1SFDJTJPO$PPMJOHGPS#VTJOFTT$SJUJDBM$POUJOVJUZ
%JTFvBEPQBSBMBSFGSJHFSBDJwOFDJFOUFEFMPTQFRVFvPTDFOUSPTEFEBUPT-JFCFSU)1$4
WFOUJMBEPSFTFOGVODJwOEFMBUFNQFSBUVSBFYUFSJPSPEFVOJOUFSWBMPEFUJFNQP
3FMnEFFODFOEJEPZBQBHBEPSFNPUP
$POUBDUPMJCSFEFUFOTJwO 'VODJPOBNJFOUPEFMBVOJEBEEFSFGSJHFSBDJwOZEFMBCPNCB 'VODJPOBNJFOUPEFMDPNQSFTPS "MBSNBHFOFSBM "EWFSUFODJBHFOFSBM .PEPEFSFGSJHFSBDJwOMJCSFDPOHVSBCMF
7FOUJMBEPSFT&$FOFMNPEFMP(
0QDJPOFTBEJDJPOBMFT .PEPEFBSSBORVFFOSBNQB $POKVOUPEFCPNCBZCPNCBTEFMJOWFSTPSJOUFHSBEPT
&RVJQPIJESgVMJDP %PCMFTJTUFNBEFBMJNFOUBDJwOZGVODJwO'BTU4UBSU3BNQ
$JOUBDBMFGBDUPSBEFFWBQPSBEPSDPOEVDUPCPNCB
4JOHMJDPM 3FDVQFSBDJwOEFMDBMPS $BMFOUBEPSFTEFQBOFMFMnDUSJDP 'JMUSPTEFCPCJOBEFDPOEFOTBDJwO
$PSSFDDJwOEFMGBDUPSEFQPUFODJBEFMDPNQSFOTPS
,JUEFNPOUBKFBOUJWJCSBDJwOEFDBVDIPPEFNVFMMFT
$POUSPMUBSKFUBEFSFEUBSKFUB.PECVTZUBSKFUB-JFCFSU4JUF4DBO
$PNVOJDBDJwO#.4.PECVT#"$OFU-PO8PSLTZ4/.1
-BTVCJEBEFMPTDPTUFTFOFSHnUJDPTMBFTDBTF[EFSFDVSTPTZFMJODSFNFOUPEFMBTNFEJEBTSFHVMBEPSBTFTUgOPCMJHBOEPBMBTFNQSFTBTBGVODJPOBSEFVOBGPSNBNgTFDJFOUF-BVOJEBEEFSFGSJHFSBDJwOMJCSF-JFCFSU)1$4DVCSFMBTEFNBOEBTBDUVBMFTQFSNJUJFOEPRVFMPTOFHPDJPTGVODJPOFOEFVOBGPSNBBCMFZNgTFDJFOUFBMUJFNQPRVFHBSBOUJ[BMBEJTQPOJCJMJEBEDPOUJOVBEFMBJOGSBFTUSVDUVSBEF5*-BVOJEBE-JFCFSU)1$4PGSFDFVOBIPSSPFOFSHnUJDPEFIBTUBFMZVOFRVJQBNJFOUPDPNQMFUPDPOVOTJTUFNBEFDPOUSPMRVFVUJMJ[BMBNFKPSUFDOPMPHrBFMFDUSwOJDBWFOUJMBEPSFTEFDPONVUBDJwOFMFDUSwOJDB&$ZVOBWgMWVMBUFSNPTUgUJDBFMFDUSwOJDB(SBDJBTBUPEPFTUPMPTDMJFOUFTBMDBO[BOTVTPCKFUJWPTEFOFHPDJPEFVOBGPSNBFDJFOUFJOEFQFOEJFOUFNFOUFEFMBTEJNFOTJPOFTEFTVDFOUSPEFEBUPT$BSBDUFSrTUJDBTEFMBVOJEBE-JFCFSU)1$40QDJPOFTEFTFSJF 7gMWVMBEFFYQBOTJwOFMFDUSwOJDB *OUFSSVQUPSEFDBVEBMEFBHVB %PCMFQVOUPEFSFGFSFODJB 1VOUPEFSFGFSFODJBEFEFTWJBDJwO $POGJHVSBDJwOBVUPNgUJDBEF5 $POUSPMBWBO[BEPEFCBKBQSFTJwOEFDPOEFOTBDJwO
