Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| Mondelez International, Inc.MDLZ · Entity 2953 | Director | May 20, 2026 | May 21, 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.
Mondelez International, Inc.
Report date May 20, 2026 · Filed May 21, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Class A Common StockSEC Table I · non-derivative | Direct | 19,293 |
Reported balance
After 2026-05-20 transaction · row 1
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 1 · 2026-05-20 · Grant · Acquired 3,525 · Balance 19,293 F1: Grant of deferred stock units under the Issuer's 2024 Performance Incentive Plan. The deferred stock units are 100% vested, but receipt of the shares is deferred until the six-month anniversary of the reporting person's separation from service as a director of Mondelez International. F2: Total number of shares owned includes approximately 1,283 shares acquired through a dividend reinvestment program. |
Filing footnotes · ownership attribution and instrument terms
F1: Grant of deferred stock units under the Issuer's 2024 Performance Incentive Plan. The deferred stock units are 100% vested, but receipt of the shares is deferred until the six-month anniversary of the reporting person's separation from service as a director of Mondelez International.
F2: Total number of shares owned includes approximately 1,283 shares acquired through a dividend reinvestment program.
Past disclosures · reporting ended (2)
No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.
PINNACLE FOODS INC.
Report date October 26, 2018 · Filed October 26, 2018
Section 16 reporting ended · disclosed 2018-10-26. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common Stock, par value $0.01SEC Table I · non-derivative | Direct | 0 |
Reported balance
After 2018-10-26 transaction · row 1
Sequence does not reconcile; account continuity is unresolved.
1 source rowRow 1 · 2018-10-26 · Disposition to issuer · Disposed 12,089 · Balance 0 F1: Pursuant to the Agreement and Plan of Merger, dated as of June 26, 2018, as it may be amended from time to time (the "Merger Agreement"), by and among Pinnacle Foods Inc., a Delaware corporation (the "Company"), Conagra Brands Inc., a Delaware corporation (the "Parent"), and Patriot Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Conagra ("Merger Sub"), effective as of immediately prior to the effective time of the merger of the Company and Merger Sub (the "Merger"), each share of Company common stock was converted into the right to receive $43.11 in cash and 0.6494 (the "Exchange Ratio") of a share of common stock of Parent. Each disposition reported in this Form 4 is an exempt transaction. |
| Common Stock, par value $0.01SEC Table I · non-derivative | Direct | 0 |
Reported balance
After 2018-10-26 transaction · row 2
Sequence does not reconcile; account continuity is unresolved.
1 source rowRow 2 · 2018-10-26 · Disposition to issuer · Disposed 2,337 · Balance 0 F2: Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and unvested restricted stock unit with respect to the Company's common stock (a "Company RSU") was converted into a cash-settled restricted stock unit, denominated in shares of common stock of Parent, entitling the holder thereof to a cash payment equal to the value of the number of shares of common stock of Parent (rounded up to the nearest whole number) equal to (i) the number of shares of Company common stock subject to such Company RSU immediately prior to the effective time of the Merger multiplied by (ii) the sum of (x) the Exchange Ratio and (y) the quotient of (1) $43.11 divided by (2) $35.9749, the volume weighted average price of one share of common stock of Parent on each of the 10 consecutive trading days ending with the complete trading day ending immediately prior to October 26, 2018 as reported on the New York Stock Exchange. |
Filing footnotes · ownership attribution and instrument terms
F1: Pursuant to the Agreement and Plan of Merger, dated as of June 26, 2018, as it may be amended from time to time (the "Merger Agreement"), by and among Pinnacle Foods Inc., a Delaware corporation (the "Company"), Conagra Brands Inc., a Delaware corporation (the "Parent"), and Patriot Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Conagra ("Merger Sub"), effective as of immediately prior to the effective time of the merger of the Company and Merger Sub (the "Merger"), each share of Company common stock was converted into the right to receive $43.11 in cash and 0.6494 (the "Exchange Ratio") of a share of common stock of Parent. Each disposition reported in this Form 4 is an exempt transaction.
F2: Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and unvested restricted stock unit with respect to the Company's common stock (a "Company RSU") was converted into a cash-settled restricted stock unit, denominated in shares of common stock of Parent, entitling the holder thereof to a cash payment equal to the value of the number of shares of common stock of Parent (rounded up to the nearest whole number) equal to (i) the number of shares of Company common stock subject to such Company RSU immediately prior to the effective time of the Merger multiplied by (ii) the sum of (x) the Exchange Ratio and (y) the quotient of (1) $43.11 divided by (2) $35.9749, the volume weighted average price of one share of common stock of Parent on each of the 10 consecutive trading days ending with the complete trading day ending immediately prior to October 26, 2018 as reported on the New York Stock Exchange.
