William M Ashbaugh
Insider
First SEC filing: March 7, 2013 · Latest: March 7, 2013
Insider at
Insider transactions
0 buys (P)
0 sells (S)
Net: $0
Price change vs current quote, split-adjusted for corporate actions since the filing — not benchmarked, not annualized, not size-weighted
| Date | Ticker | Code | Shares | Price | Value | Owned after | Δ own | A/D | vs now |
|---|---|---|---|---|---|---|---|---|---|
| Nov. 15, 2017 | CSWC | F | 524 | $16.95 | $8,882 | 48,068 Direct | -1.08% | Disposed | 40.3% (price as of 2026-10-05) |
| Nov. 15, 2017 | CSWC | A | 5,000 | · | · | 48,068 Direct | +11.61% | Acquired | (price as of 2026-10-05) |
| Nov. 10, 2017 | CSWC | F | 1,049 | $16.99 | $17,823 | 43,592 Direct | -2.35% | Disposed | 39.9% (price as of 2026-10-05) |
| Nov. 15, 2016 | CSWC | P | 5,000 | · | · | 44,513 Direct | +12.65% | Acquired | (price as of 2026-10-05) |
| March 21, 2016 | CSWC | M | 1,991 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-05) |
| March 21, 2016 | CSWC | M | 3,983 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-05) |
| March 21, 2016 | CSWC | M | 1,991 | $7.36 | $14,654 | 39,513 Direct | +5.31% | Acquired | 223.0% (price as of 2026-10-05) |
| March 21, 2016 | CSWC | M | 3,983 | $7.36 | $29,315 | 37,522 Direct | +11.88% | Acquired | 223.0% (price as of 2026-10-05) |
| Nov. 10, 2015 | CSWC | A | 10,000 | · | · | 21,000 Direct | +90.91% | Acquired | (price as of 2026-10-05) |
| Oct. 14, 2015 | CSWC | D | 17 | · | · | 3,983 Direct | -0.43% | Disposed | (price as of 2026-10-05) |
| Oct. 14, 2015 | CSWC | D | 9 | · | · | 1,991 Direct | -0.45% | Disposed | (price as of 2026-10-05) |
| Oct. 14, 2015 | CSWC | D | 82 | · | · | 19,918 Direct | -0.41% | Disposed | (price as of 2026-10-05) |
| May 26, 2015 | CSWC | M | 3,433 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-05) |
| May 26, 2015 | CSWC | S | 3,433 | $51.03 | $175,186 | 11,000 Direct | -23.79% | Disposed | 26.9% (price as of 2026-10-05) |
| May 26, 2015 | CSWC | M | 3,433 | $19.18 | $65,845 | 14,433 Direct | +31.21% | Acquired | 237.7% (price as of 2026-10-05) |
| May 22, 2015 | CSWC | M | 650 | · | · | 3,433 Direct | -15.92% | Disposed | (price as of 2026-10-05) |
| May 22, 2015 | CSWC | S | 650 | $51.05 | $33,182 | 11,000 Direct | -5.58% | Disposed | 26.9% (price as of 2026-10-05) |
| May 22, 2015 | CSWC | M | 650 | $19.18 | $12,467 | 11,650 Direct | +5.91% | Acquired | 237.7% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 3,917 | · | · | 4,083 Direct | -48.96% | Disposed | (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 5,892 | · | · | 4,000 Direct | -59.56% | Disposed | (price as of 2026-10-05) |
| May 21, 2015 | CSWC | S | 9,809 | $51.11 | $501,338 | 11,000 Direct | -47.14% | Disposed | 26.7% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 3,917 | $19.18 | $75,128 | 20,809 Direct | +23.19% | Acquired | 237.7% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 5,892 | $23.37 | $137,696 | 18,892 Direct | +45.32% | Acquired | 177.1% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 1,917 | · | · | 6,083 Direct | -23.96% | Disposed | (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 7,892 | · | · | 4,000 Direct | -66.36% | Disposed | (price as of 2026-10-05) |
| May 21, 2015 | CSWC | S | 9,809 | $51.11 | $501,338 | 11,000 Direct | -47.14% | Disposed | 26.7% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 1,917 | $19.18 | $36,768 | 20,809 Direct | +10.15% | Acquired | 237.7% (price as of 2026-10-05) |
