Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| Sionna Therapeutics, Inc.SION · Entity 5996 | Director | June 17, 2026 | June 18, 2026 |
| Tectonic Therapeutic, Inc.TECX · Entity 5328 | Chief Medical Officer | September 25, 2026 | October 03, 2026 |
| Upstream Bio, Inc.UPB · Entity 5743 | Director | June 09, 2026 | June 12, 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.
Sionna Therapeutics, Inc.
Report date June 17, 2026 · Filed June 18, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Non-Qualified Stock Option (right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $36.73 · Expires 2036-06-16 | Direct | 17,340 |
Reported balance
After 2026-06-17 transaction · row 1
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 1 · 2026-06-17 · Grant · Acquired 17,340 · Balance 17,340 F1: This option vests in full upon the earlier of June 17, 2027 or the date of the next annual meeting of Sionna Therapeutics, Inc., subject to the Reporting Person's continued service on such vesting date. |
Filing footnotes · ownership attribution and instrument terms
F1: This option vests in full upon the earlier of June 17, 2027 or the date of the next annual meeting of Sionna Therapeutics, Inc., subject to the Reporting Person's continued service on such vesting date.
Tectonic Therapeutic, Inc.
Report date September 25, 2026 · Filed October 03, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 67,157 |
Reported balance
After 2026-09-25 transaction · row 1
1 source rowRow 1 · 2026-09-25 · Tax withholding · Disposed 525 · Balance 67,157 F1: This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units granted on September 25, 2025. |
Filing footnotes · ownership attribution and instrument terms
F1: This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units granted on September 25, 2025.
Upstream Bio, Inc.
Report date June 09, 2026 · Filed June 12, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $6.69 · Expires 2036-06-08 | Direct | 17,096 |
Reported balance
After 2026-06-09 transaction · row 1
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 1 · 2026-06-09 · Grant · Acquired 17,096 · Balance 17,096 F1: The shares underlying this option shall vest in full upon the earlier of (i) June 9, 2027 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date. |
Filing footnotes · ownership attribution and instrument terms
F1: The shares underlying this option shall vest in full upon the earlier of (i) June 9, 2027 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date.
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 |
|---|---|---|---|---|---|---|
| September 25, 2026 Filed Oct 3, 2026 00:59 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | Tax withholdingCommon Stock | 525 | $23.67 | $12,426.75 |
DisclosureSEC source: 0002023849-26-000014 · form4-10022026_081032.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 67,157 F1 · shares: This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units granted on September 25, 2025. Read SEC document |
| September 03, 2026 Filed Sep 8, 2026 20:45 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 24,250 | $0.00 Strike: $29.92 | $0.00 |
DisclosureSEC source: 0002023849-26-000012 · form4-09082026_040903.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 24,250 Underlying: Common Stock · 24,250 shares Expires 2036-09-02 F1 · derivative.exercise_date: 1/8th of the shares subject to the option vest on September 3, 2026 with the remaining shares subject to the option vesting in the following 42 equal monthly installments beginning on October 3, 2026, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| June 17, 2026 Filed Jun 18, 2026 21:39 UTC | Sionna Therapeutics, Inc. SION · Entity 5996 | GrantNon-Qualified Stock Option (right to buy) · Derivative | 17,340 | $0.00 Strike: $36.73 | $0.00 |
DisclosureSEC source: 0002023849-26-000010 · edgardoc.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 17,340 Underlying: Common Stock · 17,340 shares Expires 2036-06-16 F1 · derivative.exercise_date: This option vests in full upon the earlier of June 17, 2027 or the date of the next annual meeting of Sionna Therapeutics, Inc., subject to the Reporting Person's continued service on such vesting date. Read SEC document |
| June 09, 2026 Filed Jun 12, 2026 00:00 UTC | Upstream Bio, Inc. UPB · Entity 5743 | GrantStock Option (Right to Buy) · Derivative | 17,096 | $0.00 Strike: $6.69 | $0.00 |
DisclosureSEC source: 0001193125-26-268169 · ownership.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 17,096 Underlying: Common Stock · 17,096 shares Expires 2036-06-08 F1 · derivative.exercise_date: The shares underlying this option shall vest in full upon the earlier of (i) June 9, 2027 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date. Read SEC document |
| May 04, 2026 Filed May 6, 2026 21:00 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | SaleCommon Stock | 1,065 | $30.00 | $31,950.00 |
DisclosureSEC source: 0002023849-26-000008 · form4-05062026_050501.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 67,682 F1 · kind: This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on April 8, 2025. Read SEC document |
| April 01, 2026 Filed Apr 3, 2026 20:24 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | SaleCommon Stock | 1,000 | $31.05 | $31,050.00 |
