!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& ( /8 1+
!"#$% '$()*+,- ". /01
!"#$ #"&'()*+ "),')-+). */0 1234516
'*7+). -+#+)- 8!'"+ !9 #::)#$- 9!" +;) 9!'"+; 87"8'7+ """""""""" #$%&'( )&*&') +, *-'.%/*0 !""#$$##0
12 .+3'.& ,2 -/(+$$'440 %#&#'()'*+!""#$$)'*, """"""""""""" !< #==>?@ AB/C DE> '<FD>G -D?D>H .FHDBFID 8/JBD A/B DE> )?HD>B< .FHDBFID /A KFBLF<F?M "FIEC/<G .FNFHF/<M O?C>H "0 -=><I>BM .FHDBFID OJGL> """"""""""""" .)9)*.#*+3#::)$$#*+P- (!+7!* 9!" ")$)#-) :)*.7*& #::)#$ """""""""""""
$567 82 ,9:;<=><5 ./0'1#$ /& 2#3/4( ?6;9@ A2 *>B=77 /C:975DD6 ?2 &:@759 8:E6> -2 3F9;C:E 8+$') (*G HI 45F=>=:;: *16;F6 $2A2 A:>C=;JD5;0 (/ KLLLI &676MC5;6N OKLKP QRSTUSUS ,:<>=E=76N OKLKP VKVTIRLL ;WX9:;<=><5YW5;6>Z:@2<5E 85C; 42 395[;766 ?+44*$( \ ]$%^?& 44_ QLL IRDC )D966D $2A2 )F=D6 IILL A:>C=;JD5;0 (/ KLLLV &676MC5;6N OKLKP QKQTIQH` ,:<>=E=76N OKLKP SHHTHHV` ./0'1#$ &/4 %#&#'()'*+!""#$$)'* 2/5#4* 6, 73%/''#$$
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 1 /8 1+
!"#$% '$()*+,2 ". /01
(6X6;Z:;DT*MM677:;D .5B69D ,2 -<(5;;677 E516> X59 9676:>6 M6;Z=;J :MM6:7 MF9>F:;D D5 IQ #2)2/2 a UI`UOBP2 ?6 C:> B66; 59Z696Z D5 96M59D D5 DC6 3F96:F 5X _9=>5;> B@ ,6B9F:9@ S0 KLIH :;Z DC696X596 96bF6>D> 6cM6Z=D6Z B9=6X=;J :;Z Z=>M5>=D=5; 5X DC=> E:DD69 M9=59 D5 DC:D Z:D62 )C5F7Z DC6 /5F9D Z6>=96 :ZZ=D=5;:7 D=E6 D5 <5;>=Z69 DC6 =>>F60 C6 96>M6<DXF77@ 96bF6>D> : B9=6X :ZE=;=>D9:D=16 >D:@ 5X C=> 96M59D=;J Z:D6 M6;Z=;J DC=> /5F9Dd> Z=>M5>=D=5; 5X DC=> E5D=5;2 I &C=> <:>6 M96>6;D> DC6 >FB>D:;D=:7 =>>F6 5X [C6DC69 DC=> /5F9D => M96M:96Z D5 B6<5E6 DC6 X=9>D <5F9D =; C=>D59@ OB6>=Z6> DC6 Z=>D9=<D <5F9DP D5 C57Z DC:D :<D=5;> ;5D :DD6EMD=;J D5 6c69<=>6 :;@ J5169;E6;D:7 M5[69 ;5;6DC676>> <5;>D=DFD6 e5XX=<=:7 :<D=5;>f >5 75;J :> DC6@ :96 DC=;J> DC:D 5XX=<=:7> <F>D5E:9=7@ Z5g: Z6<=>=5; DC:D [5F7Z <96:D6 : <5;X7=<D [=DC Z6<=>=5;> 5X DC6 )FM96E6 /5F9D0 DC6 (2/20 ,=9>D0 :;Z '=JCDC /=9<F=D>0 :> [677 :> DC=> /5F9Dd> M9=59 Z6<=>=5;>0 :;Z DC:D [5F7Z 96157FD=5;=h6 M57=D=<> B@ Z9:E:D=<:77@ 6cM:;Z=;J DC6 J6;69:7 X6Z69:7 <599FMD=5; 7:[> D5 E:i6 6169@ M57=D=<:7 XF;Z9:=>69 DC:D 6c<C:;J6> e:<<6>>f 59 e<96Z=B=7=D@f X59 <:EM:=J; <5;D9=BFD=5;> =;D5 : X6Z69:7 X675;@2 X675;@2 &C:D 9=>i => M:9D=<F7:97@ M:9D=<F7:97@ :<FD6 [C6960 :> C6960 DC6 Z=>D9=<D <5F9D =;>D9F<D6Z DC:D ejDkC696 C:> B66; ;5 >FJJ6>D=5; >FJJ6>D=5; =; DC=> <:>6 DC:D -92 -<(5;;677 1=57:D6Z l=9J= l=9J=;=: ;=: 7:[2f &92 l572 mml%0 :D VIKH2 &5 Z:D60 DC6 ^5169;E6;D C:> ;5D <=D6Z :;@ =; :;@ WF9=>Z=<D=5; [=DC [=DC X:<D> 96E5D67@ 96>6EB7=;J 96>6EB7=;J DC6 X:<D> C6962
$59 C:> DC6 Z=>D9=<D Z=>D9=<D <5F9D 6169 <=D6Zg76D :75;6
Z=>D=;JF=>C6Zg:;@ 5X DC6 [677T96:>5;6Z 5FDT5XT<=9<F=D Z6<=>=5;> -92 -<(5;;677 C:> 96M6:D6Z7@ =;15i6Z DC:D >C5[ DC:D DC6 X:<D> M9516Z [696 ;5D : <9=E6 :;Z0 96J:9Z76>>0 DC:D DC6 WF9@ =;>D9F<D=5;> [696 [696 M96WFZ=<=:77@ 5169B95:Z2 %;Z66Z0 DC6 Z=>D9=<D <5F9D )84##( 9:*; 74, 73%/''#$$ :B5FD >6169:7 76J:7 7=E=D> 5; e5XX=<=:7 :<D=5;0f @6D ;6169 6cM7:=;6Z [C@ =D Z6<7=;6Z D5 D677 DC6 WF9@ :B5FD )'< 5X DC5>6 7=E=D> =; =D> =;>D9F<D=5;>g:; 5E=>>=5; DC:D =;1=D6Z DC6 WF9@ D5 <5;1=<D -92 -<(5;;677 X59 <5;ZF<D DC:D => 7:[XF7 F;Z69 DC6 Z=>D9=<D Z= >D9=<D <5F9Dd> 5[; M5>DTD9=:7 M5>DTD9=:7 5M=;=5;>2 I
-92>66i -<(5;;677 ;5D6>=;X59 DC6 /5F9Dd> <5;16;=6;< DC:D C6 B67=616> 5;6 59 E596 )=:3: 304:)# E:@ D5 X=76 B9=6X> >FMM59D 5X DC=><5;16;=6;<6 E5 D=5; X596B5;Z E5D=5; M6;Z=;J :MM6:72
TIT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 9 /8 1+
!"#$% '$()*+,3 ". /01
&C6 Z=>D9=<D <5F9D C:>0 C5[61690 96<5J;=h6Z DC:D DC6 ^5169;E6;Dd> <:>6 :J:=;>D -92 -<(5;;677 X:77> [677 5FD>=Z6 DC6 C6:9D7:;Z 5X MFB7=< <599FMD=5; <:>6>2 *> DC6 Z=>D9=<D <5F9D MFD =D :D >6;D6;<=;JN e%E:J=;6 =X DC6>6 ^F=Z67=;6> [696 [696 E:;Z:D59@ :;Z DC6 /5F9D C:Z ;5 <C5=<6 BFD D5 >6;D6;<6 ^5169;59 -<(5;;677 D5 >616; 59 6=JCD @6:9> =; M9=>5;2 &C:D [5F7Z B6 F;X:=92 F;X:=92 >* 9/0$( 5# 4:(:30$/01 0'(#4 *;#1# &)3*1 2f )6;D2 &92 :D IRH0 'c2 / O6EMC:>=> O6EMC:>=> :ZZ6ZP2 AC=76 DC6 Z=>D9=<D Z=>D9=<D
<5F9D Z6<7=;6Z D5 J9:;D B5;Z0 B5;Z 0 =D> 96<5J;=D=5; DC:D DC=> <:>6 => :D@M=<:7 F;Z69><596> DC6 X:<D DC:D -92 -<(5;;677d> :MM6:70 :D : E=;=EFE0 M96>6;D> e: n<75>6d bF6>D=5; 59 5;6 DC:D 169@ [677 <5F7Z B6 Z6<=Z6Z DC6 5DC69 [:@0f ?':*#( @*)*#1 A, @*#:';/4'0 SKR ,2KZ ISH0 ISV O`DC /=92 ISSIP OJ9:;D=;J B5;Z M6;Z=;J :MM6:7P0 :MM6 :7P0 [C=<C => :77 -92 -<(5;;677 ;66Z >C5[ C6962 )C5F7Z DC=> /5F9D :J966 DC:D -92 -<(5;;677 C:> E:Z6 DC:D 75[ >C5[=;J0 eDC6 >D:DFD6 6>D:B7=>C6> : 9=JCD D5 7=B69D@ DC:D => ;5D >=EM7@ Z=><96D=5;:9@ BFD E:;Z:D59@2f ?':*#( @*)*#1 A, !50;)=4)0 UQS ,2UZ ULS0 UIS OKZ /=92 KLL`P2 -92 -<(5;;677d> :MM6:7 [=77 9:=>6 >6169:7 bF6>D=5;> DC:D 6:>=7@ >:D=>X@ DC=> >D:;Z:9Z2 K 6:41*B D5 <5;1=<D -92 -<(5;;6770 : M95M697@ =;>D9F<D6Z WF9@ C:Z D5 X=;Z DC:D C6 M69X59E6Z
59 M95E=>6Z D5 M69X59E e5XX=<=:7 e5XX=<=:7 :<D>f =; 6c<C:;J6 X59 J=XD> :;Z 75:;>2 &C696 :96 >FB>D:;D=:7 >FB>D:;D=:7 bF6>D=5;> [C6DC69 OIP DC6 ^5169;E6;D M9516Z DC=> <9=D=<:7 676E6;D0 :;Z OKP DC6 Z=>D9=<D <5F9D M95M697@ =;>D9F<D6Z DC6 WF9@ 5; =D2
&C6 ^5169;E6;Dd> DC659@ [:> ;5D DC:D -92 -<(5;;677
6c69<=>6Z O59 M96>>F96Z 5DC69> D5 6c69<=>6P :<DF:7 :<DF:7 J5169;E6;D:7 M5[692 %;>D6:Z0 =D :776J6Z DC:D -92 -<(5;;677d> e5XX=<=:7 :<D>f <5;>=>D6Z 5X >6;Z=;J :; 6E:=7 :>i=;J C=> =;TC5F>6 <5F;>67 D5 e>66 E6f :B5FD :; =>>F60 :DD6;Z=;J D[5 616;D>0 :99:;J=;J 5;6 E66D=;J0 :;Z >FJJ6>D=;J 5;6 5DC69 E66D=;J2 $5 X6Z69:7 59 >D:D6 WFZ=<=:7 Z6<=>=5; C:> 6169 FMC67Z : B9=B69@ <5;1=<D=5; 5; >F<C XX:<D> :<D> 59 :MM9516Z =;>D9F<D=5;> M69E=DD=;J : <5;1=<D=5; X59 >F<C <F>D5E:9@ :<D=5;> DC:D Z5 ;5D E:i6 O59 M96>>F96 >5E65;6 67>6 D5 E:i6P :<DF:7 J5169;E6;D:7 Z6<=>=5;>2 &5 DC6 <5;D9:9@0 5M=;=5;> X95E K
:MM6:7 [=77 9:=>6 >FB>D:;D=:7 =>>F6> :;Z C6 =; ;5 [:@ <5;<6Z6> -92 C696 -<(5;;677d> DC:D C=> 5DC69 :MM677:D6 =>>F6> :96:ZZ=D=5;:7 :;@ 76>> >FB>D:;D=:72
TKT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& + /8 1+
!"#$% '$()*+,4 ". /01
DC6 )FM96E6 /5F9D :;Z DC6 ,=9>D0 '=JCDC0 :;Z (2/2 /=9<F=D> :77 E:i6 <76:9 DC:D M951=Z=;J : 96X699:70 >6;Z=;J :; =;X59E:D=5;:7 =;bF=9@0 59 :MM6:9=;J =; MFB7=< :96 ;5Dg[=DC5FD E596g e5XX=<=:7 :<D>2f &C=> =>>F6 DCF> 5B1=5F>7@ M96>6;D> : >FB>D:;D=:7 bF6>D=5;2 bF6>D=5;2 @#3/'( 0 DC696 => :7>5 : >FB>D:;D=:7 bF6>D=5; [C6DC69 DC6 Z=>D9=<D <5F9D <5;ZF<D6Z >FXX=<=6;D
15=9 Z=96 5X DC6 WF959> 5; M96D9=:7 MFB7=<=D@g:; =>>F6 5X X=9>D =EM96>>=5; =; DC=> /5F9D M5>D + @C:$$:'8 2 (F9=;J DC6 E5;DC> 76:Z=;J FM D5 -92 -<(5;;677d> D9=:70 DC696 [:> E:>>=16 ;6J:D=16 :;Z
=;:<<F9:D6 MFB7=<=D@ >F995F;Z=;J DC6 DC6 <:>62 &C6 Z=>D9=<D <5F9D0 C5[61690 96W6<D6Z -92 -<( -<(5;;677d> 5;;677d> 96bF6>D X59 =;Z=1=ZF:7=h6Z 15=9 Z=96 5X M5D6;D=:7 WF959> [C5 C:Z B66; 6cM5>6Z D5 >F<C MFB7=<=D@0 Z6>M=D6 75;J>D:;Z=;J M96<6Z6;D C57Z=;J DC:D WF959> =; C=JCTMFB7=<=D@ <:>6> >C5F7Z B6 e6c:E=;6Z0 =;Z=1=ZF:77@ :;Z 5FD>=Z6 DC6 M96>6;<6 5X DC6 5DC69 WF959>0 D5 Z6D69E=;6 DC6 6XX6<D 5X jM96D9=:7k MFB7=<=D@0f ?':*#( @*)*#1 A, D)'C:1;0 HLK ,2KZ RI0 RR O`DC /=92 ISR`P2 6:')$$<0 B5;Z M6;Z=;J :MM6:7 => M:9D=<F7:97@ :MM95M9=:D6 J=16; DC:D DC6 Z=>D9=<D <5F9D
=EM5>6Z : D[6;D@TX5F9 D[6;D@TX5F9 E5;DC >6;D6;<62 &C6 :MM677:D6 M95<6>> D:i6> D=E60 M:9D M:9D=<F7:97@ =<F7:97@ =; : <5EM76c <:>6 X5775[=;J : X=16T[66i WF9@ D9=:72 D9=:72 %; >F<C <=9<FE>D:;<6>0 96bF=9=;J -92 -<(5;;677 -<(5;;677 eD5 >6916 E5>D 59 :77 5X C=> >6;D6;<6 B6X596 C=> :MM6:7 C:> B66; Z6<=Z6Zf :;Z ej=k;<:9<69:D=;J jC=Ek n=EE6Z=:D67@ FM5; <5;1=<D=5;df [5F7Z e>FB>D:;D=:77@ Z=E=;=>C DC6 B6;6X=D C6 [5F7Z 59Z=;:9=7@ 96<6=16 X95E :; :MM6:72f ?':*#( @*)*#1 A, E)43:)0 U`L ,2UZ ILIU0 ILIS OSDC /=92 KLLUP2 U &C6 M5>>=B=7=D@ 5X DC=> J9:16 =;WF>D=<6 M951=Z6> :;5DC69 <5EM677=;J 96:>5; D5 J9:;D B5;Z2 9#8+'#$ Q#8R&"!'*.
