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person · Reporting owner

Kerr Michael T.

Disclosed activity across 1 company

Tapewire entity
26889
SEC CIK
0001827021

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
EOG RESOURCES INCEOG · Entity 1344DirectorJuly 31, 2026August 04, 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.

EOG RESOURCES INC

Report date July 31, 2026 · Filed August 04, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect23,295.966 Reported balance After 2026-07-31 transaction · row 1
1 source row

Row 1 · 2026-07-31 · Grant · Acquired 365.307 · Balance 23,295.966

Common StockSEC Table I · non-derivativeIndirectFamily Trust168,250 Reported balance Holding disclosure · report date 2026-07-31 · row 2 Holding and transaction disclosures are not merged.
1 source row

Row 2 · Balance 168,250

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
July 31, 2026 Filed Aug 4, 2026 20:50 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 365.307 $148.69 $54,317.50
Disclosure

SEC source: 0000821189-26-000155 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,295.966

Read SEC document
May 27, 2026 Filed May 29, 2026 17:18 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 56.694 $134.30 $7,614.00
Disclosure

SEC source: 0000821189-26-000129 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 22,930.659

Read SEC document
May 26, 2026 Filed May 27, 2026 20:09 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 1,541 $0.00 $0.00
Disclosure

SEC source: 0000821189-26-000109 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 22,873.965

Read SEC document
April 30, 2026 Filed May 4, 2026 16:46 UTC EOG RESOURCES INC EOG · Entity 1344 Disposition to issuerCommon Stock 0.627 $140.57 $88.14
Disclosure

SEC source: 0000821189-26-000093 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,332.965

Read SEC document
April 30, 2026 Filed May 4, 2026 16:46 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 369.627 $140.57 $51,958.47
Disclosure

SEC source: 0000821189-26-000093 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,333.592

Read SEC document
January 30, 2026 Filed Feb 3, 2026 17:52 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 459.2 $112.13 $51,490.10
Disclosure

SEC source: 0000821189-26-000029 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,963.965

Read SEC document
October 31, 2025 Filed Nov 4, 2025 22:41 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 481.846 $105.84 $50,998.58
Disclosure

SEC source: 0000821189-25-000111 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,504.765

Read SEC document
July 31, 2025 Filed Aug 4, 2025 19:51 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 414.749 $120.02 $49,778.17
Disclosure

SEC source: 0000821189-25-000051 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,022.919

Read SEC document
May 28, 2025 Filed May 30, 2025 17:06 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 54.238 $110.45 $5,990.59
Disclosure

SEC source: 0001127602-25-015989 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,608.17

Read SEC document
May 27, 2025 Filed May 28, 2025 20:31 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 1,887 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-015812 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,553.932

Read SEC document
April 30, 2025 Filed May 2, 2025 18:18 UTC EOG RESOURCES INC EOG · Entity 1344 Disposition to issuerCommon Stock 1.518 $110.33 $167.48
Disclosure

SEC source: 0001127602-25-013111 · form4.xml · nonDerivative · entry 3

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,666.932

Read SEC document
April 30, 2025 Filed May 2, 2025 18:18 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 365.453 $110.33 $40,320.43
Disclosure

SEC source: 0001127602-25-013111 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,668.45

Read SEC document
January 31, 2025 Filed Feb 4, 2025 17:55 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 318.072 $125.79 $40,010.28
Disclosure

SEC source: 0001127602-25-002891 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,302.997

Read SEC document
December 23, 2024 Filed Dec 26, 2024 20:09 UTC EOG RESOURCES INC EOG · Entity 1344 GiftCommon Stock 800 $0.00 $0.00
Disclosure

SEC source: 0001127602-24-030035 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Family Trust

Disclosed balance after: 168,250

Read SEC document
October 31, 2024 Filed Nov 4, 2024 16:29 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 317.492 $121.96 $38,721.32
Disclosure

SEC source: 0001127602-24-026274 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,984.925

Read SEC document
August 09, 2024 Filed Aug 13, 2024 11:06 UTC EOG RESOURCES INC EOG · Entity 1344 GiftCommon Stock 950 $0.00 $0.00
Disclosure