$POUSPMJOUFMJHFOUFEFMPT
-JFCFSU)1$4VOJEBEEFSFGSJHFSBDJwOMJCSFEFSFOEJNJFOUPNFKPSBEP
'"4545"353".1-BGVODJwO'BTU4UBSU3BNQEF-JFCFSU)1$4HBSBOUJ[BMBSFTUBVSBDJwODPNQMFUBEFMBDBQBDJEBEEFMBVOJEBEEFSFGSJHFSBDJwOTFHVOEPTEFTQVnTEFSFTUBVSBSTFMBBMJNFOUBDJwOFMnDUSJDB
$0.13&4034$30---BVOJEBE-JFCFSU)1$4FTUgFRVJQBEBDPODPNQSFTPSFTTDSPMMQBSBNFKPSBSMBFDBDJBZMBBCJMJEBEEFMSFOEJNJFOUP
"-503&/%*.*&/50.BYJNJ[BFMSFOEJNJFOUPJODMVTPFODMJNBTUSPQJDBMFT1FSNJUFVOBIPSSPFOFSHnUJDPEFIBTUBFMFOFMNPEFMP(EF-JFCFSU)1$4
36*%0.6:#"+0&MSVJEPBVEJCMFTFSFEVDFBMNrOJNPHSBDJBTBMPTWFOUJMBEPSFT&$)Z#MBEFZBVOBJTMBNJFOUPBD|TUJDPFTQFDJBMJ$0.$POUSPMBWBO[BEPEFMBVOJEBEZFMUSBCBKPQBSBNBYJNJ[BSFMSFOEJNJFOUPFOFSHnUJDP'VODJPOBFODPOEJDJPOFTBNCJFOUBMFTZEFUFNQFSBUVSBEFMBHVBFYUSFNBT3&'3*(&3"$*/-*#3&-BTFDDJwOEFSFGSJHFSBDJwOMJCSFJOUFHSBEBQSPQPSDJPOBVONBZPSBIPSSPFOFSHnUJDPZVOBNBZPSBCJMJEBE
3&'3*(&3"/5&0QUJNJ[BEPQBSBFMSFGSJHFSBOUF3"
7&/5*-"%03&4&$-PTNPUPSFTEFBMUPSFOEJNJFOUPHBSBOUJ[BOVOBSFEVDDJwOEFMDPOTVNPFOFSHnUJDPEFMFODPNQBSBDJwODPOMPTNPUPSFTEF$"USBEJDJPOBMFT7-76-"%&&91"/4*/&-&$53/*$"(BSBOUJ[BMBFTUBCJMJEBEZFMSFOEJNJFOUPFOUPEPUJQPEFDPOEJDJPOFT
&OMBBDUVBMJEBENVDIBTFNQSFTBTDPOTJEFSBORVFMBSFTQPOTBCJMJEBEBNCJFOUBMFTDBEBWF[NgTJNQPSUBOUF-BVOJEBE-JFCFSU)1$4HBSBOUJ[BBOVFTUSPTDMJFOUFTVOBVNFOUPEFMSFOEJNJFOUPVOBSFEVDDJwOEFMJNQBDUPBNCJFOUBMZMBDPOTFDVDJwOEFTVTPCKFUJWPTEFOFHPDJP"EFNgTMBVOJEBE-JFCFSU)1$4DVFOUBDPOMBFYJCJMJEBERVFMFPGSFDFFMNPEPEFSFGSJHFSBDJwOMJCSFRVFBQSPWFDIBMBTDPOEJDJPOFTBNCJFOUBMFTFYUFSOBTQBSBFOGSJBSFMBHVBFOWF[EFMPTDPNQSFTPSFT4FUSBUBEFVONnUPEPRVFQSPQPSDJPOBVOTJHOJDBUJWPBIPSSPFOFSHnUJDP"MNJTNPUJFNQPFMDPOUSPMJ$0.EFMBVOJEBEEFSFGSJHFSBDJwODPOUSPMBMPTDPNQPOFOUFTEFMWFOUJMBEPSFMDPNQSFTPSZMBWgMWVMBEFSFHVMBDJwONJFOUSBTMPTNPEPTEFGVODJPOBNJFOUPNFDgOJDPTPEFSFGSJHFSBDJwOMJCSFKVOUPDPOMBNPEVMBDJwODPOUJOVBEFMPTDPNQSFTPSFTHBSBOUJ[BOVOBIPSSPFOFSHnUJDPBOVBMEFIBTUBFM