&C6 ^5169;E6;Dd> <:>6 B675[ X5<F>6Z 5; -92 -<(5;;677d> =;D69:<D=5;> [=DC 85;;=6 .2
U
@## )$1/B #,8,0 ?':*#( @*)*#1 A, F)3C1/'0 UK ,2UZ IILI0 IIL` ORDC /=92 ISS`P OejAk6 [5F7Z 6;<5F9:J6 Z6X6;Z:;D> X:<=;J 967:D=167@ >C59D >6;D6;<6> D5 >66i 9676:>6 M6;Z=;J :MM6:7 59 E516 X59 :; 6cM6Z=D6Z :MM6:7 B6<:F>6 =D => 5XD6; Z=XX=<F7D D5 X=76 :; :MM6:70 Z5<i6D =D0 >6D : B9=6X=;J ><C6ZF760 C6:9 59:7 :9JFE6;D0 :;Z Z9:XD :; 5M=;=5; B6X596 : 169@ 169 @ >C59D >6;D6;<6 C:> B66; B6 6; @*)*#1=X A, >6916Z2fPo 0 VHI )FMM2 -Z2 ISQRP Oe&C696 >66E> 7=DD76 M5=;D ?':*#( D5 :; :MM6:7 DC6737)'01 Z6X6;Z:;D [=77 ,2 >6916 C=> UQK0 D=E6 UQUTQ` B6X596 :O(2 Z6<=>=5; => 96;Z696Z2fP2
TUT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& ) /8 1+
!"#$% '$()*+,/ ". /01
A=77=:E>0 )920 DC6 /'+ 5X : l=9J=;=: MFB7=< <5EM:;@0 [C=76 -92 -<(5;;677 [:> ^5169;59 5X l=9J=;=:2 &C6 %;Z=<DE6;D <C:9J6Z DC:D0 =; 6c<C:;J6 X59 J57X :;Z 75:;>0 -92 -<(5;;677 D55i e5XX=<=:7 :<D=5;f D5 :>>=>D -92 A=77=:E> :;Z C=> <5EM:;@0 )D:9 )<=6;D=X=< Oe)D:9fP2 I2
&C6
^5169;E6;Dd>
<:>6
C=;J6Z
5;
eX=16
>M6<=X=<
:<D=5;>
D:i6;
B@
-<(5;;677 2 2 2 2f $6[ &9=:7 +M2 :D V0 (iD2 HVRo 1## )$1/ &92 l572 mml :D VL`LT`K2 &C6@ [696N OIP
-92 -<(5;;677 >6;D :; 6E:=7 D5 C=> <C=6X <5F;>67 :>i=;J DC6 <5F;>67 D5 e>66 E6f :B5FD :; =>>F6 967:D6Z 967:D6Z D5 -92 A=77=:E>2 A=77=:E>2 O&C6 <5F;>67 ;6169 :<DF:77@ >:[ C=E2P @## &92 l572 l%%0 :D IVVHTVQ2
OKP
-92 -<(5;;677d> [=X6 =;1=D6Z -92 A=77=:E>0 >5E6 5X -92 A=77=:E>d :>>5<=:D6>0 :;Z M9=1:D6 Z5<D59> 96<5EE6;Z6Z B@ -92 A=77=:E> D5 : 96<6MD=5; X59 e?6:7DC<:96 46:Z69>2f O$5DC=;J 67>6 C:MM6;6Z2P @## &92 l572 %l0 :D RVITVU0 RQUTQHo &92 l572 %m0 :D KIKI0 KIVH2
OUP
-92 -<(5;;677 M5>>=B7@ >FJJ6>D6Z D5 D[5 >FB59Z=;:D6> DC:D DC6@ E66D [=DC )D:92 O&C6 >FB59Z=;:D6> Z=>:J966Z :B5FD [C6DC69 -92 -<(5;;677 E:Z6 DC6 96bF6>D0 DC6@ ;6169 E6D [=DC :;@5;60 :;Z DC6@ ;6169 C6:9Z :B5FD =D :J:=; X95E -92 -<(5;;677 59 :;@5;6 67>62P @## &92 l572 m%0 :D KVH`THH0 KVRHTRVo KVRSTQL0 KVVQTVS2
O`P
-92 -<(5;;677 :>i6Z : >FB59Z=;:D6 D5 >6;Z : >D:XX69 D5 : E66D=;J [=DC -92 A=77=:E>0 =EE6Z=:D67@ :XD69 [C=<C DC6 >D:XX69 >6;D -92 A=77=:E> : eB75[T5XX 6E:=72f O$5DC=;J 67>6 C:MM6;6Z2P @## &92 l572 l%%0 :D I`SKTSU0 IHLRTLQ0 IHIRTIQ ODC6 6E:=7 [:> en$5d [=DC : >E=76fP0 IHKK0 IHLRNQTKKo IHLRNQ TKKo :(, :D IHIRNKKTIHIQNK2
OHP
-92 -<(5;;677 :MM6:96Z :D : 7F;<C65; C67Z :D DC6 'c6<FD=16 -:;>=5; :;Z M:=Z X59 B@ C=> _*/0 X6:DF9=;J -92 A=77=:E> :;Z 96>6:9<C69> X95E DC6 #;=169>=D@ 5X l=9J=;=: Oe#l*fP :;Z l=9J=;=: /5EE5;[6:7DC #;=169>=D@ Oel/#fP0 :D [C=<C -92 A=77=:E> M96>6;D6Z : M59D=5; 5X pKLL0LLL X95E )D:9 D5 DC5>6 96>6:9<C69> :> M7:;;=;J J9:;D> D5 M96M:96 &5B:<<5 /5EE=>>=5; 96>6:9<C M95M5>:7>2 O$5 M95M5>:7> [696 6169 >FBE=DD6Z0 ;5B5Z@ X95E DC6 -<(5;;677 *ZE=;=>D9:D=5; 6169 E6;D=5;6Z DC6E :J:=;0 ;59 Z=Z :;@5;6 6169 <5;D:<D DC6 /5EE=>>=5;2P @## &92 l572 %l0 :D RKRTKQ0 RUUTU`o &92 l572 l%%%0 :D IRSUTSH0 IQILTIK2
-92 -<(5;;677 96M6:D6Z7@ :9JF6Z DC:D ;5;6 5X DC6>6 :<D=5;> bF:7=X@ :> e5XX=<=:7 :<D>f B6<:F>6 =; ;5;6 ;5 ;6 5X DC6E Z=Z C6 E:i60 ;59 M96>>F96 M 96>>F96 >5E65;6 67>6 D5 E:i60 :;@ :<DF:7 Z6<=>=5; 59 D:i6 :;@ 5DC69 :<D=5; 5; :;@ M6;Z=;J J5169;E6;D:7 E:DD692 ` ?6 96bF6>D6Z 96bF6>D6Z ;FE695F> =;>D9F<D=5;>
` %;
:ZZ=D=5; D5 E51=;J D5 Z=>E=>> DC6 =;Z=<DE6;D 5; DC=> B:>=>0 1## -6E2 (6X2 -5D2 D5 (=>E=>> /5F;D> ITII 5X DC6 %;Z=<DE6;D0 (iD2 ILV0 :D RTIS0 C6 E516Z X59 : ;6[ D9=:7 5; DC=>
T`T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& : /8 1+
!"#$% '$()*+,5 ". /01
96X76<D=;J DC:D 76J:7 M9=;<=M760 =;<7FZ=;J 5;6> >M6<=X@=;J DC:D eE6967@ :99:;J=;J : E66D=;J0 :DD6;Z=;J :; 616;D0 C5>D=;J : 96<6MD=5;0 59 E:i=;J : >M66<C :96 ;5D0 >D:;Z=;J :75;60 n5XX=<=:7 :<D>0d 616; =X DC6@ :96 >6DD76Z M9:<D=<6> 5X DC6 5XX=<=:70f .5B69D ,2 -<(5;;677d> _95M2 8F9@ %;>D9F<D=5;>0 (iD2 KQR0 :D RSo DC:D ejDkC6 bF6>D=5;> @5F EF>D Z6<=Z6 :96 B5DC [C6DC69 DC6 <C:9J6Z <5;ZF<D <5;>D=DFD6> : n>6DD76Z M9:<D=<6d )'( [C6DC69 [C6DC69 DC:D <5;ZF<D [:> =;D6;Z6Z D5 59 Z=Z =; X:<D =;X7F6;<6 : >M6<=X=< 5XX=<=:7 Z6<=>=5; DC6 J5169;E6;D :<DF:77@ E:i6>0f :(, :D RSTQLo :;Z DC:D eE696 =;J9:D=:D=5; :;Z :<<6>> :96 ;5D <599FMD=5;0f :(, :D RS2 &C6 Z=>D9=<D <5F9D 96XF>6Z DC6>6 96bF6>D> :;Z Z6<7=;6Z D5 M951=Z6 : Z6X=;=D=5; 5X e5XX=<=:7 :<Df DC:D 7=E=D6Z =D =; :;@ 96761:;D [:@0 616; DC5FJC DC=> 76J:7 =>>F6 [6;D D5 DC6 C6:9D 5X -92 -<(5;;677d> Z6X6;>62 %;>D6:Z0 :XD69 bF5D=;J DC6 >D:DFD59@ Z6X=;=D=5; 5X e5XX=<=:7 :<D=5;f X95E IQ #2)2/2 a KLIO:POUP0 H DC6 Z=>D9=<D <5F9D >D:D6Z O&92 l572 mml%0 :D VILKNKUTVILUNI`PN VILKNKUTVI LUNI`PN +XX=<=:7 :<D=5; :> % WF>D Z6X=;6Z =D =;<7FZ6> DC5>6 :<D=5;> DC:D C:16 B66; <76:97@ 6>D:B7=>C6Z B@ >6DD76Z M9:<D=<6 :> M:9D 5X : MFB7=< 5XX=<=:7d> M5>=D=5;0 616; =X DC6 :<D=5; [:> ;5D D:i6; MF9>F:;D D5 96>M5;>=B=7=D=6> 6cM7=<=D7@ :>>= :>>=J;6Z J;6Z B@ 7:[2 %; 5DC69 [59Z>0 5XX=<=:7 :<D=5;> E:@ =;<7FZ6 :<D> DC:D : MFB7=< 5XX=<=:7 <F>D5E:9=7@ M69X59E>0 616; =X DC5>6 :<D=5;> :96 ;5D Z6><9=B6Z =; :;@ 7:[0 9F760 59 W5B Z6><9=MD=5;2 *;Z : MFB7=< 5XX=<=:7 5XX=<=:7 ;66Z ;5D C:16 :<DF:7 59 X=;:7 :FDC59=D@ 5169 DC6 DC6 6;Z 96>F7D >5FJCD B@ : B9=B6 M:@59 >5 75;J :> DC6 :776J6Z B9=B6 M:@59 96:>5;:B7@ B67=616> DC:D DC6 MFB7=< 5XX=<=:7 C:Z =;X7F6;<60 M5[69 59 :FDC59=D@ 5169 : E6:;> D5 DC6 6;Z >5FJCD B@ DC6 B9=B6 M:@592 %; :ZZ=D=5;0 5XX=<=:7 5XX=<=:7 :<D=5; <:; =;<7FZ6 :<D=5;> D:i6; =; XF9DC69:;<6 5X 75;J69TD69E J5:7>0 :;Z :; 5XX=<=:7 :<D=5; => ;5 76>> 5XX=<=:7 B6<:F>6 =D => 5;6 =; : >69=6> 5X >D6M> D5 6c69<=>6 =;X7F6;<6 59 :<C=616 :; 6;Z2 K2 )6=h=;J 5; DC6 F;bF:7=X=6Z >D:D6E6;D DC:D DC6 >D:DFD59@ Z6X=;=D=5; 5X e5XX=<=:7 :<D=5;f e:'3$0(#1 *;/1# )3*:/'1 DC:D C:16 B66; <76:97@ 6>D:B7=>C6Z B@ >6DD76Z M9:<D=<6 :> M:9D 5X : MFB7=< O<5;D=;F6ZqP
J95F;Z0 1## -6E2 (6X2 -5D2 X59 $6[ &9=:70 (iD2 H`Q0 :D KTII0 :;Z DC966 D=E6> E516Z X59 :; :<bF=DD:7 5; =D0 1## (iD2 `LS0 :D IKTIRo &9=:7 &92 l572 mm%l0 :D HRUITUUo (iD2 HIL0 :D UTIH2 H
&C6 >D:DFD6 M95C=B=D=;J B9=B69@ X59 X6Z69:7 5XX=<=:7> Z6X=;6> e5XX=<=:7 :<Df :> X5775[>N ej*k;@ Z6<=>=5; 59 :<D=5; 5; :;@ bF6>D=5;0 E:DD690 <:F>60 >F=D0 M95<66Z=;J 59 <5;D95169>@0 [C=<C E:@ :D :;@ M6;Z=;J0 59 IQ [C=<C E:@aB@ 7:[ B6 2B95FJCD B6X596 :;@ MFB7=< 5XX=<=:70 =; >F<C 5XX=<=:7r> 5XXD=E6 5XX=<=:7 =<=:7 B6 <:M:<=D@2 2 2 2f #2)2/2 KLIO:POUP2 KLIO:POUP
THT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& ; /8 1+
!"#$% '$()*+,6 ". /01
5XX=<=:7d> M5>=D=5;fg:;Z DC6 6cM:;>=5; 5X =DgDC6 ^5169;E6;D 5M6;6Z =D> 96BFDD:7 :9JFE6;D B@ D677=;J DC6 WF9@N e-92 *>B=77 D:7i6Z :B5FD Z6X=;=;J bF52 2 2 2 3FD [C:D C6 X:=76Z D5 E6;D=5; => DC:D 5XX=<=:7 :<D=5; 2 2 2 =;<7FZ6> DC5>6 :<D=5;> DC:D C:16 B66; <76:97@ 6>D:B7=>C6Z B@ >6DD76Z M9:<D=<6 :> M:9D 5X : MFB7=< 5XX=<=:7d> M5>=D=5; 2 2 2 2 %; 5DC69 [59Z>0 5XX=<=:7 :<D=5;> E:@ =;<7FZ6 :<D> DC:D : MFB7=< 5XX=<=:7 <F>D5E:9=7@ M69X59E>0 616; 61 6; =X DC5>6 :<D=5;> :96 ;5D Z6><9=B6Z =; :;@ 7:[0 9F76 59 W5B Z6><9=MD=5;2f >(, :D VLUS2 ^=16; DC:D DC6 >D:DF> 5X -92 -<(5;;677d> :<D=5;> :> >6DD76Z M9:<D=<6> [:> ;5D Z=>MFD6Zg>=;<6 J5169;59> F;DC=;i=;J7 F;DC=;i=;J7@ @ E:i6 Z5h6;> 5X 5 X E66D=;J 96X699:7> :;Z >6;Z DC5F>:;Z> 5X 6E:=7> 6169@ [66igDC6 /'$< "04"/1# 5X DC:D :9JFE6;D [:> 6;<5F9:J=;J DC6 WF9@ D5 <5;1=<D -92 -<(5;;677 1/$#$< X59 6;J:J=;J =; >6DD76Z M9:<D=<6>2
&C6 WF9@ 5B7=J6Z0
<5;1=<D=;J -92 -<(5;;677 5; 67616; <5F;D> X59 <5EE=DD=;J0 :;Z <5;>M=9=;J D5 <5EE=D0 C5;6>D >691=<6> [=96 X9:FZ :;Z ?5BB> *<D 6cD59D=5;0 [C=76 :<bF=DD=;J C=E 5X DC6 ;5;T<599FMD=5; <C:9J6>2 U2
&C6 Z=>D9=<D <5F9D Z6;=6Z -92 -<(5;;677d> M5>DTD9=:7 E5D=5;> X59 : WFZJE6;D 5X
:<bF=DD:7 :;Z : ;6[ D9=:72 D9=:72 %D <5;<6Z6Z DC:D eE696 nj=k;J9:D=:D=5; :;Z :<<6>>d E:@ ;5D :75;6 <96:D6 : bF=Z M95 bF5 :J966E6;D [=DC=; DC6 E6:;=;J 5X DC6 B9=B69@ >D:DFD6>0f $6[ &9=:7 +M20 (iD2 HVR0 :D H ObF5D=;J .:*:G#'1 ?':*#( 0 HHQ #2)2 UIL0 UVL OKLILPP0 BFD ;5;6DC676>> FMC67Z -92 -<(5;;677d> <5;1=<D=5;>0 =;15i=;J :; O=;:MM5>=D6P )=cDC /=9<F=D Z=>>6;D D5 C57Z DC:D eD5 Z=>D=;JF=>C B6D[66; E696 :<<6>> :;Z X6Z69:7 <599FMD=5;0 DC6 /5F9D >C5F7Z 755i D5 -<(5;;677d> >FBW6<D=16 =;D6;D =; 96<6=1=;J DC6 E5;6@2f >(, O<=D=;J ?':*#( @*)*#1 A, %:=/4)0 RHL ,2UZ VIS0 VUK OVDC /=92 KLI`P O-699=DD0 O-699=DD0 820 Z=>>6;D=;JPP2 Z=>>6;D=;JPP2 +; DC=> B:>=>0 DC6 Z=>D9=<D <5F9D 99F76Z F76Z DC:D >F<C :<D=5;> :> 6E:=7=;J C=> <C=6X <5F;>670 59 >FJJ6>D=;J : E66D=;J [=DC )D:9 96M96>6;D:D=16>0 bF:7=X@ :> e5XX=<=:7 :<D>f B6<:F>6 -92 -<(5;;677 >FMM5>6Z7@ C:Z DC6 5169:9<C=;J =;D6;D 5X Z5=;J DC=;J> eD5 76J=D=E=h60 M95E5D60 :;Z 5BD:=; 96>6:9<C >DFZ=6> X59 )D:9 )<=6;D=X=< M95ZF<D>0f :(, :D HTRg:; :776J6Z 5169:9<C=;J =;D6;D DC:D DC6 Z=>D9=<D <5F9Dd> =;>D9F<D=5;> (:( '/* 4#H0:4# *;# I04< */ &:'( 2
TVT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& < /8 1+
!"#$% '$()*+,7 ". /01
+; 8:;F:9@ IU0 KLIH0 DC6 Z=>D9=<D <5F9D Z6;=6Z B5;Z M6;Z=;J :MM6:72 @## 'c2 *2 #"&'()*+
&C6 >D:;Z:9Z X59 J9:;D=;J B5;Z M6;Z=;J :MM6:7g[C6960 :> C6960 DC696 => ;5 9=>i 5X X7=JCD0 ;5 Z:;J69 D5 DC6 <5EEF;=D@0 :;Z DC6 :MM6:7 => ;5D D:i6; >5767@ X59 MF9M5>6> 5X Z67:@g=> E6967@ [C6DC69 DC6 :MM6:7 M96>6;D> e: >FB>D:;D=:7 bF6>D=5; 5X 7:[ 59 X:<Df DC:D0 =X >F<<6>>XF70 => e7=i67@ D5 96>F7D =; 96169>:7 59 :; 59Z69 X59 : ;6[ D9=:7 5X :77 <5F;D> 5; [C=<C =EM9=>5;E6;D C:> B66; =EM5>6Z2f ?':*#( @*)*#1 A, 7:$$#4 0 RHU ,2KZ IS0 K` OUZ /=92 ISQHP2 -92 -<(5;;677 ;66Z ;5D >C5[ C6 => 7=i67@ D5 >F<<66Z 5; DC6 E69=D>o 9:DC690 C6 ;66Z >C5[ /'$< DC:D C=> :MM6:7 M96>6;D> e: n<75>6d bF6>D=5; 59 5;6 DC:D 169@ [677 3/0$( 5# Z6<=Z6Z DC6 5DC69 [:@2f @*#:';/4'0 SKR ,2KZ :D ISV O6EMC:>=> :ZZ6ZP2 *MM677:D6 <5F9D> DCF> 95FD=;67@ J9:;D Z6X6;Z:;D> 7=i6 7=i6 -92 -<(5;;677 B5;Z M6;Z=;J :MM6:7 =; 7=JCD 5X DC6 >FB>D:;D=:7 bF6>D=5;> DC:D :9=>6 [C6; DC6 1:JF6 X6Z69:7 <599FMD=5; 7:[> :96 :MM7=6Z D5 ;5167 X:<D> V g616; [C6960 :> =; F#&)/' :;Z 5DC69 <5EM76c <:>6>0 DC6@ F7D=E:D67@ :XX=9E DC6 <5;1=<D=5;>2 R %;Z66Z0 WF>D 7:>D ,9=Z:@0 DC6 ,=9>D /=9<F=D J9:;D6Z B5;Z =; : >=E=7:9 M6;Z=;J MFB7=< M FB7=< <599FMD=5; <:>62 @## +9Z690 ?':*#( @*)*#1 A, JKL4:#'0 /:>6 $52 I`TKUIK0 'c2 (2 %D => DCF> ;5 >F9M9=>6 >F9M9=>6 DC=> /5F9D 96JF7:97@ J9:;D> B5;Z M6;Z=;J :MM6:7 [C6960 :> C6960 DC6 Z6X6;Z:;D >:D=>X=6> a UI`UOBP2 -92 -<(5;;677d> :MM6:7 7=i6[=>6 7=i6[=>6 <76:9> DC=> 75[ CF9Z762
V
