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KEMLER JAMES E

Disclosed activity across 1 company

Tapewire entity
17017
SEC CIK
0001239345

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
STRYKER CORPSYK · Entity 369Group PresidentJanuary 06, 2010January 08, 2010

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.

STRYKER CORP

Report date January 06, 2010 · Filed January 08, 2010 · Amendment

Amendment: balances below belong to this corrected disclosure, not necessarily a complete replacement of earlier positions.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect101,112 Last balance in matching sequence After 2010-01-06 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified.
2 source rows

Row 1 · 2010-01-06 · Exercise / conversion · Acquired 45,000 · Balance 126,195

Row 2 · 2010-01-06 · Tax withholding · Disposed 25,083 · Balance 101,112

Common StockSEC Table II · derivative / convertible security · Conversion / exercise price $16.21 · Expires 2010-04-13Direct0 Reported balance After 2010-01-06 transaction · row 4 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 4 · 2010-01-06 · Exercise / conversion · Disposed 45,000 · Balance 0

F1: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Common StockSEC Table I · non-derivativeIndirectBy 401K2,236 Reported balance Holding disclosure · report date 2010-01-06 · row 3 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 3 · Balance 2,236

Filing footnotes · ownership attribution and instrument terms

F1: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

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
January 06, 2010 Filed Jan 7, 2010 22:37 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 45,000 $16.21 Strike: $16.21 $729,450.00
Disclosure

SEC source: 0000310764-10-000003 · edgar.xml · derivative · entry 3

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 45,000 shares

Expires 2010-04-13

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_date: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
January 06, 2010 Filed Jan 7, 2010 22:37 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 25,083 $52.65 $1,320,619.95
Disclosure

SEC source: 0000310764-10-000003 · edgar.xml · nonDerivative · entry 2

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 101,112

Read SEC document
January 06, 2010 Filed Jan 7, 2010 22:37 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 45,000 $16.21 $729,450.00
Disclosure

SEC source: 0000310764-10-000003 · edgar.xml · nonDerivative · entry 1

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 126,195

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

Read SEC document
January 06, 2010 Filed Jan 8, 2010 13:18 UTC Amendment STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 45,000 $16.21 Strike: $16.21 $729,450.00
Disclosure

SEC source: 0000310764-10-000004 · edgar.xml · derivative · entry 4

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 45,000 shares

Expires 2010-04-13

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_date: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
January 06, 2010 Filed Jan 8, 2010 13:18 UTC Amendment STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 25,083 $52.65 $1,320,619.95
Disclosure

SEC source: 0000310764-10-000004 · edgar.xml · nonDerivative · entry 2

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 101,112

Read SEC document
January 06, 2010 Filed Jan 8, 2010 13:18 UTC Amendment STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 45,000 $16.21 $729,450.00
Disclosure

SEC source: 0000310764-10-000004 · edgar.xml · nonDerivative · entry 1

KEMLER JAMES E · CIK 0001239345 · Group President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 126,195

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 12, 2008 Filed Feb 14, 2008 18:01 UTC STRYKER CORP SYK · Entity 369 GrantCommon Stock · Derivative 66,000 $67.80 Strike: $67.80 $4,474,800.00
Disclosure

SEC source: 0000310764-08-000023 · edgar.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,000

Underlying: Common Stock · 66,000 shares

Expires 2018-02-11

F1 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1988 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
February 12, 2008 Filed Feb 15, 2008 17:27 UTC Amendment STRYKER CORP SYK · Entity 369 GrantCommon Stock · Derivative 66,000 $67.80 Strike: $67.80 $4,474,800.00
Disclosure

SEC source: 0000310764-08-000039 · edgar.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,000

Underlying: Common Stock · 66,000 shares

Expires 2018-02-11

F1 · derivative.exercise_date: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
November 02, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 SaleCommon Stock 3,700 $70.12 $259,425.87
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 6

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 81,195

F2 · price: Represents the average price for transactions in a range from $70.00 to $70.22

Read SEC document
November 02, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 SaleCommon Stock 42,300 $69.76 $2,950,649.19
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 5

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 84,895

F1 · price: Represents the average price for transactions in a range from $69.50 to $69.99

Read SEC document
November 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 55,000 $16.21 Strike: $16.21 $891,550.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · derivative · entry 9

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 55,000 shares

Expires 2009-04-20

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_date: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of the grant.

Read SEC document
November 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 20,000 $12.14 Strike: $12.14 $242,800.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · derivative · entry 8

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 20,000 shares

Expires 2009-04-20

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.

F3 · derivative.exercise_date: Employee stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of the grant.

