Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| GWG Holdings, Inc.GWGH · Entity 111001 | Director | October 03, 2016 | November 03, 2016 |
| J C PENNEY CO INCJCP · Entity 16599 | EVP, Chief Customer Officer | August 27, 2019 | August 28, 2019 |
| Sprouts Farmers Market, Inc.SFM · Entity 2456 | Chief Customer Officer | March 04, 2019 | March 06, 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.
GWG Holdings, Inc.
Report date October 03, 2016 · Filed November 03, 2016 · Amendment
Amendment: balances below belong to this corrected disclosure, not necessarily a complete replacement of earlier positions.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Stock Options (right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $8.93 · Expires 2026-10-02 | Direct | 0 |
Reported balance
After 2016-10-03 transaction · row 2
Amendment: may correct only part of an earlier disclosure.
1 source rowRow 2 · 2016-10-03 · Other · Disposed 2,100 · Balance 0 F1: By Written Consent dated October 26, 2016, the Compensation Committee of the Board of Directors rescinded the October 3, 2016 grant to the Reporting Person. The Reporting Person accepted such rescission for no consideration. |
| Common Stock, $.001 par valueSEC Table I · non-derivative | Direct | 0 |
Reported balance
Holding disclosure · report date 2016-10-03 · row 1
Amendment: may correct only part of an earlier disclosure.
1 source rowRow 1 · Balance 0 |
Filing footnotes · ownership attribution and instrument terms
F1: By Written Consent dated October 26, 2016, the Compensation Committee of the Board of Directors rescinded the October 3, 2016 grant to the Reporting Person. The Reporting Person accepted such rescission for no consideration.
J C PENNEY CO INC
Report date August 27, 2019 · Filed August 28, 2019
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common Stock of 50 cents Par ValueSEC Table I · non-derivative | Direct | 1,000,100 |
Reported balance
After 2019-08-27 transaction · row 1
1 source rowRow 1 · 2019-08-27 · Purchase · Acquired 250,000 · Balance 1,000,100 F1: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.57 to $0.58, inclusive. The reporting person undertakes to provide any security holder of J. C. Penney Company, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in the footnote to this Form 4. |
Filing footnotes · ownership attribution and instrument terms
F1: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.57 to $0.58, inclusive. The reporting person undertakes to provide any security holder of J. C. Penney Company, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in the footnote to this Form 4.
Sprouts Farmers Market, Inc.
Report date March 04, 2019 · Filed March 06, 2019
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common Stock, par value $0.001 per shareSEC Table I · non-derivative | Direct | 22,917 |
Reported balance
After 2019-03-04 transaction · row 1
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 1 · 2019-03-04 · Sale · Disposed 2,509 · Balance 22,917 F1: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. F2: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.95 to $23.1345 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. |
| Common Stock, par value $0.001 per shareSEC Table I · non-derivative | Direct | 29,193 |
Reported balance
After 2019-03-04 transaction · row 2
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 2 · 2019-03-04 · Grant · Acquired 6,276 · Balance 29,193 F3: Consists of a grant of restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. These restricted stock units will vest over three years, with one-third vesting on March 4, 2020; one-third vesting on March 4, 2021; and the remaining one-third vesting on March 4, 2022, assuming continued employment through the applicable vest date. |
| Common Stock, par value $0.001 per shareSEC Table I · non-derivative | Direct | 28,933 |
Reported balance
After 2019-03-05 transaction · row 3
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 3 · 2019-03-05 · Sale · Disposed 260 · Balance 28,933 F1: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. |
| Common Stock, par value $0.001 per shareSEC Table I · non-derivative | Direct | 28,392 |
Reported balance
After 2019-03-06 transaction · row 4
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 4 · 2019-03-06 · Sale · Disposed 541 · Balance 28,392 F1: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. F4: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.88 to $23.0575 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F5: Includes, in addition to the 6,276 shares described in Note (3), 10,532 shares of common stock, 6,073 restricted shares, and 5,511 performance share awards. Each restricted share and performance share award represents the right to receive, upon vesting, one share of common stock. 2,449 restricted shares will vest on March 3, 2020, and 3,624 restricted shares will vest evenly over two years on March 5, 2020 and March 5, 2021. The 5,511 performance shares will vest on March 3, 2020. All such vests assume continued employment through the applicable dates. |
| Stock Option (right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.12 · Expires 2026-03-04 | Direct | 9,764 |
Reported balance
After 2019-03-04 transaction · row 5
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 5 · 2019-03-04 · Grant · Acquired 9,764 · Balance 9,764 F6: These options become exercisable in three equal annual installments on March 4, 2020, March 4, 2021, and March 4, 2022, assuming continued employment through the vest dates. |
Filing footnotes · ownership attribution and instrument terms
F1: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person.
