TPRTapestry, Inc.Consumer Cyclical · Luxury Goodsas of 2026-09-16
Horizon

Issued 2026-09-16 at $117.94 · now $117.94 (2026-09-16, +0.0% since)

Based on its own history, a month from the 2026-09-16 close, TPR has typically landed between $99.46 and $142.95 — a range of −15.7% to +21.2% from the issuance price $117.94.

Range of outcomes in historically similar periods — not a price prediction. Ranges are scored publicly on /methodology.
  • Actual close
  • Typical path (median)
  • Middle 50% of outcomes
  • 90% range

4,685 overlapping 1 month windows · 2008-01-022026-08-17 · basis climatology · forecast (batch). Probability up 53.9% (90% CI 51.756.1%, ≈1,408 obs).

The cone is anchored at the 2026-09-16 issuance close ($117.94) — the price the forecast resolves against on 2026-10-15, not the latest close. The drawn path shape is illustrative (bands widen with √t); every labeled number is real — the anchor, the scored batch p90/IQR endpoints, and the typical move.

Where TPR has typically landed a month from the 2026-09-16 close of $117.94 — the range is history, not a prediction.

$99.46worst · -15.7%$142.95best · +21.2%
  • now $117.94 (+0.0%)
  • typicalThe typical outcome — half of similar past periods did better and half did worse (not an average, so a few wild periods don't skew it). $120.57 (+2.2%)
  • middle 50%The central range of outcomes — half of similar past periods landed inside it, a quarter finished above, a quarter below. $110.49$130.66
  • 90% rangeA nine-in-ten range — in about nine of every ten similar past periods the outcome stayed within these bounds. $99.46$142.95
Actual 1-month windows behind the coneiEvery overlapping 1-month window in this security's own price history was ranked by realized return; shown are the 3 worst and 3 best of 4,685 windows spanning 2008-01-02 to 2026-09-16. Not cherry-picked — these are the extremes of the full sample. Max drop / max rise are the deepest and highest points reached within each window. See /methodology.
StartReturnMax dropMax rise
3 worst
2020-02-21−61.6%−61.6%+0.0%
2020-02-13−59.6%−59.6%+1.3%
2020-02-20−57.6%−59.6%+0.0%
3 best
2009-04-07+53.1%+0.0%+53.1%
2009-03-05+51.8%−4.6%+51.8%
2009-03-06+51.3%−0.7%+58.0%

4,685 overlapping windows · 2008-01-022026-09-16 · not cherry-picked

Fundamentals iCompany financials — revenue, earnings, margins — from the newest filings shown, each carried with its date.iAs-reported figures and standard ratios from FMP, as of 2026-07-25. Revenue, net income and free cash flow can toggle annual or quarterly; margin, ROE and debt-to-equity are shown by fiscal year. We report the figures and the trend — no target price and no over/under-valued call. More on /methodology.

$28.8B
market cap
$3.12
EPS (TTM)
45.7
P/E (TTM)
2026-08-13
next earnings
Revenue$7.0B
'20'25
Net income$183M
'20'25
Free cash flow$1.1B
'20'25
Net margin · by yr2.6%
'20'25
ROE · by yr21.4%
'20'25
Debt / equity · by yr4.55
'20'25

Fair value — three views iIndependent reference estimates of worth (a cash-flow model, peer multiples, analyst targets), shown as separate views — not a single verdict.

iThree independent estimates of per-share value, each by a different method and each with its own assumptions: a discounted-cash-flow intrinsic value, a peer comparable (the median trailing P/E of 50 sector peers times this company's trailing EPS), and the analyst price-target consensus. They routinely disagree — that gap is the point. We show the three marks and the current price; we do not blend them into a single number or call the stock over- or under-valued. Marks as of the latest capture. More on /methodology.
now $117.94$18.94$245.63
  • DCF (intrinsic)$34.58
  • Peer P/E × EPS · sector median 23.8× · n=50$74.32
  • Analyst target · range $164.00$230.00$170.50
  • Current price · last close 2026-09-16$117.94

Seasonality · by month iHow this security has tended to do in each calendar month historically — a frequency, never a prediction.