@##B #,8,B +9Z690 ?':*#( @*)*#1 A, F#&)/' 0 $52 LRT/.TKLS O'2(2 l:2 $512 IQ0 KLLSP0 (iD2 VIS OJ9:;D=;J B5;Z M6;Z=;J :MM6:7 5; bF6>D=5; [C6DC69 <69D:=; :<D=5;> <5;>D=DFD6Z e5XX=<=:7f :<D=5;> F;Z69 X6Z69:7 7:[Po +9Z690 ?':*#( @*)*#1 A, 2:'8 0 $52 LQT/.TKR` O(2(2/2 +<D2 KV0 KLIIP0 (iD2 KSR0 :D U Oe<C:776;J=;J :;Z ;5167 bF6>D=5;> 5X 7:[ 96J:9Z=;Jf DC6 :MM7=<:D=5; 5X DC6 X6Z69:7 B9=B69@ 7:[> =; DC6 75BB@=;J <5;D6cDPo +9Z690 ?':*#( @*)*#1 A, @:#8#$=)'0 $52 LRT IUIVUT33 OIIDC /=92 -:92 KR0 KLLQP0 'c2 ( D5 -6E2 =; )FMM59D 5X (6X2 .5B69D ,2 -<(5;;677d> -5D2 X59 .676:>6 _6;Z=;J *MM6:70 (iD2 VLK O:Z6bF:<@ 5X DC6 WF9@ =;>D9F<D=5;> J5169;=;J ?5BB> *<D <5;1=<D=5; 5X X59E69 *7:B:E: J5169;59Po +9Z690 ?':*#( @*)*#1 A, 2<)'0 $52 LVTUHKQ ORDC /=92 $512 KQ0 KLLVP OX59E69 %77=;5=> J5169;59P2 R
@## ?':*#( @*)*#1 A, E0"*)0 R`R ,2UZ III0 IKK0 I`L OKZ /=92 KLI`Po ?':*#( @*)*#1 A, @:#8#$=)'0 V`L ,2UZ IIHS0 IISL OIIDC /=92 KLIIPo ?':*#( @*)*#1 A, M)33;:/0 HHH ,2UZ IKU`0 IKHS OILDC /=92 KLLSPo ?':*#( @*)*#1 A, N)4'#4 0 `SQ ,2UZ VVV0 RL`TLH ORDC /=92 KLLRPo 1## )$1/B ) $1/B #,8,0 ?':*#( @*)*#1 A, O)&* 0 $52 L`TLHIUL O,6B2 KQ0 KLLHP0 (iD2 UIo ?':*#( @*)*#1 A, P$$:/* 0 $52 LKT L`QUV O$512 I0 KLLKP0 (iD2 I`o ?':*#( @*)*#1 A, Q)4C#4 0 $52 LITL`ILS O,6B2 KI0 KLLIP0 (iD2 ILo ?':*#( @*)*#1 A, 2/5:'1/' 0 $52 SHTLRVKL O*M9=7 IR0 ISSVP0 (iD2 IR2
TRT
!""#$%& ()*+,(-
70
./0& 1*(
23%#4& ,(5(+51,()
67& - /8 1+
!"#$% '$()*+,0 ". /01
+E>B> 7H # -JSHD?<DF?@ ,J>HDF/< TE>DE>B (B0 (I./<<>@@ :>BA/BC>G !B :B/CFH>G +/ :>BA/BC #< U!AAFIF?@ #ID0V
-92 -<(5;;677d> :MM6:7 M96>6;D> DC6 >FB>D:;D=:7 bF6>D=5; [C6DC69 : MFB7=< 5XX=<=:7 D:i6> e5XX=<=:7 :<D=5;f [C6; C6 :>i> :; :=Z6 : bF6>D=5;0 6;<5F9:J6> : >D:XX69 D5 :DD6;Z : E66D=;J0 59 :MM6:9> :D : M9=1:D60 <75>6ZTM96>> 616;D0 [=DC5FD D:i=;J DC6 :ZZ=D=5;:7 >D6M 5X :>i=;J :;@5;6 D5 D:i6 :;@ M:9D=<F7:9 :<D=5; 5; DC6 J5169;E6;Dd> J5169;E6;Dd> B6C:7X2 &C=> <:>6 => DC6 X=9>D X=9>D =; C=>D59@ D5 X=;Z DC:D DC6>6 >59D> 5X :<D=5;> :96 e5XX=<=:7f 5;6> F;Z69 X6Z69:7 7:[2 (6<=>=5;> 5X DC6 )FM96E6 /5F9D0 /5F9D0 DC6 '=JCDC0 ,=9>D0 :;Z (2/2 /=9<F=D>0 :;Z DC=> /5F9D :77 >FMM59D -92 -<(5;;677d> M5>=D=5; DC:D C=> :<D=5;> [696 ;5D e5XX=<=:7f 5;6>2 &C5>6 Z6<=>=5;> E:i6 DC=> : M:9:Z=JE:D=< >FB>D:;D=:7 bF6>D=5;2 #0
+E> -J=B>C> 8/JBD ;?H ;>@G +E?D U!AAFIF?@ #IDF/<V ./>H */D 7<I@JG> )N>BWDEF<L # :JS@FI !AAFIF?@ ./>H 7< ;FH !AAFIF?@ 8?=?IFDW0
&C6 )FM96E6 /5F9D C:> 75;J B66; C5>D=76 D5 6cM:;>=16 <5;>D9F<D=5;> 5X DC6 X6Z69:7 <599FMD=5; 7:[>2 %; e:; :96: :96: [C696 M96<=>67@ M96<=>67@ D:9J6D6Z M95C=B=D=5;>fg7=i6 M95C=B=D=5;>fg7=i6 6DC=<> 96JF7:D=5;>g e:96 <5EE5;M7:<60f : <599FMD=5; >D:DFD6 eDC:D <:; 7=;JF=>D=<:77@ B6 =;D69M96D6Z D5 B6 6=DC69 : E6:D :c6 59 : ><:7M67 >C5F7Z 96:>5;:B7@ B6 D:i6; D5 B6 DC6 7:DD692f ?':*#( @*)*#1 A, @0'+%:)=/'( E4/9#41 /& .)$,0 HKV #2)2 USQ0 `IK OISSSP2 /5F9D> e5FJCD ;5D 6cM:;Z jDC6 B9=B69@k M=6<6 5X DC6
96JF7:D59@ MFhh76 >5 Z9:E:D=<:77@ :> D5 E:i6 E:;@ 5DC69 M=6<6> E=>X=D>2f >(, +9 =; 96W6<D=;J 96W6<D=;J DC6 57Z C5;6>DT>691=<6> DC659@N e.:DC69 DC:; <5;>D9F6 DC6 DC6 >D:DFD6 =; : E:;;69 DC:D 76:16> =D> 5FD69 B5F;Z:9=6> :EB=JF5F> :;Z =;15716> DC6 ,6Z69:7 ^5169;E6;D =; >6DD=;J >D:;Z:9Z> 5X Z=><75>F96 :;Z J55Z J5169;E6;D X59 75<:7 :;Z >D:D6 5XX=<=:7>0 [6 96:Z a IU`I :> 7=E=D6Z =; ><5M6 D5 DC6 M95D6<D=5; 5X M95M69D@ 9=JCD>2f 73M)$$< A, ?':*#( @*)*#10 `QU #2)2 UHL0 UHS OISQRP2 &C6 /5F9Dd> E5>D 96<6;D 961=6[ 5X DC6>6 >D:DFD6> =; @C:$$:'8 A, ?':*#( @*)*#10 HVI #2)2 UHQ OKLILP0 F;:;=E5F>7@ 96W6<D6Z DC6 ^5169;E6;Dd> :DD6EMD D5 6cM75=D DC6 1:J:9=6> 5X C5;6>D >691=<6> X9:FZ0 C57Z=;J =D e<9=E=;:7=h6> 5;7@ DC6 B9=B6T:;ZTi=<iB:<i <596 5X DC6 M96T 73M)$$< 73M)$$< <:>6 7:[2f >(, :D `LS2 $5D:B7@0 DC6 Z6B:D6 [:> ;5D :B5FD [C6DC69 DC6 ^5169;E6;Dd> DC659@ [:> <5996<Dg:77
TQT
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (, /8 1+
!"#$% '$()*+,-8 ". /01
:J966Z =D [:> ;5D2 %D [:>0 =;>D6:Z0 B6D[66; WF>D=<6> [C5 B67=616Z DC6 >D:DFD6 <5F7Z B6 <5;>D9F6Z ;:995[7@0 :(,0 :;Z DC5>6 [C5 DC5FJCD =D F;<5;>D=DFD=5;:77@ 1:JF60 :(, :D `KH O)<:7=:0 &C5E:>0 ]6;;6Z@0 8820 <5;<F99=;J =; DC6 WFZJE6;DP2 '=DC69 :MM95:<C >FMM59D> -92 -<(5;;677 C6962 &C6 )FM96E6 /5F9Dd> Z6<=>=5; =; @0'+%:)=/'( XF9DC69 >FMM59D> -92 -<(5;;677d> M5>=D=5;2 &C6960 DC6 ^5169;E6;D :9JF6Z DC:D DC6 J9:DF=D=6> >D:DFD6 e96bF=96> 5;7@ : >C5[=;J DC:D : nJ=XD [:> E5D=1:D6Z0 :D 76:>D =; M:9D0 B@ DC6 96<=M=6;Dd> <:M:<=D@ D5 6c69<=>6 J5169;E6;D:7 M5[69 59 =;X7F6;<6 =; DC6 Z5;59d> X:159d [=DC5FD ;6<6>>:9=7@ >C5[=;J DC:D =D [:> <5;;6<D6Z D5 : M:9D=<F7:9 5XX=<=:7 :<D2f
HKV #2)2 :D `LHTLV2
&C6 /5F9D 96W6<D6Z DC:D B95:Z <5;>D9F<D=5;0
6cM7:=;=;J DC:D [C6; =;D69M96D=;J <599FMD=5; M951=>=5;> [C=<C :96 eE6967@ 5;6 >D9:;Z 5X :; =;D9=<:D6 [6B 5X 96JF7:D=5;>0 B5DC :ZE=;=>D9:D=16 :;Z <9=E=;:70 J5169;=;J DC6 :<<6MD:;<6 5X J=XD> :;Z 5DC69 >67XT6;9=<C=;J :<D=5;> B@ MFB7=< 5XX=<=:7>0f <5F9D> >C5F7Z J=16 DC5>6 M951=>=5;> e: ;:995[0 9:DC69 DC:; : >[66M=;J0f =;D69M96D:D=5;2 >(, :D `LS2 /5;>=>D6;D [=DC [=DC DC:D JF=Z:;<60 DC6 /5F9D 6cM7:=;6Z DC:D F;Z69 DC6 >D:DFD59@ Z6X=;=D=5; 5X e5XX=<=:7 :<D0f E:;@ 5X : MFB7=< 5XX=<=:7d> :<D=5;>g>F<C :> e96<6=1=;J jk >M59D> D6:E> :D DC6 AC=D6 ?5F>60 1=>=D=;J j:k C=JC ><C5570 :;Z >M6:i=;J D5 jk X:9E69> :B5FD #)(* M57=<@fge[C=76 DC6@ :96 :>>F96Z7@ n5XX=<=:7 :<D>d =; >5E6 >6;>6g:96 ;5D n5XX=<=:7 :<D>d [=DC=; DC6 E6:;=;J 5X DC6 >D:DFD62f >(, :D `LR2 ?6960 DC6 ^5169;E6;Dd> 76J:7 DC659@ :;Z DC6 Z=>D9=<D <5F9Dd> WF9@ =;>D9F<D=5;> =J;596 DC6 B:>=< D6:<C=;J 5X DC6>6 Z6<=>=5;>, .:DC69 DC:; 96>D9:=; =D>67X D5 M95>6<FD=;J <5;ZF<D =; eDC6 B9=B6T :;ZTi=<iB:<i <596 5X DC6 M96T 73M)$$< 73M)$$< <:>6 7:[0f :(, :D `LS0 DC6 ^5169;E6;D C:> D:i6; DC6 M5>=D=5; DC:D B9=B69@ <:MDF96> 95FD=;6 M57=D=<:7 <5;ZF<D DC:D 1=9DF:77@ 6169@ MFB7=< 5XX=<=:7 F;Z69D:i6> 5; : 96JF7:9 B:>=>2 B:>=>2 ej/k:EM:=J; <5;D9=BFD=5;> q ;5 76>> DC:; :;@ 5DC69 M:@E6;D>0f <:; B6 DC6 H0:( =; =; : H0:( "4/ H0/ B9=B69@ ><C6E62 ?':*#( @*)*#1 A, %#44:3C 0 IVU ,2UZ RSS0 QIVT IR O`DC /=92 ISSQP2 &C:D E6:;> DC:D =X M951=Z=;J 96X699:7> 96X699:7> D5 5DC69 J5169;E6;D 5XX=<=:7> 59
TST
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (( /8 1+
!"#$% '$()*+,-- ". /01
<5;X699=;J <96Z=B=7=D@ <5;>D=DFD6 e5XX=<=:7 :<D>0f DC6; 1=9DF:77@ 6169@ M57=D=<:7 XF;Z9:=>69 1=57:D6> DC6 X6Z69:7 B9=B69@ 7:[>0 X966=;J M95>6<FD59> D5 <C55>6 D:9J6D> :D [=772 Q &C:D DC659@ => =;<5996<D0 M:9D=<F7:97@ =; 7=JCD 5X DC6 )FM96E6 /5F9Dd> 96<5J;=D=5; DC:D DC6 ,=9>D *E6;ZE6;D M95D6<D> DC=> >MC696 5X M57=D=<:7 :<D=1=D@0 >F<C DC:D eJ5169;E6;D 96JF7:D=5; E:@ ;5D D:9J6D DC6 J6;69:7 J9:D=DFZ6 : <:;Z=Z:D6 E:@ X667 D5[:9Z DC5>6 [C5 >FMM59D C=E 59 C=> :77=6>0 59 DC6 M57=D=<:7 :<<6>> >F<C >FMM59D E:@ :XX59Z2f 73.0*3;#/' A, 6#(, P$#3*:/' ./==K'0 IU` )2 /D2 I`U`0 I``I OKLI`P2 *D DC6 169@ 76:>D0 DC6 <5996<D;6>> 5X DC:D DC659@ DC659 @ M96>6;D> : >FB>D:;D=:7 bF6>D=5; F;Z69 a UI`UOBP2 Q0
(B0 (I./<<>@@PH :/HFDF/< 7H -J==/BD>G QW .>IFHF/<H 9B/C +EB>> !DE>B 8/JBDH /A #==>?@H #<G 7H .FHDF<LJFHE?S@> 9B/C !"##"$%&' 0
$FE695F> X6Z69:7 :MM677:D6 <5F9D Z6<=>=5;> >FMM59D -92 -<(5;;677d> M5>=D=5;2
&C6
Z=>D9=<D <5F9Dd> 5M=;=5;> Z5 ;5D 616; <=D6gEF<C 76>> :DD6EMD D5 Z=>D=;JF=>CgDC6>6 9F7= 9F7=;J>2 ;J>2 *;Z F#&)/'0 DC6 <:>6 DC:D DC6 Z=>D9=<D <5F9D :;Z DC6 DC6 ^5169;E6;D Z5 967@ 5;0 => ;5D 5; M5=;D2 &C6>6
Z6<=>=5;> 6>D:B7=>C : M:9:Z=JE:D=< e>FB>D:;D=:7 bF6>D=5;f F;Z69 a UI`UOBP2 UI` UOBP2 10
)FLEDE 8FBIJFD0 ?':*#( @*)*#1 A, 2)55:** 0 HQU ,2KZ ILI` OQDC /=92 ISRQP0
)54/8)*#( /' /*;#4 84/0'(1 5< `QU #2)2 UHL OISQRP0 10"#41#(#( 5< 1*)*0*#0 IQ #2)2/2 a IU`V0 :;
C5;6>D >691=<6> X9:FZ X9:FZ :;Z ?5BB> *<D <:>60 Z=96<D7@ >FMM59D> -92 -92 -<(5;;677d> M5>=D=5;2 &C6960 DC6 '=JCDC /=9<F=D 96169>6Z DC6 ?5BB> *<D <5;1=<D=5; 5X -=>>5F9=d> )M6:i69 5X DC6 ?5F>6 [C5 e5XX696Z0 X59 : X66 2 2 2 0 D5 =;D95ZF<6 j:; :9<C=D6<DF9:7k X=9E D5 j>D:D6 5XX=<=:7>k [C5 E=JCD B6 :B76 D5 >6<F96 :9<C=D6<DF9:7 <5;D9:<D> X59 =D2f >(, :D ILKL2 &C6 <5F9D C67Z DC:D [:> ;5D 6;5FJC D5
Q
^5169;E6;D 5XX=<=:7> 95FD=;67@ <5;X69 =;<96:>6Z :<<6>> :;Z <96Z=B=7=D@ 5; DC6=9 >FMM59D69>2 @##B #,8,0 8=E ]FC;C6;;0 L)4)3C J5)=) E/#1 */ %4#)=N/4C1B O)$C1 L)'I/ 9:*; @*#A# 7)4*:'0 ?FXX=;JD5; _5>D O$512 O$512 KV0 KLIUP Oej_96>=Z6;Dk Oej_96>=Z6;Dk +B:E: D5F96Z DC6 (96:EA59i> *;=E:D=5; >DFZ=5 5X 5;6 5X C=> D5M M57=D=<:7 B6;6X:<D59>0 86XX96@ ]:Dh6;B69J 2 2 2 n/:;dD [:=D D5 >66 @5F9 ;6cD E51=60d +B:E: :ZZ6Z [=DC : J9=;2fP0 CDDMNssD=;@F972<5Es551ShRU2 CDDMNssD=;@F972<5Es551ShRU2 &C:D =;<7FZ6> 5XX=<=:7> [C5 :<<6MD M69>5;:7 B6;6X=D> 7=i6 X966 D9:167gDC6 J9:1:E6; 5X E5>D <5;1=<D=5;> C6962 @##B #,8,0 -:ZZ@ ):F690 .4)3C(/9' Q4/"/1#( /' F0(8#1K 64## O4:"1B R)A:1; E:&*10 *3/ $6[> O,6B2 KLLQP<5;X7=<D> Oej/k9=D=<> >:@ E:;@ 5X:1:=7:B76 DC6>6 D9=M> :96 7=DD76 E596 DC:; WFZ=<=:7 WF;i6D> [C=<C 5XD6; <:F>6 `0 >69=5F> 5X =;D696>D2fP0 :D CDDMNssJ552J7sR<?@Zi2
T IL T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (1 /8 1+
!"#$% '$()*+,-2 ". /01
>FMM59D : <5;1=<D=5;N ejAkC=76 .:BB=DDd> =;X7F6;<6 5B1=5F>7@ C67M6Z DC6>6 :9<C=D6<D> 5BD:=; >D >D:D6 :D6 W5B>0 ;5 D6>D=E5;@ 6>D:B7=>C6Z DC:D :;@ :; @ >D:D6 <5;D9:<D=;J 5XX=<69 :[:9Z6Z :;@ :; @ <5;D9:<D D5 369J69T ,=67Z B6<:F>6 5X .:BB=DDd> =;X7F6;<6 59 DC:D 369J69T,=67Z B67=616Z .:BB=DDd> =;D95ZF<D=5; [:> 6;5FJC D5 >6<F96 DC6 [59i2f >(, :D ILKQ2 *> DC6 '=JCDC /=9<F=D C:> >FB>6bF6;D7@ 6cM7:=;6Z0 =D 96169>6Z -92 .:BB=DDd> <5;1=<D=5; B6<:F>6 C6 eM95E=>6Z 5;7@ D5 =;D95ZF<6 DC6 X=9E D5 =;X7F6;D=:7 M69>5;>f :;Z eZ=Z ;5D M95E=>6 D5 F>6 C=> 5XX=<=:7 M5>=D=5; D5 =;X7F6;<6 DC5>6 M69>5;>2f ?':*#( @*)*#1 A, R/&*010 SSK ,2KZ RSU0 RSV OQDC /=92 ISSUP2 2)55:** >FMM59D> >FMM59D> -92 -<(5;;677d> :9JFE6;D DC:D D:i=;J :; 5XX=<=:7 :<D 96bF=96> E596 DC:;
:99:;J=;J E66D=;J> >5 DC:D DC6 B6;6X:<D59 <:; Z=><F>> : E:DD69 C6 => <5;<69;6Z :B5FD2 &C6 '=JCDC /=9<F=D C67Z DC:D =D [:> ;5D 6;5FJC X59 -92 .:BB=DD D5 96<5EE6;Z B9=B6 M:@59> eD5 >D:D6 <5;D9:<D59> :> bF:7=X=6Z :9<C=D6<D> :;Z DC696B@ J:=; DC6E : X9=6;Z7@ 6:9f =; MF9>F=D 5X DC6=9 J5:7 5X e5BD:=;j=;Jk >D:D6 >D:D6 W5B>2f HQU ,2KZ :D ILKQ2 &5 D:i6 e5XX=<=:7f :<D=5;0 :<D=5;0 DC6 5XX=<=:7 C:Z D:i6 DC6 '#S* >D6M >D6M 5X eF>j=;Jk C=> 5XX=<=:7 M5>=D=5; D5 =;X7F6;<6 DC5>6 M69>5;>2f R/&*010 SSK ,2KZ :D RSV2 X0
9FBHD 8FBIJFD0 &C6 ,=9>D /=9<F=Dd> Z6<=>=5; =; ?':*#( @*)*#1 A, ?43:0/$:0 HIU ,2UZ
KSL0 KSHTSV OI>D /=92 KLLQP0 :; C5;6>DT>691=<6> X9:FZ <:>60 :7>5 >D95;J7@ >FMM59D> -92 -<(5;;677d> M5>=D=5;2 &C6960 DC6 <5F9D 96169>6Z DC6 <5;1=<D=5; 5X : >D:D6 >6;:D59 [C5 D55i M:@E6;D> =; 6c<C:;J6 X59 <5;D:<D=;J eE:@59> :;Z 5DC69 75<:7 5XX=<=:7> F9J=;J DC6E D5 <5EM7@ [=DC .C5Z6 %>7:;Z 7:[f =; : [:@ DC:D B6;6X=D6Z DC6 :776J6Z B9=B6TM:@59d> C5>M=D:72 >(, :D KS`2 8FZJ6 35FZ=;d> 5M=;=5; X59 DC6 <5F9D C67Z DC:D DC696 [:> e;5 =;Z=<:D=5; DC:D jDC6 >6;:D59k =;15i6Z :;@ MF9M59D6Z 5169>=JCD :FDC59=D@ 59 DC96:D6;6Z D5 F>6 5XX=<=:7 M5[69> =; >FMM59D 5X C=> :Z15<:<@2f >(, :D KSV2 %D >M6<=X=<:77@ 96W6<D6Z DC6 ;5D=5; DC:D eD9:Zj=;Jk 2 2 2 5; DC6 96MFD:D=5;0 ;6D[59i :;Z =;X7F6;<6 DC:D <5E6> [=DC M57=D=<:7 5XX=<6f 59 F>=;J DC6 e:<<6>> :;Z :DD6;D=5;f DC:D <5E6> [=DC : J5169;E6;D D=D760 59 616; DC6 eOM5>>=B7@ =EM95M69P F>6 5X >6;:D6 76DD69C6:Zf [696
