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SHALLCROSS STEVEN A

Disclosed activity across 3 companies

Tapewire entity
70146
SEC CIK
0001263501

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
Elys BMG Group, Inc.ELYS · Entity 91339DirectorFebruary 14, 2023February 16, 2023
Theriva Biologics, Inc.TOVX · Entity 7919Director · CEO and CFOJanuary 05, 2026January 06, 2026
Twin Vee PowerCats, Co.VEEE · Entity 8235DirectorJuly 23, 2021July 26, 2021

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.

Elys BMG Group, Inc.

Report date February 14, 2023 · Filed February 16, 2023

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect27,717 Reported balance After 2023-02-14 transaction · row 1
1 source row

Row 1 · 2023-02-14 · Grant · Acquired 22,472 · Balance 27,717

F1: These shares were issued under the Cmpany's Stock Incentive plan, as amended, in lieu of director fees that were owed to Mr. Shallcross.

Stock Option(right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $0.89 · Expires 2033-02-14Direct39,377 Reported balance After 2023-02-14 transaction · row 2 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 2 · 2023-02-14 · Grant · Acquired 39,377 · Balance 39,377

F2: These stock options were issued under the Company's Stock Incentive Plan, as amended, and vest immediately

Stock Option (right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $0.89 · Expires 2033-02-14Direct92,254 Reported balance After 2023-02-14 transaction · row 3 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 3 · 2023-02-14 · Grant · Acquired 92,254 · Balance 92,254

F3: These stock options were issued under the Company's Stock Incentive plan, as amended, and vest as to 15,376 immediately and 76,878 pro-rata over ten months.

Filing footnotes · ownership attribution and instrument terms

F1: These shares were issued under the Cmpany's Stock Incentive plan, as amended, in lieu of director fees that were owed to Mr. Shallcross.

F2: These stock options were issued under the Company's Stock Incentive Plan, as amended, and vest immediately

F3: These stock options were issued under the Company's Stock Incentive plan, as amended, and vest as to 15,376 immediately and 76,878 pro-rata over ten months.

Theriva Biologics, Inc.

Report date January 05, 2026 · Filed January 06, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Stock Options (right to buy)SEC Table II · derivative / convertible security · Conversion / exercise price $0.24 · Expires 2033-01-04Direct475,000 Reported balance After 2026-01-05 transaction · row 1 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 1 · 2026-01-05 · Grant · Acquired 475,000 · Balance 475,000

F1: These stock options vest pro rata on a monthly basis over 36 months.

Filing footnotes · ownership attribution and instrument terms

F1: These stock options vest pro rata on a monthly basis over 36 months.

Twin Vee PowerCats, Co.

Report date July 23, 2021 · Filed July 26, 2021

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Stock OptionsSEC Table II · derivative / convertible security · Conversion / exercise price $5.80 · Expires 2031-06-08Direct5,500 Reported balance After 2021-07-23 transaction · row 1 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 1 · 2021-07-23 · Grant · Acquired 5,500 · Balance 5,500

F1: Consists of options to purchase 5,500 shares of our common stock that vest pro rata on a monthly basis over 12 months.

Filing footnotes · ownership attribution and instrument terms

F1: Consists of options to purchase 5,500 shares of our common stock that vest pro rata on a monthly basis over 12 months.

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
January 05, 2026 Filed Jan 6, 2026 21:55 UTC Theriva Biologics, Inc. TOVX · Entity 7919 GrantStock Options (right to buy) · Derivative 475,000 $0.00 Strike: $0.24 $0.00
Disclosure

SEC source: 0001104659-26-001388 · tm262266-4_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 475,000

Underlying: Common Stock · 475,000 shares

Expires 2033-01-04

F1 · shares: These stock options vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options vest pro rata on a monthly basis over 36 months.

