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SMITH ROGER C

Disclosed activity across 1 company

Tapewire entity
168926
SEC CIK
0001185148

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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.

GLOBE LIFE INC.

Report date February 26, 2018 · Filed March 01, 2018

Section 16 reporting ended · disclosed 2018-03-01. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect45,368 Ending reported balance After 2018-02-26 transaction · row 2
2 source rows · reconciled sequence

Row 1 · 2018-02-26 · Grant · Acquired 15,966 · Balance 51,651

Row 2 · 2018-02-26 · Tax withholding · Disposed 6,283 · Balance 45,368

Common StockSEC Table I · non-derivativeIndirectThrift Plan Trust2,745 Reported balance Holding disclosure · report date 2018-02-26 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 2,745

F1: Shares in unitized fund in employee benefit plan - estimated conversion of $ balance to shares using $87.60 per share.

Filing footnotes · ownership attribution and instrument terms

F1: Shares in unitized fund in employee benefit plan - estimated conversion of $ balance to shares using $87.60 per share.

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
February 26, 2018 Filed Mar 1, 2018 00:39 UTC GLOBE LIFE INC. TMK · Entity 3408 Tax withholdingCommon Stock 6,283 $87.60 $550,390.80
Disclosure

SEC source: 0001183084-18-000109 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Former Exec. Officer Prin. Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,368

Read SEC document
February 26, 2018 Filed Mar 1, 2018 00:39 UTC GLOBE LIFE INC. TMK · Entity 3408 GrantCommon Stock 15,966 $0.00 $0.00
Disclosure

SEC source: 0001183084-18-000109 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Former Exec. Officer Prin. Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,651

Read SEC document
December 21, 2017 Filed Dec 21, 2017 23:07 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Options (Right to Buy) · Derivative 30,000 $0.00 Strike: $30.33 $0.00
Disclosure

SEC source: 0001183084-17-000189 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,000

Underlying: Common Stock · 30,000 shares

Expires 2019-01-23

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.

F4 · derivative.exercise_price: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

F4 · shares: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

Read SEC document
December 21, 2017 Filed Dec 21, 2017 23:07 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 30,000 $90.64 $2,719,314.00
Disclosure

SEC source: 0001183084-17-000189 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,685

F1 · price: sales at prices ranging from $90.43 per share to $90.845 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
December 21, 2017 Filed Dec 21, 2017 23:07 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 30,000 $30.33 $909,801.00
Disclosure

SEC source: 0001183084-17-000189 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 65,685

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.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 14:01 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Options (Right to Buy) · Derivative 30,000 $0.00 Strike: $30.33 $0.00
Disclosure

SEC source: 0001183084-17-000156 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,000

Underlying: Common Stock · 30,000 shares

Expires 2019-01-23

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.

F4 · derivative.exercise_price: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

F4 · shares: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 14:01 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 30,000 $84.50 $2,535,063.00
Disclosure

SEC source: 0001183084-17-000156 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,685

F1 · price: sales at prices ranging from $83.94 per share to $84.86 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
October 26, 2017 Filed Oct 27, 2017 14:01 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 30,000 $30.33 $909,801.00
Disclosure

SEC source: 0001183084-17-000156 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 65,685

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.

Read SEC document
July 28, 2017 Filed Aug 1, 2017 22:43 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Options (Right to Buy) · Derivative 30,000 $0.00 Strike: $30.33 $0.00
Disclosure

SEC source: 0001183084-17-000137 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,000

Underlying: Common Stock · 30,000 shares

Expires 2019-01-23

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.

F4 · derivative.exercise_price: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

F4 · shares: Previously reported as option for 60,000 shares at an exercise price of $45.49 per share, but has been adjusted to reflect 3-for-2 stock split paid in the form of 50% stock dividend occuring on July 1, 2014.

Read SEC document
July 28, 2017 Filed Aug 1, 2017 22:43 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 30,000 $78.55 $2,356,581.00
Disclosure

SEC source: 0001183084-17-000137 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,685

F1 · price: sales at prices ranging from $78.20 per share to $78.90 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
July 28, 2017 Filed Aug 1, 2017 22:43 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 30,000 $30.33 $909,801.00
Disclosure

SEC source: 0001183084-17-000137 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 65,685

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.

Read SEC document
February 22, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Options (Right to Buy) · Derivative 22,500 $0.00 Strike: $29.59 $0.00
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · derivative · entry 8

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 22,500 shares

Expires 2018-04-28

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 22, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 22,500 $77.29 $1,738,917.00
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · nonDerivative · entry 5

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,685

F3 · price: sales at prices ranging from $77.16 per share to $77.47 per share.