| May 21, 2015 | CSWC | M | 7,892 | $23.37 | $184,436 | 18,892 Direct | +71.75% | Acquired | 177.1% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 2,108 | · | · | 9,892 Direct | -17.57% | Disposed | (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 2,000 | · | · | 2,000 Direct | -50.00% | Disposed | (price as of 2026-10-05) |
| May 20, 2015 | CSWC | S | 4,108 | $51.53 | $211,685 | 11,000 Direct | -27.19% | Disposed | 25.7% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 2,108 | $23.37 | $49,264 | 15,108 Direct | +16.22% | Acquired | 177.1% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 2,000 | $23.37 | $46,740 | 13,000 Direct | +18.18% | Acquired | 177.1% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 108 | · | · | 11,892 Direct | -0.90% | Disposed | (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 4,000 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-05) |
| May 20, 2015 | CSWC | S | 4,108 | $51.53 | $211,685 | 11,000 Direct | -27.19% | Disposed | 25.7% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 108 | $23.37 | $2,524 | 15,108 Direct | +0.72% | Acquired | 177.1% (price as of 2026-10-05) |
| May 20, 2015 | CSWC | M | 4,000 | $23.37 | $93,480 | 15,000 Direct | +36.36% | Acquired | 177.1% (price as of 2026-10-05) |
| March 20, 2015 | CSWC | M | 2,000 | · | · | 4,000 Direct | -33.33% | Disposed | (price as of 2026-10-05) |
| March 20, 2015 | CSWC | M | 1,700 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-05) |
| March 20, 2015 | CSWC | S | 2,000 | $48.34 | $96,680 | 11,000 Direct | -15.38% | Disposed | 34.0% (price as of 2026-10-05) |
| March 20, 2015 | CSWC | M | 2,000 | $23.37 | $46,740 | 13,000 Direct | +18.18% | Acquired | 177.1% (price as of 2026-10-05) |
| March 20, 2015 | CSWC | S | 1,700 | $48.34 | $82,178 | 11,000 Direct | -13.39% | Disposed | 34.0% (price as of 2026-10-05) |
| March 20, 2015 | CSWC | M | 1,700 | $29.68 | $50,456 | 12,700 Direct | +15.45% | Acquired | 118.2% (price as of 2026-10-05) |
| March 19, 2015 | CSWC | M | 18,300 | · | · | 1,700 Direct | -91.50% | Disposed | (price as of 2026-10-05) |
| March 19, 2015 | CSWC | S | 1,000 | $48.66 | $48,660 | 11,000 Direct | -8.33% | Disposed | 33.1% (price as of 2026-10-05) |
| March 19, 2015 | CSWC | S | 17,300 | $48.19 | $833,687 | 12,000 Direct | -59.04% | Disposed | 34.4% (price as of 2026-10-05) |
| March 19, 2015 | CSWC | M | 18,300 | $29.68 | $543,144 | 29,300 Direct | +166.36% | Acquired | 118.2% (price as of 2026-10-05) |
| June 12, 2013 | CSWC | M | 384 | $93.49 | $35,900 | 2,134 Direct | +21.94% | Acquired | 177.1% (price as of 2026-10-05) |
| June 12, 2013 | CSWC | S | 384 | $139.65 | $53,626 | 1,750 Direct | -17.99% | Disposed | 85.5% (price as of 2026-10-05) |
| June 12, 2013 | CSWC | M | 384 | $93.49 | $35,900 | 2,134 Direct | +21.94% | Acquired | 177.1% (price as of 2026-10-05) |
| June 11, 2013 | CSWC | M | 1,094 | $93.49 | $102,278 | 2,844 Direct | +62.51% | Acquired | 177.1% (price as of 2026-10-05) |
| June 11, 2013 | CSWC | S | 1,094 | $138.47 | $151,486 | 1,750 Direct | -38.47% | Disposed | 87.1% (price as of 2026-10-05) |
| June 11, 2013 | CSWC | M | 1,094 | $93.49 | $102,278 | 2,844 Direct | +62.51% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 1,000 | $93.49 | $93,490 | 2,750 Direct | +57.14% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 200 | $93.49 | $18,698 | 1,950 Direct | +11.43% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 22 | $93.49 | $2,057 | 1,772 Direct | +1.26% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | S | 1,000 | $138.24 | $138,240 | 1,750 Direct | -36.36% | Disposed | 87.4% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 1,000 | $93.49 | $93,490 | 2,750 Direct | +57.14% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | S | 200 | $138.24 | $27,648 | 1,750 Direct | -10.26% | Disposed | 87.4% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 200 | $93.49 | $18,698 | 1,950 Direct | +11.43% | Acquired | 177.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | S | 22 | $139.20 | $3,062 | 1,750 Direct | -1.24% | Disposed | 86.1% (price as of 2026-10-05) |
