Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| ManpowerGroup Inc.MAN · Entity 1769 | Director | January 01, 2026 | January 05, 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.
ManpowerGroup Inc.
Report date January 01, 2026 · Filed January 05, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 39,510 |
Reported balance
After 2026-01-01 transaction · row 1
1 source rowRow 1 · 2026-01-01 · Grant · Acquired 6,054 · Balance 39,510 F1: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2026. F3: Represents the Market Price (as defined in the Plan) on the last trading day of 2025. |
Filing footnotes · ownership attribution and instrument terms
F1: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions").
F2: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2026.
F3: Represents the Market Price (as defined in the Plan) on the last trading day of 2025.
Past disclosures · reporting ended (1)
No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.
SHUTTERFLY INC
Report date September 25, 2019 · Filed September 26, 2019
Section 16 reporting ended · disclosed 2019-09-26. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 0 |
Reported balance
After 2019-09-25 transaction · row 1
1 source rowRow 1 · 2019-09-25 · Disposition to issuer · Disposed 9,240 · Balance 0 F1: Pursuant to the Agreement and Plan of Merger among the Issuer, Photo Holdings, LLC and Photo Holdings Merger Sub, Inc. dated as of June 10, 2019 (the "Merger Agreement"), the shares of common stock were cancelled and converted into the right to receive $51.00 in cash per share. |
| Restricted Stock UnitsSEC Table II · derivative / convertible security | Direct | 0 |
Reported balance
After 2019-09-25 transaction · row 2
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 2 · 2019-09-25 · Disposition to issuer · Disposed 5,439 · Balance 0 F2: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer upon vesting. F3: Pursuant to the Merger Agreement, the vesting of all outstanding RSUs accelerated so that the RSUs became fully vested, and the RSUs were cancelled and converted into the right to receive $51.00 in cash per outstanding RSU, payable in accordance with and subject to the terms of the Merger Agreement. |
Filing footnotes · ownership attribution and instrument terms
F1: Pursuant to the Agreement and Plan of Merger among the Issuer, Photo Holdings, LLC and Photo Holdings Merger Sub, Inc. dated as of June 10, 2019 (the "Merger Agreement"), the shares of common stock were cancelled and converted into the right to receive $51.00 in cash per share.
F2: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer upon vesting.
F3: Pursuant to the Merger Agreement, the vesting of all outstanding RSUs accelerated so that the RSUs became fully vested, and the RSUs were cancelled and converted into the right to receive $51.00 in cash per outstanding RSU, payable in accordance with and subject to the terms of the Merger Agreement.
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 |
|---|---|---|---|---|---|---|
| January 01, 2026 Filed Jan 5, 2026 22:04 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 6,054 | $29.73 | $179,985.42 |
DisclosureSEC source: 0000892712-26-000019 · form4.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 39,510 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2026. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2025. Read SEC document |
| January 01, 2025 Filed Jan 3, 2025 21:57 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 3,119 | $57.72 | $180,028.68 |
DisclosureSEC source: 0000950170-25-001312 · ownership.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 33,456 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2025. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2024. Read SEC document |
| January 01, 2024 Filed Jan 3, 2024 22:07 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 2,265 | $79.47 | $179,999.55 |
DisclosureSEC source: 0000950170-24-001091 · ownership.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 30,337 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2024. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2023. Read SEC document |
| January 01, 2023 Filed Jan 4, 2023 22:24 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 2,103 | $83.21 | $174,990.63 |
DisclosureSEC source: 0001209191-23-001178 · doc4.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 28,072 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2023. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2022. Read SEC document |
| January 01, 2022 Filed Jan 4, 2022 23:44 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 1,798 | $97.33 | $174,999.34 |
DisclosureSEC source: 0001209191-22-001175 · doc4.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 25,969 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2022. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2021. Read SEC document |
| January 01, 2021 Filed Jan 5, 2021 22:37 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 1,941 | $90.18 | $175,039.38 |
