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CLOUES EDWARD B II

Disclosed activity across 2 companies

Tapewire entity
70555
SEC CIK
0001145949

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
AMREP CORP.AXR · Entity 6644DirectorDecember 31, 2025January 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.

AMREP CORP.

Report date December 31, 2025 · Filed January 05, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Deferred Stock UnitsSEC Table II · derivative / convertible security · Conversion / exercise price $0.00Direct24,408.56 Reported balance After 2025-12-31 transaction · row 1 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 1 · 2025-12-31 · Grant · Acquired 1,595 · Balance 24,408.56

F1: These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

Filing footnotes · ownership attribution and instrument terms

F1: These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

Past disclosures · reporting ended (1)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

Hillenbrand, Inc.

Report date February 11, 2021 · Filed February 12, 2021

Section 16 reporting ended · disclosed 2021-02-12. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Restricted Stock Units (Deferred Stock Award) 2/11/21SEC Table II · derivative / convertible securityDirect1,019 Reported balance After 2021-02-11 transaction · row 1 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 1 · 2021-02-11 · Grant · Acquired 1,019 · Balance 1,019

F1: Conversion or Exercise Price of Derivative Security is 1-for-1.

F2: These stock units vest on the earlier to occur of the issuer's next annual meeting of shareholders or one year from the date of grant; provided, that these stock units will immediately vest upon, and in any case delivery of the shares underlying these stock units will not occur until, the occurrence of one of the following: a change in control of the issuer, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the issuer.

Filing footnotes · ownership attribution and instrument terms

F1: Conversion or Exercise Price of Derivative Security is 1-for-1.

F2: These stock units vest on the earlier to occur of the issuer's next annual meeting of shareholders or one year from the date of grant; provided, that these stock units will immediately vest upon, and in any case delivery of the shares underlying these stock units will not occur until, the occurrence of one of the following: a change in control of the issuer, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the issuer.

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 31, 2017 Filed Apr 3, 2017 16:15 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 5/14/10 · Derivative 14 $35.85 $501.90
Disclosure

SEC source: 0001214659-17-002306 · marketforms-38330.xml · derivative · entry 1

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,478

Underlying: Common Stock · 14 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
February 22, 2017 Filed Feb 23, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/22/2017 · Derivative 2,711 $36.88 $99,968.13
Disclosure

SEC source: 0001214659-17-001314 · marketforms-37848.xml · derivative · entry 1

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,711

Underlying: Common Stock · 2,711 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F2 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 31, 2016 Filed Jan 4, 2017 21:23 UTC AMREP CORP. AXR · Entity 6644 GrantDeferred Stock Units · Derivative 2,021.56 $0.00 Strike: $0.00 $0.00
Disclosure

SEC source: 0001144204-17-000596 · v456069_4.xml · derivative · entry 1

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,021.56

Underlying: Common stock, $.10 par value · 2,021.56 shares

Expires not disclosed

F1 · derivative.exercise_price: These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

F1 · derivative.exercise_date: These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

F1 · derivative.expiration_date: These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/24/2016 · Derivative 20 $38.35 $767.00
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 7

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,835

Underlying: Common Stock · 20 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award 2/25/15 · Derivative 17 $38.35 $651.95
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 6

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,373

Underlying: Common Stock · 17 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award 2/26/14) · Derivative 17 $38.35 $651.95
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 5

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,426

Underlying: Common Stock · 17 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/27/13 · Derivative 22 $38.35 $843.70
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 4

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,329

Underlying: Common Stock · 22 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/22/12 · Derivative 24 $38.35 $920.40
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 3

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,740

Underlying: Common Stock · 24 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/23/11 · Derivative 26 $38.35 $997.10
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 2

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,984

Underlying: Common Stock · 26 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
December 30, 2016 Filed Jan 3, 2017 16:10 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 5/14/10 · Derivative 12 $38.35 $460.20
Disclosure

SEC source: 0001214659-17-000029 · marketforms-37387.xml · derivative · entry 1

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,464

Underlying: Common Stock · 12 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/24/2016 · Derivative 24 $31.64 $759.36
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 7

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,815

Underlying: Common Stock · 24 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award 2/25/15 · Derivative 21 $31.64 $664.44
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 6

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,356

Underlying: Common Stock · 21 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award 2/26/14) · Derivative 21 $31.64 $664.44
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 5

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,409

Underlying: Common Stock · 21 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/27/13 · Derivative 26 $31.64 $822.64
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 4

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,307

Underlying: Common Stock · 26 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/22/12 · Derivative 29 $31.64 $917.56
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 3

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,716

Underlying: Common Stock · 29 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 2/23/11 · Derivative 30 $31.64 $949.20
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 2

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,958

Underlying: Common Stock · 30 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

Read SEC document
September 30, 2016 Filed Oct 4, 2016 09:09 UTC Hillenbrand, Inc. HI · Entity 66702 GrantRestricted Stock Units (Deferred Stock Award) 5/14/10 · Derivative 15 $31.64 $474.60
Disclosure

SEC source: 0001214659-16-013947 · marketforms-36263.xml · derivative · entry 1

CLOUES EDWARD B II · CIK 0001145949 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,452

Underlying: Common Stock · 15 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion of Exercise Price of Derivative Securities is 1-for-1.

F2 · kind: Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

F3 · derivative.exercise_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

F3 · derivative.expiration_date: These stock units vest immediately upon grant. However, delivery of these shares will not occur until the occurrence of one of the following: a change in control of the Company, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the Company.

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.