T II T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (9 /8 1+
!"#$% '$()*+,-3 ". /01
>FXX=<=6;Dg>D:;Z=;J :75;6gD5 bF:7=X@ :> =EM95M69 5XX=<=:7 :<D=5;2 >(, :D KSV2 &C:D Z6<=>=5; <5;X7=<D> [=DC DC6 ^5169;E6;Dd> M5>=D=5;2 ?6960 D550 DC696 => ;5 61=Z6;<6 O59 WF9@ =;>D9F<D=5; 96bF=9=;J : X=;Z=;JP DC:D -92 -<(5;;677 6169 e=;15i6Z :;@ MF9M59D6Z 5169>=JCD :FDC59=D@ 59 DC96:D6;6Z D5 F>6 5XX=<=:7 M5[69>2f >(, -59651690 DC6 61=Z6;<6 =; ?43:0/$: E:Z6 <76:9 DC:D DC6 Z6X6;Z:;D E:Z6 M:@E6;D> D5 DC6 MFB7=< 5XX=<=:7 >M6<=X=<:77@ =; 6c<C:;J6 X59 5BD:=;=;J :<<6>> :> M:9D 5X : B95:Z69 M7:; D5 <5;1=;<6 E:@59> D5 =;<96:>6 :EBF7:;<6 >691=<6 D5 DC6 Z6X6;Z:;Dd> C5>M=D:72 @## :(, :D KSK0 KSH2
(6>M=D6 : <76:9 H0:( "4/ H0/ :;Z 7:9J69 M7:;0 =D
[:> ;5D C5;6>D >691=<6> X9:FZ B6<:F>6 DC6 ^5169;E6;D C:Z ;5D >C5[; eB@ <5;D6cD 59 DC96:D DC:D jDC6 5XX=<=:7k >5FJCD Z67=B69:D67@ D5 6cM75=Df DC6 e76169:J6f 5X 5 X C=> MFB7=< 5XX=<62 >(, :D KSV2 Y0
.080 8FBIJFD0 &C6 76:Z=;J (2/2 /=9<F=D Z6<=>=5; 5; DC=> =>>F6 => =D> #' 5)'3
5M=;=5; =; T)$(#12 &C6960 : M57=<6E:; [:> <5;1=<D6Z 5X D:i=;J M:@E6;D> =; 6c<C:;J6 X59 F>=;J :; 5XX=<=:7 M57=<6 Z:D:B:>6 D5 M69X59E >6:9<C6> X59 7=<6;>6 M7:D6>0 e5>D6;>=B7@ D5 J6D <5;D:<D =;X59E:D=5; 5; =;Z=1=ZF:7> [C5 5[6Z jDC6 B9=B6TM:@59k E5;6@2f T)$(#1 A, ?':*#( @*)*#1B `RH ,2UZ IUIS0 IUKITKK O(2/2 /=92 KLLRP O6; B:;<P2 &C6 (2/2 /=9<F=D C67Z DC:D <5;ZF<D=;J DC6>6 >6:9<C6> X59 DC6 :776J6Z :776J6Z B9=B6TM:@59 [:> ;5D e5XX=<=:7 :<D=5;2f %; >5 C57Z=;J0 DC6 <5F9D 96W6<D6Z DC6 ^5169;E6;Dd> :9JFE6;D eDC:D DC6 B9=B69@ :;Z J9:DF=D@ >D:DFD6 >C5F7Z B6 <5;>D9F6Z B95:Z7@0 D5 6;<5EM:>> 6>>6;D=:77@ :;@ :<D=5; [C=<C =EM7=<:D6> DC6 ZFD=6> :;Z M5[69> 5X : MFB7=< 5XX=<=:72f >(, :D IUKK2 &C6 E6:;=;J 5X e5XX=<=:7 e5XX=<=:7 :<Df Z=Z ;5D >FB>FE6 e5XX=<=:7>d e5XX=<=:7>d E55;7=JCD=;J0 59 DC6=9
E=>F>6 5X J5169;E6;D 96>5F9<6>0 59 DC6 D[5 =; <5EB=;:D=5;fo 9:DC690 DC6 ^5169;E6;D EF>D M9516 DC:D DC6 Z6X6;Z:;D 6c69D6Z e=;:MM95M9=:D6 =;X7F6;<6 5; Z6<=>=5;> DC:D DC6 J5169;E6;D :<DF:77@ E:i6>2f >(, :D IUK`TKHo 1## )$1/B #,8,0 ?':*#( @*)*#1 A, 70'*):'0 VIL ,2KZ SV`0 SVRTVQ O(2/2 /=92 ISRSP O1:<:D=;J <5;1=<D=5;> :;Z 6cM7:=;=;J ejDk5 DC6 6cD6;D DC:D jZ6X6;Z:;Dd>k F>6 5X C=> 5XX=<=:7 M5>=D=5; D5 M95E5D6 : MF967@ M9=1:D6 16;DF96 <96:D6Z :; :MM6:9:;<6 5X 5 X =EM95M9=6D@0 C=> <5;ZF<D =>
T IK T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (+ /8 1+
!"#$% '$()*+,-4 ". /01
96M96C6;>=B760 BFD =D => ;5D <9=E=;:72fPo ?':*#( @*)*#1 A, 2:'8 0 RLV ,2UZ `VL0 `RL O(2/2 /=92 KLIUP O6cM7:=;=;J DC6 <9F<=:7 Z=XX696;<6 B6D[66; eE:i=;J : MF967@ =;X59E:D=5;:7 =;bF=9@f :;Z :<D=;J =; 5;6d> e5XX=<=:7 <:M:<=D@ D5 =;X7F6;<6f : J5169;E6;D:7 Z6<=>=5;P2 &C6 <5;D9:>D B6D[66; DC6 (2/2 /=9<F=Dd> 9F76 :;Z DC6 9F76 :MM7=6Z B675[ => 1=1=Z7@ =77F>D9:D6Z B@ <5EM:9=;J DC6 WF9@ =;>D9F<D=5;> C696 D5 DC6 =;>D9F<D=5;> 8FZJ6 '776; ?F16776 J:16 =; 2:'8, &C6960 8FZJ6 ?F16776 =;>D9F<D6ZN e)D:;Z=;J :75;60 M951=Z=;J J=XD> 5X E6:7> :;Z D=<i6D> D5
MFB7=< 5XX=<=:7> :96 ;5D <9=E6>0 616; =X DC6@ :96 M951=Z6Z B@ >5E65;6 >66i=;J D5 <F99@ X:159 59 =;X7F6;<6 [=DC DC5>6 5XX=<=:7>2f 5XX=<=:7>2f &9=:7 &92 (:@ IK0 ?':*#( @*)*#1 A, 2:'8 0 $52 /. LQTKR` O(2(2/2 $512 U0 KLILP0 (iD2 KRL0 :D UVNQTUSNKI0 'c2 '2 )C6 :7>5 =;>D9F<D6Z DC:D ejDkC6 X:<D DC:D J=XD> 59 C5>M=D:7=D@ E=JCD E:i6 : MFB7=< 5XX=<=:7 [=77=;J D5 D:i6 : 75BB@=>Dd> MC5;6 <:77 59 E=JCD M951=Z6 DC6 75BB@=>D J96:D69 :<<6>> D5 DC6 5XX=<=:7d> :MM5=;DE6;D ><C6ZF76 => ;5D 6;5FJC B@ =D>67X D5 Z6E5;>D9:D6 DC6 75BB@=>Dd> =;D6;D D5 2 2 2 Z6M9=16 DC6 MFB7=< 5X DC6 J5169;E6;D 5XX=<=:7d> C5;6>D >691=<6>0f :(,0 :;Z DC:D DC6 e>=c D69E>0 bF6>D=5;0 E:DD690 <:F>60 >F=D0 M95<66Z=;J0 59 <5;D95169>@0 96X69 D5 : <7:>> 5X bF6>D=5;> 59 E:DD69> [C5>6 :;>[69 59 Z=>M5>=D=5; => Z6D69E=;6Z B@ DC6 ^5169;E6;D2f >(, *;Z E5>D =EM59D:;D7@N e-696 X:159=D=>E0 X:159=D=>E0 :> 61=Z6;<6Z B@ : MFB7=< 5XX=<=:7d> [=77=;J;6>> D5 D:i6 : 75BB@=>Dd> D676MC5;6 <:77 59 D5 E66D [=DC : 75BB@=>D => ;5D :; 5XX=<=:7 :<D2f >(, ?6960 DC6 Z=>D9=<D <5F9D 96XF>6Z D5 =;>D9F<D 5; DC6>6 7=E=D>0 616; DC5FJC DC6@ [696 <6;D9:7 D5
DC6 Z6X6;>60 :;Z 616; DC5FJC DC6 Z=>D9=<D <5F9Dd> M5>DTD9=:7 5M=;=5;> DC6E>6716> 6;Z59>6Z :;Z 967=6Z 5; E:;@ 5X DC6E2 40
(')*"+ -*.*"% /0 !"##"$%&'0 &C6 Z=>D9=<D <5F9D C:> ;6169 :ZZ96>>6Z DC6 X596J5=;J
Z6<=>=5;>2 %;>D6:Z0 =D 967=6Z 967=6Z 5; ?':*#( @*)*#1 A, F#&)/' 0 VR` ,2UZ UUK O`DC /=92 KLIKP2 @## $6[ &9=:7 +M20 (iD2 HVR0 :D STII2 F#&)/'B C5[61690 => B5DC X:<DF:77@ :;Z 76J:77@ Z=>D=;JF=>C:B762 S
S
%X =D [696 ;5D0 F#&)/' [5F7Z <5;X7=<D [=DC 2)55:** 0 ?43:0/$:0 :;Z DC6 5DC69 <:>6>
T IU T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& () /8 1+
!"#$% '$()*+,-/ ". /01
+; DC6 X:<D>0 /5;J96>>E:; 86XX69>5; 6;J:J6Z =; e5XX=<=:7 :<D>f 616; F;Z69 -92 -<(5;;677d> Z6X=;=D=5;2 /5;J96>>E:; 86XX69>5; 86XX69>5; M7:=;7@ F>6Z C=> >D:DF> :> : /5;J96>>E:; [=DC e5169>=JCD :FDC59=D@f 5169 Z5E6>D=< J5169;E6;D :J6;<=6> :;Z X596=J; :=Z :> : D557 e=; >FMM59D 5X C=> :Z15<:<@f D50 :E5;J 5DC69 DC=;J>0 OIP M96>>F96 'cM59DT%EM59D 3:;i 5XX=<=:7> D5 :[:9Z X=;:;<=;J D5 DC6 B9=B6TM:@59o OKP M69>F:Z6 DC6 #2)2 *9E@ D5 :[:9Z E=7=D:9@ <5;D9:<D> D5 DC6 B9=B6T M:@59o :;Z OUP M96>>F96 $=J69=:; J5169;E6;D 5XX=<=:7> D5 :[:9Z J5169;E6;D <5;D9:<D> D5 DC6 B9=B6TM:@592 &:i60 X59 6c:EM760 C=> 6XX59D> 5; e*X9=<:; D9:Z6 =>>F6>2f *E5;J 5DC69 DC=;J>0 ej=k; 96DF9; jX59 M:@E6;D>k0 86XX69>5; >6;D 76DD69> 5; 5XX=<=:7 76DD69C6:Z0 <5;ZF<D6Z 5XX=<=:7 D9:167 D5 ^C:;:0 :;Z E6D ^C:;:=:; J5169;E6;D 5XX=<=:7> D5 M95E5D6 DC6 =;D696>D> 5Xf DC6 B9=B6TM:@590 VR` ,2UZ :D U`Ko C6 :DD6;Z6Z E66D=;J> =; [C=<C C6 eF9J6Z $=J69=:d> >FMM59D X59 jDC6 B9=B6TM:@59d>k 16;DF960 :(, :D U`Uo :;Z C6 e:>>F96Z jDC6 B9=B6TM:@59k DC:D C6 <5F7Z >6<F96 DC6 ;6<6>>:9@ <55M69:D=5; 5X DC6 $=J69=:; J5169;E6;D0f :(, :D U``2 &C=> 7=>D 7=>D J56> 5;2 @##B #,8,0 :(, :D U`ITHI2 F#&)/' DCF> [:> : D6cDB55i <:>6 5X : 76J=>7:D59 e=;15ij=;J C=>k MF9M59D6Z 5169>=JCD :FDC59=D@
j:;Zk DC96:D6;j=;Jk D5 F>6 5XX=<=:7 M5[69> =; >FMM59D 5X C=> :Z15<:<@2f ?43:0/$:0 HIU ,2UZ :D KSV2 *;Z 5; DC6 7:[0 DC6>6 X:<DF:7 Z=XX696;<6> F;Z69><596 C5[ F#&)/' 96>5716Z :; 6;D=967@ Z=XX696;D 76J:7 =>>F6 =>>F6 DC:; DC6 5;6> -92 -92 -<(5;;677 [=77 9:=>62 *> DC=> /5F9D 6cM7:=;6Z DC6960 -92 86XX69>5; [:> E:i=;J DC6 eB95:Z :>>69D=5; DC:D @0'+%:)=/'( >FM69>6Z6> L:4(1)$$ f :;Z0 DC696X5960 DC:D e5XX=<=:7 :<D>f [696 7=E=D6Z 5;7@ D5 X59E:7 76J=>7:D=16 ZFD=6>2 F#&)/'0 VR` ,2UZ :D UHV2 ?6960 B@ <5;D9:>D0 -92 -<(5;;677 C:> ;6169 bF6>D=5;6Z DC6 1=D:7=D@ 1=D:7=D@ 5X L:4(1)$$ 590 590 E596 >M6<=X=<:77@0 DC:D >6DD76Z M9:<D=<6> 3)' 5# e5XX=<=:7 :<D>f =X DC6@ 5DC69[=>6 =;15716 e=;15ij=;Jk q MF9M59D6Z 5169>=JCD :FDC59=D@ 59 DC96:D6;j=;Jk D5 F>6 5XX=<=:7 M5[69> =; >FMM59D 5X q :Z15<:<@0f :Z15<:< @0f O<5;D=;F6ZqP
Z=><F>>6Z :B516g: J95F;Z X59 6; =D>67X B:;< 9:=>6 :;Z )FM96E6 /5F9D 961=6[0 1## ,6Z2 .2 *MM2 _2 UHOBPOIPO3Po )FM2 D9:Z=D=5;:7 /D2 .2 ILO:P0 DC:D [5F7Z : >FB>D:;D=:7 bF6>D=5;2
T I` T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (: /8 1+
!"#$% '$()*+,-5 ". /01
?43:0/$:0 HIU ,2UZ :D KSV2 %;>D6:Z0 -92 -92 -<(5;;677 <C:776;J6> 5;7@ [C6DC69 C=> :<D=5;> >:D=>X@
DC6 >D:DFD59@ Z6X=;=D=5; 5X e5XX=<=:7 :<D=5;fg :,#, :,#,0 [C6DC69 DC6@ :96 eZ6<=>=5;>f 59 e:<D=5;>f 5; :;@ M6;Z=;J eE:DD692f O;)* =>>F6 =>>F6 X=;Z> >FMM59D =; DC6 5FDT5XT<=9<F=D <:>6> -92 -<(5;;677 C:> <=D6Z0 [:> ;5D :ZZ96>>6Z =; F#&)/'0 :;Z [=77 DCF> M96>6;D : >FB>D:;D=:7 bF6>D=5; 5X 7:[2 80
7D 7HM 7< +JB<M # U-JSHD?<DF?@ ,J>HDF/<V TE>DE>B +E> K>BGFID T?H -/J<G0
(6<=>=5;> 5X DC6 )FM96E6 /5F9D0 DC966 5DC69 <=9<F=D> O[C=<C DC6 Z=>D9=<D <5F9D ;6169 :ZZ96>>6ZP0 :;Z DC=> /5F9D DCF> :77 >FMM59D -92 -<(5;;677d> F;Z69>D:;Z=;J 5X DC6 7:[2 *;Z =X DC:D F;Z69>D:;Z=;J => <5996<D0 :; :<bF=DD:7 59 ;6[ D9=:7 => ;6<6>>:9@2 &C6 ^5169;E6;D Z=Z ;5D M95160 :;Z DC6 WF9@ =;>D9F<D=5;> Z=Z ;5D 96bF=96 X=;Z=;J0 DC:D =; DC6 eX=16 >M6<=X=< :<D=5;> D:i6; B@ -<(5;;6770f (2 /D2 $6[ &9=:7 +M2 :D V0 C6 e=;15i6Z :;@ MF9M59D6Z 5169>=JCD :FDC59=D@ 59 DC96:D6;6Z D5 F>6 5XX=<=:7 M5[69> =; >FMM59Df 5X -92 A=77=:E>2 ?43:0/$:0 HIU ,2UZ :D KSV2 *D DC6 169@ 76:>D0 B5DC 5X DC6>6 =>>F6> M96>6;D >FB>D:;D=:7 bF6>D=5;> F;Z69 a UI`UOBP2 10
+E>B> 7H # -JSHD?<DF?@ ,J>HDF/< TE>DE>B +E> OJBWPH K>BGFID T?H -J==/BD>G QW +E> )NFG><I> '<G>B +E> :B/=>B $>L?@ -D?<G?BG0
&C6 ^5169;E6;D <:776Z ;5 [=D;6>> [C5 D6>D=X=6Z DC:D -92 -<(5;;677 D9=6Z D5 =;X7F6;<6 C=E 59 C69 D5 E:i6 :;@ Z6<=>=5; 5; DC6 /5EE5;[6:7DCd> B6C:7X0 EF<C 76>> DC:D C6 eDC96:D6;6Z D5 F>6 5XX=<=:7 M5[69> =; >FMM59D 5X C=> :Z15<:<@0f ?43:0/$:0 HIU ,2UZ :D KSV2 %; X:<D0 6169@ 96761:;D [=D;6>> D6>D=X=6Z D5 DC6 <5;D9:9@N
-92 '=J60 DC6 96<=M=6;D 5X DC6 6E:=70 D6>D=X=6Z DC:D -92 -<(5;;677 e;6169 X5775[6Z

B:<i FM [=DC E6 59 ;6169 MF>C6Z B:<i 59 ;6169 Z=96<D6Z E6 D5 :<DF:77@ J5 X59[:9Z :;Z D9@ D5 E:i6 >5E6DC=;J C:MM6; [=DC DC6 F;=169>=D=6>2f &92 l572 l%%0 :D IVVQ2
$5 [=D;6>> D6>D=X=6Z DC:D -92 -<(5;;677 Z=Z :;@DC=;J :D DC6 ?6:7DC<:96 46:Z69>

.6<6MD=5; D5 6;<5F9:J6 :;@5;6gMFB7=< 5XX=<=:7 59 M9=1:D6 MC@>=<=:;gD5 Z5 :;@DC=;J [C:D>56169 [=DC 96>M6<D D5 )D:9 59 *;:D:B75<0 59 DC:D C6 616; E6;D=5;6Z )D:92
&C6 >D:XX69 [C5 DC5FJCD -92 -<(5;;677 :>i6Z C69 D5 E66D [=DC )D:9 D6>D=X=6Z DC:D >C6

Z=Z ;5D DC=;i C6 [:;D6Z C69 D5 Z5 :;@DC=;J B6>=Z6> E66D [=DC -92 A=77=:E> :;Z E:i6 C69 5[; Z6<=>=5; :B5FD [C:D O=X :;@DC=;JP D5 Z52 @## &92 l572 m%0 :D KVQL O->2 ?=<i>T &C5E:>P OetN ^5169;59 -<(5;;677 ;6169 <:E6 B:<i D5 @5F :;Z >:=Z n(=Z @5F E66D
T IH T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (; /8 1+
!"#$% '$()*+,-6 ". /01
[=DC DC6Eu (=Z @5F D:i6 <:96 5X DC:Dud *N $61692fP2
&C6 >D:XX69 [C5 :<DF:77@ Z=Z E66D [=DC -92 A=77=:E> >6;D C=E : eB75[ 5XXf 6E:=7

[=DC=; C5F9> 5X DC6 E66D=;J :;Z C:Z e;5 Z5FBDf DC:D >C6 [:> X966 D5 Z5 M96<=>67@ DC:D2 &92 l572 l%%0 :D IHIRNILTKH O->2 ?FXX>D6D769Po :(, :D IHK`NILTI`2
&C6 F;=169>=D@ 96>6:9<C69> [C5 :DD6;Z6Z DC6 E:;>=5; 7F;<C D6>D=X=6Z DC6@ Z=Z ;5D

DC=;i -92 -<(5;;677 [:;D6Z DC6E D5 Z5 :;@DC=;J =; M:9D=<F7:92 @## &92 l572 l%%%0 :D IRSH O(92 4:h5P Oe% DC=;i DC6 ^5169;59d> M5>=D=5; [:> E596 5X :; =;D6995J:D=16 D@M6 5X : >59D 5X bF6>D=5;=;J 9:DC69 DC:; n%>;dD DC=> J96:Dud 59 n%>;dD =D DC=> :[XF7udfPo &92 l572 l%%0 :D IHQK O(92 /7596P Oej&kC6 J=>D 5X DC6 <5;169>:D=5; [:> DC6 ^5169;59 >M5i6 :D : C=JC 76167 :B5FD C6:7DC :;Z [677;6>> =; l=9J=;=: :;Z DC6 <5EM5F;Z0 % >FMM5>62fP2 &C6 61=Z6;<6 DCF> >C5[6Z 5;7@ DC:D -92 -<(5;;677 [:;D6Z M65M76 D5 E:i6 =;Z6M6;Z6;D WFZJE6;D> :B5FD [C:D D5 Z52 *> -577@ ?FXX>D6D7690 DC6 5;7@ >D:XX69 D5 :<DF:77@ E66D [=DC -92 A=77=:E> ZF9=;J DC6 :776J6Z <5;>M=9:<@0 <5;>M=9:<@0 D6>D=X=6ZN )C6 [:> e6EM5[696Z D5 E:i6 jC69k 5[; Z6<=>=5; :B5FD [C:D D5 Z5 J5=;J X59[:9Z =X :D :77 C696 [=DC -92 A=77=:E>2f &92 l572 l%%0 :D IHIR2 X0