Read SEC document
February 22, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 22,500 $29.59 $665,802.00
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · nonDerivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,185

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 21, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 GrantEmployee Stock Options (Right to Buy) · Derivative 115,000 $0.00 Strike: $77.26 $0.00
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · derivative · entry 7

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 115,000

Underlying: Common Stock · 115,000 shares

Expires 2024-02-21

F2 · derivative.exercise_date: First exercisable as to 50% of shares 2-21-19 and as to remaining 50% of shares 2-21-20.

Read SEC document
February 21, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 Tax withholdingCommon Stock 4,966 $77.26 $383,673.16
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · nonDerivative · entry 3

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,685

F5 · shares: Shares surrendered in payment of withholding taxes upon issuance of performance shares.

Read SEC document
February 21, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 GrantCommon Stock 12,788 $0.00 $0.00
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,651

Read SEC document
February 21, 2017 Filed Feb 23, 2017 19:41 UTC GLOBE LIFE INC. TMK · Entity 3408 Tax withholdingCommon Stock 329 $77.26 $25,418.54
Disclosure

SEC source: 0001183084-17-000072 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,863

F4 · shares: Shares surrendered in payment of withholding taxes upon vesting of restricted stock.

Read SEC document
January 23, 2017 Filed Jan 26, 2017 00:51 UTC GLOBE LIFE INC. TMK · Entity 3408 Tax withholdingCommon Stock 871 $73.59 $64,096.89
Disclosure

SEC source: 0001183084-17-000031 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,192

Read SEC document
December 08, 2016 Filed Dec 12, 2016 19:43 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Option (right to buy) · Derivative 22,500 $0.00 Strike: $29.59 $0.00
Disclosure

SEC source: 0001183084-16-000470 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,500

Underlying: Common Stock · 22,500 shares

Expires 2018-04-28

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.

F4 · derivative.exercise_price: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · derivative.underlying_shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · balance_after: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

Read SEC document
December 08, 2016 Filed Dec 12, 2016 19:43 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 22,500 $73.68 $1,657,872.00
Disclosure

SEC source: 0001183084-16-000470 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,063

F1 · price: sales at prices ranging from $73.385 per share to $74.08 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
December 08, 2016 Filed Dec 12, 2016 19:43 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 22,500 $29.59 $665,802.00
Disclosure

SEC source: 0001183084-16-000470 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,563

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

Read SEC document
November 18, 2016 Filed Nov 18, 2016 23:22 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Option (right to buy) · Derivative 22,500 $0.00 Strike: $29.59 $0.00
Disclosure

SEC source: 0001183084-16-000466 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,000

Underlying: Common Stock · 22,500 shares

Expires 2018-04-28

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.

F4 · derivative.exercise_price: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · derivative.underlying_shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · balance_after: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

Read SEC document
November 18, 2016 Filed Nov 18, 2016 23:22 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 22,500 $69.82 $1,570,860.00
Disclosure

SEC source: 0001183084-16-000466 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,063

F1 · price: sales at prices ranging from $69.69 per share to $70.02 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
November 18, 2016 Filed Nov 18, 2016 23:22 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 22,500 $29.59 $665,802.00
Disclosure

SEC source: 0001183084-16-000466 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,563

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

Read SEC document
November 09, 2016 Filed Nov 10, 2016 21:52 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionEmployee Stock Option (right to buy) · Derivative 22,500 $0.00 Strike: $29.59 $0.00
Disclosure

SEC source: 0001183084-16-000452 · edgar.xml · derivative · entry 4

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 67,500

Underlying: Common Stock · 22,500 shares

Expires 2018-04-28

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.

F4 · derivative.exercise_price: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · derivative.underlying_shares: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

F4 · balance_after: Previously reported as option for 50,000 shares at an exercise price of $66.58 per share, but has been adjusted to reflect 3-for-2 stock splits paid in the form of 50% stock dividends occuring on July 1, 2011 and July 1, 2014.

Read SEC document
November 09, 2016 Filed Nov 10, 2016 21:52 UTC GLOBE LIFE INC. TMK · Entity 3408 SaleCommon Stock 22,500 $66.71 $1,501,076.25
Disclosure

SEC source: 0001183084-16-000452 · edgar.xml · nonDerivative · entry 2

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,063

F1 · price: sales at prices ranging from $66.47 per share to $66.92 per share.

F2 · price: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

Read SEC document
November 09, 2016 Filed Nov 10, 2016 21:52 UTC GLOBE LIFE INC. TMK · Entity 3408 Exercise / conversionCommon Stock 22,500 $29.59 $665,802.00
Disclosure

SEC source: 0001183084-16-000452 · edgar.xml · nonDerivative · entry 1

SMITH ROGER C · CIK 0001185148 · Exec. Officer of Principal Sub

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,563

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.