Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| Aegerion Pharmaceuticals, Inc.AEGR · Entity 180735 | EVP, Research and Development | November 01, 2016 | November 04, 2016 |
| NOVELION THERAPEUTICS INC.NVLN · Entity 152369 | Director | August 09, 2018 | August 13, 2018 |
| Zenas BioPharma, Inc.ZBIO · Entity 275 | Director | June 15, 2026 | June 17, 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.
Aegerion Pharmaceuticals, Inc.
Report date November 01, 2016 · Filed November 04, 2016
This filing explicitly reported no securities owned.
NOVELION THERAPEUTICS INC.
Report date August 09, 2018 · Filed August 13, 2018
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $3.33 · Expires 2028-08-09 | Direct | 10,000 |
Reported balance
After 2018-08-09 transaction · row 1
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 1 · 2018-08-09 · Grant · Acquired 10,000 · Balance 10,000 F1: Each option has an exercise price equal to the closing price of a common share of the Issuer on the Nasdaq Global Select Market on the grant date. F2: The option shall vest in twelve equal monthly installments, beginning one month after the grant date. |
Filing footnotes · ownership attribution and instrument terms
F1: Each option has an exercise price equal to the closing price of a common share of the Issuer on the Nasdaq Global Select Market on the grant date.
F2: The option shall vest in twelve equal monthly installments, beginning one month after the grant date.
Zenas BioPharma, Inc.
Report date June 15, 2026 · Filed June 17, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $18.71 · Expires 2036-06-15 | Direct | 18,500 |
Reported balance
After 2026-06-15 transaction · row 1
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 1 · 2026-06-15 · Grant · Acquired 18,500 · Balance 18,500 F1: The option vests as to 100% of the underlying shares of common stock on June 15, 2027, the first anniversary of the vesting commencement date, subject to continued service. |
Filing footnotes · ownership attribution and instrument terms
F1: The option vests as to 100% of the underlying shares of common stock on June 15, 2027, the first anniversary of the vesting commencement date, subject to continued service.
Past disclosures · reporting ended (1)
No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.
ALEXION PHARMACEUTICALS, INC.
Report date July 21, 2021 · Filed July 23, 2021
Section 16 reporting ended · disclosed 2021-07-23. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common Stock, par value $.0001 per shareSEC Table I · non-derivative | Direct | 0 |
Reported balance
After 2021-07-21 transaction · row 1
1 source rowRow 1 · 2021-07-21 · Disposition to issuer · Disposed 146,511 · Balance 0 F1: Represents shares of Alexion common stock disposed in connection with the Agreement and Plan of Merger (the "Merger Agreement") dated as of December 12, 2020, by and among Alexion and AstraZeneca PLC. In accordance with the Merger Agreement, upon the First Effective Time (as defined in the Merger Agreement), each share of Alexion common stock was converted into the right to receive (i) 2.1423 American Depositary Shares (ADSs) of AstraZeneca PLC and (ii) $60.00 in cash (the "Merger Consideration"). |
Filing footnotes · ownership attribution and instrument terms
F1: Represents shares of Alexion common stock disposed in connection with the Agreement and Plan of Merger (the "Merger Agreement") dated as of December 12, 2020, by and among Alexion and AstraZeneca PLC. In accordance with the Merger Agreement, upon the First Effective Time (as defined in the Merger Agreement), each share of Alexion common stock was converted into the right to receive (i) 2.1423 American Depositary Shares (ADSs) of AstraZeneca PLC and (ii) $60.00 in cash (the "Merger Consideration").
