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GLICKMAN DONALD

Disclosed activity across 2 companies

Tapewire entity
124450
SEC CIK
0000901114

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
MONRO, INC.MNRO · Entity 5682DirectorAugust 16, 2022August 18, 2022

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.

MONRO, INC.

Report date August 16, 2022 · Filed August 18, 2022

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Restricted Stock AwardsSEC Table I · non-derivativeDirect177,740 Reported balance After 2022-08-16 transaction · row 2
1 source row

Row 2 · 2022-08-16 · Grant · Acquired 2,426 · Balance 177,740

Common StockSEC Table I · non-derivativeDirect175,314 Reported balance Holding disclosure · report date 2022-08-16 · row 1 Holding and transaction disclosures are not merged.
1 source row

Row 1 · Balance 175,314

Past disclosures · reporting ended (1)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

NRC GROUP HOLDINGS CORP.

Report date November 01, 2019 · Filed November 01, 2019

Section 16 reporting ended · disclosed 2019-11-01. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Non-Qualified Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $10.25 · Expires 2029-04-05Direct0 Reported balance After 2019-11-01 transaction · row 1 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 1 · 2019-11-01 · Disposition to issuer · Acquired 25,000 · Balance 0

F1: Pursuant to the merger agreement between NRC Group Holdings Corp. (the "Issuer"), US Ecology, Inc., US Ecology Parent, Inc. ("Holdco"), Rooster Merger Sub, Inc. and ECOL Merger Sub, Inc. (the "Merger Agreement"), this option, which provided for vesting in three substantially equal annual installments beginning October 17, 2019, was assumed by Holdco and replaced with an option to purchase 4,900 shares of Holdco common stock at an exercise price of $52.30 per share in accordance with the terms of the Merger Agreement. This option was subject to accelerated vesting and became immediately vested and exercisable upon completion of the merger transactions.

Filing footnotes · ownership attribution and instrument terms

F1: Pursuant to the merger agreement between NRC Group Holdings Corp. (the "Issuer"), US Ecology, Inc., US Ecology Parent, Inc. ("Holdco"), Rooster Merger Sub, Inc. and ECOL Merger Sub, Inc. (the "Merger Agreement"), this option, which provided for vesting in three substantially equal annual installments beginning October 17, 2019, was assumed by Holdco and replaced with an option to purchase 4,900 shares of Holdco common stock at an exercise price of $52.30 per share in accordance with the terms of the Merger Agreement. This option was subject to accelerated vesting and became immediately vested and exercisable upon completion of the merger transactions.

Transaction history

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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 dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
August 16, 2022 Filed Aug 18, 2022 17:50 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Awards 2,426 $0.00 $0.00
Disclosure

SEC source: 0001209191-22-046558 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 177,740

Read SEC document
August 17, 2021 Filed Aug 19, 2021 11:36 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Award 2,351 $0.00 $0.00
Disclosure

SEC source: 0001209191-21-052450 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 177,665

Read SEC document
August 06, 2021 Filed Aug 10, 2021 20:20 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversion(Options Right to Buy) · Derivative 10,000 $57.78 Strike: $57.78 $577,800.00
Disclosure

SEC source: 0001209191-21-050605 · doc4.xml · derivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2021-08-08

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
August 06, 2021 Filed Aug 10, 2021 20:20 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionCommon Stock 10,000 $57.78 $577,800.00
Disclosure

SEC source: 0001209191-21-050605 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 175,314

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
February 23, 2021 Filed Mar 18, 2021 14:29 UTC MONRO, INC. MNRO · Entity 5682 GiftCommon Stock 10,000 $0.00 $0.00
Disclosure

SEC source: 0001209191-21-021677 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 165,314

F1 · shares: The reported transaction was a gift from Mr. Glickman to trusts for the benefit of his grandchildren for estate planning purposes and the trusts paid no consideration in return for the transfer of the common stock.

