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GORENSTEIN MICHAEL RYAN

Disclosed activity across 1 company

Tapewire entity
60004
SEC CIK
0001797199

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
Cronos Group Inc.CRON · Entity 4811Director · See remarks belowMarch 15, 2026March 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.

Cronos Group Inc.

Report date March 15, 2026 · Filed March 17, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
COMMON SHARESSEC Table I · non-derivativeDirect13,213,017 Ending reported balance After 2026-03-15 transaction · row 2
2 source rows · reconciled sequence

Row 1 · 2026-03-15 · Exercise / conversion · Acquired 324,540 · Balance 13,340,723

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

Row 2 · 2026-03-15 · Tax withholding · Disposed 127,706 · Balance 13,213,017

RESTRICTED STOCK UNITSSEC Table II · derivative / convertible securityDirect1,912,426 Reported balance After 2026-03-15 transaction · row 3 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 3 · 2026-03-15 · Exercise / conversion · Disposed 324,540 · Balance 1,912,426

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2: On March 15, 2023, the Reporting Person was granted 973,618 RSUs, vesting in three substantially equal annual installments beginning on the first anniversary of the grant date.

Filing footnotes · ownership attribution and instrument terms

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2: On March 15, 2023, the Reporting Person was granted 973,618 RSUs, vesting in three substantially equal annual installments beginning on the first anniversary of the grant date.

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
March 15, 2023 Filed Mar 5, 2024 17:21 UTC Amendment Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 973,618 $0.00 $0.00
Disclosure

SEC source: 0001656472-24-000026 · wk-form4a_1709677289.xml · derivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,692,846

Underlying: COMMON SHARES · 973,618 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2 · derivative.exercise_date: On March 15, 2023, the Reporting Person was granted 973,618 RSUs, vesting in three substantially equal annual installments beginning on the first anniversary of the grant date.

F2 · derivative.expiration_date: On March 15, 2023, the Reporting Person was granted 973,618 RSUs, vesting in three substantially equal annual installments beginning on the first anniversary of the grant date.

F3 · balance_after: The Reporting Person is filing this amended Form 4 to reflect that on March 15, 2023, the Reporting Person was awarded 973,618 RSUs. Due to an inadvertent error, the Form 4 filed on March 21, 2023 incorrectly reported this award as a disposition of 973,618 RSUs and an acquisition of 973,618 common shares.

Read SEC document
March 01, 2023 Filed Mar 3, 2023 16:31 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionRESTRICTED STOCK UNITS · Derivative 62,659 $0.00 $0.00
Disclosure

SEC source: 0001656472-23-000019 · wf-form4_167787902812197.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,719,228

Underlying: COMMON SHARES · 62,659 shares

Expires not disclosed

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 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2 · derivative.exercise_date: The RSUs vest in two substantially equal installments on each of March 1, 2023 and March 1, 2024.

F2 · derivative.expiration_date: The RSUs vest in two substantially equal installments on each of March 1, 2023 and March 1, 2024.

Read SEC document
March 01, 2023 Filed Mar 3, 2023 16:31 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 15,365 $2.17 $33,342.05
Disclosure

SEC source: 0001656472-23-000019 · wf-form4_167787902812197.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,618,371

Read SEC document
March 01, 2023 Filed Mar 3, 2023 16:31 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 62,659 $0.00 $0.00
Disclosure

SEC source: 0001656472-23-000019 · wf-form4_167787902812197.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,633,736

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 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

Read SEC document
December 13, 2022 Filed Dec 15, 2022 16:05 UTC Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 499,826 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000196 · wf-form4_167113829243441.xml · derivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,781,887

Underlying: COMMON SHARES · 499,826 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2 · derivative.exercise_date: The RSUs vest in three substantially equal installments on each of December 13, 2023, December 13, 2024, and December 13, 2025.

F2 · derivative.expiration_date: The RSUs vest in three substantially equal installments on each of December 13, 2023, December 13, 2024, and December 13, 2025.

Read SEC document
October 24, 2022 Filed Oct 26, 2022 21:29 UTC Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 94,084 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000152 · wf-form4_166683412618726.xml · derivative · entry 5

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,282,061

Underlying: COMMON SHARES · 94,084 shares

Expires not disclosed

F3 · derivative.exercise_price: Each RSU represents a contingent right to receive one common share of Cronos Group Inc.

F1 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

F6 · derivative.exercise_date: The RSUs vest in three substantially equal installments on each of March 15, 2023, March 15, 2024, and March 15, 2025.

F6 · derivative.expiration_date: The RSUs vest in three substantially equal installments on each of March 15, 2023, March 15, 2024, and March 15, 2025.