F2: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.95 to $23.1345 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3: Consists of a grant of restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. These restricted stock units will vest over three years, with one-third vesting on March 4, 2020; one-third vesting on March 4, 2021; and the remaining one-third vesting on March 4, 2022, assuming continued employment through the applicable vest date.
F4: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.88 to $23.0575 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5: Includes, in addition to the 6,276 shares described in Note (3), 10,532 shares of common stock, 6,073 restricted shares, and 5,511 performance share awards. Each restricted share and performance share award represents the right to receive, upon vesting, one share of common stock. 2,449 restricted shares will vest on March 3, 2020, and 3,624 restricted shares will vest evenly over two years on March 5, 2020 and March 5, 2021. The 5,511 performance shares will vest on March 3, 2020. All such vests assume continued employment through the applicable dates.
F6: These options become exercisable in three equal annual installments on March 4, 2020, March 4, 2021, and March 4, 2022, assuming continued employment through the vest dates.
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 |
|---|---|---|---|---|---|---|
| August 27, 2019 Filed Aug 28, 2019 16:22 UTC | J C PENNEY CO INC JCP · Entity 16599 | PurchaseCommon Stock of 50 cents Par Value | 250,000 | $0.58 | $144,600.00 |
DisclosureSEC source: 0001567619-19-017631 · doc1.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · EVP, Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,000,100 F1 · price: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.57 to $0.58, inclusive. The reporting person undertakes to provide any security holder of J. C. Penney Company, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in the footnote to this Form 4. Read SEC document |
| June 06, 2019 Filed Jun 6, 2019 18:59 UTC | J C PENNEY CO INC JCP · Entity 16599 | GrantCommon Stock of 50 cents Par Value | 750,000 | $0.00 | $0.00 |
DisclosureSEC source: 0001567619-19-012989 · doc1.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · EVP, Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 750,100 F1 · shares: Represents restricted stock units granted in connection with the commencement of Mr. Gensch's employment, of which 500,000 units will vest on June 6, 2022, and 250,000 units will vest one-third on June 6, 2020, one-third on June 6, 2021 and one-third on June 6, 2022, respectively. Read SEC document |
| March 06, 2019 Filed Mar 6, 2019 23:20 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | SaleCommon Stock, par value $0.001 per share | 541 | $22.88 | $12,378.62 |
DisclosureSEC source: 0001209191-19-017496 · doc4.xml · nonDerivative · entry 4 Gensch Shawn R · CIK 0001616785 · Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 28,392 F1 · kind: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. F4 · price: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.88 to $23.0575 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F5 · balance_after: Includes, in addition to the 6,276 shares described in Note (3), 10,532 shares of common stock, 6,073 restricted shares, and 5,511 performance share awards. Each restricted share and performance share award represents the right to receive, upon vesting, one share of common stock. 2,449 restricted shares will vest on March 3, 2020, and 3,624 restricted shares will vest evenly over two years on March 5, 2020 and March 5, 2021. The 5,511 performance shares will vest on March 3, 2020. All such vests assume continued employment through the applicable dates. Read SEC document |
| March 05, 2019 Filed Mar 6, 2019 23:20 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | SaleCommon Stock, par value $0.001 per share | 260 | $23.18 | $6,026.80 |
DisclosureSEC source: 0001209191-19-017496 · doc4.xml · nonDerivative · entry 3 Gensch Shawn R · CIK 0001616785 · Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 28,933 F1 · kind: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. Read SEC document |
| March 04, 2019 Filed Mar 6, 2019 23:20 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | GrantStock Option (right to buy) · Derivative | 9,764 | $0.00 Strike: $23.12 | $0.00 |