SEC source: 0001127602-24-022033 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Family Trust

Disclosed balance after: 169,050

Read SEC document
July 31, 2024 Filed Aug 1, 2024 21:42 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 303.198 $126.80 $38,445.51
Disclosure

SEC source: 0001127602-24-021408 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,667.433

Read SEC document
May 30, 2024 Filed Jun 3, 2024 18:17 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 74.72 $122.25 $9,134.52
Disclosure

SEC source: 0001127602-24-017258 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,364.235

Read SEC document
May 28, 2024 Filed May 30, 2024 17:11 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 1,589 $0.00 $0.00
Disclosure

SEC source: 0001127602-24-016911 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,289.515

Read SEC document
April 30, 2024 Filed May 2, 2024 20:01 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 275.894 $132.13 $36,453.87
Disclosure

SEC source: 0001127602-24-013911 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,700.515

Read SEC document
January 31, 2024 Filed Feb 1, 2024 22:50 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 317.819 $113.79 $36,164.62
Disclosure

SEC source: 0001127602-24-002958 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,424.621

Read SEC document
December 29, 2023 Filed Jan 2, 2024 23:40 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 150.292 $120.95 $18,177.82
Disclosure

SEC source: 0001127602-24-000179 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,106.802

Read SEC document
October 31, 2023 Filed Nov 1, 2023 21:44 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 275.411 $126.25 $34,770.64
Disclosure

SEC source: 0001127602-23-026516 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,956.51

Read SEC document
July 31, 2023 Filed Aug 1, 2023 23:04 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 260.737 $132.53 $34,555.47
Disclosure

SEC source: 0001127602-23-021716 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,681.099

Read SEC document
May 30, 2023 Filed Jun 1, 2023 13:17 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 1,838 $0.00 $0.00
Disclosure

SEC source: 0001127602-23-017284 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,420.362

Read SEC document
April 28, 2023 Filed May 1, 2023 21:58 UTC EOG RESOURCES INC EOG · Entity 1344 Disposition to issuerCommon Stock 0.736 $119.47 $87.93
Disclosure

SEC source: 0001127602-23-013942 · form4.xml · nonDerivative · entry 3

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,571.245

Read SEC document
April 28, 2023 Filed May 1, 2023 21:58 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 275.375 $119.47 $32,899.05
Disclosure

SEC source: 0001127602-23-013942 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,571.981

Read SEC document
April 28, 2023 Filed May 2, 2023 19:52 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 11.117 $119.47 $1,328.15
Disclosure

SEC source: 0001127602-23-014076 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,582.362

Read SEC document
April 25, 2023 Filed Apr 27, 2023 22:27 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 112.12 $116.67 $13,081.04
Disclosure

SEC source: 0001127602-23-013696 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,296.606

Read SEC document
March 30, 2023 Filed Apr 3, 2023 19:56 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 83.591 $113.54 $9,490.92
Disclosure

SEC source: 0001127602-23-011895 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,184.486

Read SEC document
January 31, 2023 Filed Feb 1, 2023 22:53 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 246.703 $132.25 $32,626.47
Disclosure

SEC source: 0001127602-23-002973 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,100.895

Read SEC document
January 12, 2023 Filed Jan 17, 2023 17:42 UTC EOG RESOURCES INC EOG · Entity 1344 PurchaseCommon Stock 20,000 $130.49 $2,609,854.00
Disclosure

SEC source: 0001127602-23-001455 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Family Trust

Disclosed balance after: 170,000

Read SEC document
December 30, 2022 Filed Jan 4, 2023 23:26 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 105.833 $129.52 $13,707.49
Disclosure

SEC source: 0001127602-23-000695 · form4.xml · nonDerivative · entry 3

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,854.192

Read SEC document
December 29, 2022 Filed Jan 4, 2023 23:26 UTC EOG RESOURCES INC EOG · Entity 1344 GiftCommon Stock 150,000 $0.00 $0.00
Disclosure

SEC source: 0001127602-23-000695 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Family Trust

Disclosed balance after: 150,000

F1 · shares: On December 29, 2022, the Reporting Person transferred 150,000 shares of the Issuer's Common Stock to a family trust, of which the Reporting Person and his spouse are the sole beneficiaries.