Read SEC document
October 24, 2022 Filed Oct 26, 2022 21:29 UTC Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 125,318 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000152 · wf-form4_166683412618726.xml · derivative · entry 4

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,187,977

Underlying: COMMON SHARES · 125,318 shares

Expires not disclosed

F3 · derivative.exercise_price: Each RSU represents a contingent right to receive one common share of Cronos Group Inc.

F1 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

F5 · derivative.exercise_date: The RSUs vest in two substantially equal installments on each of March 1, 2023 and March 1, 2024.

F5 · derivative.expiration_date: The RSUs vest in two substantially equal installments on each of March 1, 2023 and March 1, 2024.

Read SEC document
October 24, 2022 Filed Oct 26, 2022 21:29 UTC Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 62,659 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000152 · wf-form4_166683412618726.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,062,659

Underlying: COMMON SHARES · 62,659 shares

Expires not disclosed

F3 · derivative.exercise_price: Each RSU represents a contingent right to receive one common share of Cronos Group Inc.

F1 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

F4 · derivative.exercise_date: The RSUs vest on May 11, 2023.

F4 · derivative.expiration_date: The RSUs vest on May 11, 2023.

Read SEC document
October 24, 2022 Filed Oct 26, 2022 21:29 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 81,932 $2.94 $240,880.08
Disclosure

SEC source: 0001656472-22-000152 · wf-form4_166683412618726.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,571,313

F1 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

Read SEC document
October 24, 2022 Filed Oct 26, 2022 21:29 UTC Cronos Group Inc. CRON · Entity 4811 GrantCOMMON SHARES 187,977 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000152 · wf-form4_166683412618726.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,653,245

F1 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

F2 · shares: The shares represent the shares that the reporting person would have received had certain awards of RSUs not been withheld and the RSUs had vested according to the corresponding vesting schedules for similarly-situated RSU awards in 2020 and 2021.

Read SEC document
October 24, 2022 Filed Oct 31, 2022 21:25 UTC Amendment Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 82,168 $2.94 $241,573.92
Disclosure

SEC source: 0001656472-22-000154 · wf-form4a_166726589733923.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,571,077

F1 · security: The amount of securities withheld to cover tax obligations was misreported on the reporting person's Form 4 filed on October 26, 2022. The reporting person is filing this amended Form 4 to reflect the correct amount of securities withheld following the October 24, 2022 transaction date.

F2 · date: The date of the release of previously withheld grants of restricted stock units ("RSUs") that would have otherwise been granted to the reporting person on each of May 11, 2020, March 1, 2021, and March 15, 2022.

Read SEC document
August 22, 2022 Filed Aug 26, 2022 20:12 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 62,500 $0.00 Strike: $2.42 $0.00
Disclosure

SEC source: 0001656472-22-000128 · wf-form4_166155914643162.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 62,500 shares

Expires 2022-08-24

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.

F1 · derivative.exercise_price: Prices are expressed in Canadian dollars.

F2 · derivative.exercise_date: The options were granted August 24, 2017 and vested in monthly instalments over a four-year period.

Read SEC document
August 22, 2022 Filed Aug 26, 2022 20:12 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 41,544 $3.82 $158,698.08
Disclosure

SEC source: 0001656472-22-000128 · wf-form4_166155914643162.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,465,268

F1 · price: Prices are expressed in Canadian dollars.

Read SEC document
August 22, 2022 Filed Aug 26, 2022 20:12 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 62,500 $2.42 $151,250.00
Disclosure

SEC source: 0001656472-22-000128 · wf-form4_166155914643162.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See remarks below

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,506,812

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 · price: Prices are expressed in Canadian dollars.

Read SEC document
March 21, 2022 Filed Mar 22, 2022 20:39 UTC Cronos Group Inc. CRON · Entity 4811 GrantRESTRICTED STOCK UNITS · Derivative 3,000,000 $0.00 $0.00
Disclosure

SEC source: 0001656472-22-000067 · wf-form4_164799597662537.xml · derivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · See Remarks.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,000,000

Underlying: COMMON SHARES · 3,000,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one common share of Cronos Group Inc.

F2 · derivative.exercise_date: The RSUs vest on March 21, 2025, subject to continued employment through such date.

F2 · derivative.expiration_date: The RSUs vest on March 21, 2025, subject to continued employment through such date.

Read SEC document
March 16, 2022 Filed Mar 18, 2022 13:16 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 27,084 $0.00 Strike: $3.14 $0.00
Disclosure

SEC source: 0001656472-22-000062 · wf-form4_164762379885540.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 27,084 shares

Expires 2022-04-12

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 · derivative.exercise_price: Price is expressed in Canadian dollars.

