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Jobe James R

Disclosed activity across 1 company

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40270
SEC CIK
0001362322

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
NATIONAL HEALTH INVESTORS INCNHI · Entity 4125DirectorJune 05, 2026June 09, 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.

NATIONAL HEALTH INVESTORS INC

Report date June 05, 2026 · Filed June 09, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect33,272 Reported balance After 2026-06-05 transaction · row 1 Holding and transaction disclosures are not merged.
1 source row

Row 1 · 2026-06-05 · Gift · Disposed 225 · Balance 33,272

Common StockSEC Table I · non-derivativeDirect1,268 Reported balance Holding disclosure · report date 2026-06-05 · row 2 Holding and transaction disclosures are not merged.
1 source row

Row 2 · Balance 1,268

Common StockSEC Table I · non-derivativeDirect500 Reported balance Holding disclosure · report date 2026-06-05 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 500

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
June 05, 2026 Filed Jun 9, 2026 21:11 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GiftCommon Stock 225 $0.00 $0.00
Disclosure

SEC source: 0000877860-26-000156 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,272

Read SEC document
March 03, 2026 Filed Mar 5, 2026 22:17 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantCommon Stock 1,268 $0.00 $0.00
Disclosure

SEC source: 0000877860-26-000076 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,268

F1 · shares: Represents a grant of restricted stock awarded on March 3, 2026, which vests in full on March 3, 2027, subject to the reporting person's continued service as a director through such date.

Read SEC document
February 17, 2026 Filed Feb 19, 2026 22:50 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option (Right to Buy) 2025 · Derivative 10,000 $0.00 Strike: $73.34 $0.00
Disclosure

SEC source: 0000877860-26-000024 · form4.xml · derivative · entry 4

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2030-03-03

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.

Read SEC document
February 17, 2026 Filed Feb 19, 2026 22:50 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 8,058 $91.02 $733,439.16
Disclosure

SEC source: 0000877860-26-000024 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,497

Read SEC document
February 17, 2026 Filed Feb 19, 2026 22:50 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 10,000 $73.34 $733,400.00
Disclosure

SEC source: 0000877860-26-000024 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 41,555

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 20, 2025 Filed Nov 24, 2025 21:37 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Options (Right to Buy) 2-25-2021 · Derivative 25,000 $0.00 Strike: $69.20 $0.00
Disclosure

SEC source: 0000877860-25-000192 · form4.xml · derivative · entry 5

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 25,000 shares

Expires 2026-02-25

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 20, 2025 Filed Nov 24, 2025 21:37 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 22,135 $78.16 $1,730,071.60
Disclosure

SEC source: 0000877860-25-000192 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 31,555

Read SEC document
November 20, 2025 Filed Nov 24, 2025 21:37 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 25,000 $69.20 $1,730,000.00
Disclosure

SEC source: 0000877860-25-000192 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 53,690

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
March 03, 2025 Filed Mar 5, 2025 23:27 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option (Right to Buy) 2025 · Derivative 10,000 $0.00 Strike: $73.34 $0.00
Disclosure

SEC source: 0001127602-25-008389 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,000

Underlying: Common Stock · 10,000 shares

Expires 2030-03-03

Read SEC document
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option (Right to Buy) 2024 · Derivative 10,000 $0.00 Strike: $57.76 $0.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · derivative · entry 7

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2029-02-23

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.

Read SEC document
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option (Right to Buy) 2023 · Derivative 10,000 $0.00 Strike: $54.73 $0.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · derivative · entry 6

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,000 shares

Expires 2028-02-24

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
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option (Right to buy) 2022 · Derivative 25,000 $0.00 Strike: $53.41 $0.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · derivative · entry 5

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 25,000 shares

Expires 2027-02-25

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
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 31,289 $78.63 $2,460,254.07
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · nonDerivative · entry 4

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 28,690

F1 · balance_after: Acquired due to the net exercise of stock options granted 2/25/22, 2/24/23 and 2/23/24 with shares withheld by the Company to cover the exercise price. This transaction was completed subsequent to the execution of a Lock-Up Agreement and shares received are subject to the provisions of that agreement.

Read SEC document
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 10,000 $57.76 $577,600.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · nonDerivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 59,979

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 · balance_after: Acquired due to the net exercise of stock options granted 2/25/22, 2/24/23 and 2/23/24 with shares withheld by the Company to cover the exercise price. This transaction was completed subsequent to the execution of a Lock-Up Agreement and shares received are subject to the provisions of that agreement.

Read SEC document
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 10,000 $54.73 $547,300.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,979

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 · balance_after: Acquired due to the net exercise of stock options granted 2/25/22, 2/24/23 and 2/23/24 with shares withheld by the Company to cover the exercise price. This transaction was completed subsequent to the execution of a Lock-Up Agreement and shares received are subject to the provisions of that agreement.

Read SEC document
August 23, 2024 Filed Aug 27, 2024 21:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 25,000 $53.41 $1,335,250.00
Disclosure

SEC source: 0001127602-24-023009 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,979

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 · balance_after: Acquired due to the net exercise of stock options granted 2/25/22, 2/24/23 and 2/23/24 with shares withheld by the Company to cover the exercise price. This transaction was completed subsequent to the execution of a Lock-Up Agreement and shares received are subject to the provisions of that agreement.