iFor each calendar month, the share of years this security closed higher than the month before, and the average month-over-month return, over ~19 years of its own price history. Cells are shaded by average return. This is historical frequency, not a prediction — no month is a signal.
Jan
50%
+1.2%
n=18
Feb
68%
+5.9%
n=19
Mar
47%
−2.2%
n=19
Apr
58%
+4.1%
n=19
May
42%
−0.9%
n=19
Jun
47%
−1.5%
n=19
Jul
58%
+0.1%
n=19
Aug
37%
−3.8%
n=19
Sep
37%
+1.3%
n=19
Oct
56%
+3.2%
n=18
Nov
78%
+6.8%
n=18
Dec
67%
+3.6%
n=18

Up-frequency and average month-over-month return · historical frequency, not a prediction

Reported insider & political trades

Every Form 4 the people closest to this company have filed with the SEC — plotted against the share price, aggregated by month, and shown with the gap between when each trade happened and when it was disclosed. A public record, not advice.

Share price & reported tradesMonthly open-market valueReporting lag — trade date to filing date2026-092026-082026-072026-062026-052026-042026-032026-022026-012025-122025-112025-102025-092025-08$165$942026-09-09: 2 insider sales, $670K — Kulikowsky Denise …2026-08-19: 2 insider sales, $3.7M — Crevoiserat Joanne C. …2026-05-26: 1 insider sale, $2.7M — Kahn Todd2026-05-13: 2 insider sales, $3.7M — Crevoiserat Joanne C. …2026-03-03: 1 insider sale, $152K — Dadlani Manesh2026-02-18: 3 insider sales, $7.6M — Crevoiserat Joanne C. …2026-02-17: 3 insider sales, $2.2M — Greco Thomas …2026-02-11: 2 insider sales, $329K — Dadlani Manesh …2026-02-10: 6 insider sales, $9.2M — Roe Scott A., Gates Anne, Kulikowsky Denise …2026-02-09: 2 insider sales, $6.0M — Kahn Todd …2025-12-04: 1 insider sale, $67K — Kulikowsky Denise2025-11-26: 2 insider sales, $184K — Kulikowsky Denise …2025-11-24: 1 insider sale, $1.1M — Kahn Todd2025-11-21: 2 insider sales, $5.3M — Crevoiserat Joanne C., Roe Scott A.2025-11-18: 3 insider sales, $5.5M — Kahn Todd, Howard David E …2025-09-11: 2 insider sales, $1.2M — Lau Alan Ka Ming …2025-08-25: 1 insider sale, $781K — Dadlani Manesh2025-08: 1 open-market sale, $781K2025-09: 2 open-market sales, $1.2M2025-11: 8 open-market sales, $12.2M2025-12: 1 open-market sale, $67K2026-02: 16 open-market sales, $25.3M2026-03: 1 open-market sale, $152K2026-05: 3 open-market sales, $6.4M2026-08: 2 open-market sales, $3.7M2026-09: 2 open-market sales, $670K↑ buys↓ salesofficer Kulikowsky Denise — Sale on 2026-09-09, filed 1 day after the tradeofficer Kulikowsky Denise — Sale on 2026-09-09, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-08-19, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-08-19, filed 1 day after the tradeofficer Kahn Todd — Sale on 2026-05-26, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-05-13, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-05-13, filed 1 day after the tradeofficer Dadlani Manesh — Sale on 2026-03-03, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-02-18, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-02-18, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2026-02-18, filed 1 day after the tradedirector Greco Thomas — Sale on 2026-02-17, filed 1 day after the tradedirector Greco Thomas — Sale on 2026-02-17, filed 1 day after the tradedirector Greco Thomas — Sale on 2026-02-17, filed 1 day after the tradeofficer Dadlani Manesh — Sale on 2026-02-11, filed 1 day after the tradeofficer Dadlani Manesh — Sale on 2026-02-11, filed 1 day after the tradeofficer Roe Scott A. — Sale on 2026-02-10, filed 2 days after the tradeofficer Roe Scott A. — Sale on 2026-02-10, filed 2 days after the tradeofficer Roe Scott A. — Sale on 2026-02-10, filed 2 days after the tradedirector Gates Anne — Sale on 2026-02-10, filed 2 days after the