DEI
#Not ---+ it's not that easy of math unfortunately.
So we can walk you through it, <UNK>, if you want to give us a call.
And that's 60% capital investment to 30% capital investment.
That is the equity part.
Hi, Mike.
Okay.
There were a lot of points in that roll-forward there.
Let me just step back and try to walk you through it.
So there was about 1.4 million shares listed net impact.
Are you asking for the total number of options that were initially exercised.
Is that what you're asking for.
So that was ---+ so if you ---+ I mean, I know I'm going to give you very round numbers.
Generally ---+
It was about half.
So if there was a net negative impact of 1.4 million shares on our diluted share count as a result of the cash portion that was gone to taxes, that means that we retained roughly 1.4 million shares.
So that would mean the net ---+ the net value because it's just a profit part of the options was 2.8 million shares among everybody, although half of that was settlement cash which was paid in taxes.
Is that your question.
That's right.
The way the diluted share count works is they calculate the number of shares of stock that would have to be given to settle the profit portion.
So if you have an option at $20 and stock is at $30, they figure out how many options it takes to settle the $10 spread, the profit spread.
And that's what is in our diluted share count.
That portion ---+ that profit portion, because I know that taxes were around 50% and that was roughly 1.4 million shares, generally that portion was 2.8 million shares of which half was settled in cash of ---+ and because half was settled in cash, it lowered the diluted share count.
I can tell you on the other side of that we have retained the options.
There isn't any change there.
We've retained the stock.
So you take that other half and then if you go to the ATM and you issue the 1.4 million, you get yourself back to even.
Is that your question.
It was roughly 1.
---+ it's about half.
I can't ---+ I feel like the taxes were 51% or 49% or something like that.
It was about half.
So it's about 1.4 million shares.
Yes.
Ordinary income.
It's the ordinary income rates, state and Federal, just like your paycheck.
All right.
We're glad to have spoken with you today, and we look forward to speaking with you all again in one quarter.
Thank you.