Read SEC document
February 23, 2024 Filed Feb 27, 2024 20:19 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option (Right to Buy) 2024 · Derivative 10,000 $0.00 Strike: $57.76 $0.00
Disclosure

SEC source: 0001127602-24-007080 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,000

Underlying: Common Stock · 10,000 shares

Expires 2029-02-23

Read SEC document
August 30, 2023 Filed Aug 31, 2023 22:16 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 PurchaseCommon Stock - Jointly held with spouse 1,000 $51.40 $51,398.20
Disclosure

SEC source: 0001127602-23-023497 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,979

Read SEC document
February 24, 2023 Filed Feb 28, 2023 23:42 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option (Right to Buy) 2023 · Derivative 10,000 $0.00 Strike: $54.73 $0.00
Disclosure

SEC source: 0001127602-23-007618 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

Underlying: Common Stock · 10,000 shares

Expires 2028-02-24

Read SEC document
February 25, 2022 Filed Mar 1, 2022 20:05 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option (Right to buy) 2022 · Derivative 25,000 $53.41 Strike: $53.41 $1,335,250.00
Disclosure

SEC source: 0001127602-22-007268 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires 2027-02-25

Read SEC document
February 25, 2021 Filed Mar 1, 2021 21:43 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Options (Right to Buy) 2-25-2021 · Derivative 25,000 $0.00 Strike: $69.20 $0.00
Disclosure

SEC source: 0001127602-21-008383 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires 2026-02-25

Read SEC document
February 21, 2020 Filed Feb 26, 2020 00:09 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Options (Right to Buy) 2-21-2020 · Derivative 25,000 $90.79 Strike: $90.79 $2,269,750.00
Disclosure

SEC source: 0001127602-20-007736 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires 2025-02-21

Read SEC document
February 07, 2020 Filed Feb 11, 2020 22:42 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option Grant 2-21-19 · Derivative 25,000 $0.00 Strike: $79.96 $0.00
Disclosure

SEC source: 0001127602-20-004935 · form4.xml · derivative · entry 4

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 25,000 shares

Expires 2024-02-21

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 07, 2020 Filed Feb 11, 2020 22:42 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 23,073 $86.64 $1,999,044.72
Disclosure

SEC source: 0001127602-20-004935 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,979

Read SEC document
February 07, 2020 Filed Feb 11, 2020 22:42 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 25,000 $79.96 $1,999,000.00
Disclosure

SEC source: 0001127602-20-004935 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,052

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
September 24, 2019 Filed Sep 25, 2019 21:50 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 SaleCommon Stock - Jointly held with spouse 900 $83.23 $74,911.14
Disclosure

SEC source: 0001127602-19-029115 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,052

Read SEC document
February 21, 2019 Filed Feb 26, 2019 00:26 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option Grant 2-21-19 · Derivative 25,000 $79.96 Strike: $79.96 $1,999,000.00
Disclosure

SEC source: 0001127602-19-008173 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires 2024-02-21

Read SEC document
August 07, 2018 Filed Aug 9, 2018 20:46 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Options (Right to Buy) 2-20-18 · Derivative 20,000 $0.00 Strike: $64.33 $0.00
Disclosure

SEC source: 0001127602-18-025076 · form4.xml · derivative · entry 4

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 20,000 shares

Expires 2023-02-20

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.

Read SEC document
August 07, 2018 Filed Aug 9, 2018 20:46 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 16,493 $78.01 $1,286,618.93
Disclosure

SEC source: 0001127602-18-025076 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,952

Read SEC document
August 07, 2018 Filed Aug 9, 2018 20:46 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 20,000 $64.33 $1,286,600.00
Disclosure

SEC source: 0001127602-18-025076 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,445

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 20, 2018 Filed Feb 22, 2018 22:36 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Options (Right to Buy) 2-20-18 · Derivative 20,000 $64.33 Strike: $64.33 $1,286,600.00
Disclosure

SEC source: 0001127602-18-007793 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

Underlying: Common Stock · 20,000 shares

Expires 2023-02-20

Read SEC document
September 01, 2017 Filed Feb 15, 2018 21:17 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GiftCommon Stock - Jointly held with spouse 140 $0.00 $0.00
Disclosure

SEC source: 0001127602-18-006374 · form5.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,445

Read SEC document
July 03, 2017 Filed Jul 6, 2017 15:53 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionStock Option Grant - 2-22-17 · Derivative 20,000 $0.00 Strike: $74.78 $0.00
Disclosure

SEC source: 0001127602-17-023239 · form4.xml · derivative · entry 4

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 20,000 shares

Expires 2022-02-22

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
July 03, 2017 Filed Jul 6, 2017 15:53 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Tax withholdingCommon Stock - Jointly held with spouse 18,531 $80.71 $1,495,637.01
Disclosure

SEC source: 0001127602-17-023239 · form4.xml · nonDerivative · entry 2

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,585

Read SEC document
July 03, 2017 Filed Jul 6, 2017 15:53 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 Exercise / conversionCommon Stock - Jointly held with spouse 20,000 $74.78 $1,495,600.00
Disclosure

SEC source: 0001127602-17-023239 · form4.xml · nonDerivative · entry 1

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,116

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 22, 2017 Filed Feb 24, 2017 22:28 UTC NATIONAL HEALTH INVESTORS INC NHI · Entity 4125 GrantStock Option Grant - 2-22-17 · Derivative 20,000 $74.78 Strike: $74.78 $1,495,600.00
Disclosure

SEC source: 0001127602-17-008262 · form4.xml · derivative · entry 3

Jobe James R · CIK 0001362322 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

Underlying: Common Stock · 20,000 shares

Expires 2022-02-22

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.