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McGuinness Thomas P

Disclosed activity across 1 company

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127478
SEC CIK
0001435320

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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.

InvenTrust Properties Corp.

Report date May 05, 2022 · Filed May 09, 2022

Section 16 reporting ended · disclosed 2022-05-09. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect200,176 Reported balance After 2022-05-05 transaction · row 1
1 source row

Row 1 · 2022-05-05 · Exercise / conversion · Acquired 18,883 · Balance 200,176

Restricted Stock UnitsSEC Table II · derivative / convertible securityDirect33,806 Reported balance After 2022-05-05 transaction · row 2 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 2 · 2022-05-05 · Exercise / conversion · Disposed 33,806 · Balance 33,806

F1: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Filing footnotes · ownership attribution and instrument terms

F1: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

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
May 05, 2022 Filed May 9, 2022 17:03 UTC InvenTrust Properties Corp. IVT · Entity 4341 Exercise / conversionRestricted Stock Units · Derivative 33,806 $0.00 $0.00
Disclosure

SEC source: 0001307748-22-000070 · wf-form4_165213016357580.xml · derivative · entry 2

McGuinness Thomas P · CIK 0001435320 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,806

Underlying: Common Stock · 33,806 shares

Expires not disclosed

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_price: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F1 · derivative.exercise_date: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F1 · derivative.expiration_date: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
May 05, 2022 Filed May 9, 2022 17:03 UTC InvenTrust Properties Corp. IVT · Entity 4341 Exercise / conversionCommon Stock 18,883 $0.00 $0.00
Disclosure

SEC source: 0001307748-22-000070 · wf-form4_165213016357580.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 200,176

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 11, 2022 Filed Mar 15, 2022 17:13 UTC InvenTrust Properties Corp. IVT · Entity 4341 GrantCommon Stock 18,976 $0.00 $0.00
Disclosure

SEC source: 0001307748-22-000048 · wf-form4_164737880603175.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 181,293

F1 · shares: The amount represents shares acquired based upon the Issuer's performance against certain strategic objective goals resulting in the vesting of performance-based restricted stock units previously granted.

Read SEC document
December 31, 2021 Filed Jan 4, 2022 16:35 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionRestricted Stock Units · Derivative 45,633 $27.45 $1,252,625.85
Disclosure

SEC source: 0001307748-22-000005 · wf-form4_164133210205960.xml · derivative · entry 2

McGuinness Thomas P · CIK 0001435320 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,806

Underlying: Common Stock · 45,633 shares

Expires not disclosed

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_price: The number of shares exercised includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

F2 · derivative.exercise_date: The number of shares exercised includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

F2 · derivative.expiration_date: The number of shares exercised includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

F1 · balance_after: On August 5, 2021, the Issuer effected a 1-for-10 reverse stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split.

Read SEC document
December 31, 2021 Filed Jan 4, 2022 16:35 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionCommon Stock 25,448 $27.45 $698,547.60
Disclosure

SEC source: 0001307748-22-000005 · wf-form4_164133210205960.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 162,317

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 · balance_after: On August 5, 2021, the Issuer effected a 1-for-10 reverse stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split.

Read SEC document
February 18, 2021 Filed Feb 19, 2021 17:10 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantRestricted Stock Units · Derivative 432,526 $0.00 $0.00
Disclosure

SEC source: 0001307748-21-000032 · wf-form4_161377258072559.xml · derivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 794,387

Underlying: Common Stock · 432,526 shares

Expires not disclosed

F1 · derivative.exercise_price: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Fifty percent (50%) of these units will vest on December 31, 2021 and the remaining fifty percent (50%) of these units will vest on May 6, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.exercise_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Fifty percent (50%) of these units will vest on December 31, 2021 and the remaining fifty percent (50%) of these units will vest on May 6, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.expiration_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Fifty percent (50%) of these units will vest on December 31, 2021 and the remaining fifty percent (50%) of these units will vest on May 6, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

Read SEC document
December 31, 2020 Filed Jan 4, 2021 17:00 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionRestricted Stock Units · Derivative 425,955 $2.89 $1,231,009.95
Disclosure

SEC source: 0001307748-21-000005 · wf-form4_160979763737252.xml · derivative · entry 2

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 361,861

Underlying: Common Stock · 425,955 shares

Expires not disclosed

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_price: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.exercise_date: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.expiration_date: Includes shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
December 31, 2020 Filed Jan 4, 2021 17:00 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionCommon Stock 237,545 $0.00 $0.00
Disclosure

SEC source: 0001307748-21-000005 · wf-form4_160979763737252.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,368,685

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 · shares: Represents the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
May 07, 2020 Filed May 8, 2020 17:07 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantRestricted Stock Units · Derivative 358,280 $0.00 $0.00
Disclosure

SEC source: 0001307748-20-000075 · wf-form4_158897203433885.xml · derivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 787,816

Underlying: Common Stock · 358,280 shares

Expires not disclosed

F1 · derivative.exercise_price: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2020, thirty-three percent (33%) of these units will vest on December 31, 2021 and the remaining thirty-four percent (34%) of these units will vest on December 30, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.exercise_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2020, thirty-three percent (33%) of these units will vest on December 31, 2021 and the remaining thirty-four percent (34%) of these units will vest on December 30, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.expiration_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2020, thirty-three percent (33%) of these units will vest on December 31, 2021 and the remaining thirty-four percent (34%) of these units will vest on December 30, 2022, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

Read SEC document
April 13, 2020 Filed Apr 14, 2020 17:29 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantCommon Stock 9,041 $2.36 $21,291.56
Disclosure

SEC source: 0001307748-20-000043 · wf-form4_158689977215639.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,131,140

F1 · price: The shares were acquired by the owners participation in the Company's Dividend Reinvestment Plan at the discounted price described therein.