DisclosureSEC source: 0002023849-26-000006 · form4-04032026_080442.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 68,747 F1 · kind: This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on April 8, 2025. Read SEC document |
| March 06, 2026 Filed Mar 9, 2026 22:15 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | SaleCommon Stock | 10,000 | $30.00 | $300,000.00 |
DisclosureSEC source: 0002023849-26-000004 · form4-03092026_100315.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 69,747 F1 · kind: This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on April 8, 2025. Read SEC document |
| March 04, 2026 Filed Mar 5, 2026 22:42 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 24,250 | $0.00 Strike: $27.41 | $0.00 |
DisclosureSEC source: 0002023849-26-000003 · form4-03052026_100303.xml · derivative · entry 2 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 24,250 Underlying: Common Stock · 24,250 shares Expires 2036-03-03 F2 · derivative.exercise_date: The shares subject to the option vest in 48 equal monthly installments beginning on April 4, 2026, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| March 04, 2026 Filed Mar 5, 2026 22:42 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantCommon Stock | 26,500 | $0.00 | $0.00 |
DisclosureSEC source: 0002023849-26-000003 · form4-03052026_100303.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 79,747 F1 · shares: These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. The shares shall vest in 3 equal annual installments on each of March 4, 2027, March 4, 2028 and March 4, 2029, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| February 04, 2026 Filed Feb 10, 2026 21:09 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | Tax withholdingCommon Stock | 2,064 | $23.22 | $47,926.08 |
DisclosureSEC source: 0002023849-26-000002 · form4-02102026_090218.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 53,247 F1 · shares: This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units granted on February 4, 2025. Read SEC document |
| September 25, 2025 Filed Sep 29, 2025 21:00 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 9,750 | $0.00 Strike: $14.71 | $0.00 |
DisclosureSEC source: 0002023849-25-000003 · form4-09292025_050903.xml · derivative · entry 2 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 9,750 Underlying: Common Stock · 9,750 shares Expires 2035-09-24 F2 · derivative.exercise_date: The shares subject to the option vest in 48 equal monthly installments beginning on October 25, 2025, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| September 25, 2025 Filed Sep 29, 2025 21:00 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantCommon Stock | 5,370 | $0.00 | $0.00 |
DisclosureSEC source: 0002023849-25-000003 · form4-09292025_050903.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 55,311 F1 · shares: These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. The shares shall vest in 3 equal annual installments on each of September 25, 2026, September 25, 2027 and September 25, 2028, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| June 12, 2025 Filed Jun 16, 2025 21:07 UTC | Sionna Therapeutics, Inc. SION · Entity 5996 | GrantNon-Qualified Stock Option (right to buy) · Derivative | 19,959 | $0.00 Strike: $16.99 | $0.00 |
DisclosureSEC source: 0002036042-25-000031 · edgardoc.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 19,959 Underlying: Common Stock · 19,959 shares Expires 2035-06-11 F1 · derivative.exercise_date: This option vests in full upon the earlier of June 12, 2026 or the date of the next annual meeting of Sionna Therapeutics, Inc., subject to the Reporting Person's continued service on such vesting date. Read SEC document |
| June 10, 2025 Filed Jun 12, 2025 20:17 UTC | Upstream Bio, Inc. UPB · Entity 5743 | GrantStock Option (Right to Buy) · Derivative | 17,096 | $0.00 Strike: $11.59 | $0.00 |
DisclosureSEC source: 0000950170-25-085382 · ownership.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 17,096 Underlying: Common Stock · 17,096 shares Expires 2035-06-09 F1 · derivative.exercise_date: The shares underlying this option shall vest upon the earlier of (i) June 10, 2026 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date. Read SEC document |
| February 06, 2025 Filed Feb 10, 2025 21:05 UTC | Sionna Therapeutics, Inc. SION · Entity 5996 | GrantStock Option (Right to Buy) · Derivative | 39,919 | $0.00 Strike: $18.00 | $0.00 |
DisclosureSEC source: 0000950170-25-017037 · ownership.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 39,919 Underlying: Common Stock · 39,919 shares Expires 2035-02-05 F1 · derivative.exercise_date: The shares underlying this option vest in three equal annual installments following February 6, 2025, subject to the Reporting Person's continued service on each such vesting date. Read SEC document |
| February 04, 2025 Filed Feb 6, 2025 21:05 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 32,502 | $0.00 Strike: $48.01 | $0.00 |
DisclosureSEC source: 0001415889-25-003226 · form4-02062025_040203.xml · derivative · entry 2 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 32,502 Underlying: Common Stock · 32,502 shares Expires 2035-02-03 F2 · derivative.exercise_date: The shares subject to the option vest in 48 equal monthly installments beginning on March 4, 2025, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| February 04, 2025 Filed Feb 6, 2025 21:05 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantCommon Stock | 17,876 | $0.00 | $0.00 |