+E>B> 7H #@H/ # U-JSHD?<DF?@ ,J>HDF/<V TE>DE>B +E> OJBW 7<HDBJIDF/<H T>B> :B>ZJGFIF?@@W !N>BSB/?G0
)6M:9:D6 :;Z :M:9D X95E [C6DC69 : WF9@ 3/0$( ;)A# X5F;Z >FXX=<=6;D 61=Z6;<6 D5 <5;1=<D -92 -<(5;;677 F;Z69 DC6 <5996<D 76J:7 >D:;Z:9Z0 DC6 Z=>D9=<D <5F9D X:=76Z D5 96bF=96 *;:1 WF9@ D5 E:i6 :;@ >F<C X=;Z=;J2 &C6 =;>D9F<D=5;> Z6<7=;6Z D5 =;X59E DC6 WF9@ 5X =D> 5B7=J:D=5; D5 X=;Z DC:D -92 -<(5;;677 <95>>6Z DC6 7=;6 Z9:[; =; ?43:0/$:0 2)55:** 0 T)$(#10 6D<2 &C6 Z=>D9=<D <5F9D Z6<7=;6Z D5 =;X59E DC6 WF9@ :B5FD >F<C 7=E=D:D=5;> 616; DC5FJC :* 4#$:#( (:4#3*$< /' *;#= =; =D> M5>DTD9=:7 5M=;=5;>0 :J966=;J [=DC -92 -<(5;;677 DC:D eE696 nj=k;J9:D=:D=5; :;Z :<<6>>d E:@ ;5D :75;6 <96:D6 : bF=Z M95 bF5 :J966E6;D [=DC=; DC6 E6:;=;J 5X DC6 B9=B69@ >D:DFD6>2f $6[ &9=:7 +M20 (iD2 HVR0 :D H2 &C5FJC DC6 Z=>D9=<D <5F9D 96M6:D6Z7@ 6;Z59>6Z DC=> M9=;<=M76 "/1* TD9=:70 TD9=:70 =D C:> ;6169 6cM7:=;6Z [C@ =D 4#I#3*#( -92 -<(5;;677d> M95M5>6Z =;>D9F<D=5; E:i=;J DC6 >:E6 M5=;D (04:'8 DC6 D9=:72 @## -<(5;;677 _95M2 %;>D92 $52 HQ Oej-k696 =;J9:D=:D=5; :;Z :<<6>> :96 ;5D
<599FMD=5;2fP0 (iD2 KQR2 ):E6 X59 DC6 Z=>D9=<D <5F9Dd> <5F9Dd> M5>DTD9=:7 96<5J;=D=5; 96<5J;=D=5; DC:D DC6 ^5169;E6;D ;66Z6Z D5 M9516 DC:D -92 -<(5;;677 e:DD6EMD6Z D5 F>6 C=> JFB69;:D59=:7 M5>=D=5; D5 =;X7F6;<6
T IV T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (< /8 1+
!"#$% '$()*+,-7 ". /01
J5169;E6;D:7 Z6<=>=5;>0f &9=:7 +M20 (iD2 HVR0 :D Ro DC6 <5F9D 96W6<D6Z :; =;>D9F<D=5; <5;16@=;J DC:D M96<=>6 9F762 @## -<(5;;677 _95M2 %;>D92 $52 HQ Oe&C6 bF6>D=5;> @5F EF>D Z6<=Z6 :96 B5DC [C6DC69 DC6 <C:9J6Z <5;ZF<D <5;>D=DFD6> : n>6DD76Z M9:<D=<6d :;Z [C6DC69 DC:D <5;ZF<D [:> =;D6;Z6Z D5 59 Z=Z =; X:<D =;X7F6;<6 : >M6<=X=< 5XX=<=:7 Z6<=>=5; DC6 J5169;E6;D :<DF:77@ E:i6>2fP2 &C6 Z=>D9=<D <5F9D 616; Z6<7=;6Z D5 D677 DC6 WF9@ DC:D eDC6 X:<D DC:D :; :<D=1=D@ => : 95FD=;6 :<D=1=D@0 59 : n>6DD76Z M9:<D=<60d 5X :; 5XX=<6TC57Z69 Z56> ;5D :75;6 E:i6 =D :; n5XX=<=:7 :<D0df :(, g:; g:; 5E=>>=5; DC6 ^5169;E6;D :JJ96>>=167@ 6cM75=D6Z0 1## 10"4) HTVgDC:D <5;X7=<D> [=DC F#&)/'d> C57Z=;J DC:D eDC6 WF9@ <5F7Z ;5D 967@ 6c<7F>=167@ 5; j k >6DD76Z M9:<D=<6>2f VR` ,2UZ :D UHR2 IL &C=> =;>D9F<D=5;:7 69959 [6;D D5 DC6 C6:9D 5X -92 -<(5;;677d> -<(5;;677d> Z6X6;>62 -92 -<(5;;677 ;6169 Z=>MFD6Z DC:D C=> :<D=5;> [696 >6DD76Z M9:<D=<6>0 >=;<6 96X699=;J M65M76 X59 E66D=;J>0 :>i=;J :=Z6> bF6>D=5;>0 :;Z :DD6;Z=;J 616;D> :96 DC=;J> J5169;59> 96X76c=167@ Z5 CF;Z96Z> 5X D=E6> : [66i2 ?=> <6;D9:7 :9JFE6;D0 9:DC690 [:> DC:D C=> :<D=5;> [696 ;5D e5XX=<=:7f B6<:F>6 ;5;6 >5FJCD D5 =;:MM95M9=:D67@ =;X7F6;<6 :;@ J5169;E6;D:7 J5169;E6;D:7 Z6<=>=5;2 &C6 ^5169;E6;D <:M=D:7=h6Z <:M=D:7=h6Z XF77@ 5; DC6 =;>D9F<D=5;:7 69959 D5 <=9<FE16;D DC=> Z6X6;>6g:9JF=;J D5 DC6 WF9@ DC:D =D ;66Z '/* X=;Z X=;Z :;@ 6XX59D D5 =;X7F6;<6 :;@ J5169;E6;D:7 Z6<=>=5;2 @## &92 l572 mml0 :D VL`K OejGk5F 755i X59 DC6 [59Z M96>>F962 %D Z56>;dD :MM6:9 :;@[C6962fP2 %D :9JF6Z DC:D DC:D -92 -<(5;;677 -<(5;;677 eZ=Z;dD C:16 D5 >:@ : >=;J76 DC=;Jf :D DC6 -:;>=5; 616;D B6<:F>6 C=> E696 M96>6;<6 <5;X6996Z e<96Z=B=7=D@f 5; )D:92 >(, :D HQ`UT``0 HQ`H2 )=E=7:97@0 DC6 ^5169;E6;D :9JF6Z =D [:> =996761:;D DC:D ;5 96bF6>D X59
:<D=5; X5775[6Z X95E -92 -<(5;;677d> -<(5;;677d> >FJJ6>D6Z E66D=;J2 ej(6X6;>6 <5F;>67k >:=Z DC:D ;5DC=;J <:E6 5FD 5X =D2 =D2 3FD0 7:Z=6> :;Z J6;D76E6;0 DC:Dd> ;5D DC6 M5=;D2 &C6 ^5169;59 5X l=9J=;=: => 2 2 2 IL
&C6 Z=>D9=<D <5F9D 96=D69:D6Z =D> :J966E6;D [=DC DC6>6 76J:7 M9=;<=M76> =; =D> 96<6;D +9Z69 Z6;@=;J B5;Z2 &C:D +9Z69 96M6:D> DC:D e-92 e-92 -<(5;;677 :DD6EMD6Z D5 F>6 C=> JFB69;:D59= JFB69;:D59=:7 :7 5XX=<6 D5 =;X7F6;<6 J5169;E6;D:7 Z6<=>=5;> =; X:159 5X )D:9 )<=6;D=X=<f :;Z :>>69D> DC:D e-92 -<(5;;677 :>>F96Z7@ Z=Z E596 DC:; M951=Z6 E696 :<<6>> :<<6>> D5 A=77=:E>2f 'c2 * :D K2 -92 -<(5;;677 Z=>:J966> [=DC DC6>6 <5;<7F>=5;>0 5X <5F9>60 BFD 5;<6 :J:=; DC6 Z=>D9=<D <5F9D Z=Z ;5D 616; :DD6EMD D5 6cM7:=; [C@=;>D9F<D=5;>2 =D Z6<7=;6Z D5 <5EEF;=<:D6 DC6>6 <9=D=<:7 7=E=D:D=5;> 5; e5XX=<=:7 :<D=5;f D5 DC6 WF9@ =; =D> WF9@
T IR T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& (- /8 1+
!"#$% '$()*+,-0 ". /01
>:@=;J0 nG5F >C5F7Z E66D [=DC DC6E2df >(, :D VL`KNVTII2 &C6 ^5169;E6;D :9JF6Z :9JF6Z =D [:> 6;5FJC DC:D e-92 -<(5;;677d> =;15716E6;D [=DC 6169@ >=;J76 5;6 5X DC6>6 DC=;J> [:> =; C=> 5XX=<=:7 <:M:<=D@ :> ^5169;592f >(, :D HQRLNKTU2 %D :9JF6Z DC:D 616; DC6 6E:=7 D5 -92 '=J6 <5F;D6Z :> :; e5XX=<=:7 :<Df B6<:F>6N e?6d> 6E:=7=;J2 ?6d> Z5=;J >5E6DC=;J2f >5E6DC=;J2f >(, :D VL`INQ2 $5D 5;7@ DC:D0 BFD DC6 Z=>D9=<D <5F9D J:16 :; F;[=67Z@ =;>D9F<D=5; DC:D ;5 5DC69 <5F9D C:> J=16;0 [C=<C =EM95M697@ 6cM:;Z6Z :;Z E5Z=X=6Z DC6 DC6 e>6DD76Z M9:<D=<6f =;>D9F<D=5;2 &C6 <5F9D =;>D9F<D6Z DC:D e5XX=<=:7 :<D=5;> E:@ =;<7FZ6 :<D> DC:D : MFB7=< 5XX=<=:7 <F>D5E:9=7@ M69X59E>0 616; =X DC5>6 :<D=5;> :96 ;5D Z6><9=B6Z =; :;@ 7:[0 9F760 59 W5B Z6><9=MD=5;0f DC:D e: MFB7=< 5XX=<=:7 ;66Z ;5D C:16 :<DF:7 59 X=;:7 :FDC59=D@ 5169 DC6 6;Z 96>F7D >5FJCD B@ : B9=B6 M:@59 >5 75;J :> DC6 :776J6Z B9=B6 M:@59 96:>5;:B7@ B67=616> DC:D DC6 MFB7=< 5XX=<=:7 C:Z =;X7F6;<60 M5[69 59 :FDC59=D@ 5169 : E6:;> D5 DC6 6;Z0f :;Z e5XX=<=:7 :<D=5; <:; =;<7FZ6 :<D=5;> D:i6; =; XF9DC69:;<6 5X 75;J69T D69E J5:7>0 :;Z :; 5XX=<=:7 :<D=5; => ;5 76>> 5XX=<=:7 B6<:F>6 =D => 5;6 =; : >69=6> 5X >D6M> D5 6c69<=>6 =;X7F6;<6 59 :<C=616 :; 6;Z2f &92 l572 mml%0 :D VILU2 &C6>6 =;>D9F<D=5;> DCF> =;1=D6Z DC6 WF9@ D5 <5;<7FZ6 DC:D :;@ <F>D5E:9@ :<D=5;0 :;@ :<D e=; : >69=6> 5X >D6M> D5 6c69<=>6 =;X7F6;<6 /4 :<C=616 :<C=616 :; 6;Z0f 59 616; :;@ :<D DC:D -92 A=77=:E> <7:=E6Z C6 e96:>5;:B7@ B67=616jZkf [:> :
eE6:;>f D5 >5E6 F;>M6<=X=6Z e6;Zf O[C:D6169 DC:D E6:;>P [:> :FD5E:D=<:77@ :; e5XX=<=:7 :<D2f *D DC6 169@ 76:>D0 C5[61690 [C6DC69 DC6 B95:Z e5XX=<=:7 :<Df =;>D9F<D=5;gF;:<<5EM:;=6Z B@ )'< 7=E=D:D=5;> 96E5D67@ :i=; D5 2:'8 59 DC6 M9=;<=M76> =; ?43:0/$:0 2)55:** 0 :;Z T)$(#1 g[:> >FB>D:;D=:7 69959 => M7:=;7@ : >FB>D:;D=:7 bF6>D=5; 5X 7:[2 II &C6 =;>D9F<D=5;> DCF> M96>6;D : >6<5;Z >FB>D:;D=:7
II
&C6 ^5169;E6;D C:> :9JF6Z DC:D DC6 =;>D9F<D=5; C696 => DC6 >:E6 :> =; F#&)/'2 ,:7>6N F#&)/' ;6169 :MM9516Z :;@DC=;J 7=i6 DC6>6 6cM:;>=5;>2 @## VR` ,2UZ :D UHR ObF5D=;J DC6 M69D=;6;D =;>D9F<D=5;P2 3FD 96J:9Z76>>0 =D => B7:<i 76DD69 7:[ DC:D ejWkF9@ =;>D9F<D=5;> >C5F7Z B6 Z9:[; [=DC 96X696;<6 D5 DC6 M:9D=<F7:9 X:<D> 5X DC6 <:>6 5; D9=:70f ?':*#( @*)*#1 A, D/$$#<0 HLK ,2KZ KRU0 KRV O`DC /=92 ISR`P0 B6<:F>6 ej:kB>D9:<D M95M5>=D=5;> 5X 7:[ >D:D6Z D5 DC6 WF9@ [=DC5FD 96J:9Z D5 DC6 X:<DF:7 <=9<FE>D:;<6> :96 M5D6;D=:77@ <5;XF>=;J2f %0C# A, ?':4/<)$B >'3, 0 SKQ ,2KZ I`IU0 I`KI O`DC /=92 ISSIP2 ISSIP2 *MM677:D6 <5F9D> DCF> 95FD=;67@ 96169>6 D9=:7 D9=:7 <5F9D> XX59 59 967@=;J 5; =;>D9F<D=5;> DC:D DC6 <5F9D 5X :MM6:7> C:> M961=5F>7@ :MM9516Z =; <:>6> [=DC Z=XX696;D X:<D>2 @##B
T IQ T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 1, /8 1+
!"#$% '$()*+,28 ". /01
76J:7 bF6>D=5; [C=<C0 =X Z6<=Z6Z =; -92 -<(5;;677d> X:1590 [:99:;D> : ;6[ D9=:7 5; :77 <5F;D>2 770
+E>B> 7H # U-JSHD?<DF?@ ,J>HDF/<V TE>DE>B +EFH 8/JBDPH K/FB .FB> !A +E> OJBW !< :B>DBF?@ :JS@FIFDW T?H #G>[J?D>0
&9=:7 <5F9D> :BF>6 DC6=9 Z=><96D=5; =; <5;ZF<D=;J 15=9 Z=96 5; M96D9=:7 MFB7=<=D@ =X OIP DC6 eM96D9=:7 MFB7=<=D@ :B5FD DC6 <:>6 9:=>6Z : >=J;=X=<:;D M5>>=B=7=D@ 5X M96WFZ=<6f :;Z OKP eDC6 Z=>D9=<D <5F9Dd> 15=9 Z=96 M95<6ZF96 X:=76Z D5 M951=Z6 : 96:>5;:B76 :>>F9:;<6 DC:D M96WFZ=<6 [5F7Z B6 Z=><51696Z =X M96>6;D2f ?':*#( @*)*#1 A, Q4)** 0 RKQ ,2UZ `VU0 `RL OHDC /=92 KLIUP2 ?6960 =D => F;Z=>MFD6Z DC:D DC696 [:> : J96:D Z6:7 5X ;6J:D=16 MFB7=<=D@ ZF9=;J DC6 9F;TFM D5 -92 -<(5;;677d> D9=:72 @## -6E2 =; )FMM2 -5D2 l5=9 (=96 .67=6X0 :D MM2 KTIK0 (iD2 IIL OJ:DC69=;J 6c:EM76>P2 35DC >=Z6> DCF> >FJJ6>D6Z =;Z=1=ZF:7=h6Z 15=9 Z=96 X59 WF959> [C5 :ZE=DD6Z 6cM5>F96 D5 MFB7=<=D@0 D5 6;>F96 Z=><5169@ 5X M96WFZ=<62 IK &C6 Z=>D9=<D Z=>D9=<D <5F9D Z6<7=;6Z2 &92 l572 %0 :D IUS2 %;>D6:Z0 DC6 Z=>D9=<D <5F9D 7=E=D6Z =D> =D> 15=9 Z=96 5; M96D9= M96D9=:7 :7 MFB7=<=D@ D5 D[5 bF6>D=5;>2 *XD69 :<i;5[76ZJ=;J DC:D DC6 e<:>6 C:> J6;69:D6Z : 75D 5X E6Z=: =;D696>Df DC6 <5F9D :>i6Z DC6 955E XF77 5X M95>M6<D=16 WF959> D5 >D:;Z FM e=X @5F C:16 96:Z0 C6:9Z 59 >66; >5E6DC=;J =; DC6 E6Z=:2f >(, :D I`L2 *7E5>D 6169@5;6 >D55Z2 &C6 Z=>D9=<D Z=>D9=<D <5F9D DC6; >:=ZN e3:>6Z 5; [C:D @5F @5F C:16 C6:9Z 59 96:Z 59 >66; 967:D=;J D5 DC=> <:>60 =X @5F :960 =; @5F9 E=;Z0 :B76 D5 MFD :>=Z6 [C:D6169 =D => DC:D @5Fd16 C6:9Z0 7=>D6; D5 DC6 61=Z6;<6 =; DC=> <:>6 :;Z B6 X:=9 D5 B5DC >=Z6>0 DC6; % [:;D @5F D5 >=D Z5[;2f >(, : :DD I`I2 '169@5;6 >:D2 @## :(, &C6 <5F9D DC6; >D:D6Z DC:D =D [:> e>:D=>X=6Z [=DC 2 2 2 DC6 96>M5;>6>0f :(, :D I`I0 :;Z 96W6<D6Z 96M6:D6Z 96bF6>D> X59 =;Z=1=ZF:7=h6Z =;bF=9@0 1## :(, :D IUS O<5;D=;F6ZqP
#,8,0 ?':*#( @*)*#1 A, 2#8)'0 SUR ,2KZ QKU0 QKQ OKZ /=92 ISSIP Oej*k <C:9J6 DC:D => :Z6bF:D6 :;Z M95M69 =; 5;6 <:>6 E:@ ;5D M7:@ DC6 >:E6 9576 =; :;5DC69 <:>6 =;1571=;J : Z=XX696;D Z =XX696;D >6D 5X X:<D>2fPo ?':*#( @*)*#1 A, R0'8 6/'8 .;#' 0 USU ,2UZ IUS OKZ /=92 KLL`P O=;>D9F<D=5;> 96J:9Z=;J =;D6;D =; B:;i XF;Z> <:>6 ;5D ;5 D :MM95M9=:D6 X59 <:>6> =;1571=;J E596 <5EM76c D9:;>:<D=5;>P2 *;Z DC=> <:>6 M96>6;D> >D:9i7@ Z=XX696;D X:<D> )'( 76J:7 76J:7 :9JFE6;D> DC:; F#&)/', IK
@## l57 %0 :D IUR E=JCD B6 :Z1=>:B76 X59 F> D5 Z5OZ6X6;>6P2 >5E6 7=E=D6Z =;bF=9@ 59 B9=;J DC6E FM &92 59 >5E6DC=;J 2 2 2 2fPOej%kD O^5169;E6;DPo :(, :D IUQTUS O>:E6P
T IS T
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 1( /8 1+
!"#$% '$()*+,2- ". /01
Oej%kX >5E6B5Z@ => 6cM5>6Z D5 M96D9=:7 MFB7=<=D@0 DC6@ C:16 D5 B6 =;Z=1=ZF:77@ 15=9 Z=96Z2fP2 IU %D => : >FB>D:;D=:7 bF6>D=5; [C6DC69 DC:D [:> 6;5FJC2
&C=> /5F9D C:> 6;Z59>6Z DC6
X5775[=;J M95<6ZF96N enj&kC6 <5F9D EF>D :><69D:=; =X :;@ WF959> [C5 C:Z B66; 6cM5>6Z D5 >F<C MFB7=<=D@ C:Z 96:Z 59 C6:9Z DC6 >:E62 )F<C WF959> [C5 96>M5;Z :XX=9E:D=167@ EF>D DC6; B6 6c:E=;6Z0 =;Z=1=ZF:77@ :;Z 5FD>=Z6 DC6 M96>6;<6 5X DC6 5DC69 WF959>0 D5 Z6D69E=;6 DC6 6XX6<D 5X DC6 MFB7=<=D@2df ?':*#( @*)*#1 A, D)'C:1;0 HLK ,2KZ RI0 RR O`DC O`DC /=92 ISR`P2 &C:D => [C@0 =; ?':*#( @*)*#1 A, L)CC#4 0 SKH ,2KZ RKQ0 RUUTU` O`DC /=92 ISSIP0 DC6 D9=:7 <5F9D ebF6>D=5;6Z M5D6;D=:7