tradeofficer Kulikowsky Denise — Sale on 2026-02-10, filed 2 days after the tradeofficer Kulikowsky Denise — Sale on 2026-02-10, filed 2 days after the tradeofficer Kahn Todd — Sale on 2026-02-09, filed 2 days after the tradeofficer Kahn Todd — Sale on 2026-02-09, filed 2 days after the tradeofficer Kulikowsky Denise — Sale on 2025-12-04, filed 1 day after the tradeofficer Kulikowsky Denise — Sale on 2025-11-26, filed 5 days after the tradeofficer Kulikowsky Denise — Sale on 2025-11-26, filed 5 days after the tradeofficer Kahn Todd — Sale on 2025-11-24, filed 1 day after the tradedirector Crevoiserat Joanne C. — Sale on 2025-11-21, filed 3 days after the tradeofficer Roe Scott A. — Sale on 2025-11-21, filed 3 days after the tradeofficer Kahn Todd — Sale on 2025-11-18, filed 1 day after the tradeofficer Howard David E — Sale on 2025-11-18, filed 1 day after the tradeofficer Howard David E — Sale on 2025-11-18, filed 1 day after the tradedirector Lau Alan Ka Ming — Sale on 2025-09-11, filed 1 day after the tradedirector Lau Alan Ka Ming — Sale on 2025-09-11, filed 1 day after the tradeofficer Dadlani Manesh — Sale on 2025-08-25, filed 1 day after the trade
DatePersonRoleActionShares @ priceValueOwnership Δvs S&P 1mvs S&P 6mOwned afterFiling
2026-09-09Kulikowsky DeniseofficerSale3,619 @ $115.36$417K−14.6% of holdingnot yet — horizon still opennot yet — horizon still open21,136Form 4 · filed 1 day after the trade
2026-09-09Kulikowsky DeniseofficerSale2,191 @ $115.40$253K−8.1% of holdingnot yet — horizon still opennot yet — horizon still open24,755Form 4 · filed 1 day after the trade
2026-08-19Crevoiserat Joanne C.directorSale14,720 @ $132.47$1.9M−2.2% of holdingnot yet — horizon still opennot yet — horizon still open666,149Form 4 · filed 1 day after the trade
2026-08-19Crevoiserat Joanne C.directorSale13,041 @ $132.47$1.7M−1.9% of holdingnot yet — horizon still opennot yet — horizon still open680,869Form 4 · filed 1 day after the trade
2026-05-26Kahn ToddofficerSale19,557 @ $140.02$2.7M−13.7% of holding+6.0%not yet — horizon still open123,258Form 4 · filed 1 day after the trade
2026-05-13Crevoiserat Joanne C.directorSale14,729 @ $132.88$2.0M−2.2% of holding+11.5%not yet — horizon still open652,434Form 4 · filed 1 day after the trade
2026-05-13Crevoiserat Joanne C.directorSale13,047 @ $132.90$1.7M−1.9% of holding+11.5%not yet — horizon still open667,163Form 4 · filed 1 day after the trade
2026-03-03Dadlani ManeshofficerSale975 @ $156.05$152K−5.3% of holding−2.8%−33.3%17,500Form 4 · filed 1 day after the trade
2026-02-18Crevoiserat Joanne C.directorSale20,372 @ $154.99$3.2M−2.9% of holding−3.8%−27.2%671,193Form 4 · filed 1 day after the trade
2026-02-18Crevoiserat Joanne C.directorSale15,123 @ $154.78$2.3M−2.1% of holding−3.8%−27.2%708,557Form 4 · filed 1 day after the trade
2026-02-18Crevoiserat Joanne C.directorSale13,300 @ $154.79$2.1M−1.8% of holding−3.8%−27.2%723,680Form 4 · filed 1 day after the trade
2026-02-17Greco ThomasdirectorSale5,276 @ $154.44$815K−19.9% of holding−5.4%−26.5%21,302Form 4 · filed 1 day after the trade
2026-02-17Greco ThomasdirectorSale4,942 @ $154.44$763K−15.7% of holding−5.4%−26.5%26,578Form 4 · filed 1 day after the trade
2026-02-17Greco ThomasdirectorSale4,027 @ $154.44$622K−11.3% of holding−5.4%−26.5%31,520Form 4 · filed 1 day after the trade
2026-02-11Dadlani ManeshofficerSale2,032 @ $153.45$312K−9.9% of holding−3.6%−29.5%18,475Form 4 · filed 1 day after the trade
2026-02-11Dadlani ManeshofficerSale115 @ $153.75$18K−0.6% of holding−3.6%−29.5%20,794Form 4 · filed 1 day after the trade
2026-02-10Roe Scott A.officerSale19,092 @ $152.64$2.9M−12.1% of holding−2.8%−11.3%139,128Form 4 · filed 2 days after the trade
