exercise / conversionCommon Stock | 16,000 | $9.06 | $145,000.00 |
DisclosureSEC source: 0001187136-03-000005 · c0001187136d20030707f4s1f.xml · nonDerivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,000 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 |
| April 01, 2003 Filed Sep 29, 2003 16:52 UTC | COSTCO WHOLESALE CORP /NEW COST · Entity 2803 | OtherStock Option · Derivative | 12,000 | $0.00 Strike: $30.41 | $0.00 |
DisclosureSEC source: 0001187136-03-000006 · c0001187136d20030929f5f.xml · derivative · entry 1 MEISENBACH JOHN W · CIK 0001187136 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 12,000 Underlying: Common Stock · 12,000 shares Expires 2013-04-01 F1 · kind: Granted pursuant to the Non-Employee Director Stock Option Plan. 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.