+26'326,7,210RYHVWKH26'SRVLWLRQRQWKHVFUHHQWRWKHULJKWRUOHIW6HOHFW
+26'326,7,21XVLQJ>@RU>−@EXWWRQWKHQSUHVV>0HQX@EXWWRQWRDFWLYDWHWKHIXQFWLRQ
3UHVVWKH>@EXWWRQWRPRYHWKH26'SRVLWLRQWRWKHULJKW>−@EXWWRQWRPRYHOHIW7KHQ3UHVV
>0HQX@WRUHWXUQWR0,6&6XE0HQXDIWHUDGMXVWPHQW
926'326,7,21 0RYHVWKH26'SRVLWLRQRQWKHVFUHHQXSRUGRZQ6HOHFW926'
326,7,21XVLQJ>@RU>−@EXWWRQWKHQSUHVV>0HQX@EXWWRQWRDFWLYDWHWKHIXQFWLRQ3UHVVWKH
>@EXWWRQWRPRYHWKH26'SRVLWLRQXS>−@EXWWRQWRPRYHGRZQ7KHQ3UHVV>0HQX@WRUHWXUQ
WR0,6&6XE0HQXDIWHUDGMXVWPHQW
60227+,1* 0DNHVWKHGLVSOD\HGWH[WVVPRRWK6HOHFW60227+,1*XVLQJ>@RU>−@
EXWWRQWKHQSUHVV>0HQX@EXWWRQWRDFWLYDWHWKHIXQFWLRQ3UHVV>@RU>−@EXWWRQDQGDGMXVWWR
\RXUOLNLQJVKRZQEHORZ3UHVV>0HQX@EXWWRQWRUHWXUQWR0,6&6XE0HQX
,19,6,%/($FWLYDWHVWKH26'EDFNJURXQGWREHLQYLVLEOH6HOHFW,19,6,%/(XVLQJWKH
>@RU>−@EXWWRQWKHQSUHVV>0HQX@EXWWRQWRVHOHFWHLWKHU2QRU2IIRSWLRQ3UHVVWKH>@RU>−@
EXWWRQWRUHWXUQWRWKH0,6&6XE0HQX
,1)250$7,21 LVSOD\V WKH WLPLQJ PRGH RIVLJQDO LQSXWFRPLQJ IURP WKH JUDSKLFV
FDUGLQWKHFRPSXWHU6HOHFW,1)250$7,21XVLQJWKH>@RU>−@EXWWRQWKHQSUHVV>0HQX@WR
GLVSOD\WKHPRGHVKRZQEHORZ7KHQSUHVV>0HQX@EXWWRQWRH[LW26'RUJRWR0,6&WRUHWXUQ
WR0,6&6XE0HQX
5(&$// HWXUQV WKH DGMXVWPHQWV EDFN WR IDFWRU\ VHWWLQJV LI WKH PRQLWRU LV QRW
RSHUDWLQJDWLWVRULJLQDOIDFWRU\VHWWLQJV6HOHFW5(&$//XVLQJWKH>@RU>−@EXWWRQWKHQSUHVV
>0HQX@EXWWRQWRUHVHWWKHVHWWLQJV
(;,77XUQVRIIWKH26'6HOHFW(;,7XVLQJWKH>@RU>−@EXWWRQWKHQSUHVV>0HQX@WR
H[LWWKH26'