Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| CARRIAGE SERVICES INCCSV · Entity 5426 | Director | February 22, 2024 | February 27, 2024 |
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.
CARRIAGE SERVICES INC
Report date February 22, 2024 · Filed February 27, 2024 · Amendment
Amendment: balances below belong to this corrected disclosure, not necessarily a complete replacement of earlier positions.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Stock OptionsSEC Table II · derivative / convertible security · Conversion / exercise price $49.48 · Expires 2024-05-22 | Direct | 11,426 |
Reported balance
Holding disclosure · report date 2024-02-22 · row 1
Amendment: may correct only part of an earlier disclosure.
1 source rowRow 1 · Balance 11,426 F1: Stock Options granted on 2/23/2022 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. These options expire on 5/22/2024. |
Filing footnotes · ownership attribution and instrument terms
F1: Stock Options granted on 2/23/2022 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan. These options expire on 5/22/2024.
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| June 08, 2018 Filed Jun 8, 2018 21:59 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,967 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-18-000069 · wf-form4_152849512468951.xml · nonDerivative · entry 3 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Indirect · Karen P. Payne 2016 Annuity Trust Disclosed balance after: 17,857 F2 · shares: On June 8, 2018, the reporting person transferred 3,967 shares of Common Stock from the Grantor Retained Annuity Trust (GRAT) in Karen Payne's name to her individual account. Read SEC document |
| June 08, 2018 Filed Jun 8, 2018 21:59 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,967 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-18-000069 · wf-form4_152849512468951.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,191,646 F1 · shares: On June 8, 2018, the reporting person transferred 3,967 shares of Common Stock from the Grantor Retained Annuity Trust (GRAT) in Mel Payne's name to his individual account. Read SEC document |
| June 08, 2018 Filed Jun 8, 2018 21:59 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,967 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-18-000069 · wf-form4_152849512468951.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Indirect · Melvin C. Payne, Jr. 2016 Annuity Trust Disclosed balance after: 17,857 F1 · shares: On June 8, 2018, the reporting person transferred 3,967 shares of Common Stock from the Grantor Retained Annuity Trust (GRAT) in Mel Payne's name to his individual account. Read SEC document |
| May 23, 2018 Filed May 24, 2018 21:17 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 2,700 | $25.17 | $67,959.00 |
DisclosureSEC source: 0001016281-18-000067 · wf-form4_152719665275973.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,187,679 Read SEC document |
| April 10, 2018 Filed Apr 10, 2018 23:25 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 226 | $27.83 | $6,289.58 |
DisclosureSEC source: 0001016281-18-000047 · wf-form4_152340269495306.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,190,379 Read SEC document |
| April 09, 2018 Filed Apr 10, 2018 23:25 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 75 | $27.78 | $2,083.50 |
DisclosureSEC source: 0001016281-18-000047 · wf-form4_152340269495306.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,190,605 Read SEC document |
| February 26, 2018 Filed Feb 27, 2018 23:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | Exercise / conversionStock Options · Derivative | 100,000 | $0.00 Strike: $16.73 | $0.00 |
DisclosureSEC source: 0001016281-18-000032 · wf-form4_151977298796525.xml · derivative · entry 8 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 0 Underlying: Common Stock · 100,000 shares Expires 2018-05-22 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_date: Stock Options grant pursuant to the Carriage Services, Inc. Amended and Restated 2006 Long-Term Incentive Plan granted on 05/22/2013 which vested 1/3 on 05/22/2014, 1/3 on 05/22/2015 and 1/3 on 05/22/2016. These stock options expire on 05/22/2018. All 100,000 options were exercised on 2/26/2018. Read SEC document |
| February 26, 2018 Filed Feb 27, 2018 23:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | Tax withholdingCommon Stock | 50,000 | $27.81 | $1,390,500.00 |
DisclosureSEC source: 0001016281-18-000032 · wf-form4_151977298796525.xml · nonDerivative · entry 4 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,190,680 F1 · shares: Represents shares withheld on 02/26/2018 to partly cover option price and taxes associated with the exercise of stock options granted on 05/22/2013. Read SEC document |
| February 26, 2018 Filed Feb 27, 2018 23:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | Exercise / conversionCommon Stock | 100,000 | $16.73 | $1,673,000.00 |