2026-02-10Roe Scott A.officerSale15,000 @ $152.61$2.3M−8.7% of holding−2.8%−11.3%158,220Form 4 · filed 2 days after the trade
2026-02-10Roe Scott A.officerSale10,198 @ $152.60$1.6M−5.6% of holding−2.8%−11.3%173,220Form 4 · filed 2 days after the trade
2026-02-10Gates AnnedirectorSale6,498 @ $153.79$999K−22.3% of holding−2.8%−11.3%22,698Form 4 · filed 2 days after the trade
2026-02-10Kulikowsky DeniseofficerSale5,937 @ $155.62$924K−18.1% of holding−2.8%−11.3%26,942Form 4 · filed 2 days after the trade
2026-02-10Kulikowsky DeniseofficerSale3,229 @ $155.62$502K−8.1% of holding−2.8%−11.3%36,560Form 4 · filed 2 days after the trade
2026-02-09Kahn ToddofficerSale26,281 @ $151.00$4.0M−17.9% of holding−3.2%−7.2%120,578Form 4 · filed 2 days after the trade
2026-02-09Kahn ToddofficerSale13,534 @ $152.00$2.1M−7.6% of holding−3.2%−7.2%164,199Form 4 · filed 2 days after the trade
2025-12-04Kulikowsky DeniseofficerSale583 @ $115.17$67K−2.9% of holding+14.8%+15.0%19,285Form 4 · filed 1 day after the trade
2025-11-26Kulikowsky DeniseofficerSale1,096 @ $110.19$121K−5.5% of holding+16.7%+13.9%18,682Form 4 · filed 5 days after the trade
2025-11-26Kulikowsky DeniseofficerSale575 @ $110.20$63K−2.7% of holding+16.7%+13.9%20,389Form 4 · filed 5 days after the trade
2025-11-24Kahn ToddofficerSale10,344 @ $107.00$1.1M−7.3% of holding+20.1%+25.0%131,815Form 4 · filed 1 day after the trade
2025-11-21Crevoiserat Joanne C.directorSale31,735 @ $105.31$3.3M−4.5% of holding+18.7%+18.2%667,233Form 4 · filed 3 days after the trade
2025-11-21Roe Scott A.officerSale18,794 @ $104.85$2.0M−11.3% of holding+18.7%+18.2%148,149Form 4 · filed 3 days after the trade
2025-11-18Kahn ToddofficerSale29,000 @ $102.83$3.0M−25.1% of holding+19.4%+22.4%86,736Form 4 · filed 1 day after the trade
2025-11-18Howard David EofficerSale13,856 @ $102.50$1.4M−20.0% of holding+19.4%+22.4%55,354Form 4 · filed 1 day after the trade
2025-11-18Howard David EofficerSale11,173 @ $102.50$1.1M−13.9% of holding+19.4%+22.4%69,210Form 4 · filed 1 day after the trade
2025-09-11Lau Alan Ka MingdirectorSale7,649 @ $106.23$813K−48.4% of holding+1.7%+32.5%8,153Form 4 · filed 1 day after the trade
2025-09-11Lau Alan Ka MingdirectorSale3,671 @ $106.12$390K−18.9% of holding+1.7%+32.5%15,802Form 4 · filed 1 day after the trade
2025-08-25Dadlani ManeshofficerSale7,882 @ $99.05$781K−27.2% of holding+12.4%+52.0%21,098Form 4 · filed 1 day after the trade
2025-05-13Dadlani ManeshofficerSale269 @ $84.42$23K−0.7% of holding−4.1%+6.0%36,221Form 4 · filed 1 day after the trade
2025-05-12Kahn ToddofficerSale40,000 @ $81.40$3.3M−25.6% of holding−3.8%+11.8%116,062Form 4 · filed same day
2025-05-12Dadlani ManeshofficerSale665 @ $81.90$54K−1.6% of holding−3.8%+11.8%40,922Form 4 · filed 2 days after the trade
2025-05-12Dadlani ManeshofficerSale468 @ $81.87$38K−1.1% of holding−3.8%+11.8%41,587Form 4 · filed 2 days after the trade
2025-05-12Dadlani ManeshofficerSale266 @ $81.85$22K−0.6% of holding−3.8%+11.8%42,055Form 4 · filed 2 days after the trade
2025-02-26Kahn ToddofficerSale21,107 @ $85.41$1.8M−11.9% of holding−11.3%+8.3%155,878Form 4 · filed same day
2025-02-25Kahn ToddofficerSale21,107 @ $84.00$1.8M−10.7% of holding−7.9%+11.7%176,985Form 4 · filed 1 day after the trade
2025-02-21Kahn ToddofficerSale7,786 @ $87.59$682K−3.7% of holding−6.1%+10.7%201,531Form 4 · filed 3 days after the trade
2025-02-20Roe Scott A.officerSale14,297 @ $86.56$1.2M−8.9% of holding−7.8%+10.0%146,587Form 4 · filed 4 days after the trade
2025-02-20Howard David EofficerSale11,917 @ $88.00$1.0M−23.6% of holding−7.8%+10.0%38,609Form 4 · filed 1 day after the trade
2025-02-20Roe Scott A.officerSale11,430 @ $86.57$989K−6.6% of holding−7.8%+10.0%160,884Form 4 · filed 4 days after the trade