DisclosureSEC source: 0001209191-21-001377 · doc4.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 24,171 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2021. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2020. Read SEC document |
| January 01, 2020 Filed Jan 3, 2020 21:45 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 1,802 | $97.10 | $174,974.20 |
DisclosureSEC source: 0001209191-20-001092 · doc4.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 22,230 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2020. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2019. Read SEC document |
| September 25, 2019 Filed Sep 26, 2019 20:47 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Disposition to issuerRestricted Stock Units · Derivative | 5,439 | $0.00 | $0.00 |
DisclosureSEC source: 0001213900-19-019058 · ownership.xml · derivative · entry 2 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 5,439 shares Expires not disclosed F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer upon vesting. F3 · derivative.exercise_date: Pursuant to the Merger Agreement, the vesting of all outstanding RSUs accelerated so that the RSUs became fully vested, and the RSUs were cancelled and converted into the right to receive $51.00 in cash per outstanding RSU, payable in accordance with and subject to the terms of the Merger Agreement. F3 · derivative.expiration_date: Pursuant to the Merger Agreement, the vesting of all outstanding RSUs accelerated so that the RSUs became fully vested, and the RSUs were cancelled and converted into the right to receive $51.00 in cash per outstanding RSU, payable in accordance with and subject to the terms of the Merger Agreement. Read SEC document |
| September 25, 2019 Filed Sep 26, 2019 20:47 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Disposition to issuerCommon Stock | 9,240 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001213900-19-019058 · ownership.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 F1 · price: Pursuant to the Agreement and Plan of Merger among the Issuer, Photo Holdings, LLC and Photo Holdings Merger Sub, Inc. dated as of June 10, 2019 (the "Merger Agreement"), the shares of common stock were cancelled and converted into the right to receive $51.00 in cash per share. Read SEC document |
| May 23, 2019 Filed May 24, 2019 20:02 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionRestricted Stock Units · Derivative | 2,613 | $0.00 | $0.00 |
DisclosureSEC source: 0001567619-19-012166 · doc1.xml · derivative · entry 2 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 2,613 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. F2 · derivative.exercise_price: Each RSU represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan. F1 · kind: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 23, 2018. F3 · derivative.exercise_date: The RSUs vested in full on May 23, 2019. F3 · derivative.expiration_date: The RSUs vested in full on May 23, 2019. Read SEC document |
| May 23, 2019 Filed May 24, 2019 20:02 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionCommon Stock | 2,613 | $0.00 | $0.00 |
DisclosureSEC source: 0001567619-19-012166 · doc1.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 9,240 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 · kind: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 23, 2018. Read SEC document |
| May 15, 2019 Filed May 17, 2019 16:58 UTC | SHUTTERFLY INC SFLY · Entity 154733 | GrantRestricted Stock Units · Derivative | 5,439 | $0.00 | $0.00 |
DisclosureSEC source: 0001567619-19-011556 · doc1.xml · derivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 5,439 Underlying: Common Stock · 5,439 shares Expires not disclosed F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan. F2 · derivative.exercise_date: The RSUs will vest in full on May 15, 2020, subject to the continued service of the Reporting Person on the vest date. F2 · derivative.expiration_date: The RSUs will vest in full on May 15, 2020, subject to the continued service of the Reporting Person on the vest date. Read SEC document |
| January 01, 2019 Filed Jan 3, 2019 22:01 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 2,469 | $64.80 | $159,991.20 |
DisclosureSEC source: 0000871763-19-000028 · wf-form4_154655289714310.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 20,428 F1 · kind: Annual Grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2019. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2018. Read SEC document |
| May 24, 2018 Filed May 25, 2018 18:29 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionRestricted Stock Units · Derivative | 4,334 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-18-025782 · doc1.xml · derivative · entry 3 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 4,334 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. F2 · derivative.exercise_price: Each RSU represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan. F1 · kind: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 24, 2017. F4 · derivative.exercise_date: The RSUs vested in full on May 24, 2018. F4 · derivative.expiration_date: The RSUs vested in full on May 24, 2018. Read SEC document |