Read SEC document
November 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 17,719 $71.00 $1,258,049.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 4

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,195

Read SEC document
November 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 55,000 $16.21 $891,550.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 3

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 144,914

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 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 5,896 $71.00 $418,616.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 2

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 89,914

Read SEC document
November 01, 2007 Filed Nov 5, 2007 13:44 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 20,000 $12.14 $242,800.00
Disclosure

SEC source: 0000310764-07-000121 · edgar.xml · nonDerivative · entry 1

KEMLER JAMES E · CIK 0001239345 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 95,810

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 14, 2007 Filed Feb 16, 2007 12:28 UTC STRYKER CORP syk · Entity 369 GrantCommon Stock · Derivative 72,000 $62.65 Strike: $62.65 $4,510,800.00
Disclosure

SEC source: 0000310764-07-000039 · primary_doc.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · V.P.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 72,000

Underlying: Common Stock · 72,000 shares

Expires 2017-02-13

F1 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
February 07, 2006 Filed Feb 9, 2006 15:27 UTC STRYKER CORP syk · Entity 369 GrantCommon Stock · Derivative 80,000 $46.85 Strike: $46.85 $3,748,000.00
Disclosure

SEC source: 0000310764-06-000013 · primary_doc.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · VP

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 80,000

Underlying: Common Stock · 80,000 shares

Expires 2016-02-06

F1 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
April 22, 2005 Filed Apr 26, 2005 19:17 UTC STRYKER CORP SYK · Entity 369 GrantCommon Stock · Derivative 70,000 $48.27 Strike: $48.27 $3,378,900.00
Disclosure

SEC source: 0001181678-05-000010 · primary_doc.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · V.P.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 70,000

Underlying: Common Stock · 70,000 shares

Expires 2015-04-21

F1 · derivative.exercise_date: Stock option granted under the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
March 05, 2004 Filed Mar 9, 2004 14:05 UTC STRYKER CORP SYK · Entity 369 GrantCommon Stock · Derivative 30,000 $90.42 Strike: $90.42 $2,712,600.00
Disclosure

SEC source: 0001239351-04-000006 · primary_doc.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,000

Underlying: Common Stock · 30,000 shares

Expires 2014-03-04

F1 · derivative.exercise_date: Stock option granted pursuant to the 1998 Stryker Corporation Stock Option Plan, exercisable as to 20% on each of the first five anniversaries of the date of grant.

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 40,000 $24.28 Strike: $24.28 $971,200.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · derivative · entry 13

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

Underlying: Common Stock · 40,000 shares

Expires 2009-04-19

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_date: Stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversary dates of the date of grant.

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 OtherCommon Stock · Derivative 30,000 $16.84 Strike: $16.84 $505,200.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · derivative · entry 12

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 30,000 shares

Expires 2008-08-20

F2 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversary dates of the date of grant.

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 30,000 $14.19 Strike: $14.19 $425,700.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · derivative · entry 11

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 30,000 shares

Expires 2007-03-03

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_date: Stock option granted pursuant to the Stryker Corporation 1988 Stock Option Plan, exercisable as to 20% on each of the first five anniversary dates of the date of grant.

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock · Derivative 80,000 $11.00 Strike: $11.00 $880,000.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · derivative · entry 10

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 80,000 shares

Expires 2006-04-23

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.

F1 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1988 Stock Option Plan, exercisable as to 20% on each of the first five anniversary dates of the date of grant.

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 SaleCommon Stock 105,000 $80.92 $8,496,306.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 9

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,905

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 8,916 $81.51 $726,743.16
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 8

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 142,905

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 40,000 $24.28 $971,200.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 7

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 151,821

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 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 7,557 $81.51 $615,971.07
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 6

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 111,821

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 30,000 $16.84 $505,200.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 5

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 119,378

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 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 7,866 $81.51 $641,157.66
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 4

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 89,378

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 30,000 $14.19 $425,700.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 3

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 97,244

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 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Tax withholdingCommon Stock 21,972 $81.51 $1,790,937.72
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 2

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 67,244

Read SEC document
October 27, 2003 Filed Oct 28, 2003 13:47 UTC STRYKER CORP SYK · Entity 369 Exercise / conversionCommon Stock 80,000 $11.00 $880,000.00
Disclosure

SEC source: 0001239345-03-000002 · primary_doc.xml · nonDerivative · entry 1

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 89,216

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 14, 2003 Filed Oct 16, 2003 21:35 UTC STRYKER CORP SYK · Entity 369 GrantCommon Stock · Derivative 35,000 $77.65 Strike: $77.65 $2,717,750.00
Disclosure

SEC source: 0001239345-03-000001 · primary_doc.xml · derivative · entry 1

KEMLER JAMES E · CIK 0001239345 · Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,000

Underlying: Common Stock · 35,000 shares

Expires 2013-10-13

F1 · derivative.exercise_date: Stock option granted pursuant to the Stryker Corporation 1998 Stock Option Plan, exercisable as to 20% on each of the first five anniversary dates of the date of grant.

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.