The vs-S&P columns are a labeled look-back on what the stock did after each filing, measured against the index over the same window. Descriptive history, not a claim about the person or a reason to trade.

214 award / exercise / gift records — not counted as purchases

Awards, option exercises, gifts and tax-withholding disposals are shown separately and never counted as open-market purchases or sales — they carry no conviction information.

DatePersonRoleActionSharesOwned afterFiling
2026-09-09Kulikowsky DeniseofficerWithheld for tax4,71916,417Form 4
2026-09-09Kulikowsky DeniseofficerOption exercise6,91026,946Form 4
2026-09-09Kulikowsky DeniseofficerOption exercise6,91013,820Form 4
2026-08-21Crevoiserat Joanne C.directorWithheld for tax112,790719,886Form 4
2026-08-21Crevoiserat Joanne C.directorAward / grant220,940848,789Form 4
2026-08-21Roe Scott A.officerWithheld for tax45,81999,861Form 4
2026-08-21Kahn ToddofficerWithheld for tax33,837122,240Form 4
2026-08-21Roe Scott A.officerAward / grant82,854151,793Form 4
2026-08-21Kahn ToddofficerAward / grant66,282160,512Form 4
2026-08-21Howard David EofficerWithheld for tax14,10038,505Form 4
2026-08-21Crevoiserat Joanne C.directorWithheld for tax8,112832,676Form 4
2026-08-21Crevoiserat Joanne C.directorWithheld for tax8,001840,788Form 4
2026-08-21Howard David EofficerAward / grant27,61956,235Form 4
2026-08-21Roe Scott A.officerWithheld for tax3,296145,680Form 4
2026-08-21Roe Scott A.officerWithheld for tax2,817148,976Form 4
2026-08-21Kahn ToddofficerWithheld for tax2,434156,077Form 4
2026-08-21Howard David EofficerWithheld for tax2,02952,605Form 4
2026-08-21Kahn ToddofficerWithheld for tax2,001158,511Form 4
2026-08-21Howard David EofficerWithheld for tax1,60154,634Form 4
2026-08-21Dadlani ManeshofficerWithheld for tax1,09916,061Form 4
2026-08-21Dadlani ManeshofficerWithheld for tax97617,160Form 4
2026-08-19Crevoiserat Joanne C.directorWithheld for tax21,050627,849Form 4
2026-08-19Crevoiserat Joanne C.directorWithheld for tax17,250648,899Form 4
2026-08-19Crevoiserat Joanne C.directorWithheld for tax6,512693,910Form 4
2026-08-19Crevoiserat Joanne C.directorOption exercise35,770670,131Form 4
2026-08-19Crevoiserat Joanne C.directorOption exercise30,291700,422Form 4
2026-08-19Howard David EofficerWithheld for tax3,25628,616Form 4
2026-08-19Roe Scott A.officerWithheld for tax2,64668,939Form 4
2026-08-19Kahn ToddofficerWithheld for tax1,95594,230Form 4
2026-08-19Howard David EofficerWithheld for tax1,62831,872Form 4
2026-08-19Kulikowsky DeniseofficerWithheld for tax1,08620,036Form 4
2026-08-19Dadlani ManeshofficerWithheld for tax88218,136Form 4
2026-08-19Crevoiserat Joanne C.directorOption exercise30,29130,292Form 4
2026-08-19Crevoiserat Joanne C.directorOption exercise35,77035,771Form 4
2026-08-18Crevoiserat Joanne C.directorWithheld for tax3,557634,361Form 4
2026-08-18Roe Scott A.officerWithheld for tax1,40271,585Form 4
2026-08-18Kahn ToddofficerWithheld for tax1,29496,185Form 4
2026-08-18Howard David EofficerWithheld for tax48833,500Form 4
2026-08-18Kulikowsky DeniseofficerWithheld for tax40421,122Form 4
2026-08-18Dadlani ManeshofficerWithheld for tax29819,018Form 4