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 |
|---|---|---|---|---|---|---|
| June 15, 2026 Filed Jun 17, 2026 22:02 UTC | Zenas BioPharma, Inc. ZBIO · Entity 275 | GrantStock Option (Right to Buy) · Derivative | 18,500 | $0.00 Strike: $18.71 | $0.00 |
DisclosureSEC source: 0001104659-26-075255 · tm2618042-7_4seq1.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 18,500 Underlying: Common Stock · 18,500 shares Expires 2036-06-15 F1 · derivative.exercise_date: The option vests as to 100% of the underlying shares of common stock on June 15, 2027, the first anniversary of the vesting commencement date, subject to continued service. Read SEC document |
| June 10, 2025 Filed Jun 12, 2025 20:32 UTC | Zenas BioPharma, Inc. ZBIO · Entity 275 | GrantStock Option (Right to Buy) · Derivative | 18,500 | $0.00 Strike: $11.94 | $0.00 |
DisclosureSEC source: 0001104659-25-058922 · tm2517684-3_4seq1.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 18,500 Underlying: Common Stock · 18,500 shares Expires 2035-06-10 F1 · derivative.exercise_date: The option vests as to 100% of the underlying shares of common stock on June 10, 2026, the first anniversary of the vesting commencement date, subject to continued service. Read SEC document |
| September 12, 2024 Filed Sep 17, 2024 01:05 UTC | Zenas BioPharma, Inc. ZBIO · Entity 275 | GrantStock Option (Right to Buy) · Derivative | 18,500 | $0.00 Strike: $17.00 | $0.00 |
DisclosureSEC source: 0001104659-24-100339 · tm2424157-2_4seq1.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 18,500 Underlying: Common Stock · 18,500 shares Expires 2034-09-11 F1 · derivative.exercise_date: The option vests as to 100% of the underlying shares of common stock on September 12, 2025, the first anniversary of the vesting commencement date, subject to continued service. Read SEC document |
| July 21, 2021 Filed Jul 23, 2021 16:29 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Disposition to issuerCommon Stock, par value $.0001 per share | 146,511 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-21-000062 · wf-form4_162707216366619.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 F1 · shares: Represents shares of Alexion common stock disposed in connection with the Agreement and Plan of Merger (the "Merger Agreement") dated as of December 12, 2020, by and among Alexion and AstraZeneca PLC. In accordance with the Merger Agreement, upon the First Effective Time (as defined in the Merger Agreement), each share of Alexion common stock was converted into the right to receive (i) 2.1423 American Depositary Shares (ADSs) of AstraZeneca PLC and (ii) $60.00 in cash (the "Merger Consideration"). Read SEC document |
| July 14, 2021 Filed Jul 16, 2021 16:48 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 29,501 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-21-000054 · wf-form4_162646847074936.xml · nonDerivative · entry 2 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 146,511 F2 · shares: On July 14, 2021 the Leadership and Compensation Committee certified that certain performance metrics under previously granted performance stock units were satisfied. These performance stock units were previously granted in February 2020 under the 2017 Stock Incentive Plan. Read SEC document |
| July 14, 2021 Filed Jul 16, 2021 16:48 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 30,643 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-21-000054 · wf-form4_162646847074936.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 117,010 F1 · shares: On July 14, 2021 the Leadership and Compensation Committee certified that certain performance metrics under previously granted performance stock units were satisfied. These performance stock units were previously granted in February 2019 under the 2017 Stock Incentive Plan. Read SEC document |
| June 08, 2021 Filed Jun 9, 2021 16:53 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 1,957 | $177.00 | $346,389.00 |
DisclosureSEC source: 0000899866-21-000050 · wf-form4_162327201970263.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 86,367 F1 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. Read SEC document |
| February 28, 2021 Filed Mar 2, 2021 17:50 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 24,473 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-21-000023 · wf-form4_161472540804716.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 88,324 F1 · shares: Award of Restricted Stock Units under the 2017 Incentive Plan. 25% vests on each anniversary of the grant date. Read SEC document |