Read SEC document
August 18, 2020 Filed Aug 20, 2020 15:29 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Awards 2,575 $0.00 $0.00
Disclosure

SEC source: 0001209191-20-047680 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 175,314

Read SEC document
November 01, 2019 Filed Nov 1, 2019 12:04 UTC NRC GROUP HOLDINGS CORP. NRCG · Entity 154032 Disposition to issuerNon-Qualified Stock Option (Right to Buy) · Derivative 25,000 Not disclosed Strike: $10.25 Not disclosed
Disclosure

SEC source: 0001213900-19-021771 · ownership.xml · derivative · entry 1

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 25,000 shares

Expires 2029-04-05

F1 · shares: Pursuant to the merger agreement between NRC Group Holdings Corp. (the "Issuer"), US Ecology, Inc., US Ecology Parent, Inc. ("Holdco"), Rooster Merger Sub, Inc. and ECOL Merger Sub, Inc. (the "Merger Agreement"), this option, which provided for vesting in three substantially equal annual installments beginning October 17, 2019, was assumed by Holdco and replaced with an option to purchase 4,900 shares of Holdco common stock at an exercise price of $52.30 per share in accordance with the terms of the Merger Agreement. This option was subject to accelerated vesting and became immediately vested and exercisable upon completion of the merger transactions.

F1 · price: Pursuant to the merger agreement between NRC Group Holdings Corp. (the "Issuer"), US Ecology, Inc., US Ecology Parent, Inc. ("Holdco"), Rooster Merger Sub, Inc. and ECOL Merger Sub, Inc. (the "Merger Agreement"), this option, which provided for vesting in three substantially equal annual installments beginning October 17, 2019, was assumed by Holdco and replaced with an option to purchase 4,900 shares of Holdco common stock at an exercise price of $52.30 per share in accordance with the terms of the Merger Agreement. This option was subject to accelerated vesting and became immediately vested and exercisable upon completion of the merger transactions.

F1 · derivative.exercise_date: Pursuant to the merger agreement between NRC Group Holdings Corp. (the "Issuer"), US Ecology, Inc., US Ecology Parent, Inc. ("Holdco"), Rooster Merger Sub, Inc. and ECOL Merger Sub, Inc. (the "Merger Agreement"), this option, which provided for vesting in three substantially equal annual installments beginning October 17, 2019, was assumed by Holdco and replaced with an option to purchase 4,900 shares of Holdco common stock at an exercise price of $52.30 per share in accordance with the terms of the Merger Agreement. This option was subject to accelerated vesting and became immediately vested and exercisable upon completion of the merger transactions.

Read SEC document
August 13, 2019 Filed Aug 15, 2019 16:15 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Awards 1,661 $0.00 $0.00
Disclosure

SEC source: 0001209191-19-046049 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 172,739

Read SEC document
August 06, 2019 Filed Aug 8, 2019 12:29 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,500 $86.14 $215,337.75
Disclosure

SEC source: 0001209191-19-045051 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 171,078

F1 · price: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.00 to $86.37, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold.

Read SEC document
August 01, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 1,500 $85.53 $128,295.00
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 7

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 173,578

F6 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $85.25 to $85.75, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
July 31, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 200 $86.07 $17,214.00
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 6

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 175,078

F5 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $85.97 to $86.175, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
July 31, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 1,615 $85.52 $138,114.80
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 5

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 175,278

F4 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $84.82 to $85.78, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
July 31, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 1,185 $84.46 $100,085.10
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 4

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 176,893

F3 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $83.79 to $84.72, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
July 30, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 147 $85.78 $12,609.66
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 178,078

F2 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $85.78 to $85.79, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
July 30, 2019 Filed Aug 1, 2019 19:05 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,853 $85.14 $242,904.42
Disclosure

SEC source: 0001209191-19-043971 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 178,225

F1 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $84.75 to $85.47, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold.

Read SEC document
April 05, 2019 Filed Apr 9, 2019 16:34 UTC NRC GROUP HOLDINGS CORP. NRCG · Entity 154032 GrantNon-Qualified Stock Option (Right to Buy) · Derivative 25,000 $0.00 Strike: $10.25 $0.00
Disclosure

SEC source: 0001213900-19-006050 · ownership.xml · derivative · entry 1

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires 2029-04-05

F1 · derivative.exercise_date: The option generally vests in three substantially equal installments on each of the first three anniversaries of October 17, 2018, subject to the Reporting Person's continued service through each such date.

