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Retirekit Glossary E


E


Early Withdrawal Penalty
The dollar amount of interest or principal forfeited because of early withdrawal of a fixed-term investment. This is not to be confused with the 10% excise tax applicable to certain retirement distributions prior to reaching age 59 1/2.

Earnings Per Share (TTM)
This is the trailing 12-month total (TTM) earnings divided by the average diluted shares outstanding for the trailing 12 months.

Effective Date
The date an annuity exchange order was executed.

Effective Yield
In the context of a secondary bond trade, the effective yield is inclusive of the quoted price plus the total cost (or markup) of the transaction.

Example: A bond may be quoted with an Ask Price of 101.00 and a corresponding Ask Yield of 5.60%. If the concession per bond were $2 per bond, the total concession for 10 bonds would be 10 X $2 = $20. Expressed at a per bond level, the price will rise to 101.20 per bond, and the corresponding yield for that price would be known as the Effective Yield. The Effective Yield will be lower than the originally quoted, pre-concession, yield although how much lower depends on factors such as the coupon and the time remaining until maturity of the bond in question.

83(b) Election
An IRS tax code stipulating that a recipient of a Restricted Stock Award may elect, within 30 days of the award grant, to include in his/her gross income the fair market value of the shares on the date of the award grant. Choosing not to make this election subjects the shares to being reported as income when they vest.

Electronic Communications Network (ECN) Extended Hours Orders
An ECN is essentially an electronic order matching system in which investors and other market participants may participate.

The ECN in which Fidelity participates may be linked to other ECNs which will increase the potential for an order to be matched. You can place orders through the ECN using the Extended Hours trading sessions, the Premarket and the After Hours session.
ECN orders for the Premarket session can be placed from 7:30 to 9:15 a.m. Eastern Time. ECN orders can only be executed after 8 a.m. Eastern Time. Orders entered between 7:30 and 8:00 a.m. Eastern Time are queued at Fidelity based on the time received. At 8:00 a.m., Fidelity transmits orders to the ECN and the transmitted orders are queued at REDIBook according to the time received and the specified limit price.
After 8 a.m. Eastern Time, Fidelity continues to send Premarket trade orders to the ECN in the order in which Fidelity receives them until 9:15 a.m. Eastern Time, unless trading is halted prior to 9:15 a.m.
Orders in the After Hours session can be placed from 4 to 8 p.m. Eastern Time. ECN orders can only be executed after 4:30 p.m. Eastern Time. Orders entered between 4:00 and 4:05 p.m. Eastern Time are queued at Fidelity based on the time received. Between 4:05 and 4:30 p.m., Fidelity transmits orders to the ECN and the transmitted orders are queued at REDIBook according to the time received and the specified price.
After 4:30 p.m. Eastern Time, Fidelity continues to send After Hours trade orders to the ECN in the order in which Fidelity receives them until 8 p.m. Eastern Time, unless trading is halted prior to 8 p.m.
You must have a Fidelity Brokerage® account to place an order during the Premarket or After Hours session.
Limit orders to buy and sell stocks are matched electronically, if the potential for a matched transaction exists. The ECN will operate during regular trading hours and during the Premarket and After Hours sessions. However, you can only enter orders through Fidelity for execution via the ECN during Extended Hours trading sessions.
In the Extended Hours Trading sessions, you can trade all NASDAQ (National Market and SmallCap) and listed securities.
If a stock that normally trades on the ECN closes on a trading halt in its primary market, or trading is later halted by its primary exchange or a regulatory authority, trading of that stock will also be suspended on the ECN.
Extended Hours trading will be available through the ECN via Fidelity’s Web site. It will not be available through Fidelity’s automated telephone service, other online services, or through Fidelity representatives. Premarket and After Hours quotes obtained from Fidelity.com will only reflect the prices available in REDIBook. Commissions will be the usual Web-based commissions.
Once you place a limit order into the ECN, the order will be matched on a first come, first served basis, at the price you specify.

Electronic Funds Transfer Purchase
This is a transfer of cash from a bank account:


  • to purchase mutual fund shares in a mutual fund account

  • to transfer cash to the brokerage Core account

  • to make a deposit to a College Savings Plan account and purchase units of a portfolio (e.g., Unique Portfolio 2015, DE Portfolio 2018) in the account


For Fidelity IRAs, you can use the Electronic Funds Transfer service to transfer money from a bank account to make an annual IRA contribution to the IRA.
For Fidelity Brokerage® IRAs, all transfers go into the Core account.
This service is not available for Fidelity NetBenefits® and BrokerageLink accounts.
For specific information account contribution limits, use the IRA Evaluator which can be accessed by selecting Investment Products >> Retirement option.
For information about or assistance with setting up or using Electronic Funds Transfer, call a Fidelity representative at 800-544-6666.