| December 16, 2020 Filed Dec 18, 2020 17:06 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 3,261 | $157.96 | $515,107.56 |
DisclosureSEC source: 0000899866-20-000093 · wf-form4_160832918352160.xml · nonDerivative · entry 3 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 63,811 F3 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. Read SEC document |
| December 16, 2020 Filed Dec 18, 2020 17:06 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 18,134 | $157.96 | $2,864,446.64 |
DisclosureSEC source: 0000899866-20-000093 · wf-form4_160832918352160.xml · nonDerivative · entry 2 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 67,072 F2 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Performance Stock Units. Read SEC document |
| December 16, 2020 Filed Dec 18, 2020 17:06 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 40,677 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-20-000093 · wf-form4_160832918352160.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 85,206 F1 · shares: Shares acquired on vesting of Performance Stock Units previously granted on February 28, 2018 under the 2017 Stock Incentive Plan. Read SEC document |
| December 15, 2020 Filed Dec 18, 2020 17:06 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 40 | $93.53 | $3,741.20 |
DisclosureSEC source: 0000899866-20-000093 · wf-form4_160832918352160.xml · nonDerivative · entry 4 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 63,851 F4 · shares: In accordance with the Alexion ESPP, these shares were purchased (for the ESPP purchase period from July 1, 2020 to December 15, 2020) based on 85% of the share price on July 1, 2020. Read SEC document |
| June 08, 2020 Filed Jun 9, 2020 16:59 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 2,784 | $114.61 | $319,074.24 |
DisclosureSEC source: 0000899866-20-000063 · wf-form4_159173638161609.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 44,529 F1 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. Read SEC document |
| March 02, 2020 Filed Mar 3, 2020 18:26 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 1,396 | $90.54 | $126,393.84 |
DisclosureSEC source: 0000899866-20-000023 · wf-form4_158327798024153.xml · nonDerivative · entry 2 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 47,275 F2 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. F3 · price: This transaction was executed in multiple trades through a broker-dealer at prices ranging from $90.48 - $92.45. The price reported in this column reflects the weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of shares sold at each price. Read SEC document |
| February 28, 2020 Filed Mar 3, 2020 18:26 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 10,880 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-20-000023 · wf-form4_158327798024153.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 48,671 F1 · shares: Award of Restricted Stock Units under the 2017 Incentive Plan. 25% vests on each anniversary of the grant date. Read SEC document |
| December 15, 2019 Filed Mar 3, 2020 18:26 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 38 | $93.86 | $3,566.68 |
DisclosureSEC source: 0000899866-20-000023 · wf-form4_158327798024153.xml · nonDerivative · entry 3 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 47,313 F4 · shares: In accordance with the Alexion ESPP, these shares were purchased (for the ESPP purchase period from June 30, 2019 to December 15, 2019) based on 85% of the closing price of the Issuer's common stock on December 15, 2019. Read SEC document |
| June 07, 2019 Filed Jun 11, 2019 18:39 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 2,786 | $118.61 | $330,447.46 |
DisclosureSEC source: 0000899866-19-000077 · wf-form4_156029278196014.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 37,791 F1 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. Read SEC document |
| February 28, 2019 Filed Mar 4, 2019 17:42 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | Tax withholdingCommon Stock, par value $.0001 per share | 675 | $132.92 | $89,721.00 |
DisclosureSEC source: 0000899866-19-000041 · wf-form4_155173932177992.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 31,115 F1 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. F2 · price: This transaction was executed in multiple trades through a broker-dealer at prices ranging from $132.90- $135.01. The price reported in this column reflects the weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of shares sold at each price. Read SEC document |