WF959> :B5FD 6cM5>F96 D5 M96TD9=:7 MFB7=<=D@ =;<7FZ=;J >M6<=X=< E6Z=: 96M59D>0 :B5FD 6cM5>F96 D5 DC6 5M=;=5;> 5X 5DC69>0 :B5FD DC6 WF959d> M69>5;:7 5M=;=5;> :B5FD DC6 <:>60 :;Z :B5FD [C6DC69 E6Z=: :DD6;D=5; ZF9=;J DC6 D9=:7 [5F7Z =;X7F6;<6 : WF959d> Z6<=>=5;>f :;Z DC=> /5F9D C67Z DC:D >F<C e<:96XF7f 15=9 Z=96 [:> eM95M692f /5F9D> C:16 DCF> >6D :>=Z6 <5;1=<D= <5;1=<D=5;> 5;> [C696 D9=:7 WFZJ6> 967=6Z e>5767@ 5; : WF959d> :>>69D=5; 5X =EM:9D=:7=D@2f Q4)** 0 RKQ ,2UZ :D `RL2 )C5F7Z DC=> /5F9D :J966 [=DC -92 -<(5;;6770 C6 [=77 B6 6;D=D76Z D5 : ;6[ D9=:72 @##B #,8,0 ?':*#( @*)*#1 A, L#3C'#4 0 VS ,2UZ IKLS0 IKSUTS` OHDC /=92 ISSHPo @C:$$:'8 0 HVI #2)2 :D `UQ O)5D5E:@590 820 Z=>>6;D=;JP Oe&C6 E:W59=D@ j k 6;1=>=5;> : X=c6Z M5=;D :D [C=<C MFB7=< M:>>=5;> B6<5E6 >5 =;D6;>6 DC:D M96WFZ=<6 D5 : Z6X6;Z:;Dr> X:=9TD9=:7 9=JCD> 9=JCD> EF>D B6 M96>FE6Z2fP2 M96>FE6Z2fP2 &C=> =>>F6 DCF> M951=Z6> M951=Z6> :;5DC69 B:>=> X59 B5;Z2 8!*8$'-7!*
-92 -<(5;;677 96>M6<DXF77@ 96bF6>D> DC:D DC6 /5F9D J9:;D C=E B5;Z M6;Z=;J :MM6:72 IU
&C6 X=;:7 WF9@ bF6>D=5;;:=960 X95E [C=<C DC6 <5F9D 6c<7FZ6Z E:;@ 5X DC6 96bF6>D6Z bF6>D=5;>0 Z=Z ;5D <F96 DC=> M95B76E B6<:F>6 DC6 <5F9D Z6<7=;6Z D5 :>i M95>M6<D=16 WF959> [C6DC69 DC6=9 6cM5>F96 D5 M96D9=:7 MFB7=<=D@ C:Z <:F>6Z DC6E D5 X59E :; 5M=;=5; :B5FD JF=7D 59 =;;5<6;<62 @##B #,8,B 'c2 / D5 $6[ &9=:7 -6E20 (iD2 H`Q0 :D UI2 %;>D6:Z0 =D >=EM7@ >=EM7@ :>i6Z [C6DC69 DC6@ C:Z e6cM96>>6Zf :; 5M=;=5; D5 : DC=9Z M:9D@2 'c2 3 D5 $6[ &9=:7 -6E20 (iD2 H`Q0 :D KU2 &C6 bF6>D=5;;:=96 DCF> Z=Z ;5D =Z6;D=X@ DC5>6 M95>M6<D=16 WF959> [C5 i6MD DC6=9 5M=;=5;> D5 DC6E>6716>2 (6X6;>6 <5F;>67 :<<59Z=;J7@ :<<59Z=;J7@ 5BW6<D6Z DC:D DC6 <5F9D C:Z ;5 B:>=> X59 Z6D69E=;=;J [C=<C WF959> [696 B=:>6Z B@ M96TD9=:7 MFB7=<=D@ >:16 DC5>6 [C5 C:Z 6cM96>>6Z DC6=9 B=:> D5 DC=9Z M:9D=6>2 @## &92 l572 %0 :D IUS0 I`I Oe% <:;dD E:i6 :;@ WFZJE6;D> 59 :9JFE6;D> D5 @5F [=DC5FD :;@ XF9DC69 =;bF=9@2fP2 &CF>0FM5; ;5B5Z@ 6169 WF959>2f :>i6Z :B5FD eDC6 =EM:<Df DC:D eB5DC M:>D :;Z XFDF96 E6Z=: :DD6;D=5; [5F7Z C:16 M5D6;D=:7 L)CC#4 0 SKH ,2KZ :D RUU2
T KL T
!""#$%& ()*+,(-
./0& 1*(
(:D6ZN 8:;F:9@ I`0 KLIH
23%#4& ,(5(+51,()
67& 11 /8 1+
!"#$% '$()*+,22 ". /01
.6>M6<DXF77@ >FBE=DD6Z0
s>s $567 82 ,9:;<=><5 ?6;9@ A2 *>B=77 $567 82 ,9:;<=><5 /C:975DD6 ?2 &:@759 8:E6> -2 3F9;C:E 8+$') (*G HI 45F=>=:;: *16;F60 $2A2 A:>C=;JD5;0 (2/2 KLLLI &676MC5;6N OKLKP QRSTUSUS ,:<>=E=76N OKLKP VKVTIRLL 85C; 42 395[;766 Ol)3 $52 URUHQP ?+44*$( \ ]$%^?& 44_ QLL IRDC )D966D0 $2A2 )F=D6 IILL A:>C=;JD5;0 (2/2 KLLLV &676MC5;6N OKLKP QKQTIQH` ,:<>=E=76N OKLKP SHHTHHV` ./0'1#$ &/4 2/5#4* 6, 73%/''#$$
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 19 /8 1+
!"#$% '$()*+,23 ". /01
-+#+)()*+ ")&#".7*& !"#$ #"&'()*+
-92 -<(5;;677 96>M6<DXF77@ 96>M6<DXF77@ 96bF6>D> 59:7 :9JFE6;D2 *775[=;J <5F;>67 D5 M96>6;D 59:7 :9JFE6;D [5F7Z M69E=D DC6 /5F9D D5 =;bF=96 :B5FD [C:D6169 =>>F6> =; DC=> <:>6d> 157FE=;5F> 96<59Z =D E:@ Z66E <9=D=<:7 D5 Z6<=Z=;J DC=> E5D=5;2 ^=16; DC6 1=D:7 =EM59D:;<6 5X DC=> =>>F6 =>>F6 D5 M95D6<D=;J -92 -<(5;;677d> 76J:7 9=JCD D5 :; 6XX6<D=16 :MM6:70 :MM6 :70 =; 7=JCD 5X 5 X C=> D[6;D@TX5F9TE5;DC >6;D6;<60 C6 96>M6<DXF77@ >FBE=D> DC:D 59:7 :9JFE6;D [5F7Z [5F 7Z B6 :MM95M9=:D62 -92 -<(5;;677 :;Z C=> <5F;>67 ;5D6 DC:D DC6 /5F9D C:> :; FM<5E=;J :9JFE6;D <:76;Z:9 5; 8:;F:9@ KRTKS2 -92 -<(5;;677d> <5F;>67 <:; B6 :1:=7:B76 D5 M96>6;D :9JFE6;D 5; :;@ Z:@ :D :;@ D=E6 ZF9=;J DC:D <:76;Z:90 :D DC6 /5F9Dd> <5;16;=6;<62
!""#$%& ()*+,(-
./0& 1*(
23%#4& ,(5(+51,()
67& 1+ /8 1+
!"#$% '$()*+,24 ". /01
8)"+7978#+) !9 -)"K78)
% <69D=X@ DC:D 5; 8:;F:9@ I`0 KLIH0 DC6 X596J5=;J -5D=5; X59 .676:>6 _6;Z=;J *MM6:7 [:> >6916Z 5; <5F;>67 5X 96<59Z X59 :77 M:9D=6> DC95FJC DC6 /-s'/, >@>D6E
(:D6ZN 8:;F:9@ I`0 KLIH s>s $567 82 ,9:;<=><5 $567 82 ,9:;<=><5 ./0'1#$ &/4 2/5#4* 6, 73%/''#$$
!""#$%& ()*+,(-
./0& 1*1
23%#4& ,(5(+51,()
67& ( /8 +
"#$%&%' (
!"#$% '$()*+,2/ ". /01
!""#$%& ()*+,(./0& 1*1 23%#4& ,(5(+51,() 1 /8 + ?"@$ ( 3A & ?"@$B2C !"#$% '$()*+,25 ". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.& 9:;$<67& -(=(&=(> (D.8E
RI C T C O U R T U N I T E D S T A T E S D I S T RI EASTERN DISTR RII C T O F V I R G I N I A RICHMOND DIVISION
STATES ES OF AME AMERICA RICA,, UNITED STAT
A c ti ti o on n N o . 3:14-CR-12
MCDONNELL, L, ROBERT F. MCDONNEL nd
MAUREEN G. MCDONNELL,
Defendants.
M E M O R
N
U M O R
E R
THIS MATTER is bef before the Co Cou urt on Def Defendan dant Robert ert F. Mc McD Donne nnell's Mo Mottion 51 Motion for Release Pending Ap Appe peal al ( M Mot otio ion n ) (ECF ECF No. No. 601). Pu Purs rsua uant nt to 18 U.S.C. § 3143(b), the Court
(1) . . . shall order that a person who has been found guilty of an offense and
sent senten ence ced d to a term term of im impr pris ison onme ment nt,, and and wh who o has has filed an app ppeeal or a petiti ition for for wri writt of certi certiora orari, ri, be deta detain ined ed,, unle unless ss th thee judic judicia iall off offic icerfindserfinds(A) by cl clea earr an and d convin nvinccing ing evide idence that that the the per perso son n is not likely to flee or po posse a da dang nger er to th thee saf afeetyof any ot othe herr pe pers rson on or th thee co comm mmun unit ity y if released...; released...; and (B) t h a t the appeal is not for the purpose of delay and raises a substantial
quest que stion ion oflaw oflaw or fa facct likel kely to res result ult i n (i (i)) revers reversal, al,
((iii) iiii) ) )an f o rthat a does trial, (iii a sent senten ence ce does not not incl includ udee a term term of im impr pris ison onme ment nt,, or (iv) a reduced sente ten nce to a te term rm of im imp priso risonm nmeent less than than the total of order
ne w
the time alre alread ady y se serv rved ed plusthe expected durati duration on ofthe of the appe appeal al process.
18 U.S.C. § 3143(b). He Herre,th e,ther eree is no disp disput utee as to the the first irst pron prong, g, that that bein being g Mr Mr.. McDonnell is
not likely to flee and does not pose a danger to the the safety of any other person orthe community. 18 U.S.C. § 3143(b)(1)(A). In analyzing th thee se seco cond nd pron prong, g, 18 U.S.C. § 3143 143(b)( (b)(1 1)(B )(B), the Cou Court rt
must make two inquires after finding th that at th thee appeal is no nott taken for for th thee purpose of delay: (1) whet whethe herr th thee ques questi tion on pr pres esen ente ted d on appe appeal al is a 's 'sub ubst stan anti tial al'' one; one; and and (2) (2) if de deci cide ded d in fa favo vorr of the the accused, whet whethe herr th thee su subs bsta tant ntia iall qu ques esti tion on is impor importan tantt enou enough gh to wa warr rran antt re reve vers rsal al or a new new
!""#$%& ()*+,(./0& 1*1 23%#4& ,(5(+51,() 9 /8 + ?"@$ . 3A & ?"@$B2C !"#$% '$()*+,26 ". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.& 9:;$<67& -(=(&=(> (D.F-
t ri al on all counts for which th e di dist stri rict ct court court impris imprison oned ed th e defendant.
Unite nited d Stat State es v.
Steinhorn 92 927 7 F.2 .2d d 19 195, 5,19 196 6 (4th (4th Cir ir.. 1991) (citing Un Uniited ted States States v. Miller Miller 753 753 F.2d .2d 19, 19, 23-24
(3d Cir. 1985)). A su subs bsta tant ntia iall qu ques esti tion on ha hass be been en defined as ' a 'c 'cllose se'' qu ques esti tion on or one one that that ve very ry wellcou we llcould ld be deci decide ded d th thee ot othe herr way. way.'' Id. (quoting United Sta 754 F.2d F.2d 898, 898, 901 901 States tes v. Giancola, 754 n t h Cir. Cir. 198 1985)). 5)).
Mr. McDonnell presents three issues that he contends are
substantial questions
important en enoug ough h to warrant reversal or new tr tria ial: l: (1) whether th e fi five ve action actionss th e Government
alle al leg gedin it itss In Ind dic ictm tmeent and and argue rgued d to the the jury jury qualify as official acts unde underr fede federal ral law; (2) whethe ther this this Court conducted suff ffic icie ien nt voir dir iree on pretria rial public licity; ty; and (3) (3) whethe ther this Court erre erred d by declining to follow the pr proc oced edu ure ress ou outtli line ned d in Un Unit ited ed Stat States es v. Resko, 3 F. 3d
684, 684, 688 688 (3d Ci Cir. r. 1993 1993),giv ),given en evide evidenc ncee of al alle lege ged d prematu premature re jury delib deliber erat ation ions. s. (Mem. in Su Supp pp.. of Mot. at 2, 23.) However, as the Court has fully explained in its memorandum opinions deny denyin ing g Mr. McDo McDonn nnel ell' l'ss Motio Motion n for New New Trial Trial an and d Rene Renewe wed d Motio Motion n for Judg Judgment ment of Acqu Acquitt ittal al (see (see EC ECF F No Nos. s. 56 567, 7, 571) th thee abov abovee-me ment ntio ione ned d issu issues es do not not pre presen sentt a clos closee ccal alll just justif ifyi ying ng bail bail pending app appeal eal..
With respect to the first issue, this Court previously found t h hat at [t [t]he Government he e j u r y to conc pr prov ovid ided ed subs substan tantia tiall evi vid dence for for t h conclu lude de that McDonnell knew what what [Jon [Jonni nie] e]
Will Wi llia iams ms was was seek seekin ing, g, specif ifiicall lly y, re rese sear arch ch st stud udie iess for for Star Star Sc Scie ient ntif ific ic's 's Anat Anatab ablo locc prod produc uct. t. (Mem (M em.. Op. at 5, De Dec. c. 1, 201 014, 4, ECF No. 567 67.) .) Th Thee Cou ourt rt addi additi tio onall nally y found ound that Mr Mr.. Mc McD Donne onnell ll atte attemp mpte ted d to use hi hiss gu gube bern rnat ator oria iall of offi ficce to in infl flu uen ence ce gove govern rnme ment ntal al deci decissions ions in fav favor of Star tar Scientific. (Mem. Op. at 7, Dec. 1, 2014, ECF No. 571.) The Cour Courtt conc conclu lude ded d that [su [subst bstant antial ial
evid vidence su supp ppor orts ts the the jury' ry's finding of a qui uid d and fair airly specifi ific, rela elated quo quo.
Id. at 8.) Mr.
McDo Mc Donn nnel elll ass assur ured edly ly di did d more more tha than n prov rovid idee mer eree acces ccesss to Willia Williams ms-h -hee perf perfor orme med d of offficial
acts ac ts as that that te term rm is def efin ineed un unde derr fe fede dera rall bri ribe bery ry la laws ws.. Ther Theref efor oree, for for the the foregoing re reas ason onss, and for all the reasons stat stated ed in this Court's pri rior or memor emoran andu dum m opinions, this is not a close question that ju just stif ifie iess rele releas asee pending appea appeal. l.