Read SEC document
December 31, 2019 Filed Jan 2, 2020 17:03 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionRestricted Stock Units · Derivative 483,002 $0.00 $0.00
Disclosure

SEC source: 0001307748-20-000008 · wf-form4_157800261161058.xml · derivative · entry 2

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 429,536

Underlying: Common Stock · 483,002 shares

Expires not disclosed

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_price: Includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.exercise_date: Includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.expiration_date: Includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
December 31, 2019 Filed Jan 2, 2020 17:03 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionCommon Stock 269,290 $0.00 $0.00
Disclosure

SEC source: 0001307748-20-000008 · wf-form4_157800261161058.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,122,099

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 · shares: Represents the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
May 08, 2019 Filed May 10, 2019 13:45 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantRestricted Stock Units · Derivative 358,280 $0.00 $0.00
Disclosure

SEC source: 0001307748-19-000044 · wf-form4_155751030356910.xml · derivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 912,538

Underlying: Common Stock · 358,280 shares

Expires not disclosed

F1 · derivative.exercise_price: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2019, thirty-three percent (33%) of these units will vest on December 31, 2020 and the remaining thirty-four percent (34%) of these units will vest on December 31, 2021, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.exercise_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2019, thirty-three percent (33%) of these units will vest on December 31, 2020 and the remaining thirty-four percent (34%) of these units will vest on December 31, 2021, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

F1 · derivative.expiration_date: Reflects an award of Restricted Stock Units ("RSUs") in the Issuer pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of these units will vest on December 31, 2019, thirty-three percent (33%) of these units will vest on December 31, 2020 and the remaining thirty-four percent (34%) of these units will vest on December 31, 2021, subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

Read SEC document
December 31, 2018 Filed Jan 2, 2019 18:08 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionRestricted Stock Units · Derivative 548,939 $3.14 $1,723,668.46
Disclosure

SEC source: 0001307748-19-000009 · wf-form4_154647049522043.xml · derivative · entry 2

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 554,258

Underlying: Common Stock · 548,939 shares

Expires not disclosed

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_price: Amount includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.exercise_date: Amount includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

F2 · derivative.expiration_date: Amount includes the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of a restricted stock unit grant previously reported.

Read SEC document
December 31, 2018 Filed Jan 2, 2019 18:08 UTC InvenTrust Properties Corp. NONE · Entity 4341 Exercise / conversionCommon Stock 306,007 $3.14 $960,861.98
Disclosure

SEC source: 0001307748-19-000009 · wf-form4_154647049522043.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 852,809

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 · shares: Represents the number of net shares granted by the issuer after satisfying applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

Read SEC document
May 10, 2018 Filed May 10, 2018 17:28 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantCommon Stock 557,325 $0.00 $0.00
Disclosure

SEC source: 0001307748-18-000055 · wf-form4_152598766474511.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,616,736.694

F1 · shares: Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of the RSUs will vest on December 31, 2018, thirty-three percent (33%) of the RSUs will vest on December 31, 2019 and the remaining thirty-four percent (34%) of the RSUs will vest on December 31, 2020, subject to the officer's continued service on each applicable vesting date. The RSUs are subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

Read SEC document
December 29, 2017 Filed Jan 8, 2018 18:07 UTC InvenTrust Properties Corp. NONE · Entity 4341 Tax withholdingCommon Stock 279,258 $3.29 $918,758.82
Disclosure

SEC source: 0001307748-18-000008 · wf-form4_151545282722140.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,059,411.694

F1 · shares: Represents the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

Read SEC document
May 01, 2017 Filed May 3, 2017 18:02 UTC InvenTrust Properties Corp. NONE · Entity 4341 GrantCommon Stock 531,915 $0.00 $0.00
Disclosure

SEC source: 0001307748-17-000024 · wf-form4_149384894040558.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,338,669.694

F1 · shares: Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock pursuant to the InvenTrust Properties Corp. 2015 Incentive Award Plan. Thirty-three percent (33%) of the RSUs will vest on December 29, 2017, thirty-three percent (33%) of the RSUs will vest on December 31, 2018 and the remaining thirty-four percent (34%) of the RSUs will vest on December 31, 2019, subject to the officer's continued service on each applicable vesting date. The RSUs are subject to accelerated vesting in the event of a termination of employment (i) due to death or disability or (ii) by the Issuer without cause or by the holder for good reason, each within 24 months following a change in control of the Issuer. The RSUs will be settled in shares of the Issuer's common stock within 60 days after the vesting date.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 15:44 UTC InvenTrust Properties Corp. NONE · Entity 4341 Tax withholdingCommon Stock 157,595 $3.14 $494,848.30
Disclosure

SEC source: 0001435320-17-000002 · wf-form4_148347623909468.xml · nonDerivative · entry 1

McGuinness Thomas P · CIK 0001435320 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 806,754.694

F1 · shares: Represents the number of shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of restricted stock unit grants previously reported.

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.