RALPH LAUREN CORP
Report date March 29, 2025 · Filed April 01, 2025
Section 16 reporting ended · disclosed 2025-04-01. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Class A Common StockSEC Table I · non-derivative | Direct | 51,288 |
Ending reported balance
After 2025-03-29 transaction · row 3
3 source rows · reconciled sequenceRow 1 · 2025-03-29 · Tax withholding · Disposed 3,088 · Balance 70,854 Row 2 · 2025-03-29 · Tax withholding · Disposed 6,149 · Balance 64,705 Row 3 · 2025-03-29 · Tax withholding · Disposed 13,417 · Balance 51,288 |
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 01, 2020 Filed Jun 4, 2020 00:28 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 17,466 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950142-20-001495 · es2000821_4-nielsen.xml · nonDerivative · entry 5 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 83,232 F2 · price: Represents shares of the Issuer's Class A Common Stock issued to the Reporting Person as performance-based restricted stock units, granted under the Issuer's 2019 Long-Term Stock Incentive Plan, which have been deemed to be earned based on the Issuer's achievement of certain applicable performance conditions. One-third of these performance-based restricted stock units vested following the end of the Issuer's Fiscal 2020. The remainder are no longer subject to performance and will vest in two equal annual installments following the end of the Issuer's Fiscal 2021 and Fiscal 2022, respectively. Read SEC document |
| June 01, 2020 Filed Jun 4, 2020 00:28 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 1,652 | $76.36 | $126,146.72 |
DisclosureSEC source: 0000950142-20-001495 · es2000821_4-nielsen.xml · nonDerivative · entry 4 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 65,766 Read SEC document |
| June 01, 2020 Filed Jun 4, 2020 00:28 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 3,047 | $76.36 | $232,668.92 |
DisclosureSEC source: 0000950142-20-001495 · es2000821_4-nielsen.xml · nonDerivative · entry 3 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 67,418 Read SEC document |
| June 01, 2020 Filed Jun 4, 2020 00:28 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 10,576 | $76.36 | $807,583.36 |
DisclosureSEC source: 0000950142-20-001495 · es2000821_4-nielsen.xml · nonDerivative · entry 2 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 70,465 Read SEC document |
| June 01, 2020 Filed Jun 4, 2020 00:28 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 23,529 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950142-20-001495 · es2000821_4-nielsen.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 81,041 F1 · price: Represents shares of the Issuer's Class A Common Stock issued to the Reporting Person in respect of the vesting of performance-based stock units granted under the Issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan. Read SEC document |
| November 07, 2019 Filed Nov 8, 2019 21:25 UTC | RALPH LAUREN CORP RL · Entity 3256 | SaleClass A Common Stock | 3,046 | $114.81 | $349,711.26 |
DisclosureSEC source: 0001530174-19-000007 · primary_doc.xml · nonDerivative · entry 3 Nielsen Jane · CIK 0001528871 · COO and CFO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 57,512 F1 · kind: These sales were made pursuant to a Rule 10b5-1 sales plan in connection with a long-term strategy for estate planning and investment diversification. F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.44 to $115.07, inclusive. Read SEC document |
| November 07, 2019 Filed Nov 8, 2019 21:25 UTC | RALPH LAUREN CORP RL · Entity 3256 | SaleClass A Common Stock | 4,750 | $113.82 | $540,645.00 |
DisclosureSEC source: 0001530174-19-000007 · primary_doc.xml · nonDerivative · entry 2 Nielsen Jane · CIK 0001528871 · COO and CFO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 60,558 F1 · kind: These sales were made pursuant to a Rule 10b5-1 sales plan in connection with a long-term strategy for estate planning and investment diversification. F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.60 to $114.15, inclusive. Read SEC document |
| November 07, 2019 Filed Nov 8, 2019 21:25 UTC | RALPH LAUREN CORP RL · Entity 3256 | SaleClass A Common Stock | 2,204 | $112.52 | $247,994.08 |
DisclosureSEC source: 0001530174-19-000007 · primary_doc.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · COO and CFO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 65,308 F1 · kind: These sales were made pursuant to a Rule 10b5-1 sales plan in connection with a long-term strategy for estate planning and investment diversification. F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.25 to $113.00 inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (4) to this Form. Read SEC document |
| May 24, 2019 Filed May 30, 2019 01:38 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 1,186 | $109.51 | $129,878.86 |