!""#$%& ()*+,(./0& 1*1 23%#4& ,(5(+51,() + /8 + ?"@$ & 3A & ?"@$B2C !"#$% '$()*+,27 ". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.& 9:;$<67& -(=(&=(> (D.F(
As to the second issue, the voir dire process is essentially committed to the sound
discr dis cret etion ion of the the di dist stri rict ct co cour urtt b bec ecaaus usee the de deter termi mina natio tion n of im impa part rtia iali lity ty,, in which demeanor
plays such such an imp mpor orta tant nt part part,, is particularly wi witthi hin n th thee province of the the tria rial judge. United Statess v. Lanc State Lancas aste ter r 96 F.3d F.3d 73 734, 4, 73 738 8 (4 (4th th Cir. Cir. 19 1996 96)) (c (cit itat atio ion ns and inte intern rnal al qu quot otat atio ion n ma mark rkss omit om ittted ed). ). As exp xpla lain ineed in it itss memo memora rand ndum um op opin iniion denyi enyin ng Mr. Mr. Mc McD Donne onnell ll's 's Mo Moti tion on for New Trial, this Court found tha thatt the pr proc oced edur ures es employed in managing voir dire and the effects of
any pretrial publ public icit ity y were ade adequa quate te and Mr. McDonnell s claims were unfound unfounded. ed. (Mem. Op. at 15, Dec. 1, 2014 2014,, EC ECFNo. FNo. 567. 567.)) It is not not a clos closee ca call ll wh whet ethe herr this this Co Cour urtt prop proper erly ly ac acte ted d wi with thin in i ts ts d i ssc cre ett iio o n a s t o t h i s i s s ue .
Li Like kewi wise se,, with with reg regard ardss to alle allege ged d prema premature ture jury de deli liber berat atio ions, ns, the the Co Cour urtt was was ent entitl itled ed to ex exer erci cise se its its discretio discretion n an d assess th e situation presented. presented.
Id. at 17. 7.)) The The Cour Courtt fo foun und d that Louis
DeNitto's st stat atem emen ents ts to at atto torn rney ey Ji Jim m Wa Wats tson on did did no nott prov provid idee suff suffic icie ient nt in indi dici ciaa of prem premat atur uree
deliberations.
Id. Al Altho thoug ugh h Mr. McDonnell cont contin inue uess to re relyon lyon Resko, 3 F. 3d 684 to suppo porrt
hiss argu hi rgument ment,, for for th thee re reas aso ons st stat ated ed in this this Cour Court' t'ss memo memora rand ndum um op opin inio ion n den enyi ying ng his his Mo Moti tio on
for for New Tr Tria iall (see (see ECF No No.. 567 567 at 18-1 18-19) 9),, Mr Mr.. McDonnell's argu argume ment nt rema remain inss unpe unpers rsua uasi sive ve.. Thus Th us,, this this to too o do does es no nott con consti stitut tutee a subs substa tant ntia iall qu ques esti tion on.. Forr th Fo thee fo fore rego goin ing g re reas ason ons, s, th thee Mo Moti tion on is he hereb reby y DE DENI NIED ED.. Let th e Clerk send a c op op y of thi thiss O rde rderr to all all co coun unse sell of record. t
DE E R ED ED . is S O O R D
James R. Spencer S en io r U . S . District J u d s e
E N T E R E D this
day of January 2015.
!""#$%& ()*+,(-
./0& 1*2
34%#5& ,(6(+61,()
78& ( /9 :
"#$%&%' &
!"#$% '$()*+,20 ". /01
!""#$%& ()*+,(./0& 1*2 ,(6(+61,() 1 /9 : @"A$ ( 3B 9 @"A$C2D !"#$% '$()*+,38 ". /01 !"#$ &'()*+,*---(.*/01 &'()*+,*--(.*/01 34%#5& 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F( AO 245B 245B Rev. Rev. I2/0 I2/03XV 3XVAED AED re rev.2 v.2 Sh Shee eett 1- Judg Judgme ment nt ina Cr Crim imin inalCas alCasee
U N IT IT E D S T AT E S D I S T R I C T
COURT
Eastern District o f Virginia R i c hm h m o n d D i v is i s i on on U N IT IT E D S T A T TE E S O F A M E RI RI C CA A V.
o
ert
C a se se N u m b e err :
3: 14cr 00012- 001
US M Number:
8 3 7 5 8 -0 8 3
f. M c D o n n e ll
Defendant s Attorn Attorney: ey:
D e fe n d a n t.
JOHN BROWNLEE, ESQ., HENRY ASB ASBILL ILL,, ESQ ESQ..
M E N D E D J UD G M EN T IN
O N L Y C H AN G E
A
RIMIN
L
SE
Corrected Offense E n d date o n C o u n t 10
The defe defend ndan antt was found guil guilty ty on Coun Countt s) af afte terr a plea o f not guilty to C ou ou nts nts 1, 2, 3, L 5, 6, 7, 8, 9, IC a n nd d 11
of
th e Indi ct ment .
Th Thee defend defendant ant is adju adjudi dica cate ted d gu guil ilty ty o f the these se off offense enses. s. c t iio on Ti t l e a n d S e ct
Nature
18U.S.C. 1349
CONSPIRACY T O C O OM M M IIT T
of
Offense
HONEST
SERVICES
WIRE
FRAUD
8U
S
C
343
HONEST
SERVICES
WIRE
FRAUD
8U
S
C
343
HONEST
SERVICES
WIRE
FRAUD
8U S C
343
HONEST-SERVICES WIRE FRAUD
8U
95
CONSPIRACY TO OBTAIN
S
C
la ss s s O ff ff e en n se se E n nd de ed d O f f e n s e C la
Couiit
Felony
3/2013
1
Felony Felony Felony Felony
5/26/2011
2
3/12/2012
3
5/22/2012
4
3/2013
5
Felony
5/23/20; 1
6
Felony
5/29/20:1
8
Felony
1/7/201::
9
Felony
3/6/201::
10
Felony
5/22/20 2
11
P R OP E R RT T Y U N D E R C O LO R O F
OFFICIAL
1 8 U . S . C . 1951 A N D 2
RIGHT
O B T AI A I N IIN N G P R OP OP E R RT TY UNDER C O LO L O R O F O F FI F I CI C I A L R IIG GHT
18U.S.C.
1951
AND
2
O B TA IN IN G P RO P E ER R TY U N D ER COLOR
1 8 U . S . C . 1951 A N D 2
O F O F FI F I CI CI A L R I G H T
O B T A IN IN I N NG G PROP PE ERTY UNDER
C OL O R O F O F F I CI A L RI G H T I8U.S.C.
1951
AND
2
OBTAINING
PROPERTY
UNDER
C OL OL OR O F O F F I C I A L R I G H T 18U.S.C.
1951
AND
2
O B TA IN IN G P RO P E ER R TY U N D E R
C O L O R O F O F FI F I C IIA AL RIG GH HT
eee n fou n nd d not g u uii lt lt y on Count s 12 an d 13 o f th e Indictment. Th e defendant has b e Th e d ef ef en en dan dantt is s een n ten tence ced d as p rro o vi vi d ded ed in p aag g eess 2 t h hrr o ou ug gh h 7 o f this Judgment. Judgment. Th e sen senten tence ce is im impo pose sed d
pu purs rsua uant nt to th thee Sente Sentenc ncing ing Refo Reform rm Act Act o f 1984.
!""#$%& ()*+,(./0& 1*2 34%#5& ,(6(+61,() 2 /9 : @"A$ . 3B 9 @"A$C2D !"#$% '$()*+,3". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F.
!""#$%& ()*+,(./0& 1*2 34%#5& ,(6(+61,() + /9 : @"A$ & 3B 9 @"A$C2D !"#$% '$()*+,32 ". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F&
./0& 1*2 34%#5& ,(6(+61,() ) /9 : @"A$ ) 3B 9 @"A$C2D !"#$% '$()*+,33 ". /01 !""#$%& ()*+,(!"#$ &'()*+,*---(.*/01 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F)
!""#$%& ()*+,(./0& 1*2 34%#5& ,(6(+61,() ; /9 : @"A$ ? 3B 9 @"A$C2D !"#$% '$()*+,34 ". /01 !"#$ &'()*+,*---(.*/01 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F?
./0& 1*2 ,(6(+61,() < /9 : @"A$ 8 3B 9 @"A$C2D !"#$% '$()*+,3/ ". /01 !""#$%& ()*+,(!"#$ &'()*+,*---(.*/01 &'()*+,*--(.*/01 34%#5& 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F8
./0& 1*2 34%#5& ,(6(+61,() : /9 : @"A$ 9 3B 9 @"A$C2D !"#$% '$()*+,35 ". /01 !""#$%& ()*+,(!"#$ &'()*+,*---(.*/01 23+45$67 8.9 :;<$=78& -(>(&>(? (E.F9
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& ( /8 (+
"#$%&%' (
!"#$% '$()*+,36 ". /01
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& 1 /8 (+
!"#$% '$()*+,37 ". /01
1
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA RICHMOND DIVISION
1 2 3
------------------------------------------
4
UNITED STATES OF AMERICA,
5 Plaintiff; 6
v.
7
ROBERT F. McDONNELL Defendant.
8 9
Criminal Action 3:14CR12
-------------------------------------------
10
January 6, 2015
11
Richmond, Virginia 10:00 a.m.
12
SENTENCING PROCEEDINGS
13
BEFORE:
HONORABLE JAMES R. SPENCER United States District Judge
APPEARANCES:
MICH ICHAEL S. S. DR DRY, E ES SQ. DAVID V. HARBACH, II, ESQ. JESSICA D. ABER, ESQ. RYAN S. FAULCONER, ESQ. RICHARD D. COOKE, ESQ.
14 15 16 17 18
Counsel for Government;
19 20 21 22
JOHN L. BROWNLEE, ESQ. HENRY W. ASBILL, ESQ. TIMOTHY J. TAYLOR, ESQ. JAMES M. BURNHAM, ESQ. NOEL J. FRANCISCO, ESQ. THOMAS B. SHUTTLEWORTH, II, ESQ.
23 Counsel for Robert F. McDonnell; 24 25
JEFFREY B. KULL
OFFICIAL COURT REPORTER
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& 9 /8 (+
!"#$% '$()*+,30 ". /01
170
Your Honor, I am now 60 years old.
1
Whatever
2
days the Lord will yet provide me on this earth, I
3
dedicate anew to the service of others.
4
to permit me to employ my experience and my energy to
5
serve people in need in our state or in other countries
6
over these next few years, working in one of the myriad
7
community service programs that my counsel has submitted
8
to the Court.
I ask Your Honor
And I ask that whatever mercy the Court may
9 10
extend in this case, I ask that you consider granting it
11
first to my wife, Maureen. Throughout my life, Judge Spencer, I have placed
12 13
great confidence in our system of justice, and even
14
greater confidence in the providence and protection of the
15
Lord Jesus Christ.
16
myself to the judgment of the Court and I thank you for
17
considering my words. THE COURT:
18 19
So Your Honor, with that, I submit
All right, thank you.
You can have
a seat.
20
(The defendant was seated.)
21
We come once again to what is indeed our most
22
difficult task, deciding what is an appropriate sentence
23
for another human being; appropriate for the crime
24
committed, appropriate in light of the history,
25
characteristics, the humanity of the offender, acceptance
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& + /8 (+
!"#$% '$()*+,48 ". /01
171
1
of responsibility, deterrence general and specific, the
2
public good, protection, and retribution.
3
an awesome responsibility and we take it seriously.
4 5 6
Sentencing is
This case requires some comment, some out loud analysis before sentence is imposed. Now, there has been a lot of blame assessed to
7
account for the defendant's predicament during the course
8
of the trial and in the public arena.
9
is pointed at the Justice Department, the U.S. Attorneys.
10
The assertion was made that they have been too zealous in
11
pursuing their prosecution.
12
Virginia State Police?
13
in their investigations?
14
didn't understand.
15
Jonnie Williams, who snaked his way into the Governor's
16
household.
17
according to some, dangerously delusional.
18
the one who roped the Governor into this predicament.
First, the finger
And what about the FBI or the
Were they unfair or too vigorous Maybe it was the jury, who just
Maybe it is the Judge.
Maybe it is
Maybe it is his co-defendant, his wife, now, Maybe she was
19
Acceptance of responsibility, a demonstration of
20
remorse, these are factors that I am told to consider when
21
discerning an appropriate sentence.
22
Now, there has been some suggestion that perhaps
23
this trial was not fair.
We have certain metrics by which
24
we measure a fair trial.
They are not secret or hidden.
25
They are written down in rules, statutes, and a
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& ) /8 (+
!"#$% '$()*+,4- ". /01
172
1
Constitution.
A grand jury returned an indictment and the
2
defendants were placed on notice of the precise charges
3
against them.
4
Court, advised of their rights, arraigned, released on
5
personal recognizance, and given a trial date, a trial
6
date that allowed them more than adequate time to prepare.
7
Six to seven weeks of trial time was made available so
8
everyone would have an opportunity to make their case.
The defendants were brought before the
The defendants exercised their right to counsel,
9 10
absolutely.
The defendants were represented by able,
11
experienced, highly motivated counsel.
12
a rigorous, multi-pronged defense and challenged the
13
Government's case at every turn.
14
dozens and dozens of motions and briefs.
15
aggressively exercised their right to confront any
16
witnesses called against them.
17
thorough and relentless.
And counsel put on
There were dozens and The defendants
Cross-examination was
Did the defendants have a full opportunity to
18 19
put on a case?
The defendant took the stand and testified
20
for days.
21
expansive direct examination, even when I heard the same
22
testimony for the third and fourth time.
23
give the defendant a full and fair opportunity to be
24
heard.
25
counsel, their final opportunity to persuade the jury to
The Court was beyond generous in allowing the
But we wanted to
And then when we had the closing arguments of
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& : /8 (+
!"#$% '$()*+,42 ". /01
173
1
their point of view, there was no time limit.
2
arguments were passionate and well done. Was this a public trial?
3
These
You betcha.
4
Unprecedented media involvement and access.
5
I can tell, no one was shy about using that media to get
6
their message out. So my conclusion, based on all of the metrics
7 8
that matter:
9
due him.
10 11
And as far as
Mr. McDonnell got all the process that was
Whether or not you prevailed is not how you
determine if a trial was fair. Let me say a few words about the jurors in this
12
case, because they are not here to speak for themselves.
13
How many citizens do you think would gleefully give up six
14
or seven weeks of their lives to sit on a jury?
15
tremendous sacrifice: social, educational, family,
16
employment, financial sacrifice.
17
service, jury duty is the pinnacle of public service for
18
the average citizen.
19
in this case and came to a verdict were a group of very
20
fine people who persevered and fulfilled the difficult
21
task they were called to do.
22
It is a
Other than military
These twelve jurors who deliberated
I also need to say this, because there is no
23
record on this issue that has been bandied about:
The
24
name and personality of Robert F. McDonnell didn't
25
register on my radar screen until he ran for Attorney
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& ; /8 (+
!"#$% '$()*+,43 ". /01
174
1
General.
2
for Governor.
3
had to decide between competing candidates.
4
then, the only thing I knew about him was what I could
5
glean from political advertisements.
6
don't know him, and he doesn't know me.
7
He didn't fully register with me until he ran And like all my fellow Virginia citizens, I And even
The bottom line:
Now, let's get to the job I have this morning:
8
Finding a sentence that is fair and appropriate
9
considering all of the factors that I am required to
10 11
I
consider in 3553(a). The starting point in the analysis is, of
12
course, the Sentencing Guidelines Range.
A brief history
13
lesson so that we can all understand where these
14
Sentencing Guidelines came from:
15
this job in 1986, there were no Sentencing Guidelines.
16
There was a certain political orthodoxy that pushed the
17
notion that sentencing discretion should be taken away
18
from judges, and that discretion would be replaced by a
19
system where you plug in the numbers and a factual matrix
20
and out would pop a Sentencing Guidelines Range.
21
would be no discretion.
22
That is, the sentence would have to be within the
23
Guidelines Range.
24
exceptional, extreme, or extenuating circumstances,
25
youthful offender or not, physical health issues, mental
When I first came to
There
The Guideline was mandatory.
It didn't matter if there were
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& < /8 (+
!"#$% '$()*+,44 ". /01
175
1
health issues, family hardship, aberrant behavior.
2
was no place for grace or mercy.
3
There
But some of us judges, and I certainly was
4
included in that number, pushed back at this notion that
5
our discretion could be taken away by another co-equal
6
branch of government.
7
U.S. Supreme Court finally said that the Sentencing
8
Guidelines, to be constitutional, must be discretionary.
9
Imagine if these Guidelines were mandatory and
We battled for decades until the
10
the Court had no choice but to sentence Governor McDonnell
11
to seven or eight years in prison.
12
It would be ridiculous under these facts.
13
somewhere thought that was fair.
14
is somebody else's husband, or brother, or father.
15
never seemed fair to me.
16
That would be unfair. But somebody
Maybe it is fair when it But it
Hundreds of letters were filed in this case, and
17
I have read every single one of them.
18
thoughtful and moving, personal recollections of good
19
deeds, good character, and ultimately a request for a
20
lenient sentence.
21
and honest letters from Reverend Wayne Ball and Thomas
22
Farrell, Linda Hassell, Janet Kelly, an especially
23
thoughtful letter that she wrote, as well as one from
24
Clovia Lawrence, who testified here today.
25
Most of them were
Among these were particularly moving
Then there were a few other letters that were
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& - /8 (+
!"#$% '$()*+,4/ ". /01
176
1
not quite as helpful.
They either continued to blame,
2
cast blame on others, or see conspirators behind every
3
tree.
4
from these letters:
5
done a lot of good during his time in the public arena.
6
have no reason to doubt this.
7
him credit for that in my assessment in coming to an
8
appropriate verdict.
But the overall view of the defendant that I got That he is a good and decent man, has I
And I will certainly give
I also have great respect for those who've
9 10
provided military service to this nation.
Anybody who
11
knows me knows that's one of my weak spots, and he
12
deserves credit and will receive credit for that.
13
believe that honorable military service means something
14
and should mean something in every assessment of a citizen
15
in this country.
I
This entire case has been tragic from beginning
16 17
to end.
I reviewed letters from some of the Governor's
18
closest staff members, most of whom also testified during
19
the trial.
20
loyalty that in the end amounts to devotion.
21
clearly have his best interest at heart.
22
best interest at heart now; they had his best interest at
23
heart when they were working for him.
24
Williams for what he was, and they sounded the alarm.
And they are very loyal to the Governor, a And they
They have his
And they saw Jonnie
25
There was good advice and counsel all over the place.
But
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& (, /8 (+
!"#$% '$()*+,45 ". /01
177
1
it went unheeded.
While Ms. McDonnell may have allowed
2
the serpent into the Mansion, the Governor knowingly
3
brought him into his business and financial affairs, and
4
thus the seeds of this case were planted.
5
I have great sympathy for this family.
6
could, I would turn back the hands of time and change this
7
situation completely.
But obviously, I can't do that.
No one wants to see a former Governor of this
8 9
And if I
great Commonwealth in this kind of trouble.
But the facts
10
of this case could not be ignored by the investigators, or
11
the prosecutors, or by the jury, or by the Court for that
12
matter.
13
defraud.
14
mercy that I can muster, it cannot cover it all.
15
must be paid, and that is some level of punishment.
16
breaks my heart, but I have a duty and responsibility
17
which I cannot avoid.
18
my hands of it all.
19
imposed.
The jury, by its verdict, found an intent to This is a serious offense that all the grace and A price It
Unlike Pontius Pilate, I can't wash A meaningful sentence must be
20
Now, in the twenty-eight, almost twenty-nine
21
years that I have been doing this, I have asked myself
22
this question over and over again at sentencings at
23
various times during the years:
24
in this courtroom, good people end up being found guilty
Why do good people end up
25
of doing bad things?
I don t have the answer yet, and I
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& (( /8 (+
!"#$% '$()*+,46 ". /01
178
1
may never get it on this side of the Jordan.
2
continue to be perplexed by it.
3
could engender this kind of support, his friends adore
4
him, his family, they love him.
5
kinds of chances?
6
went before this jury, they had an opportunity to accept
7
the Governor's position.
8
it.
9
the conclusion that he committed an offense.
10 11 12 13 14
I don't know.
But I
Obviously, a man that
Why would you take these But on these facts that
His case was made.
