Ann: Change of Director's Interest Notice, page-6

SW: I think RF's share purchases are intended to send an "all goes well" message to the market and shareholders. Mere pocket change for him and what he will make from a couple more million shares/save on taxes is less than insignificant--the "message" being the objective. A quick call to his own investment team and message sent. In contrast, I read absolutely nothing into the SR share sales. Certainly, he isn't living from paycheque to paycheque, but neither is he a billionaire. I assume others also are managing his money and that periodic sales, related strictly to his own tax situation, is what such sales are all about--totally delinked from sending a message/company intel and all about his taxes.