-JFCFSU)1$4MPHSBSMPTPCKFUJWPTEFOFHPDJPTJODPTUFBNCJFOUBM
1FSM'SBOLGVSUEFDBSHBEFL8
-BVOJEBE-JFCFSU)1$4PGSFDFVOBIPSSPFOFSHnUJDPEFMZVOFRVJQBNJFOUPDPNQMFUP
DPOMBNFKPSUFDOPMPHrBFMFDUSwOJDB
-JFCFSU)1$4DPO4NBSU"JTMF5.DPNQBSBEPDPOVOBJOTUBMBDJwOEFSFGSJHFSBDJwOFTUgOEBS
$POTVNPFOFSHnUJDPL8I
5$
DPOVOBJOTUBMB
5EFVJEPTEFVOJEBEFTUgOEBS$
5EFVJEPTEF'($
5EFVJEPTEF'($
5EFVJEPTEF'($
&MDPTUFFOFSHnUJDPFTUJNBEPFTEFL8I
$PTUFEFGVODJPOBNJFOUPBOVBM
6OJEBEFTUgOEBS5EFVJEPT$
'(5EFVJEPT$
'(5EFVJEPT$
'(5EFVJEPT$
6OJEBE FTUgOEBS 5 '( 5 EF '( 5 EF '( 5 EF
"IPSSPEF
-JFCFSU)1$4DPO4NBSU"JTMF5.DPTUFTEFGVODJPOBNJFOUPZBIPSSPBOVBMFT
4FSJF-JFCFSU)1$4 6OJEBEEFSFGSJHFSBDJwODPOTDSPMMFOGSJBEPQPSBJSFZSFGSJHFSBDJwOMJCSF.PEFMP( '( '( '( '( '( '($POGJHVSBDJwOEFBMUPSFOEJNJFOUP$BQBDJEBEEFSFGSJHFSBDJwO L8 $BQBDJEBEEFSFGSJHFSBDJwOMJCSF L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" $POGJHVSBDJwOTJMFODJPTB$BQBDJEBEEFSFGSJHFSBDJwO L8 $BQBDJEBEEFSFGSJHFSBDJwOMJCSF L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" %JNFOTJPOFT NN YY YY YY
.PEFMP# '# '# '# '# '# '# '#$POGJHVSBDJwOCgTJDB$BQBDJEBEEFSFGSJHFSBDJwO L8 $BQBDJEBEEFSFGSJHFSBDJwOMJCSF L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" $POGJHVSBDJwOTJMFODJPTB$BQBDJEBEEFSFGSJHFSBDJwO L8 $BQBDJEBEEFSFGSJHFSBDJwOMJCSF L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" %JNFOTJPOFT NN YY YY YY