| February 28, 2019 Filed Mar 5, 2019 20:18 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 9,428 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-19-000048 · wf-form4_155183507279607.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 40,577 F1 · shares: Award of Restricted Stock Units under the 2017 Incentive Plan. 25% vests on each anniversary of the grant date. Read SEC document |
| December 15, 2018 Filed Mar 4, 2019 17:42 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 34 | $93.01 | $3,162.34 |
DisclosureSEC source: 0000899866-19-000041 · wf-form4_155173932177992.xml · nonDerivative · entry 2 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 31,149 F3 · shares: In accordance with the Alexion ESPP, these shares were purchased (for the ESPP purchase period from June 30, 2018 to December 15, 2018) based on 85% of the closing price of the Issuer's common stock on December 15, 2018. Read SEC document |
| August 09, 2018 Filed Aug 13, 2018 16:31 UTC | NOVELION THERAPEUTICS INC. NVLN · Entity 152369 | GrantStock Option (Right to Buy) · Derivative | 10,000 | $0.00 Strike: $3.33 | $0.00 |
DisclosureSEC source: 0001104659-18-051506 · a4.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 10,000 Underlying: Common Shares · 10,000 shares Expires 2028-08-09 F1 · derivative.exercise_price: Each option has an exercise price equal to the closing price of a common share of the Issuer on the Nasdaq Global Select Market on the grant date. F2 · derivative.exercise_date: The option shall vest in twelve equal monthly installments, beginning one month after the grant date. Read SEC document |
| June 08, 2018 Filed Jun 12, 2018 16:51 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | SaleCommon Stock, par value $.0001 per share | 2,115 | $118.53 | $250,690.95 |
DisclosureSEC source: 0000899866-18-000101 · wf-form4_152883664251133.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 31,790 F1 · shares: This sale was made to cover withholding taxes immediately following the vesting of previously granted Restricted Stock Units. Read SEC document |
| February 28, 2018 Filed Mar 2, 2018 17:00 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 8,940 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-18-000059 · wf-form4_152002801458348.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 33,905 F1 · shares: Award of Restricted Stock Units under the 2017 Incentive Plan. 25% vests on each anniversary of the grant date. Read SEC document |
| July 03, 2017 Filed Jul 5, 2017 16:01 UTC | NOVELION THERAPEUTICS INC. NVLN · Entity 152369 | GrantStock Option (Right to Buy) · Derivative | 9,600 | $0.00 Strike: $9.37 | $0.00 |
DisclosureSEC source: 0001104659-17-043555 · a4.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 9,600 Underlying: Common Shares · 9,600 shares Expires 2027-07-03 F1 · derivative.exercise_price: Each option has an exercise price equal to the closing price of a common share of the Issuer on the Nasdaq Global Select Market on the grant date. F2 · derivative.exercise_date: The common shares underlying this stock option award will vest in equal monthly installments over 36 months, beginning one month after the grant date. Read SEC document |
| June 07, 2017 Filed Jun 9, 2017 18:34 UTC | ALEXION PHARMACEUTICALS, INC. ALXN · Entity 137086 | GrantCommon Stock, par value $.0001 per share | 24,965 | $0.00 | $0.00 |
DisclosureSEC source: 0000899866-17-000133 · wf-form4_149704765549250.xml · nonDerivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · EVP, Research & Development 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 24,965 F1 · shares: Award of Restricted Stock Units under the 2017 Incentive Plan. 25% vest on each anniversary of the grant date. Read SEC document |
| December 22, 2016 Filed Dec 27, 2016 16:04 UTC | NOVELION THERAPEUTICS INC. NVLN · Entity 152369 | GrantStock Option (right to buy) · Derivative | 166,020 | $0.00 Strike: $8.65 | $0.00 |
DisclosureSEC source: 0001104659-16-163870 · a4.xml · derivative · entry 1 ORLOFF JOHN J · CIK 0001643941 · See Remarks 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 166,020 Underlying: Common Shares · 166,020 shares Expires 2016-12-22 F1 · derivative.exercise_price: Each option has an exercise price equal to the closing price of a common share of the Issuer on the Nasdaq Global Select Market on the grant date. F2 · derivative.exercise_date: Subject, with limited exceptions, to the Reporting Person's continued employment with the Issuer or one of its affiliates, the common shares underlying this stock option award will vest in three equal installments on December 22, 2017, December 22, 2018 and December 22, 2019. 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.