Read SEC document
December 29, 2022 Filed Jan 4, 2023 23:26 UTC EOG RESOURCES INC EOG · Entity 1344 GiftCommon Stock 150,000 $0.00 $0.00
Disclosure

SEC source: 0001127602-23-000695 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,748.359

F1 · shares: On December 29, 2022, the Reporting Person transferred 150,000 shares of the Issuer's Common Stock to a family trust, of which the Reporting Person and his spouse are the sole beneficiaries.

Read SEC document
October 31, 2022 Filed Nov 1, 2022 21:48 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 232.052 $136.52 $31,679.74
Disclosure

SEC source: 0001127602-22-024648 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 160,748.359

Read SEC document
September 29, 2022 Filed Sep 30, 2022 19:58 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 116.707 $112.97 $13,184.39
Disclosure

SEC source: 0001127602-22-023117 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 160,516.307

Read SEC document
July 29, 2022 Filed Aug 1, 2022 21:51 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 282.149 $111.22 $31,380.61
Disclosure

SEC source: 0001127602-22-020054 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 160,399.6

Read SEC document
June 30, 2022 Filed Jul 1, 2022 19:36 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 136.435 $110.44 $15,067.88
Disclosure

SEC source: 0001127602-22-018451 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 160,117.451

Read SEC document
May 03, 2022 Filed May 4, 2022 21:55 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 124.08 $120.76 $14,983.90
Disclosure

SEC source: 0001127602-22-013287 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 159,981.016

Read SEC document
April 29, 2022 Filed May 2, 2022 21:53 UTC EOG RESOURCES INC EOG · Entity 1344 Disposition to issuerCommon Stock 0.754 $116.76 $88.04
Disclosure

SEC source: 0001127602-22-012885 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 159,856.936

Read SEC document
April 29, 2022 Filed May 2, 2022 21:53 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 250.268 $116.76 $29,221.29
Disclosure

SEC source: 0001127602-22-012885 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 159,857.69

Read SEC document
April 25, 2022 Filed Apr 26, 2022 19:47 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 1,610 $0.00 $0.00
Disclosure

SEC source: 0001127602-22-012506 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 159,607.422

Read SEC document
March 29, 2022 Filed Mar 30, 2022 22:14 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 46.275 $120.63 $5,582.15
Disclosure

SEC source: 0001127602-22-010676 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 157,997.422

Read SEC document
January 28, 2022 Filed Jan 31, 2022 22:46 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 264.252 $109.70 $28,988.44
Disclosure

SEC source: 0001127602-22-002586 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 157,951.147

Read SEC document
December 30, 2021 Filed Jan 4, 2022 22:33 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 116.646 $89.18 $10,402.49
Disclosure

SEC source: 0001127602-22-000604 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 157,686.895

Read SEC document
November 26, 2021 Filed Nov 29, 2021 16:39 UTC EOG RESOURCES INC EOG · Entity 1344 PurchaseCommon Stock 50,000 $86.00 $4,300,000.00
Disclosure

SEC source: 0001827021-21-000001 · primary_doc.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 157,570.249

Read SEC document
October 29, 2021 Filed Nov 1, 2021 22:13 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 292.288 $92.46 $27,024.95
Disclosure

SEC source: 0001127602-21-027986 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,570.249

Read SEC document
October 05, 2021 Filed Oct 6, 2021 20:07 UTC EOG RESOURCES INC EOG · Entity 1344 GrantCommon Stock 85.11 $87.10 $7,413.08
Disclosure

SEC source: 0001127602-21-026762 · form4.xml · nonDerivative · entry 1

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,277.961

Read SEC document
July 30, 2021 Filed Aug 3, 2021 19:55 UTC EOG RESOURCES INC EOG · Entity 1344 Disposition to issuerCommon Stock 1.208 $72.86 $88.01
Disclosure

SEC source: 0001127602-21-022894 · form4.xml · nonDerivative · entry 2

Kerr Michael T. · CIK 0001827021 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,192.851

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.