| June 10, 2013 | CSWC | M | 22 | $93.49 | $2,057 | 1,772 Direct | +1.26% | Acquired | 177.1% (price as of 2026-10-05) |
| June 7, 2013 | CSWC | M | 400 | $93.49 | $37,396 | 2,150 Direct | +22.86% | Acquired | 177.1% (price as of 2026-10-05) |
| June 7, 2013 | CSWC | S | 400 | $140.23 | $56,092 | 1,750 Direct | -18.60% | Disposed | 84.7% (price as of 2026-10-05) |
| June 7, 2013 | CSWC | M | 400 | $93.49 | $37,396 | 2,150 Direct | +22.86% | Acquired | 177.1% (price as of 2026-10-05) |
| June 6, 2013 | CSWC | M | 1,400 | $93.49 | $130,886 | 3,150 Direct | +80.00% | Acquired | 177.1% (price as of 2026-10-05) |
| June 6, 2013 | CSWC | S | 1,400 | $140.93 | $197,302 | 1,750 Direct | -44.44% | Disposed | 83.8% (price as of 2026-10-05) |
| June 6, 2013 | CSWC | M | 1,400 | $93.49 | $130,886 | 3,150 Direct | +80.00% | Acquired | 177.1% (price as of 2026-10-05) |
| March 5, 2013 | CSWC | M | 2,000 | $93.49 | $186,980 | 3,750 Direct | +114.29% | Acquired | 177.1% (price as of 2026-10-05) |
| March 5, 2013 | CSWC | S | 2,000 | $123.79 | $247,580 | 1,750 Direct | -53.33% | Disposed | 109.3% (price as of 2026-10-05) |
| March 5, 2013 | CSWC | M | 2,000 | $93.49 | $186,980 | 3,750 Direct | +114.29% | Acquired | 177.1% (price as of 2026-10-05) |
| March 4, 2013 | CSWC | M | 1,000 | $76.74 | $76,740 | 2,750 Direct | +57.14% | Acquired | 237.6% (price as of 2026-10-05) |
| March 4, 2013 | CSWC | S | 1,000 | $124.08 | $124,080 | 1,750 Direct | -36.36% | Disposed | 108.8% (price as of 2026-10-05) |
| March 4, 2013 | CSWC | M | 1,000 | $76.74 | $76,740 | 2,750 Direct | +57.14% | Acquired | 237.6% (price as of 2026-10-05) |
| Dec. 18, 2012 | CSWC | S | 718 | $107.57 | $77,235 | 1,500 Direct | -32.37% | Disposed | 140.8% (price as of 2026-10-05) |
| Dec. 17, 2012 | CSWC | S | 2,500 | $105.99 | $264,975 | 2,218 Direct | -52.99% | Disposed | 144.4% (price as of 2026-10-05) |
| Dec. 14, 2012 | CSWC | S | 1,000 | $105.77 | $105,770 | 4,718 Direct | -17.49% | Disposed | 144.9% (price as of 2026-10-05) |
| June 19, 2012 | CSWC | S | 3,808 | $101.00 | $384,608 | 5,718 Direct | -39.97% | Disposed | 156.5% (price as of 2026-10-05) |
| June 18, 2012 | CSWC | S | 1,692 | $101.30 | $171,400 | 9,526 Direct | -15.08% | Disposed | 155.7% (price as of 2026-10-05) |
| June 15, 2012 | CSWC | S | 500 | $102.74 | $51,370 | 11,218 Direct | -4.27% | Disposed | 152.1% (price as of 2026-10-05) |
| May 18, 2012 | CSWC | M | 2,000 | $76.74 | $153,480 | 6,000 Direct | +50.00% | Acquired | 237.6% (price as of 2026-10-05) |
| May 18, 2012 | CSWC | M | 4,000 | $93.49 | $373,960 | 4,000 Direct | · | Acquired | 177.1% (price as of 2026-10-05) |
| May 18, 2012 | CSWC | M | 2,000 | $76.74 | $153,480 | 11,718 Direct | +20.58% | Acquired | 237.6% (price as of 2026-10-05) |
| May 18, 2012 | CSWC | M | 4,000 | $93.49 | $373,960 | 9,718 Direct | +69.95% | Acquired | 177.1% (price as of 2026-10-05) |
| Jan. 16, 2012 | CSWC | A | 1,250 | · | · | 6,968 Direct | +21.86% | Acquired | (price as of 2026-10-05) |
| Aug. 4, 2011 | CSWC | S | 1,500 | $94.00 | $141,000 | 500 Direct | -75.00% | Disposed | 175.6% (price as of 2026-10-05) |