&OMBTTJHVJFOUFTDPOEJDJPOFTFTUgOEBSBMJNFOUBDJwOB7)[USJGgTJDPUFNQFSBUVSBFYUFSJPSEF$UFNQFSBUVSBEFFOUSBEBTBMJEBEFBHVBEF$ZEFFUJMFOHMJDPM &OMBTTJHVJFOUFTDPOEJDJPOFTFTUgOEBSBMJNFOUBDJwOB7)[USJGgTJDPUFNQFSBUVSBFYUFSJPSEF$UFNQFSBUVSBEFFOUSBEBEFSFGSJHFSBOUFEF$ZEFFUJMFOHMJDPM $BMDVMBEPDPOVOBUFNQFSBUVSBFYUFSJPSEF$BNEFMBVOJEBEFODPOEJDJPOFTEFDBNQPMJCSFZEFDPOGPSNJEBEDPOMBOPSNB*40 $BMDVMBEPDPOVOBUFNQFSBUVSBFYUFSJPSEF$ZEFDPOGPSNJEBEDPOMBOPSNB*40
4FSJF-JFCFSU)1$4 6OJEBEEFSFGSJHFSBDJwODPOTDSPMMFOGSJBEPQPSBJSF.PEFMP( $( $( $( $( $( $($POGJHVSBDJwOEFBMUPSFOEJNJFOUP$BQBDJEBEEFSFGSJHFSBDJwO L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" $POGJHVSBDJwOTJMFODJPTB$BQBDJEBEEFSFGSJHFSBDJwO L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" %JNFOTJPOFT NN YY YY YY
.PEFMP# $# $# $# $# $# $# $#$POGJHVSBDJwOCgTJDB$BQBDJEBEEFSFGSJHFSBDJwO L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" $POGJHVSBDJwOTJMFODJPTB$BQBDJEBEEFSFGSJHFSBDJwO L8 &OUSBEBUPUBMEFFOFSHrB L8 $PFDJFOUFEFSFOEJNJFOUPFOFSHnUJDPEFMBVOJEBE 41-OJWFMEFQSFTJwOTPOPSB E#" 18-OJWFMEFQPUFODJBTPOPSB E#" %JNFOTJPOFT NN YY YY YY
&OMBTTJHVJFOUFTDPOEJDJPOFTFTUgOEBSBMJNFOUBDJwOB7)[USJGgTJDPUFNQFSBUVSBFYUFSJPSEF$UFNQFSBUVSBEFFOUSBEBTBMJEBEFBHVBEF$ZEFFUJMFOHMJDPM $BMDVMBEPDPOVOBUFNQFSBUVSBFYUFSJPSEF$BNEFMBVOJEBEFODPOEJDJPOFTEFDBNQPMJCSFZEFDPOGPSNJEBEDPOMBOPSNB*40 $BMDVMBEPDPOVOBUFNQFSBUVSBFYUFSJPSEF$ZEFDPOGPSNJEBEDPOMBOPSNB*40
&NFSTPO/FUXPSL1PXFS5IFHMPCBMMFBEFSJOFOBCMJOH#VTJOFTT$SJUJDBM$POUJOVJUZ
&NFSTPO#VTJOFTT$SJUJDBM$POUJOVJUZZ&NFSTPO/FUXPSL1PXFSTPONBSDBTSFHJTUSBEBTEF&NFSTPO&MFDUSJD$PPEFVOBEFTVTFNQSFTBTBTPDJBEBT&NFSTPO&MFDUSJD$P
