Epstein Secrets

9440 PM 45." 9211 PO" MM ii." 44:0 481% 49110 46.4% o ouciooka oi 2 o a o%98 • oil o ill ,41up.14 < 410~ • It ono. • 2 %%91 4949 4 Kailas, roallonwo barn row 4.841Tonwo motim MOMS INMS4 UMW 52.444), $219444, I:A° 6941 42.4.1101 51000 8.114.411 11048.181 51.41014 140 100

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

9440 PM 45." 9211 PO" MM ii." 44:0 481% 49110 46.4% o ouciooka oi 2 o a o%98 • oil o ill ,41up.14 < 410~ • It ono. • 2 %%91 4949 4 Kailas, roallonwo barn row 4.841Tonwo motim MOMS INMS4 UMW 52.444), $219444, I:A° 6941 42.4.1101 51000 8.114.411 11048.181 51.41014 140 100

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

9440 PM 45." 9211 PO" MM ii." 44:0 481% 49110 46.4% o ouciooka oi 2 o a o%98 • oil o ill ,41up.14 < 410~ • It ono. • 2 %%91 4949 4 Kailas, roallonwo barn row 4.841Tonwo motim MOMS INMS4 UMW 52.444), $219444, I:A° 6941 42.4.1101 51000 8.114.411 11048.181 51.41014 140 100

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t