| Aug. 4, 2011 | CSWC | M | 1,500 | $65.70 | $98,550 | 0 Direct | · | Acquired | 294.3% (price as of 2026-10-05) |
| Aug. 4, 2011 | CSWC | M | 1,500 | $65.70 | $98,550 | 2,000 Direct | +300.00% | Acquired | 294.3% (price as of 2026-10-05) |
| Dec. 22, 2010 | CSWC | M | 5,218 | $65.70 | $342,823 | 1,500 Direct | · | Acquired | 294.3% (price as of 2026-10-05) |
| Dec. 22, 2010 | CSWC | M | 5,218 | $65.70 | $342,823 | 5,218 Direct | · | Acquired | 294.3% (price as of 2026-10-05) |
| Aug. 18, 2010 | CSWC | M | 782 | $65.70 | $51,377 | 6,718 Direct | +13.17% | Acquired | 294.3% (price as of 2026-10-05) |
| Aug. 18, 2010 | CSWC | S | 782 | $91.56 | $71,600 | 0 Direct | -100.00% | Disposed | 182.9% (price as of 2026-10-05) |
| Aug. 18, 2010 | CSWC | M | 782 | $65.70 | $51,377 | 782 Direct | · | Acquired | 294.3% (price as of 2026-10-05) |
| March 22, 2010 | CSWC | A | 5,000 | $95.79 | $478,950 | 22,500 Direct | +28.57% | Acquired | 170.4% (price as of 2026-10-05) |
| Oct. 19, 2009 | CSWC | A | 5,000 | $76.74 | $383,700 | 17,500 Direct | +40.00% | Acquired | 237.6% (price as of 2026-10-05) |
| Dec. 3, 2008 | CSWC | A | 211 | $104.99 | $22,153 | 1,019 Indirect | +26.11% | Acquired | 146.7% (price as of 2026-10-05) |
| July 21, 2008 | CSWC | A | 5,000 | $118.70 | $593,500 | 5,000 Direct | · | Acquired | 118.2% (price as of 2026-10-05) |
| June 6, 2008 | CSWC | P | 250 | $117.50 | $29,375 | 500 Direct | +100.00% | Acquired | 120.5% (price as of 2026-10-05) |
| June 6, 2008 | CSWC | P | 250 | $118.00 | $29,500 | 250 Direct | · | Acquired | 119.5% (price as of 2026-10-05) |
Showing latest 100 of 119 transactions
P = Open-market purchase · S = Sale · A = Grant/award · M = Option exercise · G = Gift · F = Tax withholding
Insider transactions are not a recommendation; sales are often driven by liquidity or tax reasons.
Derivative holdings (Form 4 Table II) Options, RSUs and convertible securities reported on Form 4 Table II.
| Date | Ticker | Security | Underlying | Exercise price | Expiration | Shares | A/D |
|---|---|---|---|---|---|---|---|
| March 21, 2016 | CSWC | Non-qualified Stock Option | Common Stock | $7.36 | May 15, 2016 | 1,991 | Disposed |
| March 21, 2016 | CSWC | Incentive Stock Option | Common Stock | $7.36 | May 15, 2016 | 3,983 | Disposed |
| Oct. 14, 2015 | CSWC | Incentive Stock Option | Common Stock | · | May 15, 2016 | 17 | Disposed |
| Oct. 14, 2015 | CSWC | Non-qualified Stock Option | Common Stock | · | May 15, 2016 | 9 | Disposed |
| Oct. 14, 2015 | CSWC | Incentive Stock Option | Common Stock | · | March 22, 2020 | 82 | Disposed |
| May 26, 2015 | CSWC | Incentive Stock Options | Common Stock | $19.18 | Oct. 19, 2019 | 3,433 | Disposed |
| May 22, 2015 | CSWC | Incentive Stock Options | Common Stock | $19.18 | Oct. 19, 2019 | 650 | Disposed |
| May 21, 2015 | CSWC | Incentive Stock Options | Common Stock | $19.18 | Oct. 19, 2019 | 3,917 | Disposed |
| May 21, 2015 | CSWC | Incentive Stock Option | Common Stock | $23.37 | May 15, 2016 | 5,892 | Disposed |
| May 21, 2015 | CSWC | Incentive Stock Options | Common Stock | $19.18 | Oct. 19, 2019 | 1,917 | Disposed |
| May 21, 2015 | CSWC | Incentive Stock Option | Common Stock | $23.37 | May 15, 2016 | 7,892 | Disposed |
| May 20, 2015 | CSWC | Incentive Stock Option | Common Stock | $23.37 | May 15, 2016 | 2,108 | Disposed |
| May 20, 2015 | CSWC | Non-qualified Stock Option | Common Stock | $23.37 | May 15, 2016 | 2,000 | Disposed |
| May 20, 2015 | CSWC | Incentive Stock Option | Common Stock | $23.37 | May 15, 2016 | 108 | Disposed |