F3 · derivative.exercise_date: The options were granted April 12, 2017 and vest in monthly instalments over a four-year period.

Read SEC document
March 16, 2022 Filed Mar 18, 2022 13:16 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 23,284 $3.95 $91,971.80
Disclosure

SEC source: 0001656472-22-000062 · wf-form4_164762379885540.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,444,312

F2 · shares: Cronos Group Inc. (the "Company") withheld 23,284 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 15, 2022 of C$3.95 as reported on the Toronto Stock Exchange.

F1 · price: Price is expressed in Canadian dollars.

Read SEC document
March 16, 2022 Filed Mar 18, 2022 13:16 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 27,084 $3.14 $85,043.76
Disclosure

SEC source: 0001656472-22-000062 · wf-form4_164762379885540.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,467,596

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 · price: Price is expressed in Canadian dollars.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 103,125 $0.00 Strike: $6.07 $0.00
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · derivative · entry 9

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 46,875

Underlying: COMMON SHARES · 103,125 shares

Expires 2023-05-17

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.

F6 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$7.57 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

F10 · derivative.exercise_date: The options were granted May 17, 2018 and vest in monthly installments over a four-year period.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 1,272,916 $0.00 Strike: $2.52 $0.00
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · derivative · entry 8

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,084

Underlying: COMMON SHARES · 1,272,916 shares

Expires 2022-04-12

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.

F4 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$3.14 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

F9 · derivative.exercise_date: The options were granted April 12, 2017 and vest in monthly installments over a four-year period.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 437,500 $0.00 Strike: $1.94 $0.00
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · derivative · entry 7

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 62,500

Underlying: COMMON SHARES · 437,500 shares

Expires 2022-08-24

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.

F1 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$2.42 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

F8 · derivative.exercise_date: The options were granted August 24, 2017 and vest in monthly installments over a four-year period.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 70,427 $10.70 $753,385.79
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 6

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,440,512

F7 · kind: The Company withheld 70,427 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 15, 2021 of C$13.35 as reported on the Toronto Stock Exchange.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 103,125 $6.07 $625,535.63
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 5

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,510,939

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.

F6 · price: The price reported was converted from the Canadian exercise price of C$7.57 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 559,960 $10.70 $5,990,116.10
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 4

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,407,814

F5 · kind: The Company withheld 559,960 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 15, 2021 of C$13.35 as reported on the Toronto Stock Exchange.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 1,272,916 $2.52 $3,202,783.95
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,967,774

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.

F4 · price: The price reported was converted from the Canadian exercise price of C$3.14 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 175,178 $10.70 $1,873,949.14
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,694,858

F2 · kind: Cronos Group Inc. (the "Company") withheld 175,178 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 15, 2021 of C$13.35 as reported on the Toronto Stock Exchange.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 16, 2021 Filed Mar 18, 2021 17:49 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 437,500 $1.94 $848,356.25
Disclosure

SEC source: 0001656472-21-000035 · wf-form4_161610415705055.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,870,036

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 · price: The price reported was converted from the Canadian exercise price of C$2.42 to U.S. dollars using an exchange rate of C$1.00 to US$0.8013 as reported by Bloomberg as of March 15, 2021.

Read SEC document
March 15, 2021 Filed Mar 15, 2021 18:04 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 130,000 $10.73 $1,395,095.00
Disclosure

SEC source: 0001656472-21-000031 · wf-form4_161584585021426.xml · nonDerivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,432,536

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.51 to $10.89, inclusive.

Read SEC document
March 12, 2021 Filed Mar 15, 2021 18:04 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 150,000 $10.35 $1,552,470.00
Disclosure

SEC source: 0001656472-21-000031 · wf-form4_161584585021426.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,562,536

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.22 to $10.46, inclusive.

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March 11, 2021 Filed Mar 15, 2021 18:04 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 324,411 $10.20 $3,307,499.91
Disclosure

SEC source: 0001656472-21-000031 · wf-form4_161584585021426.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,712,536

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.00 to $10.49, inclusive. The reporting person undertakes to provide to Cronos Group Inc. (the "Company"), any security holder of the Company 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 (1), (2) and (3) to this Form 4.

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March 09, 2021 Filed Mar 10, 2021 17:34 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 185,000 $10.00 $1,849,297.00
Disclosure

SEC source: 0001656472-21-000029 · wf-form4_161541565846866.xml · nonDerivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,036,947

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.90 to $10.07, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company 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 range set forth in footnote (4) to this Form 4.

