TapewireFind a company

person · Reporting owner

Dillard William T. III

Disclosed activity across 1 company

Tapewire entity
19715
SEC CIK
0001592970

Export transaction history ↓

Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
DILLARD'S, INC.DDS · Entity 8784Director · SENIOR VICE PRESIDENTAugust 24, 2026August 26, 2026

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.

DILLARD'S, INC.

Report date August 24, 2026 · Filed August 26, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common Class ASEC Table I · non-derivativeDirect29,750 Reported balance After 2026-08-24 transaction · row 1
1 source row

Row 1 · 2026-08-24 · Grant · Acquired 14 · Balance 29,750

Common Class A - Retirement PlanSEC Table I · non-derivativeDirect15,808 Reported balance Holding disclosure · report date 2026-08-24 · row 2 Holding and transaction disclosures are not merged.
1 source row

Row 2 · Balance 15,808

Common Class ASEC Table I · non-derivativeIndirectSee Footnote189,465 Reported balance Holding disclosure · report date 2026-08-24 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 189,465

F1: The amount reported represents shares held in trust for the benefit of the reporting person and his family, for which the reporting person serves as trustee.

Common Class ASEC Table I · non-derivativeIndirectSee Footnote13,755 Reported balance Holding disclosure · report date 2026-08-24 · row 4 Holding and transaction disclosures are not merged.
1 source row

Row 4 · Balance 13,755

F2: The amount reported represents shares held by the reporting person's spouse.

Common Class BSEC Table II · derivative / convertible securityDirect70,445 Reported balance Holding disclosure · report date 2026-08-24 · row 5 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 5 · Balance 70,445

F3: Shares of Issuer Class B Common Stock are convertible at the option of any holder thereof into shares of Issuer Class A Common Stock on a one-for-one basis. Issuer Class B Common Stock has no expiration date.

Common Class BSEC Table II · derivative / convertible securityIndirectSee Footnote38,472 Reported balance Holding disclosure · report date 2026-08-24 · row 6 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 6 · Balance 38,472

F3: Shares of Issuer Class B Common Stock are convertible at the option of any holder thereof into shares of Issuer Class A Common Stock on a one-for-one basis. Issuer Class B Common Stock has no expiration date.

F1: The amount reported represents shares held in trust for the benefit of the reporting person and his family, for which the reporting person serves as trustee.

Common Class BSEC Table II · derivative / convertible securityIndirectSee Footnote9,618 Reported balance Holding disclosure · report date 2026-08-24 · row 7 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 7 · Balance 9,618

F3: Shares of Issuer Class B Common Stock are convertible at the option of any holder thereof into shares of Issuer Class A Common Stock on a one-for-one basis. Issuer Class B Common Stock has no expiration date.

F2: The amount reported represents shares held by the reporting person's spouse.

Filing footnotes · ownership attribution and instrument terms

F1: The amount reported represents shares held in trust for the benefit of the reporting person and his family, for which the reporting person serves as trustee.

F2: The amount reported represents shares held by the reporting person's spouse.

F3: Shares of Issuer Class B Common Stock are convertible at the option of any holder thereof into shares of Issuer Class A Common Stock on a one-for-one basis. Issuer Class B Common Stock has no expiration date.

Transaction history

JSON API
Reset

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
September 30, 2019 Filed Oct 2, 2019 20:18 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 116 $63.44 $7,359.04
Disclosure

SEC source: 0000028917-19-000341 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,078

Read SEC document
August 26, 2019 Filed Aug 28, 2019 20:36 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 107 $55.45 $5,933.15
Disclosure

SEC source: 0000028917-19-000310 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,962

Read SEC document
August 06, 2019 Filed Aug 8, 2019 20:51 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 7 $69.87 $489.09
Disclosure

SEC source: 0000028917-19-000270 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,855

Read SEC document
July 29, 2019 Filed Jul 30, 2019 22:02 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 78 $75.97 $5,925.66
Disclosure

SEC source: 0000028917-19-000243 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,848