| May 20, 2015 | CSWC | Non-qualified Stock Option | Common Stock | $23.37 | May 15, 2016 | 4,000 | Disposed |
| March 20, 2015 | CSWC | Non-qualified Stock Option | Common Stock | $23.37 | May 15, 2016 | 2,000 | Disposed |
| March 20, 2015 | CSWC | Non-qualified Stock Option | Common Stock | $29.68 | July 21, 2018 | 1,700 | Disposed |
| March 19, 2015 | CSWC | Non-qualified Stock Option | Common Stock | $29.68 | July 21, 2018 | 18,300 | Disposed |
| June 12, 2013 | CSWC | Non-Qualifying Stock Option [F1] | Common Stock | $93.49 | May 15, 2017 | 384 | Acquired |
| June 11, 2013 | CSWC | Non-Qualifying Stock Option [F1] | Common Stock | $93.49 | May 15, 2017 | 1,094 | Acquired |
| June 10, 2013 | CSWC | Non-Qualifying Stock Option [F1] | Common Stock | $93.49 | May 15, 2017 | 1,000 | Acquired |
| June 10, 2013 | CSWC | Incentive Stock Option [F2] | Common Stock | $93.49 | May 15, 2016 | 200 | Acquired |
| June 10, 2013 | CSWC | Non-Qualifying Stock Option [F1] | Common Stock | $93.49 | May 15, 2017 | 22 | Acquired |
| June 7, 2013 | CSWC | Incentive Stock Option [F1] | Common Stock | $93.49 | May 15, 2016 | 400 | Acquired |
| June 6, 2013 | CSWC | Incentive Stock Option [F1] | Common Stock | $93.49 | May 15, 2016 | 1,400 | Acquired |
| March 5, 2013 | CSWC | Non-Qualifying Stock Option [F1] | Common Stock | $93.49 | May 15, 2017 | 2,000 | Acquired |
| March 4, 2013 | CSWC | Incentive Stock Option [F1] | Common Stock | $76.74 | Oct. 19, 2019 | 1,000 | Acquired |
| May 18, 2012 | CSWC | Incentive Stock Option [F2] | Common Stock | $76.74 | Oct. 19, 2019 | 2,000 | Acquired |
| May 18, 2012 | CSWC | Incentive Stock Option [F1] | Common Stock | $93.49 | May 15, 2016 | 4,000 | Acquired |
| Aug. 4, 2011 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 28, 2011 | 1,500 | Acquired |
| Dec. 22, 2010 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 28, 2011 | 5,218 | Acquired |
| Aug. 18, 2010 | CSWC | Incentive Stock Option [F2] | Common Stock | $65.70 | Aug. 28, 2011 | 782 | Acquired |
| March 22, 2010 | CSWC | Incentive Stock Option [F1] | Common Stock | $95.79 | March 22, 2020 | 5,000 | Acquired |
| Oct. 19, 2009 | CSWC | Incentive Stock Option [F1] | Common Stock | $76.74 | Oct. 19, 2019 | 5,000 | Acquired |
| July 21, 2008 | CSWC | Non-qualified Stock Option [F1] | Common Stock | $118.70 | July 21, 2018 | 5,000 | Acquired |
| May 10, 2007 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 27, 2011 | 2,000 | Disposed |
| Dec. 14, 2006 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 27, 2011 | 3,500 | Disposed |
| Nov. 28, 2006 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 27, 2011 | 1,000 | Disposed |
| Nov. 28, 2006 | CSWC | Incentive Stock Option [F1] | Common Stock | $65.70 | Aug. 27, 2011 | 1,000 | Disposed |
| May 15, 2006 | CSWC | Non-qualified Stock Option [F2] | Common Stock | $93.49 | May 15, 2016 | 10,000 | Acquired |
| May 15, 2006 | CSWC | Incentive Stock Option [F1] | Common Stock | $93.49 | May 15, 2016 | 5,000 | Acquired |
Exercise/conversion price is blank when not applicable (e.g. RSUs).
Compensation (DEF 14A)
Matched by name from proxy statements (DEF 14A) — verify against the filing.
| Fiscal year | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension change | Other | Total |
|---|---|---|---|---|---|---|---|---|
| 2012 | · | · | · | · | · | · | · | · |
| 2011 | · | · | · | · | · | · | · | · |
| 2010 | · | · | · | · | · | · | · | · |
Figures from the Summary Compensation Table of the company's proxy statement (DEF 14A). Compensation is not a recommendation.