DisclosureSEC source: 0001016281-18-000032 · wf-form4_151977298796525.xml · nonDerivative · entry 3 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,240,680 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. Read SEC document |
| February 26, 2018 Filed Feb 27, 2018 23:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 500 | $27.81 | $13,905.00 |
DisclosureSEC source: 0001016281-18-000032 · wf-form4_151977298796525.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,140,680 Read SEC document |
| February 23, 2018 Filed Feb 27, 2018 23:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 198 | $27.51 | $5,446.98 |
DisclosureSEC source: 0001016281-18-000032 · wf-form4_151977298796525.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,141,180 Read SEC document |
| February 14, 2018 Filed Feb 16, 2018 23:15 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GrantCommon Stock | 13,300 | $25.43 | $338,219.00 |
DisclosureSEC source: 0001016281-18-000013 · wf-form4_151882289329055.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,141,378 F1 · shares: Restricted Stock granted pursuant to the Carriage Services, Inc. 2017 Omnibus Plan which will vest 1/3 on 2/14/2019, 2/14/2020 and 2/14/2021. Read SEC document |
| December 19, 2017 Filed Dec 20, 2017 23:06 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 300 | $26.27 | $7,881.00 |
DisclosureSEC source: 0001016281-17-000119 · wf-form4_151381117403608.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,128,078 Read SEC document |
| December 14, 2017 Filed Dec 15, 2017 22:35 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 300 | $25.84 | $7,752.00 |
DisclosureSEC source: 0001016281-17-000117 · wf-form4_151337731888318.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,128,378 Read SEC document |
| December 13, 2017 Filed Dec 14, 2017 22:19 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 645 | $26.30 | $16,963.50 |
DisclosureSEC source: 0001016281-17-000113 · wf-form4_151328998365321.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,128,678 Read SEC document |
| December 12, 2017 Filed Dec 14, 2017 22:19 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,530 | $26.33 | $40,284.90 |
DisclosureSEC source: 0001016281-17-000113 · wf-form4_151328998365321.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,129,323 Read SEC document |
| October 09, 2017 Filed Oct 10, 2017 20:57 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 300 | $25.37 | $7,611.00 |
DisclosureSEC source: 0001016281-17-000094 · wf-form4_150766902279851.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,130,853 Read SEC document |
| September 27, 2017 Filed Sep 28, 2017 22:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 600 | $25.74 | $15,444.00 |
DisclosureSEC source: 0001016281-17-000092 · wf-form4_150663654115805.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,131,153 Read SEC document |
| August 18, 2017 Filed Aug 21, 2017 21:05 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | SaleCommon Stock | 100,000 | $23.85 | $2,385,000.00 |
DisclosureSEC source: 0001016281-17-000088 · wf-form4_150334950266180.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,131,753 F1 · shares: On August 18, 2017, Mr. Payne sold 100,000 shares to Carriage Services, Inc. in a privately negotiated transaction which was approved in advance by the Board of Directors. Read SEC document |
| August 04, 2017 Filed Aug 4, 2017 20:36 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 167 | $24.62 | $4,111.54 |
DisclosureSEC source: 0001016281-17-000086 · wf-form4_150187897225872.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,231,753 Read SEC document |
| August 03, 2017 Filed Aug 4, 2017 20:36 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 200 | $24.77 | $4,954.00 |
DisclosureSEC source: 0001016281-17-000086 · wf-form4_150187897225872.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,231,920 Read SEC document |
| June 22, 2017 Filed Jun 23, 2017 20:47 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 125 | $26.55 | $3,318.75 |
DisclosureSEC source: 0001016281-17-000076 · wf-form4_149825083671102.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,232,120 Read SEC document |
| June 12, 2017 Filed Jun 13, 2017 20:27 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,150 | $26.74 | $30,751.00 |
DisclosureSEC source: 0001016281-17-000072 · wf-form4_149738563227621.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,232,245 Read SEC document |
| June 08, 2017 Filed Jun 9, 2017 22:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,176 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-17-000070 · wf-form4_149704622162601.xml · nonDerivative · entry 4 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Indirect · Spouse Disclosed balance after: 6,694 F2 · shares: On June 8, 2017, 3,176 shares of Common Stock were transferred from the Grantor Retained Annuity Trust (GRAT) in Karen Payne's name to her individual account. Read SEC document |