Read SEC document
July 01, 2019 Filed Jul 3, 2019 19:12 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 122 $60.62 $7,395.64
Disclosure

SEC source: 0000028917-19-000210 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,770

Read SEC document
May 28, 2019 Filed May 30, 2019 20:45 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 102 $56.82 $5,795.64
Disclosure

SEC source: 0000028917-19-000181 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,648

Read SEC document
May 07, 2019 Filed May 9, 2019 20:33 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 7 $67.10 $469.70
Disclosure

SEC source: 0000028917-19-000131 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,546

Read SEC document
April 29, 2019 Filed May 1, 2019 20:48 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 76 $70.03 $5,322.28
Disclosure

SEC source: 0000028917-19-000107 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,539

Read SEC document
February 05, 2019 Filed Feb 5, 2019 22:10 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 7 $67.59 $473.13
Disclosure

SEC source: 0000028917-19-000059 · edgar.xml · nonDerivative · entry 2

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,463

Read SEC document
February 01, 2019 Filed Feb 5, 2019 22:10 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 416 $65.75 $27,352.00
Disclosure

SEC source: 0000028917-19-000059 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,456

Read SEC document
December 31, 2018 Filed Jan 3, 2019 22:21 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 118 $59.96 $7,075.28
Disclosure

SEC source: 0000028917-19-000023 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,040

Read SEC document
November 26, 2018 Filed Nov 28, 2018 21:47 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 87 $65.58 $5,705.46
Disclosure

SEC source: 0000028917-18-000510 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,922

Read SEC document
November 06, 2018 Filed Nov 8, 2018 21:47 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 6 $75.27 $451.62
Disclosure

SEC source: 0000028917-18-000474 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,835

Read SEC document
October 29, 2018 Filed Oct 31, 2018 20:45 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 76 $74.49 $5,661.24
Disclosure

SEC source: 0000028917-18-000446 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,829

Read SEC document
October 01, 2018 Filed Oct 3, 2018 20:50 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 91 $77.60 $7,061.60
Disclosure

SEC source: 0000028917-18-000412 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,753

Read SEC document
August 27, 2018 Filed Aug 29, 2018 20:49 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 75 $75.84 $5,688.00
Disclosure

SEC source: 0000028917-18-000378 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,662

Read SEC document
August 07, 2018 Filed Aug 9, 2018 20:56 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 5 $81.91 $409.55
Disclosure

SEC source: 0000028917-18-000344 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,587

Read SEC document
July 30, 2018 Filed Aug 1, 2018 21:01 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 70 $81.38 $5,696.60
Disclosure

SEC source: 0000028917-18-000317 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,582

Read SEC document
July 02, 2018 Filed Jul 3, 2018 20:55 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 78 $91.39 $7,128.42
Disclosure

SEC source: 0000028917-18-000290 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,512

Read SEC document
May 29, 2018 Filed May 31, 2018 20:36 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 70 $78.91 $5,523.70
Disclosure

SEC source: 0000028917-18-000251 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,434

Read SEC document
May 08, 2018 Filed May 10, 2018 21:28 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 6 $68.62 $411.72
Disclosure

SEC source: 0000028917-18-000201 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,364

Read SEC document
April 30, 2018 Filed May 2, 2018 21:19 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 67 $78.41 $5,253.47
Disclosure

SEC source: 0000028917-18-000178 · edgar.xml · nonDerivative · entry 3

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,358

Read SEC document
February 06, 2018 Filed Feb 8, 2018 21:36 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 6 $62.48 $374.88
Disclosure

SEC source: 0000028917-18-000093 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,471

Read SEC document
February 02, 2018 Filed Feb 6, 2018 21:39 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 426 $65.09 $27,728.34
Disclosure

SEC source: 0000028917-18-000066 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,465

Read SEC document
January 02, 2018 Filed Jan 4, 2018 21:26 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 134 $60.76 $8,141.84
Disclosure

SEC source: 0000028917-18-000031 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,039

Read SEC document
November 20, 2017 Filed Nov 22, 2017 21:30 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 101 $54.00 $5,454.00
Disclosure