DisclosureSEC source: 0001209191-19-017496 · doc4.xml · derivative · entry 5 Gensch Shawn R · CIK 0001616785 · Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 9,764 Underlying: Common stock, par value $0.001 per share · 9,764 shares Expires 2026-03-04 F6 · derivative.exercise_date: These options become exercisable in three equal annual installments on March 4, 2020, March 4, 2021, and March 4, 2022, assuming continued employment through the vest dates. Read SEC document |
| March 04, 2019 Filed Mar 6, 2019 23:20 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | GrantCommon Stock, par value $0.001 per share | 6,276 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-19-017496 · doc4.xml · nonDerivative · entry 2 Gensch Shawn R · CIK 0001616785 · Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 29,193 F3 · security: Consists of a grant of restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. These restricted stock units will vest over three years, with one-third vesting on March 4, 2020; one-third vesting on March 4, 2021; and the remaining one-third vesting on March 4, 2022, assuming continued employment through the applicable vest date. Read SEC document |
| March 04, 2019 Filed Mar 6, 2019 23:20 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | SaleCommon Stock, par value $0.001 per share | 2,509 | $22.95 | $57,583.56 |
DisclosureSEC source: 0001209191-19-017496 · doc4.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · Chief Customer Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 22,917 F1 · kind: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. F2 · price: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.95 to $23.1345 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Read SEC document |
| March 05, 2018 Filed Mar 7, 2018 23:26 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | SaleCommon Stock, par value $0.001 per share | 997 | $25.24 | $25,166.77 |
DisclosureSEC source: 0001209191-18-017833 · doc4.xml · nonDerivative · entry 2 Gensch Shawn R · CIK 0001616785 · Chief Marketing Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 25,426 F2 · kind: This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. F3 · price: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.24 to $25.5578 per share, 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, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · balance_after: Includes, in addition to the 5,436 restricted shares described in Note (1), 3,198 shares of common stock, 5,770 shares of restricted stock, and 11,022 performance shares. Each share of restricted stock and performance share award represents the right to receive, upon vesting, one share of common stock. 4,898 shares of restricted stock will vest evenly over two years on March 3, 2019 and 2020. The remaining 872 shares of restricted stock will vest on March 4, 2019. The 11,022 performance shares will vest annually over two years on March 3, 2019 and 2020. All such vests assume continued employment through the applicable dates. Read SEC document |
| March 05, 2018 Filed Mar 7, 2018 23:26 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | GrantCommon Stock, par value $0.001 per share | 5,436 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-18-017833 · doc4.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · Chief Marketing Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 26,423 F1 · security: Consists of a grant of restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. These restricted stock units will vest over three years, with one-third vesting on March 5, 2019; one-third vesting on March 5, 2020; and the remaining one-third vesting on March 5, 2021, assuming continued employment through the applicable vest date. Read SEC document |
| February 20, 2018 Filed Feb 22, 2018 23:10 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | GrantCommon Stock, par value $0.001 per share | 11,022 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-18-012598 · doc4.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · Chief Marketing Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 20,987 F1 · shares: Represents performance share awards granted to the Reporting Person on March 3, 2017 under the Issuer's 2013 Incentive Plan, as amended. On February 20, 2018, the Compensation Committee of the Board of Directors of the Issuer determined that the performance conditions were met with respect to such performance share awards. 