"VORVFTFIBOUPNBEPUPEBTMBTQSFDBVDJPOFTQBSBBTFHVSBSMBQSFDJTJwOZMBJOUFHSJEBEEFFTUFEPDVNFOUP-JFCFSU$PSQPSBUJPOOPBTVNFOJOHVOBSFTQPOTBCJMJEBEZOPBDFQUBSFDMBNBDJwOBMHVOBQPSEBvPTZQFSKVJDJPTDPNPDPOTFDVFODJBEFMVTPEFFTUBJOGPSNBDJwOPEFDVBMRVJFSFSSPSVPNJTJwO-JFCFSU$PSQPSBUJPO5PEPTMPTEFSFDIPTSFTFSWBEPTBOJWFMNVOEJBM-BTFTQFDJDBDJPOFTFTUgOTVKFUBTBDBNCJPTTJOQSFWJPBWJTP
)1$4#30&4
*OGPSNBDJwOTPCSF&NFSTPO/FUXPSL1PXFS&NFSTPO/FUXPSL1PXFSFTVOBFNQSFTBEF&NFSTPO/:4&&.3RVFPGSFDFTPGUXBSFIBSEXBSFZTFSWJDJPTRVFNBYJNJ[BOMBEJTQPOJCJMJEBEMBDBQBDJEBEZFMSFOEJNJFOUPEFMPTDFOUSPTEFEBUPTZMBTJOTUBMBDJPOFTTBOJUBSJBTFJOEVTUSJBMFT$PNPMrEFSEFDPOBO[BFOFMTFDUPSEFMBTUFDOPMPHrBTJOUFMJHFOUFTEFJOGSBFTUSVDUVSBT&NFSTPO/FUXPSL1PXFSPGSFDFJOOPWBEPSBTTPMVDJPOFTEFHFTUJwOEFJOGSBFTUSVDUVSBTEFDFOUSPTEFEBUPTRVFQFSNJUFOVOBNBZPSDPPSEJOBDJwOFOUSFMPTTJTUFNBTJOGPSNgUJDPTZMBHFTUJwOEFJOTUBMBDJPOFTZRVFMPHSBOVOHSBOBIPSSPFOFSHnUJDPZVOBEJTQPOJCJMJEBEJOJOUFSSVNQJEBJOEFQFOEJFOUFNFOUFEFMBTEFNBOEBTEFDBQBDJEBE/VFTUSBTTPMVDJPOFTHP[BOEFVOTPQPSUFUnDOJDPBOJWFMNVOEJBMQSPQPSDJPOBEPQPSUnDOJDPTEFNBOUFOJNJFOUPMPDBMFTEF&NFSTPO/FUXPSL1PXFS1VFEFPCUFOFSNgTJOGPSNBDJwOTPCSFMPTQSPEVDUPTZTFSWJDJPTEF&NFSTPO/FUXPSL1PXFSFOXXX&NFSTPO/FUXPSL1PXFSDPN
0DJOBT
&NFSTPO/FUXPSL1PXFS7JB-FPOBSEP%B7JODJ;POB*OEVTUSJBMF5PHOBOB
1JPWFEJ4BDDP1BEVB*UBMJB
5FM'BY
NBSLFUJOHFNFB!FNFSTPOOFUXPSLQPXFSDPN
7JB'PSOBDF$BTUFM(VFMGP#PMPOJB*UBMJB
5FM'BY
FORVJSJFTDIMPSJEF!FNFSTPODPN
&NFSTPO/FUXPSL1PXFS&TQBvB
$&EVBSEP5PSSPKB
1PM*OE-FHBOnT.BESJE5FM'BY
TBMFTFT!FNFSTPOOFUXPSLQPXFSDPN
&EJDJP&VSPQB***$4BO3BGBFM
1PM*OE"MDPCFOEBT"MDPCFOEBT.BESJE5FM'BY
4QBJO4BMFTDIMPSJEF!&NFSTPODPN
(BSBOUJ[BNPTMBBMUBEJTQPOJCJMJEBEEFEBUPTZBQMJDBDJPOFTEFNJTJwODSrUJDB
"$1PXFS$POOFDUJWJUZ%$1PXFS
&NCFEEFE$PNQVUJOH&NCFEEFE1PXFS*OGSBTUSVDUVSF.BOBHFNFOU.POJUPSJOH
0VUTJEF1MBOU1PXFS4XJUDIJOH$POUSPMT1SFDJTJPO$PPMJOH
3BDLT*OUFHSBUFE$BCJOFUT4FSWJDFT4VSHF1SPUFDUJPO
Top Related