SEC source: 0000028917-17-000361 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,905

Read SEC document
October 31, 2017 Filed Nov 2, 2017 22:13 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 7 $51.02 $357.14
Disclosure

SEC source: 0000028917-17-000325 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,804

Read SEC document
October 23, 2017 Filed Oct 25, 2017 20:38 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 99 $55.03 $5,447.97
Disclosure

SEC source: 0000028917-17-000304 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,797

Read SEC document
September 25, 2017 Filed Sep 27, 2017 20:47 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 120 $56.96 $6,835.20
Disclosure

SEC source: 0000028917-17-000263 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,698

Read SEC document
August 21, 2017 Filed Aug 23, 2017 20:57 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 97 $56.24 $5,455.28
Disclosure

SEC source: 0000028917-17-000225 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,578

Read SEC document
August 01, 2017 Filed Aug 9, 2017 00:25 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 3 $75.67 $227.01
Disclosure

SEC source: 0000028917-17-000193 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,481

Read SEC document
July 24, 2017 Filed Jul 26, 2017 20:29 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 80 $67.87 $5,429.60
Disclosure

SEC source: 0000028917-17-000165 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,478

Read SEC document
June 26, 2017 Filed Jun 28, 2017 20:59 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 125 $54.38 $6,797.50
Disclosure

SEC source: 0000028917-17-000137 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,398

Read SEC document
May 22, 2017 Filed May 24, 2017 22:57 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 106 $51.20 $5,427.20
Disclosure

SEC source: 0000028917-17-000102 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,273

Read SEC document
May 02, 2017 Filed May 4, 2017 21:25 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 4 $56.04 $224.16
Disclosure

SEC source: 0000028917-17-000073 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,167

Read SEC document
April 24, 2017 Filed Apr 26, 2017 21:05 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 134 $54.24 $7,268.16
Disclosure

SEC source: 0000028917-17-000064 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,163

Read SEC document
January 31, 2017 Filed Feb 2, 2017 21:52 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 3 $55.75 $167.25
Disclosure

SEC source: 0000028917-17-000035 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,029

Read SEC document
January 27, 2017 Filed Jan 31, 2017 22:47 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 534 $55.71 $29,749.14
Disclosure

SEC source: 0000028917-17-000027 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,026

Read SEC document
January 03, 2017 Filed Jan 5, 2017 22:20 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 110 $61.90 $6,809.00
Disclosure

SEC source: 0000028917-17-000008 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,492

Read SEC document
November 21, 2016 Filed Nov 22, 2016 22:34 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 65 $69.35 $4,507.75
Disclosure

SEC source: 0000028917-16-000413 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,382

Read SEC document
November 01, 2016 Filed Nov 3, 2016 20:26 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 3 $60.44 $181.32
Disclosure

SEC source: 0000028917-16-000397 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,317

Read SEC document
October 24, 2016 Filed Oct 26, 2016 20:56 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 76 $59.95 $4,556.20
Disclosure

SEC source: 0000028917-16-000383 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,314

Read SEC document
September 26, 2016 Filed Sep 28, 2016 21:06 UTC DILLARD'S, INC. DDS · Entity 8784 GrantCommon Class A 97 $58.71 $5,694.87
Disclosure

SEC source: 0000028917-16-000381 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,238

Read SEC document
March 02, 2015 Filed May 2, 2018 21:19 UTC DILLARD'S, INC. DDS · Entity 8784 GiftCommon Class A 100 $0.00 $0.00
Disclosure

SEC source: 0000028917-18-000178 · edgar.xml · nonDerivative · entry 2

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,291

Read SEC document
February 26, 2015 Filed May 2, 2018 21:19 UTC DILLARD'S, INC. DDS · Entity 8784 GiftCommon Class A 1,080 $0.00 $0.00
Disclosure

SEC source: 0000028917-18-000178 · edgar.xml · nonDerivative · entry 1

Dillard William T. III · CIK 0001592970 · Senior Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,391

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.