Electronic Funds Transfer Redemption
For a mutual fund account, this is a transfer of the proceeds from the sale of mutual fund shares to your bank account. For a brokerage account, this is transferring money from the Core account to your bank account. For PAS accounts, this is the transfer of proceeds from the sale of assets within your portfolio to your bank account.

Note:This service is not available for Fidelity NetBenefits®, BrokerageLink, and College Savings Plan accounts.
To request an online distribution from a Fidelity IRA, select Accounts and Trade >> Portfolio and choose Transfer Money/Shares from the Action Selector next to the desired IRA account.
Request distributions from Keogh accounts with a single withdrawal request form found on the Customer Service tab on Fidelity.com or call a Fidelity representative at 800-544-6666.
For information about or assistance with setting up or using Electronic Funds Transfer, call a Fidelity representative at 800-544-6666.

Electronic Funds Transfer Service
A service for brokerage and mutual fund accounts including eligible retirement and non-retirement accounts and also for College Savings Plan accounts. This service is not available for Fidelity NetBenefits® and BrokerageLink accounts.

The Electronic Funds Transfer service for non-retirement accounts:


  • For brokerage accounts, allows you to transfer money between your Fidelity brokerage account and bank account

  • For eligible mutual fund and PAS accounts, allows you to transfer money from your bank account that is used to fund your Fidelity Account or to transfer the proceeds from a sale to a bank account


The Electronic Funds Transfer service for College Savings Plan accounts allows you to transfer money from your bank account that is a deposit to your College Savings Plan account. The transferred money is used to buy additional units in a portfolio (e.g., Unique Portfolio 2015, DE Portfolio 2018) in the account.
Note that for College Savings Plan accounts you can only transfer from your bank account and to your College Savings Plan account.
The Electronic Funds Transfer service for Traditional IRAs and Roth IRAs:

  • For brokerage IRAs, allows you to transfer money from your bank account to make an annual IRA contribution to your Core account within your brokerage IRA

  • For eligible mutual fund IRAs, allows you to transfer money from your bank account to make a contribution to and purchase mutual fund shares in your Fidelity mutual fund IRA
    Note: To request an online distribution from a Fidelity IRA, select Accounts and Trade >> Portfolio and choose Transfer Money/Shares from the Action Selector next to the desired IRA account.
    Request a distribution from a Keogh account with a single withdrawal request form found on the Customer Service tab on Fidelity.com or call a Fidelity representative at 800-544-6666.

  • Effective January 1, 2002, annual IRA contribution limits have increased for the 2002 tax year and beyond. For specific information, you can use the IRA Evaluator which can be accessed by selecting Investment Products >> Retirement option.


For information about or assistance with setting up or using Electronic Funds Transfer, call a Fidelity representative at 800-544-6666.

Eligible for Credit Adjustment
Fidelity provides an annual credit adjustment on substitute payments received when a security has been loaned from a margin account with a margin debit balance over record date. The credit adjustment is applied at a rate of 30.77%, which assumes a substitute payment is taxed at the highest federal ordinary income tax rate of 35% and that a qualified dividend would be taxable at the highest federal capital gains tax rate of 15%. Since the credit adjustment itself is taxable, it contains an internal adjustment on itself. Note that all substitute payments received are not eligible for credit adjustments and certain substitute payments that currently qualify for a credit adjustment could be disqualified after the annual dividend reclassification process takes place in January 2005.

Eligible Positions
An option available on the Transfer Shares screen. Select this option to display all positions and their eligible shares and value available for transfer from the selected source account.

Eligible Shares
The shares eligible for transfer to another account.

Not all shares in a position may be eligible for transfer. Shares that are not yet settled, are restricted, or held short are not eligible for transfer.

E-Mail Address/Pager Pin
When entering an indication of interest in a new issue, fixed-income offering (e.g., a bond), this is the method by which you will be notified with any updates regarding the offering such as pricing, date and time period to confirm (if applicable), and when securities are allocated.

This method is supplied using information you enter when you sign up for Fidelity Alerts.

Emerging Market
A securities market that is of smaller size or that has a short operating history, for example, Greece, Russia, China, and Brazil.