| June 08, 2017 Filed Jun 9, 2017 22:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,176 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-17-000070 · wf-form4_149704622162601.xml · nonDerivative · entry 3 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Indirect · Karen P. Payne 2016 Annuity Trust Disclosed balance after: 21,824 F2 · shares: On June 8, 2017, 3,176 shares of Common Stock were transferred from the Grantor Retained Annuity Trust (GRAT) in Karen Payne's name to her individual account. Read SEC document |
| June 08, 2017 Filed Jun 9, 2017 22:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,176 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-17-000070 · wf-form4_149704622162601.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,233,395 F1 · shares: On June 8, 2017, 3,176 shares of Common Stock were transferred from the Grantor Retained Annuity Trust (GRAT) in Mel Payne's name to his individual account. Read SEC document |
| June 08, 2017 Filed Jun 9, 2017 22:10 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | OtherCommon Stock | 3,176 | $0.00 | $0.00 |
DisclosureSEC source: 0001016281-17-000070 · wf-form4_149704622162601.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Indirect · Melvin C. Payne, Jr. 2016 Annuity Trust Disclosed balance after: 21,824 F1 · shares: On June 8, 2017, 3,176 shares of Common Stock were transferred from the Grantor Retained Annuity Trust (GRAT) in Mel Payne's name to his individual account. Read SEC document |
| March 21, 2017 Filed Mar 23, 2017 21:14 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 190 | $26.54 | $5,042.60 |
DisclosureSEC source: 0001016281-17-000039 · wf-form4_149030364678106.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,230,219 Read SEC document |
| March 03, 2017 Filed Mar 6, 2017 22:38 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | Tax withholdingCommon Stock | 5,150 | $25.78 | $132,767.00 |
DisclosureSEC source: 0001016281-17-000022 · wf-form4_148883991479221.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,230,409 F1 · shares: Represents shares withheld on March 3, 2017 to cover taxes associated with the vesting of shares of restricted stock granted on March 3, 2014. Read SEC document |
| February 07, 2017 Filed Feb 9, 2017 23:02 UTC Amendment | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 300 | $26.47 | $7,941.00 |
DisclosureSEC source: 0001016281-17-000013 · wf-form4a_148668133926395.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,235,559 Read SEC document |
| February 06, 2017 Filed Feb 9, 2017 21:31 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 300 | $26.61 | $7,983.00 |
DisclosureSEC source: 0001016281-17-000011 · wf-form4_148667584586454.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,235,559 Read SEC document |
| January 17, 2017 Filed Jan 19, 2017 00:00 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,020 | $27.29 | $27,835.80 |
DisclosureSEC source: 0001016281-17-000004 · wf-form4_148478403144389.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,235,859 Read SEC document |
| January 11, 2017 Filed Jan 12, 2017 23:51 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 200 | $26.67 | $5,334.00 |
DisclosureSEC source: 0001016281-17-000002 · wf-form4_148426507766934.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,236,879 Read SEC document |
| January 11, 2017 Filed Jan 12, 2017 23:51 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 100 | $27.67 | $2,767.00 |
DisclosureSEC source: 0001016281-17-000002 · wf-form4_148426507766934.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,237,079 Read SEC document |
| November 25, 2016 Filed Nov 28, 2016 22:49 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,036 | $27.02 | $27,992.72 |
DisclosureSEC source: 0001016281-16-000257 · wf-form4_148037333943598.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,237,179 Read SEC document |
| November 23, 2016 Filed Nov 23, 2016 21:49 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,520 | $27.02 | $41,070.40 |
DisclosureSEC source: 0001016281-16-000255 · wf-form4_147993775562874.xml · nonDerivative · entry 2 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,238,215 Read SEC document |
| November 22, 2016 Filed Nov 23, 2016 21:49 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 100 | $26.73 | $2,673.00 |
DisclosureSEC source: 0001016281-16-000255 · wf-form4_147993775562874.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,239,735 Read SEC document |
| September 19, 2016 Filed Sep 19, 2016 20:50 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 180 | $23.12 | $4,161.60 |
DisclosureSEC source: 0001016281-16-000239 · wf-form4_147431821304449.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,239,835 Read SEC document |
| September 08, 2016 Filed Sep 8, 2016 20:49 UTC | CARRIAGE SERVICES INC CSV · Entity 5426 | GiftCommon Stock | 1,500 | $23.60 | $35,400.00 |
DisclosureSEC source: 0001016281-16-000237 · wf-form4_147336778109673.xml · nonDerivative · entry 1 PAYNE MELVIN C · CIK 0001024177 · Director · CEO 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,240,015 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.