Read SEC document
April 29, 2025 Filed May 1, 2025 20:01 UTC Theriva Biologics, Inc. TOVX · Entity 7919 GrantStock Options (right to buy) · Derivative 190,000 $0.00 Strike: $1.41 $0.00
Disclosure

SEC source: 0001104659-25-043510 · tm2513725-3_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 190,000

Underlying: Common Stock · 190,000 shares

Expires 2032-04-29

F1 · shares: These stock options vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options vest pro rata on a monthly basis over 36 months.

Read SEC document
December 14, 2023 Filed Dec 15, 2023 21:07 UTC Theriva Biologics, Inc. TOVX · Entity 7919 GrantStock Options (right to buy) · Derivative 700,000 $0.00 Strike: $0.59 $0.00
Disclosure

SEC source: 0001104659-23-126396 · tm2332964-4_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 700,000

Underlying: Common Stock · 700,000 shares

Expires 2030-12-14

F1 · shares: These stock options vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options vest pro rata on a monthly basis over 36 months.

Read SEC document
June 07, 2023 Filed Jun 8, 2023 11:00 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 14,000 $0.69 $9,703.40
Disclosure

SEC source: 0001104659-23-069136 · tm2318170-1_4seq1.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 250,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $0.6699 through $0.699, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, 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.

Read SEC document
June 06, 2023 Filed Jun 7, 2023 11:00 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 26,000 $0.63 $16,452.80
Disclosure

SEC source: 0001104659-23-068719 · tm2318003-1_4seq1.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 236,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $0.6015 through $0.6659, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, 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.

Read SEC document
February 14, 2023 Filed Feb 16, 2023 18:39 UTC Elys BMG Group, Inc. ELYS · Entity 91339 GrantStock Option (right to buy) · Derivative 92,254 $0.00 Strike: $0.89 $0.00
Disclosure

SEC source: 0001017386-23-000063 · ownership.xml · derivative · entry 3

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 92,254

Underlying: Common Stock · 92,254 shares

Expires 2033-02-14

F3 · derivative.exercise_date: These stock options were issued under the Company's Stock Incentive plan, as amended, and vest as to 15,376 immediately and 76,878 pro-rata over ten months.

Read SEC document
February 14, 2023 Filed Feb 16, 2023 18:39 UTC Elys BMG Group, Inc. ELYS · Entity 91339 GrantStock Option(right to buy) · Derivative 39,377 $0.00 Strike: $0.89 $0.00
Disclosure

SEC source: 0001017386-23-000063 · ownership.xml · derivative · entry 2

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,377

Underlying: Common Stock · 39,377 shares

Expires 2033-02-14

F2 · derivative.exercise_date: These stock options were issued under the Company's Stock Incentive Plan, as amended, and vest immediately

Read SEC document
February 14, 2023 Filed Feb 16, 2023 18:39 UTC Elys BMG Group, Inc. ELYS · Entity 91339 GrantCommon Stock 22,472 $0.89 $20,000.08
Disclosure

SEC source: 0001017386-23-000063 · ownership.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,717

F1 · shares: These shares were issued under the Cmpany's Stock Incentive plan, as amended, in lieu of director fees that were owed to Mr. Shallcross.

Read SEC document
February 10, 2023 Filed Feb 13, 2023 11:06 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 25,000 $1.04 $26,075.00
Disclosure

SEC source: 0001104659-23-018901 · tm236426-1_4.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 210,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.02 through $1.05, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, 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.

Read SEC document
February 02, 2023 Filed Feb 3, 2023 11:02 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 25,000 $0.94 $23,512.50
Disclosure

SEC source: 0001104659-23-010108 · tm235343-1_4seq1.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 185,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $0.9349 through $0.9499, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, 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.

Read SEC document
January 25, 2023 Filed Jan 26, 2023 11:03 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 25,000 $0.87 $21,825.00
Disclosure

SEC source: 0001104659-23-006677 · tm234482-1_4seq1.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 160,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $0.860 through $0.875, inclusive. The reporting person undertakes to provide to the registrant, any security holder of the registrant, 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.

