Does the “Price per share” refer to the price the share was placed (after the discount) or to the price the share was traded at (prior to the discount)?
A. The “Term Used in Report” is the Offering Price. The “Excel Format Field Name” is PricePerShare. These are the same thing but with different labels for the Report and for the Excel file. When the restricted share is sold or issued it is done so at the PricePerShare level of price which is always less than the HighLowAverage of the actively traded stock in the same company. The PricePerShare is the price of the restricted stock. The HighLowAverage is the price of the actively traded stock in the market, not the restricted stock price. The proxy for the lack of marketability discount is calculated based on the percent difference between the restricted stock price and the actively traded HighLowAverage.