They heard
They rejected it and accepted that the facts led to And I simply
cannot ignore it. All right, Mr. McDonnell, would you please stand where you are along with your counsel. (Defendant and counsel stood.) It is the judgment of the Court that the
15
defendant, Robert F. McDonnell, is hereby committed to the
16
custody of the U.S. Bureau of Prisons to be imprisoned for
17
a term of 24 months.
18
each of Counts One through Eleven, all to be served
19
concurrently.
20
of the sentence at the institution designated by the
21
Bureau of Prisons before two p.m. on February 9th, 2015 as
22
notified by the U.S. Marshal.
The term consists of 24 months on
The defendant shall surrender for service
23
Upon release from imprisonment, the defendant
24
shall be placed on supervised release for a term of two
25
years.
This term consists of two years on each of Counts
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& (1 /8 (+
!"#$% '$()*+,47 ". /01
179
1
One through Eleven, all to run concurrently.
Within 72
2
hours of release from the custody of the Bureau of
3
Prisons, the defendant shall report in person to the
4
Probation Office in the district to which he is released. While on supervision, the defendant shall not
5 6
commit another federal, state, or local crime, and he
7
shall not unlawfully possess a controlled substance, and
8
he shall not possess a firearm or other destructive
9
device.
10
The defendant shall comply with the standard
conditions that have been adopted by this Court. The defendant shall also comply with the
11 12
following special conditions:
13
incur new credit charges or open additional lines of
14
credit without the approval of the Probation Officer.
15
defendant shall provide the Probation Officer access to
16
any requested financial information.
17
Presentence Report, the defendant presents a low risk of
18
future substance abuse, and therefore, the Court hereby
19
suspends the mandatory condition for substance abuse
20
testing.
21
Probation Office from administering drug tests as they
22
deem appropriate.
23 24
The defendant shall not
The
As reflected in the
However, this does not preclude the U.S.
The Court has considered the defendant's financial situation in its totality, and the Court finds
25
that the defendant is not capable of paying a fine, and
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& (9 /8 (+
!"#$% '$()*+,40 ". /01
180
1
therefore, none will be imposed.
2
As to Counts One through Eleven, the defendant
3
shall pay a special assessment in the amount of $100 for
4
each count, for a total of $1,100.
5
assessments shall be due in full immediately.
6
special assessments are not paid immediately, any balance
7
remaining unpaid on the special assessments at the
8
beginning of supervision shall be paid by the defendant in
9
installments of not less than $100 per month until paid in
The special If the
10
full.
Said payments shall commence 60 days after the
11
defendant's supervision begins.
12
balance shall become a special condition of supervised
13
release.
Payment of any unpaid
Nothing in the Court's order shall prohibit the
14 15
collection of any judgment or assessment by the United
16
States.
17
Mr. McDonnell, you have a right to appeal any
18
finding of the jury as well as the sentence of the Court,
19
and if you were going to do that you would have to file a
20
Notice of Appeal within fourteen days of today's date.
21
That completes this matter.
22
MR. BROWNLEE:
Your Honor, we request that he be
23
designated to a place closest to his home, which I believe
24
is Petersburg, if that's appropriate to the Court.
25
THE COURT:
I will recommend to the Bureau of
!""#$%& ()*+,(-
./0& 1*+
23%#4& ,(5(+51,()
67& (+ /8 (+
!"#$% '$()*+,/8 ". /01
181
1
Prisons that he be housed at the closest appropriate
2
facility to his home.
3
MR. BROWNLEE:
4
THE COURT:
5
MR. BROWNLEE:
Thank you, Your Honor.
Thank you all very much. We had filed a motion regarding
6
bond pending appeal, Your Honor.
7
Court -THE COURT:
8 9 10
have a response.
I don't know what the
I just got that yesterday.
I don't
At least I haven't seen the response.
But I will deal with it in order. (Proceedings adjourned at 2:51 p.m.)
11 12
CERTIFICATE OF REPORTER
13
I, Jeffrey B. Kull, Official Reporter, certify that
14
the foregoing is a correct transcript from the record of
15
proceedings in the above-entitled matter.
16 17 18
__________/s/_________________
19
Jeffrey B. Kull, Official Federal Reporter
20 21
__________/s/_________________
22
Date
23 24
25
!""#$%& ()*+,(-
./0& 1*)
23%#4& ,(5(+51,()
67& ( /8 9
"#$%&%' (
!"#$% '$()*+,/- ". /01
!""#$%& !"#$%()*+,('()*+'*
./0& 1*) 33''4567*6* 23%#4& ,(5(+51,() 1 /8 :;<$=% 9 !"#$% '$()*+,/2 ". /01 ,-./0$12% 8"9$% ' 67&,"2$ 3'>3?>*3'7 @12AB C,% 7656553
United States Court of Appeals For the First Circuit __________________
No. 14-2312 UNITED STATES, Appellee, v. JOHN O'BRIEN, Defendant – Appellant, Appellant, __________________ __________________
No. 14-2313 UNITED STATES, Appellee, v. ELIZABETH V. TAVARES,
–
Defendant Appellant, __________________ Before Lynch, Chief Judge, Kayatta and Barron, Circuit judges. __________________ ORDER OF COURT
Entered: January 9, 2015 Based theappeals material presented by the parties, the within court is of 18 a sufficient probability thatonthe present a "substantial question" q uestion" thepersuaded meaning of U.S.C. §
3143(b)(1)(B). Appellants' motions for release release pending appeal under the same conditions imposed
!""#$%& '()*+'* !"#$%()*+,(-
./0& 1*) 33''4567*6* 23%#4& ,(5(+51,() 9 /8 :;<$=% 9 !"#$% '$()*+,/3 ". /01 ,-./0$12% 8"9$% * 67&,"2$ 3'>3?>*3'7 @12AB C,% 7656553
for release pending trial and pending the self-reporting date are granted. granted. The pending motions for leave to file oversized documents are also granted. By the Court: /s/ Margaret Carter, Clerk cc: Hon. William G. Young Robert Farrell, Clerk, United States District Court for the District of Massachusetts Judith H. Mizner Stylianus Sinnis William W. Fick Christine DeMaso Martin G. Weinberg Kimberly Homan Jeffrey Alan Denner Richard Bradford Bailey Adamo L. Lanza Dina Michael Chaitowitz Karin Marie Bell Robert Averill Fisher Fred M. Wyshak Jr. Michael O. Jennings Helene Kazanjian Daniel P. Sullivan
!""#$%& ()*+,(-
./0& 1*2
34%#5& ,(6(+61,()
78& ( /9 2
"#$%&%' "
!"#$% '$()*+,/4 ". /01
!""#$%& ()*+,(- !"#$ ./0& 1*2 34%#5& ,(6(+61,() 78& 9:;$< 1 /9 2()=(>=&& ?"@$ & 4A !"#$% &'()*+,*((-./*012 34+56$78 -.( )/ '$()*+,// ". /01
1 2 3
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA --------------------------X UNITED STATES OF AMERICA, Docket No. CR 08-274 Plaintiff,
4
v.
Washington, D.C. November Novemb er 3, 2010 2:00 p.m.
5 6 7
AFTERNOON SE AFTERNOON SESSION SSION Defendant. ---------------------------X
KEVIN A. RING,
JURY TRIAL - DAY 12
8 9
BEFORE THE HONORABLE ELLEN SEGAL HUVELLE UNITED STATES DISTRICT JUDGE
10
APPEARANCES:
11
For For the the Plai Plaint ntif iff: f:
12 13 14 15 16
For For the the Defe Defend ndan ant: t:
Mr. Andrew T. Wise Mr. Timothy P. O'Toole 655 Fifteenth St., N.W. Suite 900 Washington, D.C. 20005 202.626.5552
[email protected] [email protected]
18 19 20
22 23
MILL MILLER ER & CHEV CHEVAL ALIE IER R CHAR CHARTE TERE RED D By:
17
21
UNIT UNITED ED STAT STATES ES DEPA DEPART RTMEN MENT T OF JUST JUSTIC ICE E Criminal Division - Fraud Section By: Mr. Nathaniel B. Edmonds Mr. Peter Koski 1400 New York Avenue, N.W. Washington, D.C. 20005 202.307.0629
[email protected] peter.koski@u peter.k
[email protected] sdoj.gov ov
Cour Court t Repo Report rter er: :
Cata Catali lina na Kerr Kerr, , RPR, RPR, CRR CRR U.S. District Courthouse Room 6509 Washington, D.C. 20001 202.354.3258
1
[email protected]
24 25
Proceedings recorded by mechanical stenography, transcript produced by computer.
!""#$%& ()*+,(- !"#$ ./0& 1*2 34%#5& ,(6(+61,() 78&9:;$< : /9 2()=(>=&& ?"@$ BC !"#$% &'()*+,*((-./*012 34+56$78 -.( 4A )/ '$()*+,/5 ". /01
1
officials.
2
Now, as I just instructed, the legality of any
3
camp campai aign gn cont contri ribu buti tion ons s in in thi this s cas case e is is not not an issu issue e bef befor ore e
4
you. you.
5
meal meals, s, tick ticket ets s and and othe other r gift gifts s des descr crib ibed ed in this this tria trial l wer were e
6
nece necess ssar aril ily y ille illega gal l or crimi crimina nal. l.
7
perfectly p pr roper an and le legal as as we well.
8 9
36
But But you you are are not not to infer infer from from this this instr instruc ucti tion on that that the
Thes These e thing things s may may also also be
Standing alone, providing gifts of meals and tickets to publ public ic offi offici cial als s are are not not cri crime mes, s, even even if they they are are pro provi vided ded
10
by some someon one e see seeki king ng to curr curry y fav favor or or infl influe uence nce with with thos those e
11
offi offici cial als. s.
12
publ public ic offi offici cial al mere merely ly to build build a res reser ervo voir ir of of goo good d wil will l that that
13
migh might t ult ultim imat atel ely y aff affec ect t one one or or mor more e uns unspe peci cifie fied d act acts s now now or in in
14
the the futu future re. .
15
paym paymen ents ts for for ent enter erta tain inme ment nt, , spor sports ts even events ts and the the lik like e wou would ld
16
not not con const stit itut ute e vio viola lati tion ons s of the the ill illeg egal al gratu gratuit itie ies s or or hon honest est
17
serv servic ices es wire wire frau fraud d sta statu tutes tes if the the int inten ent t of of the the Defe Defend ndan ant t
18
was was sim simpl ply y to to cul culti tiva vate te a pers person onal al, , pro profe fess ssion ional al, , bus busin ines ess s or
19
poli politi tica cal l --- I'm I'm sorr sorry y --- cult cultiv ivat ate e a pers persona onal, l, busi busine ness ss, , or
20
political fr fri iendship.
21
It is not not ille illegal gal to give give a thing thing of valu value e to a
Offe Offeri ring ng hosp hospita itali lity ty to a publ public ic offi offici cial al throu through gh
A lobbyist is a person who, for compensation on
22
beha behalf lf of a cli clien ent, t, enga engage ges s in in dir direc ect t com commu muni nica cati tion on with with
23
publ public ic off offic icia ials ls for for the the purp purpos ose e of infl influe uenci ncing ng legi legisl slat ativ ive e or
24
admi admini nist stra rati tive ve acti action ons. s.
Lobby Lobbyis ists ts ofte often n use use hosp hospit ital alit ity y to
25
cult cultiv ivat ate e per perso sona nal l and and polit politic ical al rela relati tion onsh ships ips with with publ public ic
./0& 1*2 34%#5& ,(6(+61,() 78&9:;$< + /9 2()=(>=&& ?"@$ B. !"#$% !""#$%& ()*+,(- !"#$ &'()*+,*((-./*012 34+56$78 -.( 4A )/ '$()*+,/6 ". /01
1
offi offici cial als. s.
37
As I said said, , there there is noth nothin ing g illeg illegal al abou about t this this
2
prac practi tice ce. .
The The fact fact that that gifts gifts or hosp hospit ital ality ity migh might t make make a
3
publ public ic offi offici cial al will willin ing g to to tak take e a lobb lobbyi yist st's 's phon phone e cal call l or or
4
migh might t pro provi vide de the the lob lobby byis ist t gre great ater er acce access ss to the the off offic icia ial' l's s
5
appo appoin intm tmen ent t sch sched edul ule e is is not not enou enough gh by itse itself lf to demo demons nstr trat ate e
6
the the lob lobby byis ist' t's s int inten ent t to to prov provid ide e ill illeg egal al gratu gratuit itie ies s or or to to
7
depr depriv ive e the the publ public ic of the the gover governm nmen ent t offi offici cial' al's s hone honest st
8
serv servic ices es. .
9
prov provid ided ed ille illega gal l gra gratu tuit itie ies s or comm commit itte ted d hone honest st serv servic ices es wire wire
Ther Theref efor ore, e, you you canno cannot t find find that that the Defe Defend ndan ant t has
10
frau fraud d if if you you find find that that his his int inten ent t was was limi limited ted only only to the the
11
cult cultiv ivat atio ion n of busi busine ness ss or or poli politi tica cal l frie friend ndsh ship ip. .
12
Such gifts become criminal only if you find beyond a
13
reas reason onab able le doub doubt t tha that t the they y wer were e giv given en in viola violati tion on of eith either er
14
the the ill illeg egal al grat gratui uiti ties es or hones honest t ser servi vice ces s wire wire frau fraud d sta statu tutes tes, ,
15
as will will be desc descri ribe bed d belo below. w.
16
doub doubt t tha that t gif gifts ts were were give given n in viol violat atio ion n of of thes these e sta statu tute tes, s, it it
17
make makes s no no dif diffe fere renc nce e tha that t the the give giver r als also o had had a law lawfu ful l rea reaso son n or or
18
motivation fo for gi giving th the gi gift.
19
If you you find find beyon beyond d a reas reason onab able le
Now, we talked a lot about thing of value.
I will
20
be inst instru ruct ctin ing g you you in a mome moment nt abou about t the the offen offense ses s cha charg rged ed in
21
the the indi indict ctme ment nt. .
22
of valu value, e, end end of of quo quote te, , incl includ udes es thin things gs posse possess ssin ing g int intri rins nsic ic
23
valu value, e, whet whethe her r tan tangi gibl ble e or or inta intang ngib ible le, , tha that t the the per perso son n giv giving ing
For For purp purpose oses s of thes these e char charge ges, s, a quot quote, e, thing thing
24
or offe offeri ring ng, , or or the the pers person on soli solici citi ting ng or recei receivi ving ng cons consid iders ers
25
to be worth something.
!""#$%& ()*+,(- !"#$ ./0& 1*2 34%#5& ,(6(+61,() 78&9:;$< ) /9 2()=(>=&& ?"@$ B) !"#$% &'()*+,*((-./*012 34+56$78 -.( 4A )/ '$()*+,/7 ". /01
1
38
This would include a sum of money, tickets, meals,
2
drin drinks ks, , gol golf f out outin ings gs, , tri trips ps and and job jobs s or or the the offe offer r of of job jobs, s, but but
3
it does does not, not, as I pre previ viou ously sly inst instru ruct cted ed you, you, incl includ ude e cam campa paign ign
4
cont contri ribu buti tion ons. s.
5
the the pub publi lic c off offic icia ial l but but to a fam famil ily y mem membe ber r or or thi third rd part party y for for
6
the the ben benef efit it of the the pub publi lic c off offic icia ial l and and at the publ public ic -- and and at at
7
the the pub publi lic c off offic icia ial' l's s kno knowi wing ng dire direct ctio ion. n.
8
It also also inclu include des s thin things gs of value value give given n not not to
A public official is defined as an officer or
9
empl employ oyee ee or pers person on acti acting ng for or on the the beh behalf alf of the the Uni United ted
10
Stat States es or any any dep depar artm tmen ent, t, agenc agency y or or bra branc nch h of of gove govern rnme ment nt
11
ther thereo eof, f, incl includ udin ing g the the Distr Distric ict t of of Col Colum umbi bia, a, in any any off offic icial ial
12
func functi tion on, , und under er or by auth authori ority ty of any any suc such h depa depart rtme ment nt, , agen agency cy
13
or bran branch ch of gove govern rnme ment nt. .
14
of Cong Congre ress ss, , the their ir empl employ oyees ees, , and and empl employ oyee ees s of of the the exec execut utive ive
15
branch are public employees.
16
Official act.
It is undi undisp sput uted ed here here that that memb members ers
In general, an official act, and
17
that that's 's in quot quote, e, mean means s any any dec decis isio ion n or or act action ion on any any que quest stion ion, ,
18
matt matter er, , cau cause se, , sui suit, t, proc proceed eedin ing g or or con contr trov overs ersy y whi which ch may may at at
19
any any tim time e be be pen pendi ding ng or which which may, may, by law, law, be brou brough ght t bef befor ore e
20
any any pub publi lic c off offic icia ial l in in suc such h offi offici cial al's 's offi officia cial l cap capac acit ity y or or in
21
such such offi offici cial al's 's plac place e of trust trust or prof proffe fer. r.
22
ques questi tion on, , mat matte ter, r, caus cause, e, suit, suit, proc procee eedi ding ng, , or or con contr trov over ersy sy, ,
23
refe refer r to a clas class s of ques questi tion ons s or matt matter ers s whos whose e ans answe wer r or
The The six six term terms, s,
24 25
disp dispos osit itio ion n is is det deter ermi mine ned d by by the the Gove Govern rnme ment nt. . An act may be official even if it was not taken
./0& 1*2 34%#5& ,(6(+61,() 78&9:;$< 2 /9 2()=(>=&& ?"@$ BD !"#$% !""#$%& ()*+,(- !"#$ &'()*+,*((-./*012 34+56$78 -.( 4A )/ '$()*+,/0 ". /01
1
39
purs pursua uant nt to resp respon onsi sibi bili liti ties es expl explic icit itly ly assig assigne ned d by by law law. .
2
Rath Rather er, , off offic icia ial l act acts s inc includ lude e tho those se acti activi vitie ties s tha that t hav have e been been
3
clea clearl rly y esta establ blis ishe hed d by sett settle led d prac practi tice ce as as part part of an an
4
offi offici cial al -- publ public ic offi offici cial' al's s posi positi tion on. .
5
act act inc inclu lude des s the the exer exerci cise se of both both form formal al offic officia ial l inf influ luen ence ce
6
such such as a leg legis isla lato tor' r's s vot vote e on on leg legis isla lati tion on and info inform rmal al
7
offi offici cial al inf influ luen ence ce suc such h as the the legi legisl slat ator or's 's beh behin indd-th thee-sc scene enes s
8
infl influe uenc nce e on on oth other er publ public ic offic officia ials ls in the the leg legis isla lati tive ve or
9
executive b br ranches.
10
There Therefo fore re, , offi offici cial al
Official act also includes a public official
11
alte alteri ring ng his his or or her her offi offici cial al acts acts, , cha chang ngin ing g a posi positi tion on which which
12
he or she she wou would ld have have othe otherwi rwise se take taken, n, or takin taking g act actio ions ns in his his
13
or her her off offic icia ial l cap capac acit ity y that that he or she she wou would ld not not hav have e tak taken en
14
but but for for the the sch schem eme e or or art artifi ifice ce to depr depriv ive e the the Unit United ed Stat States es
15
and and its its citi citize zens ns of thei their r int intan angi gibl ble e rig right ht to the the hon hones est t
16
serv servic ices es of cert certai ain n gove govern rnme ment nt offi offici cial als. s.
17
Mere favoritism, as evidenced by a public official's
18
will willin ingn gnes ess s to to tak take e a lobb lobbyis yist' t's s tel telep epho hone ne call call or to meet meet
19
with with a lobb lobbyi yist st is not not an offic officia ial l act. act.
20
info inform rmat atio ion n wit with h the the lobb lobbyis yist t or or hel helpi ping ng to dev devel elop op a lob lobbyi bying ng
21
stra strate tegy gy does does not not con const stit itut ute e an an off offic icia ial l act act. .
22 23
In addi additi tion on, , shar sharing ing
Kevin Ring denies all of the charges against him and main mainta tain ins s his his inno innoce cenc nce. e.
His posi positi tion on is that that the the evid eviden ence ce