Read SEC document
January 20, 2023 Filed Jan 23, 2023 11:08 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 25,000 $0.75 $18,705.00
Disclosure

SEC source: 0001104659-23-005546 · tm234103-1_4.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 135,000

Read SEC document
December 29, 2022 Filed Jan 3, 2023 11:04 UTC Theriva Biologics, Inc. TOVX · Entity 7919 PurchaseCommon Stock 100,000 $0.44 $43,700.00
Disclosure

SEC source: 0001104659-23-000023 · tm2233803d1_4seq1.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 110,000

Read SEC document
December 15, 2022 Filed Dec 16, 2022 23:16 UTC Theriva Biologics, Inc. TOVX · Entity 7919 GrantStock Options (right to buy) · Derivative 475,000 $0.00 Strike: $0.58 $0.00
Disclosure

SEC source: 0001104659-22-127972 · tm2232925-2_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 475,000

Underlying: Common Stock · 475,000 shares

Expires 2029-12-15

F1 · shares: These stock options vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options vest pro rata on a monthly basis over 36 months.

Read SEC document
December 23, 2021 Filed Dec 27, 2021 22:06 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options (right to buy) · Derivative 650,000 $0.00 Strike: $0.33 $0.00
Disclosure

SEC source: 0001104659-21-153634 · tm2136313-3_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 650,000

Underlying: Common Stock · 650,000 shares

Expires 2028-12-23

F1 · shares: These stock options vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options vest pro rata on a monthly basis over 36 months.

Read SEC document
September 13, 2021 Filed Sep 15, 2021 16:00 UTC Elys BMG Group, Inc. ELYS · Entity 91339 GrantStock Option(right to buy) · Derivative 13,600 $0.00 Strike: $5.10 $0.00
Disclosure

SEC source: 0001017386-21-000394 · ownership.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,600

Underlying: Common Stock · 13,600 shares

Expires 2031-09-12

F1 · shares: These stock options vest monthly pro rata over 12 months.

F1 · derivative.exercise_date: These stock options vest monthly pro rata over 12 months.

Read SEC document
July 23, 2021 Filed Jul 26, 2021 20:28 UTC Twin Vee PowerCats, Co. VEEE · Entity 8235 GrantStock Options · Derivative 5,500 $0.00 Strike: $5.80 $0.00
Disclosure

SEC source: 0001731122-21-001241 · ownership.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,500

Underlying: Common Stock · 5,500 shares

Expires 2031-06-08

F1 · shares: Consists of options to purchase 5,500 shares of our common stock that vest pro rata on a monthly basis over 12 months.

Read SEC document
May 10, 2021 Filed May 10, 2021 21:30 UTC Theriva Biologics, Inc. SYN · Entity 7919 PurchaseCommon Stock 50,000 $0.49 $24,595.00
Disclosure

SEC source: 0001104659-21-064047 · tm2115807d1_4.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 100,000

Read SEC document
January 22, 2021 Filed Jan 27, 2021 10:25 UTC Elys BMG Group, Inc. NWGI · Entity 91339 GrantCommon Stock 5,245 $5.72 $30,001.40
Disclosure

SEC source: 0001017386-21-000023 · ownership.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,245

F1 · shares: Represents a grant of restricted stock units ("RSUs") under the Company's 2018 Equity Incentive Plan. Each RSU represents the right to receive one share of the issuer's common stock, par value $0.0001. The RSUs vest immediately.

Read SEC document
December 30, 2020 Filed Dec 31, 2020 21:30 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options · Derivative 450,000 $0.00 Strike: $0.42 $0.00
Disclosure

SEC source: 0001104659-20-140996 · tm2039654d3_4seq1.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 450,000

Underlying: Common Stock · 450,000 shares

Expires 2027-12-30

F1 · shares: These stock options will vest pro rata on a monthly basis over 36 months.

F1 · derivative.exercise_date: These stock options will vest pro rata on a monthly basis over 36 months.