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March 08, 2021 Filed Mar 10, 2021 17:34 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 1,200,000 $0.00 Strike: $0.97 $0.00
Disclosure

SEC source: 0001656472-21-000029 · wf-form4_161541565846866.xml · derivative · entry 4

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 1,200,000 shares

Expires 2021-10-06

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 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$1.23 to U.S. dollars using an exchange rate of C$1.00 to US$0.7887 as reported by Bloomberg as of March 5, 2021.

F5 · derivative.exercise_date: The options were granted October 6, 2016 and vest in monthly installments over a four-year period.

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March 08, 2021 Filed Mar 10, 2021 17:34 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 410,589 $9.54 $3,915,130.35
Disclosure

SEC source: 0001656472-21-000029 · wf-form4_161541565846866.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,221,947

F2 · kind: Cronos Group Inc. (the "Company") withheld 410,589 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 5, 2021 of C$12.09 as reported on the Toronto Stock Exchange.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.7887 as reported by Bloomberg as of March 5, 2021.

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March 08, 2021 Filed Mar 10, 2021 17:34 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 1,200,000 $0.97 $1,164,120.00
Disclosure

SEC source: 0001656472-21-000029 · wf-form4_161541565846866.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,632,536

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 · price: The price reported was converted from the Canadian exercise price of C$1.23 to U.S. dollars using an exchange rate of C$1.00 to US$0.7887 as reported by Bloomberg as of March 5, 2021.

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March 03, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 114,015 $10.39 $1,184,262.40
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 6

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,432,536

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.23 to $10.5901, inclusive.

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March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionWARRANTS · Derivative 3,990,221 $0.00 Strike: $0.19 $0.00
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · derivative · entry 8

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 3,990,221 shares

Expires 2021-05-27

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.

F4 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$0.245 to U.S. dollars using an exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

F9 · derivative.exercise_date: The warrants were issued between May 16, 2016 and August 12, 2016 and were immediately exercisable.

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March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARE OPTION (right to buy) · Derivative 487,500 $0.00 Strike: $0.39 $0.00
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · derivative · entry 7

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 487,500 shares

Expires 2021-08-05

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 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$0.50 to U.S. dollars using an exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

F8 · derivative.exercise_date: The options were granted August 5, 2016 and vested in monthly installments over a four-year period.

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March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 230,000 $11.05 $2,540,534.00
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 5

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,546,551

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.715 to $11.37, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company 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 footnote (6) and footnote (7) to this Form 4.

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March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 69,981 $11.00 $769,888.97
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 4

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,776,551

F5 · kind: On March 2, 2021, the reporting person exercised warrants to purchase 3,990,221 common shares of the Company for C$0.245 per common share. The reporting person paid the exercise price on a cashless basis, resulting in the Company's withholding of 69,981 common shares to pay the exercise price and issuing to the reporting person the remaining 3,920,240 common shares.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

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March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 3,990,221 $0.19 $769,713.63
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,846,532

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.

F4 · price: The price reported was converted from the Canadian exercise price of C$0.245 to U.S. dollars using an exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

Read SEC document
March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 143,485 $11.00 $1,578,535.88
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,856,311

F2 · kind: Cronos Group Inc. (the "Company") withheld 143,485 common shares underlying the options for payment of the exercise price and to cover applicable withholding taxes, using the closing price of the Company's common shares on March 1, 2021 of C$13.97 as reported on the Toronto Stock Exchange.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

Read SEC document
March 02, 2021 Filed Mar 4, 2021 17:39 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 487,500 $0.39 $191,977.50
Disclosure

SEC source: 0001656472-21-000027 · wf-form4_161489756357507.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,999,796

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 · price: The price reported was converted from the Canadian exercise price of C$0.50 to U.S. dollars using an exchange rate of C$1.00 to US$0.7875 as reported by Bloomberg as of March 1, 2021.

Read SEC document
November 12, 2020 Filed Nov 16, 2020 20:06 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionWARRANTS · Derivative 4,000,000 $0.00 Strike: $0.19 $0.00
Disclosure

SEC source: 0001797199-20-000005 · wf-form4_160557518838656.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,990,221

Underlying: COMMON SHARES · 4,000,000 shares

Expires 2021-05-27

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 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$0.245 to U.S. dollars using an exchange rate of C$1.00 to US$0.7657 as reported by Bloomberg as of November 11, 2020.

F4 · derivative.exercise_date: The warrants were issued between May 16, 2016 and August 12, 2016 and were immediately exercisable.