Read SEC document
February 25, 2019 Filed Feb 26, 2019 17:34 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionOptions (Right to Buy) · Derivative 10,000 $0.00 Strike: $51.51 $0.00
Disclosure

SEC source: 0001209191-19-013350 · doc4.xml · derivative · entry 5

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2019-08-05

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
February 25, 2019 Filed Feb 26, 2019 17:34 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 218 $78.58 $17,129.72
Disclosure

SEC source: 0001209191-19-013350 · doc4.xml · nonDerivative · entry 4

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,078

F2 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $78.54 to $78.58, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
February 25, 2019 Filed Feb 26, 2019 17:34 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 9,782 $78.15 $764,477.97
Disclosure

SEC source: 0001209191-19-013350 · doc4.xml · nonDerivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,296

F1 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $77.51 to $78.49, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold.

Read SEC document
February 25, 2019 Filed Feb 26, 2019 17:34 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionCommon Stock 10,000 $51.51 $515,100.00
Disclosure

SEC source: 0001209191-19-013350 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 191,078

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
August 14, 2018 Filed Aug 16, 2018 18:09 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Award 1,828 $0.00 $0.00
Disclosure

SEC source: 0001209191-18-046970 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,078

Read SEC document
August 07, 2018 Filed Aug 7, 2018 21:25 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,500 $70.77 $176,912.50
Disclosure

SEC source: 0001209191-18-045717 · doc4.xml · nonDerivative · entry 5

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 179,250

F3 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $70.30 to $71.05, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
August 06, 2018 Filed Aug 7, 2018 21:25 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,500 $70.06 $175,145.00
Disclosure

SEC source: 0001209191-18-045717 · doc4.xml · nonDerivative · entry 4

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,750

F2 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $69.55 to $70.25, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold.

Read SEC document
August 02, 2018 Filed Aug 7, 2018 21:25 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,500 $69.50 $173,750.00
Disclosure

SEC source: 0001209191-18-045717 · doc4.xml · nonDerivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 184,250

Read SEC document
August 02, 2018 Filed Aug 7, 2018 21:25 UTC MONRO, INC. MNRO · Entity 5682 SaleCommon Stock 2,500 $68.32 $170,805.00
Disclosure

SEC source: 0001209191-18-045717 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 186,750

F1 · price: The price reported is a weighted average price. these shares were sold in multiple transactions at prices ranging from $68.25 to $68.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold.

Read SEC document
July 30, 2018 Filed Aug 1, 2018 19:44 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionOptions (Right to Buy) · Derivative 10,000 $0.00 Strike: $44.46 $0.00
Disclosure

SEC source: 0001209191-18-044696 · doc4.xml · derivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2018-08-06

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 30, 2018 Filed Aug 1, 2018 19:44 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionCommon Stock 10,000 $44.46 $444,600.00
Disclosure

SEC source: 0001209191-18-044696 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 189,250

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
August 15, 2017 Filed Aug 16, 2017 18:26 UTC MONRO, INC. MNRO · Entity 5682 GrantRestricted Stock Awards 2,895 $0.00 $0.00
Disclosure

SEC source: 0000899243-17-020452 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 179,250

Read SEC document
July 26, 2017 Filed Jul 28, 2017 19:46 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionOptions (Right to Buy) · Derivative 10,000 $35.18 Strike: $35.18 $351,800.00
Disclosure

SEC source: 0000899243-17-019279 · doc4.xml · derivative · entry 3

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2017-08-06

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 26, 2017 Filed Jul 28, 2017 19:46 UTC MONRO, INC. MNRO · Entity 5682 Exercise / conversionCommon Stock 10,000 $35.18 $351,800.00
Disclosure

SEC source: 0000899243-17-019279 · doc4.xml · nonDerivative · entry 2

GLICKMAN DONALD · CIK 0000901114 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 176,355

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

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.