Read SEC document
October 01, 2020 Filed Oct 5, 2020 10:26 UTC Elys BMG Group, Inc. NWGI · Entity 91339 GrantStock Option · Derivative 35,000 $0.00 Strike: $2.03 $0.00
Disclosure

SEC source: 0001017386-20-000403 · ownership.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,000

Underlying: Common Stock · 35,000 shares

Expires 2030-09-30

F1 · shares: These options vest pro rata on a monthly basis over 12 months.

F1 · derivative.exercise_date: These options vest pro rata on a monthly basis over 12 months.

Read SEC document
December 04, 2019 Filed Dec 5, 2019 21:54 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options · Derivative 450,000 $0.00 Strike: $0.42 $0.00
Disclosure

SEC source: 0001104659-19-070227 · tm1923941d2_form4.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 450,000

Underlying: Common Stock · 450,000 shares

Expires 2026-12-04

F1 · shares: These options will vest monthly on a pro rata basis over 36 consecutive months.

F1 · derivative.exercise_date: These options will vest monthly on a pro rata basis over 36 consecutive months.

Read SEC document
August 23, 2019 Filed Aug 26, 2019 21:00 UTC Theriva Biologics, Inc. SYN · Entity 7919 PurchaseCommon Stock 50,000 $0.42 $20,785.00
Disclosure

SEC source: 0001144204-19-041677 · tv528238_4.xml · nonDerivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,000

Read SEC document
July 05, 2019 Filed Jul 8, 2019 16:08 UTC Amendment Elys BMG Group, Inc. NWGI · Entity 91339 GrantStock Option · Derivative 82,500 $0.00 Strike: $0.37 $0.00
Disclosure

SEC source: 0001017386-19-000189 · ownership.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 82,500

Underlying: Common Stock · 82,500 shares

Expires 2029-07-05

F1 · shares: These options vest monthly on a pro rata basis over the next twelve months.

Read SEC document
July 05, 2019 Filed Jul 8, 2019 12:12 UTC Elys BMG Group, Inc. NWGI · Entity 91339 GrantStock Option · Derivative 2,500 $0.00 Strike: $0.37 $0.00
Disclosure

SEC source: 0001017386-19-000186 · ownership.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 82,500

Underlying: Common Stock · 82,500 shares

Expires 2029-07-05

F1 · shares: These options vest monthly on a pro rata basis over the next twelve months.

Read SEC document
December 06, 2018 Filed Dec 7, 2018 22:02 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options · Derivative 200,000 $0.00 Strike: $0.69 $0.00
Disclosure

SEC source: 0001144204-18-063628 · tv508646_4.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Director · CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 200,000

Underlying: Common Stock · 200,000 shares

Expires 2025-12-06

F1 · shares: These options will vest monthly on a pro rata basis over 36 consecutive months.

F1 · derivative.exercise_date: These options will vest monthly on a pro rata basis over 36 consecutive months.

Read SEC document
December 20, 2017 Filed Dec 21, 2017 22:21 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options · Derivative 550,000 $0.00 Strike: $0.52 $0.00
Disclosure

SEC source: 0001144204-17-064830 · tv481807_4.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Interim CEO and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 550,000

Underlying: Common Stock · 550,000 shares

Expires 2024-12-19

F1 · shares: These options will vest monthly on a pro rata basis over 36 consecutive months.

F1 · derivative.exercise_date: These options will vest monthly on a pro rata basis over 36 consecutive months.

Read SEC document
November 30, 2016 Filed Dec 2, 2016 22:02 UTC Theriva Biologics, Inc. SYN · Entity 7919 GrantStock Options · Derivative 500,000 $0.00 Strike: $0.80 $0.00
Disclosure

SEC source: 0001144204-16-137735 · v454259_4.xml · derivative · entry 1

SHALLCROSS STEVEN A · CIK 0001263501 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 500,000

Underlying: Common Stock · 500,000 shares

Expires 2023-11-29

F1 · shares: These options will vest monthly on a pro rata basis over 36 consecutive months.

F1 · derivative.exercise_date: These options will vest monthly on a pro rata basis over 36 consecutive months.

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.