Read SEC document
November 12, 2020 Filed Nov 16, 2020 20:06 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 105,151 $7.14 $750,778.14
Disclosure

SEC source: 0001797199-20-000005 · wf-form4_160557518838656.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,512,296

F2 · kind: On November 12, 2020, the reporting person exercised warrants to purchase 4,000,000 common shares of Cronos Group Inc. (the "Company") for C$0.245 per common share. The reporting person paid the exercise price on a cashless basis, resulting in the Company's withholding of 105,151 common shares to pay the exercise price and issuing to the reporting person the remaining 3,894,849 common shares.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.7657 as reported by Bloomberg as of November 11, 2020.

Read SEC document
November 12, 2020 Filed Nov 16, 2020 20:06 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 4,000,000 $0.19 $750,400.00
Disclosure

SEC source: 0001797199-20-000005 · wf-form4_160557518838656.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,617,447

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 · price: The price reported was converted from the Canadian exercise price of C$0.245 to U.S. dollars using an exchange rate of C$1.00 to US$0.7657 as reported by Bloomberg as of November 11, 2020.

Read SEC document
November 06, 2020 Filed Nov 10, 2020 20:07 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 107,851 $7.92 $853,931.86
Disclosure

SEC source: 0001797199-20-000003 · wf-form4_160505682132696.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 617,447

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.695 to $8.095, inclusive.

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November 06, 2020 Filed Nov 10, 2020 20:07 UTC Cronos Group Inc. CRON · Entity 4811 SaleCOMMON SHARES 1,181,499 $7.16 $8,462,013.99
Disclosure

SEC source: 0001797199-20-000003 · wf-form4_160505682132696.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 725,298

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.70 to $7.69, inclusive. The reporting person undertakes to provide to Cronos Group Inc. (the "Company"), any security holder of the Company, 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 (1) and (3) to this Form 4.

F2 · balance_after: The total number of shares beneficially owned was misreported on the reporting person's Form 3 filed on December 31, 2019, which overreported the amount of beneficially owned shares by 100 shares. The number stated in this filing reflects the correction of the misreported amount.

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September 15, 2020 Filed Sep 16, 2020 18:45 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionWARRANTS · Derivative 645,555 $0.00 Strike: $0.24 $0.00
Disclosure

SEC source: 0001656472-20-000086 · wf-form4_160029628806998.xml · derivative · entry 3

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: COMMON SHARES · 645,555 shares

Expires not disclosed

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 · derivative.exercise_price: The price reported was converted from the Canadian exercise price of C$0.31 to U.S. dollars using an exchange rate of C$1.00 to US$0.7591 as reported by Bloomberg as of September 14, 2020.

F4 · derivative.exercise_date: 494,912 warrants were issued on October 8, 2015 and were immediately exercisable and expire on October 8, 2020. 150,643 warrants were issued on October 28, 2015 and were immediately exercisable and expire on October 28, 2020.

F4 · derivative.expiration_date: 494,912 warrants were issued on October 8, 2015 and were immediately exercisable and expire on October 8, 2020. 150,643 warrants were issued on October 28, 2015 and were immediately exercisable and expire on October 28, 2020.

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September 15, 2020 Filed Sep 16, 2020 18:45 UTC Cronos Group Inc. CRON · Entity 4811 Tax withholdingCOMMON SHARES 28,108 $5.40 $151,783.20
Disclosure

SEC source: 0001656472-20-000086 · wf-form4_160029628806998.xml · nonDerivative · entry 2

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,906,897

F2 · kind: On September 15, 2020, the reporting person exercised warrants to purchase 645,555 common shares of Cronos Group Inc. (the "Company") for C$0.31 per common share. The reporting person paid the exercise price on a cashless basis, resulting in the Company's withholding of 28,108 common shares to pay the exercise price and issuing to the reporting person the remaining 617,447 common shares.

F3 · price: The price reported is in U.S. dollars based on the exchange rate of C$1.00 to US$0.7591 as reported by Bloomberg as of September 14, 2020.

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September 15, 2020 Filed Sep 16, 2020 18:45 UTC Cronos Group Inc. CRON · Entity 4811 Exercise / conversionCOMMON SHARES 645,555 $0.24 $151,899.09
Disclosure

SEC source: 0001656472-20-000086 · wf-form4_160029628806998.xml · nonDerivative · entry 1

GORENSTEIN MICHAEL RYAN · CIK 0001797199 · Director · Executive Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,935,005

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 · price: The price reported was converted from the Canadian exercise price of C$0.31 to U.S. dollars using an exchange rate of C$1.00 to US$0.7591 as reported by Bloomberg as of September 14, 2020.

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.