DisclosureSEC source: 0001415889-25-003226 · form4-02062025_040203.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 49,941 F1 · shares: These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. The shares shall vest in 3 equal annual installments on each of February 4, 2026, February 4, 2027 and February 4, 2028, subject to the Reporting Person's continued service to the Issuer on each such vesting date. Read SEC document |
| October 10, 2024 Filed Oct 15, 2024 20:15 UTC | Upstream Bio, Inc. UPB · Entity 5743 | GrantStock Option (Right to Buy) · Derivative | 17,096 | $0.00 Strike: $17.00 | $0.00 |
DisclosureSEC source: 0000950170-24-114684 · ownership.xml · derivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 17,096 Underlying: Common Stock · 17,096 shares Expires 2034-10-09 F1 · derivative.exercise_date: The shares underlying this option shall vest upon the earlier of (i) October 10, 2025 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date. Read SEC document |
| June 20, 2024 Filed Jun 24, 2024 20:22 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 81,700 | $0.00 Strike: $16.80 | $0.00 |
DisclosureSEC source: 0001415889-24-017964 · form4-06242024_080626.xml · derivative · entry 4 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 81,700 Underlying: Common Stock · 81,700 shares Expires 2034-06-19 F7 · derivative.exercise_date: The shares subject to the option vest as to 25% of the shares on June 20, 2025 with the remainder vesting in the following 36 equal monthly installments, subject to the Reporting Person's continued service on each such vesting date Read SEC document |
| June 20, 2024 Filed Jun 24, 2024 20:22 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 18,704 | Not disclosed Strike: $5.38 | Not disclosed |
DisclosureSEC source: 0001415889-24-017964 · form4-06242024_080626.xml · derivative · entry 3 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 18,704 Underlying: Common Stock · 18,704 shares Expires 2033-11-30 F2 · derivative.exercise_price: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F2 · shares: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F2 · price: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F6 · price: Received in exchange for a stock option to acquire 35,000 shares of Tectonic common stock pursuant to the Merger Agreement. F5 · derivative.exercise_date: The shares subject to the option vest in 48 equal monthly installments beginning on December 1, 2023, subject to the Reporting Person's continued service to the Issuer on each such vesting date F2 · derivative.underlying_shares: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. Read SEC document |
| June 20, 2024 Filed Jun 24, 2024 20:22 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantEmployee Stock Option (Right to Buy) · Derivative | 43,946 | Not disclosed Strike: $2.38 | Not disclosed |
DisclosureSEC source: 0001415889-24-017964 · form4-06242024_080626.xml · derivative · entry 2 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 43,946 Underlying: Common Stock · 43,946 shares Expires 2031-09-16 F2 · derivative.exercise_price: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F2 · shares: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F2 · price: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. F4 · price: Received in exchange for a stock option to acquire 82,233 shares of Tectonic common stock pursuant to the Merger Agreement. F3 · derivative.exercise_date: 23,360 of the shares subject to the option are immediately exercisable and the remainder vest in 13 equal monthly installments beginning on July 19, 2024, subject to the Reporting Person's continued service to the Issuer on each such vesting date. F2 · derivative.underlying_shares: Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split. Read SEC document |
| June 20, 2024 Filed Jun 24, 2024 20:22 UTC | Tectonic Therapeutic, Inc. TECX · Entity 5328 | GrantCommon Stock | 32,065 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001415889-24-017964 · form4-06242024_080626.xml · nonDerivative · entry 1 Ruddy Marcella K. · CIK 0002023849 · Chief Medical Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 32,065 F1 · price: Received in exchange for 60,000 shares of common stock of Tectonic Therapeutic, Inc., a Delaware corporation ("Tectonic"), pursuant to an Agreement and Plan of Merger dated as of January 30, 2024 (the "Merger Agreement") by and among AVROBIO, Inc., a Delaware corporation ("AVROBIO"), Tectonic and Alpine Merger Subsidiary, Inc., a direct, wholly owned subsidiary of AVROBIO (the "Merger Sub"). Under the terms of the Merger Agreement, on June 20, 2024, Merger Sub merged with and into Tectonic (the "Merger"), with Tectonic surviving the Merger as a wholly owned subsidiary of AVROBIO. Upon the closing of the Merger, each share of Tectonic common stock was converted into the right to receive 0.534419990 shares of the Issuer's common stock, after giving effect to a reverse stock split of the Issuer's common stock of 1-for-12. Subsequent to the Merger, the name of the Issuer was changed from AVROBIO, Inc. to Tectonic Therapeutic, Inc. 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.