Source: SEC Form 4 filings. Each row links to its original filing.

Across 2012–2021, stocks where a CEO, C-suite officer, or director had recently made an open-market common-stock purchase ran about +28 bp per month above the universe average (n=34,268 stock-weeks). A historical tendency, not a prediction.

Congressional disclosures iStock trades disclosed by members of Congress for this company, by the date they were filed.iDisclosures shown as facts. A purchase “cluster” (≥2 members of Congress filing a buy within 90 days) has historically preceded modestly higher forward returns — and it persisted out-of-sample, though it roughly halved after 2021 (see below). A descriptive historical tendency, not a signal to trade and not used in our forecast. See /methodology.

As of 2026-09-16 · point-in-time by filed date

Purchase clusters · 2015–2021 (dev)+45 bp/mo vs baseline · up-rate 59.3% vs 57.3% · n=31,607 cluster ticker-weeks
Purchase clusters · 2022–2026 (out-of-sample)+32 bp/mo vs baseline · up-rate 54.0% vs 53.3% · n=27,793

A cluster = ≥2 members of Congress filing a purchase within 90 days. The historical tilt persisted after 2021 but roughly halved (+45 → +32 bp/mo forward 1-month vs the S&P 500 weekly-grid baseline). Descriptive historical tendency — not a signal to trade, and not used in our forecast (audition-log 2026-07-27, recomputed 2026-09-08).

'23 Q'24 Q'24 Q'24 Q'24 Q'25 Q'25 Q'25 Q'26 Q'26 Q'26 Qpurchases ▲ / sales ▼ ($ vol)
MemberChamberTypeFiledTradedSize
Alan ArmstrongSenatepurchase2026-07-212026-03-27$1–15K
Matthew Robert Van EppsHousesale2026-06-172026-06-16$15–50K
Terri A. SewellHousesale2026-04-212026-03-25$15–50K
Julia LetlowHousesale2026-01-132025-07-29$1–15K
Julia LetlowHousesale2026-01-132024-11-26$1–15K
Julia LetlowHousepurchase2026-01-132024-10-23$1–15K
Michael T. McCaulHousesale2025-12-092025-11-14$50–100K
Michael T. McCaulHousesale2025-11-102025-10-22$100–250K
Michael T. McCaulHousesale2025-11-102025-10-27$15–50K
Michael T. McCaulHousesale2025-10-102025-09-26$50–100K
Michael T. McCaulHousesale2025-09-112025-08-27$15–50K
Michael T. McCaulHousesale2025-09-112025-08-22$50–100K
Michael T. McCaulHousesale2025-09-112025-08-22$50–100K
Michael T. McCaulHousesale2025-09-112025-08-27$15–50K

Research tool, not investment advice — historical frequencies, not recommendations. A product of Marovel Technologies LLC. Full terms.