DisclosureSEC source: 0000950142-19-001195 · es1900722_4-nielsen.xml · nonDerivative · entry 5 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 67,512 Read SEC document |
| May 24, 2019 Filed May 30, 2019 01:38 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 9,309 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950142-19-001195 · es1900722_4-nielsen.xml · nonDerivative · entry 4 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 68,698 F2 · price: Represents shares of the Issuer's Class A Common Stock issued to the reporting person as performance-based restricted stock units, granted under the issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan, which have been deemed to be earned based on the issuer's achievement of certain applicable performance conditions. One-third of these performance-based restricted stock units vested following the end of the issuer's Fiscal 2019. The remainder are no longer subject to performance and will vest in two equal annual installments following the end of the issuer's Fiscal 2020 and Fiscal 2021, respectively. Read SEC document |
| May 24, 2019 Filed May 30, 2019 01:38 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 2,189 | $109.51 | $239,717.39 |
DisclosureSEC source: 0000950142-19-001195 · es1900722_4-nielsen.xml · nonDerivative · entry 3 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 59,389 Read SEC document |
| May 24, 2019 Filed May 30, 2019 01:38 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 11,031 | $109.51 | $1,208,004.81 |
DisclosureSEC source: 0000950142-19-001195 · es1900722_4-nielsen.xml · nonDerivative · entry 2 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 61,578 Read SEC document |
| May 24, 2019 Filed May 30, 2019 01:38 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 20,789 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950142-19-001195 · es1900722_4-nielsen.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · CFO and COO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 72,609 F1 · price: Represents shares of the Issuer's Class A Common Stock issued to the reporting person in respect of the vesting of performance-based stock units granted under the Issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan. Read SEC document |
| March 31, 2019 Filed Apr 2, 2019 21:48 UTC | RALPH LAUREN CORP rl · Entity 3256 | GrantClass A Common Stock | 23,127 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001530174-19-000003 · primary_doc.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · EVP, COO & CFO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 51,820 F1 · price: Represents shares of the issuer's Class A Common Stock issued to the reporting person as restricted stock units granted under the issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan. These restricted stock units will vest and become exercisable in three equal annual installments beginning March 31, 2021. Read SEC document |
| October 26, 2018 Filed Oct 26, 2018 20:35 UTC | PINNACLE FOODS INC. PF · Entity 16422 | Disposition to issuerCommon Stock, par value $0.01 | 2,337 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950157-18-001102 · form4.xml · nonDerivative · entry 2 Nielsen Jane · CIK 0001528871 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 F2 · price: Pursuant to the Merger Agreement, effective as of immediately prior to the effective time of the Merger, each outstanding and unvested restricted stock unit with respect to the Company's common stock (a "Company RSU") was converted into a cash-settled restricted stock unit, denominated in shares of common stock of Parent, entitling the holder thereof to a cash payment equal to the value of the number of shares of common stock of Parent (rounded up to the nearest whole number) equal to (i) the number of shares of Company common stock subject to such Company RSU immediately prior to the effective time of the Merger multiplied by (ii) the sum of (x) the Exchange Ratio and (y) the quotient of (1) $43.11 divided by (2) $35.9749, the volume weighted average price of one share of common stock of Parent on each of the 10 consecutive trading days ending with the complete trading day ending immediately prior to October 26, 2018 as reported on the New York Stock Exchange. Read SEC document |
| October 26, 2018 Filed Oct 26, 2018 20:35 UTC | PINNACLE FOODS INC. PF · Entity 16422 | Disposition to issuerCommon Stock, par value $0.01 | 12,089 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950157-18-001102 · form4.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 F1 · price: Pursuant to the Agreement and Plan of Merger, dated as of June 26, 2018, as it may be amended from time to time (the "Merger Agreement"), by and among Pinnacle Foods Inc., a Delaware corporation (the "Company"), Conagra Brands Inc., a Delaware corporation (the "Parent"), and Patriot Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Conagra ("Merger Sub"), effective as of immediately prior to the effective time of the merger of the Company and Merger Sub (the "Merger"), each share of Company common stock was converted into the right to receive $43.11 in cash and 0.6494 (the "Exchange Ratio") of a share of common stock of Parent. Each disposition reported in this Form 4 is an exempt transaction. Read SEC document |