| May 24, 2018 Filed May 25, 2018 18:29 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionCommon Stock | 4,334 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-18-025782 · doc1.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 6,627 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 · kind: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on May 24, 2017. Read SEC document |
| May 23, 2018 Filed May 25, 2018 18:29 UTC | SHUTTERFLY INC SFLY · Entity 154733 | GrantRestricted Stock Units · Derivative | 2,613 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-18-025782 · doc1.xml · derivative · entry 2 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,613 Underlying: Common Stock · 2,613 shares Expires not disclosed F2 · derivative.exercise_price: Each RSU represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan. F3 · derivative.exercise_date: The RSUs will vest in full on May 23, 2019, subject to the continued service of the Reporting Person on the vest date. F3 · derivative.expiration_date: The RSUs will vest in full on May 23, 2019, subject to the continued service of the Reporting Person on the vest date. Read SEC document |
| January 01, 2018 Filed Jan 3, 2018 22:15 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 1,269 | $126.11 | $160,033.59 |
DisclosureSEC source: 0000871763-18-000032 · wf-form4_151501770161639.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 17,959 F1 · kind: Annual Grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2018. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2017. Read SEC document |
| June 21, 2017 Filed Jun 23, 2017 19:22 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionRestricted Stock Units · Derivative | 2,293 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-17-026031 · doc1.xml · derivative · entry 2 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 2,293 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. F2 · derivative.exercise_price: Each of these Restricted Stock Units (the "RSUs") represents a contingent right to receive one (1) share of Issuer common stock upon settlement for no consideration. F3 · derivative.exercise_date: The RSUs vested in full on June 21, 2017. F3 · derivative.expiration_date: The RSUs vested in full on June 21, 2017. Read SEC document |
| June 21, 2017 Filed Jun 23, 2017 19:22 UTC | SHUTTERFLY INC SFLY · Entity 154733 | Exercise / conversionCommon Stock | 2,293 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-17-026031 · doc1.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,293 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 · kind: Vesting of restricted stock units ("RSUs") granted to the Reporting Person on December 7, 2016. Read SEC document |
| May 24, 2017 Filed May 26, 2017 19:09 UTC | SHUTTERFLY INC SFLY · Entity 154733 | GrantRestricted Stock Units · Derivative | 4,334 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-17-022611 · doc1.xml · derivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 4,334 Underlying: Common Stock · 4,334 shares Expires not disclosed F1 · derivative.exercise_price: Each Restricted Stock Unit ("RSU") represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan. F2 · derivative.exercise_date: The RSUs will vest in full on May 24, 2018, subject to the continued service of the Reporting Person on the vest date. F2 · derivative.expiration_date: The RSUs will vest in full on May 24, 2018, subject to the continued service of the Reporting Person on the vest date. Read SEC document |
| January 01, 2017 Filed Jan 4, 2017 22:20 UTC | ManpowerGroup Inc. MAN · Entity 1769 | GrantCommon Stock | 1,632 | $88.87 | $145,035.84 |
DisclosureSEC source: 0000871763-17-000034 · wf-form4_148356840822988.xml · nonDerivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,690 F1 · kind: Annual grant of restricted stock under the 2011 Equity Incentive Plan of the Company (the "Plan") and the Terms and Conditions Regarding the Grant of Awards to Non-Employee Directors under the Plan (the "Terms and Conditions"). F2 · shares: The shares of restricted stock will vest in quarterly installments on the last day of each calendar quarter during 2017. F3 · price: Represents the Market Price (as defined in the Plan) on the last trading day of 2016. Read SEC document |
| December 07, 2016 Filed Dec 9, 2016 18:29 UTC | SHUTTERFLY INC SFLY · Entity 154733 | GrantRestricted Stock Units · Derivative | 2,293 | $0.00 | $0.00 |
DisclosureSEC source: 0001140361-16-089302 · doc1.xml · derivative · entry 1 Sartain Elizabeth P · CIK 0001091943 · Director 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 2,293 Underlying: Common Stock · 2,293 shares Expires not disclosed F1 · derivative.exercise_price: Each of these RSUs represents a contingent right to receive one (1) share of Issuer common stock upon settlement for no consideration. F2 · derivative.exercise_date: The RSUs will vest in full on June 21, 2017. F2 · derivative.expiration_date: The RSUs will vest in full on June 21, 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.