50% of such shares will vest on each of the second and third anniversaries of the grant date, subject to the Reporting Person's continuous service through such dates. F2 · balance_after: Includes, in addition to the 11,022 restricted shares described in Note (1), 873 shares of common stock, 7,348 shares of restricted stock and 1,744 restricted stock units. Each restricted stock represents the right to receive, upon vesting, one share of common stock. These shares of restricted stock will vest over three years, with one-third vesting on March 3, 2018; one-third vesting on March 3, 2019; and the remaining one-third vesting on March 3, 2020. The remaining restricted stock units will vest evenly on March 4, 2018 and March 4, 2019, assuming continued employment through such dates. Read SEC document |
| March 03, 2017 Filed Mar 7, 2017 22:35 UTC | Sprouts Farmers Market, Inc. SFM · Entity 2456 | GrantCommon Stock, par value $0.001 per share | 7,348 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-17-018906 · doc4.xml · nonDerivative · entry 1 Gensch Shawn R · CIK 0001616785 · Chief Marketing Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 9,965 F1 · security: Consists of a grant of restricted stock. Each restricted stock represents the right to receive, upon vesting, one share of common stock. These shares of restricted stock will vest over three years, with one-third vesting on March 3, 2018; one-third vesting on March 3, 2019; and the remaining one-third vesting on March 3, 2020, assuming continued employment through the applicable vest date. F2 · balance_after: Includes, in addition to the 7,348 restricted shares described in Note (1), 873 shares of common stock and 1,744 restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. The remaining restricted stock units will vest evenly on March 4, 2018 and March 4, 2019, assuming continued employment through such dates. Read SEC document |
| October 03, 2016 Filed Oct 4, 2016 17:28 UTC | GWG Holdings, Inc. GWGH · Entity 111001 | GrantStock Options (right to buy) · Derivative | 2,100 | $0.00 Strike: $8.93 | $0.00 |
DisclosureSEC source: 0001179110-16-030328 · edgar.xml · derivative · entry 2 Gensch Shawn R · CIK 0001616785 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,100 Underlying: Common Stock, $.001 par value · 2,100 shares Expires 2026-10-02 Read SEC document |
| October 03, 2016 Filed Nov 3, 2016 13:56 UTC Amendment | GWG Holdings, Inc. GWGH · Entity 111001 | OtherStock Options (right to buy) · Derivative | 2,100 | $0.00 Strike: $8.93 | $0.00 |
DisclosureSEC source: 0001179110-16-031121 · edgar.xml · derivative · entry 2 Gensch Shawn R · CIK 0001616785 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock, $.001 par value · 2,100 shares Expires 2026-10-02 F1 · kind: By Written Consent dated October 26, 2016, the Compensation Committee of the Board of Directors rescinded the October 3, 2016 grant to the Reporting Person. The Reporting Person accepted such rescission for no consideration. F1 · derivative.exercise_date: By Written Consent dated October 26, 2016, the Compensation Committee of the Board of Directors rescinded the October 3, 2016 grant to the Reporting Person. The Reporting Person accepted such rescission for no consideration. F1 · derivative.expiration_date: By Written Consent dated October 26, 2016, the Compensation Committee of the Board of Directors rescinded the October 3, 2016 grant to the Reporting Person. The Reporting Person accepted such rescission for no consideration. Read SEC document |
| July 22, 2016 Filed Sep 21, 2016 12:54 UTC | GWG Holdings, Inc. GWGH · Entity 111001 | GrantStock Options (right to buy) · Derivative | 25,200 | $0.00 Strike: $6.74 | $0.00 |
DisclosureSEC source: 0001179110-16-029890 · edgar.xml · derivative · entry 3 Gensch Shawn R · CIK 0001616785 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 25,200 Underlying: Common Stock · 25,200 shares Expires 2016-07-21 F1 · derivative.exercise_date: Option vests in increments of 2,100 shares each on a quarterly basis over three years beginning on October 1, 2016. Read SEC document |
| July 01, 2016 Filed Sep 21, 2016 12:54 UTC | GWG Holdings, Inc. GWGH · Entity 111001 | GrantStock Options (right to buy) · Derivative | 1,500 | $0.00 Strike: $7.00 | $0.00 |
DisclosureSEC source: 0001179110-16-029890 · edgar.xml · derivative · entry 2 Gensch Shawn R · CIK 0001616785 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,500 Underlying: Common Stock, $.001 par value · 1,500 shares Expires 2026-06-30 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.