| September 25, 2018 Filed Sep 27, 2018 20:21 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 8,018 | $133.52 | $1,070,563.36 |
DisclosureSEC source: 0001530174-18-000008 · primary_doc.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 28,693 Read SEC document |
| May 30, 2018 Filed Jun 1, 2018 20:52 UTC | PINNACLE FOODS INC. PF · Entity 16422 | GrantCommon Stock, par value $0.01 | 2,337 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001209191-18-034731 · doc4.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 14,426 F1 · shares: Represents restricted stock units granted pursuant to the Pinnacle Foods Inc. (the "Company") Amended & Restated 2013 Omnibus Incentive Plan. The restricted stock units vest on the earlier of (i) May 30, 2019, or (ii) the day of the Company's 2019 annual meeting of stockholders. F1 · price: Represents restricted stock units granted pursuant to the Pinnacle Foods Inc. (the "Company") Amended & Restated 2013 Omnibus Incentive Plan. The restricted stock units vest on the earlier of (i) May 30, 2019, or (ii) the day of the Company's 2019 annual meeting of stockholders. Read SEC document |
| May 29, 2018 Filed May 31, 2018 20:43 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 2,189 | $136.75 | $299,345.75 |
DisclosureSEC source: 0000950142-18-001281 · es1800754_4-nielsen.xml · nonDerivative · entry 2 Nielsen Jane · CIK 0001528871 · Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 36,711 Read SEC document |
| May 29, 2018 Filed May 31, 2018 20:43 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 17,175 | Not disclosed | Not disclosed |
DisclosureSEC source: 0000950142-18-001281 · es1800754_4-nielsen.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 38,900 F1 · price: Represents shares of the issuer's Class A Common Stock issued to the reporting person as performance-based restricted stock units, granted under the issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan, which have been deemed to be earned based on the issuer's achievement of certain applicable performance conditions. One-third of these performance-based restricted stock units vested following the end of the issuer's Fiscal 2018. The remainder are no longer subject to performance and will vest in two equal annual installments following the end of the issuer's Fiscal 2019 and Fiscal 2020, respectively. Read SEC document |
| September 25, 2017 Filed Sep 26, 2017 19:55 UTC | RALPH LAUREN CORP RL · Entity 3256 | Tax withholdingClass A Common Stock | 8,405 | $89.12 | $749,053.60 |
DisclosureSEC source: 0001530174-17-000017 · primary_doc.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 21,725 Read SEC document |
| May 23, 2017 Filed May 25, 2017 20:27 UTC | PINNACLE FOODS INC. PF · Entity 16422 | GrantCommon Stock, par value $0.01 | 2,457 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001209191-17-035370 · doc4.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 12,089 F1 · shares: Represents restricted stock units granted pursuant to the Pinnacle Foods Inc. (the "Company") Amended & Restated 2013 Omnibus Incentive Plan. The restricted stock units vest on the earlier of (i) May 23, 2018, or (ii) the day of the Company's 2018 annual meeting of stockholders. F1 · price: Represents restricted stock units granted pursuant to the Pinnacle Foods Inc. (the "Company") Amended & Restated 2013 Omnibus Incentive Plan. The restricted stock units vest on the earlier of (i) May 23, 2018, or (ii) the day of the Company's 2018 annual meeting of stockholders. Read SEC document |
| September 25, 2016 Filed Sep 27, 2016 20:08 UTC | RALPH LAUREN CORP RL · Entity 3256 | GrantClass A Common Stock | 30,130 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001530174-16-000066 · primary_doc.xml · nonDerivative · entry 1 Nielsen Jane · CIK 0001528871 · Corp. Sr. Vice President, CFO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 30,130 F1 · security: Represents shares of the issuer's Class A Common Stock issued to the reporting person as restricted stock units granted under the issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan. These restricted stock units will vest and become exercisable in two equal annual installments beginning September 25, 2017. F1 · price: Represents shares of the issuer's Class A Common Stock issued to the reporting person as restricted stock units granted under the issuer's Amended and Restated 2010 Long-Term Stock Incentive Plan. These restricted stock units will vest and become exercisable in two equal annual installments beginning September 25, 2017. 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.