Employee Stock Purchase Plan
A plan offered by an employer according to which employees have the opportunity to purchase the company’s stock, usually at a discounted price, through after tax payroll deductions.

Employee Stock Purchase Plan may also refer to the contractual document between an employer and employee that sets forth the rights and obligations of the Plan.

Encryption
A procedure used to convert information to a format that seeks to prevent anyone except for the intended recipient from reading the information (e.g., sending a message in code).

Ending Values
On the Historical Analysis screen, the ending value dollar amounts were calculated using the current net worth of the account(s) you have selected and then analyzing how that amount would have performed in a sample “diversified” portfolio made up of the same asset mix (stocks, bonds, and short term) as your actual holdings.

Note: Past performance is no guarantee of future returns.

EPS
The Earnings Per Share (EPS) for a security, the net income available for the common stock divided by the number of outstanding shares.

EPS Growth Rate (%)
In a Company Profile, this growth rate is the compound annual growth rate of earnings per share (EPS) excluding extraordinary items and discontinued operations over the last 1, 3, or 5 years.

EPS Percent Change, Most Recent Quarter vs. Quarter 1 Year Ago (%)
This is the most recent quarterly earnings per share (EPS) minus the preceding quarterly EPS divided by the EPS for the preceding quarter, multiplied by 100.

EPS Percent Change, TTM vs. TTM 1 Year Ago (%)
This is the percent change in the trailing 12 month (TTM) earnings per share (EPS) compared to the same trailing 12 month period 1 year ago.

Equity
This refers to the assets held in an account. Equity includes any long market value and credit balance, minus any liabilities, and includes any short market value and debit balances.

Equity Buying Power
Refer to the new name for this field, Margin Buying Power, for more information.

Equity Compensation Plan
Refer to Stock Compensation Plans.

Equity Foreign vs. Domestic
This is a section on the Graphical View screen. This section shows the percentage of your holdings that are classified as equities that are invested in U.S. vs non-U.S. (foreign).

The percentages include the holdings in your portfolio or the one or more accounts you select. This includes underlying securities in your mutual funds.

Equity Foreign vs. Domestic Holdings Detail
This is a section on the Holdings Detail screen. This section shows dollar values for each of your U.S. vs non-U.S. holdings that are classified as equities. All dollar amounts are as of the date and time shown on the Control Panel.

The dollar amounts include the holdings in your portfolio or the one or more accounts you select. This includes underlying securities in your mutual funds.

Escrow (Esc.) to Maturity
This refers to municipal bonds for which payment to bondholders is secured in an escrow fund, typically consisting of direct U.S. government obligations, in an amount sufficient to pay the principal and interest for an issue at maturity.

On the fixed-income security (e.g., bond) details screen, Yes displays if payment to bondholders is secured in escrow. Otherwise, No displays.

Escrowed to Maturity
Escrowed-to-maturity (ETM) bonds are backed by escrow funds designed to make payments as outlined in the security’s original indenture. The funds in the escrow account are used to pay the periodic coupon payments and the principal of the ETM. Typically, the escrowed funds set aside for the ETM are invested in short-term, low-risk debt securities.

ESPP Purchase Date FMV
The fair market value of one share of stock on the date the purchase was made through an Employee Stock Purchase Plan.

ESPP Purchase Price
The price paid per share for stock purchased through an Employee Stock Purchase Plan, as defined under plan rules. This discounted price is determined by the rules of the plan.

Estimated Annual Income
An estimate of annual income from a specific fixed income security position over the next rolling 12 months, also referred to as EAI. EAI is calculated for the following securities: fixed rate bonds (including treasury, agency, GSE, corporate, and municipal bonds), and Certificates of Deposit (CDs). EAI is not calculated for the following types of bonds: step-up, floating rate, variable rate, discount, zero coupon, factored, mortgage-backed, bonds with an inflation factor or Unit Investment Trusts.

EAI is calculated using the following formula: Face Value x Coupon. Example: For a bond with $1,000 Face Value and a 5% Coupon, the calculation is $1000 x .05 = $50.

Estimated Annual Interest Payment
The amount of interest the security will pay in a calendar year. Depending on the security and the issuer, payments could be made monthly, quarterly, semi-annually or annually.

Estimated Annual Principal Amount
The estimated annual principal payment you are scheduled to receive from the issuer of the bond. This usually happens on the maturity date. However, if the bond is callable you may receive your principal earlier than the maturity date.

Estimated Cash Proceeds
An estimate of the proceeds from an exercise and sell order. This estimate shows all proceeds after any estimates for costs or taxes are deducted.


  • For an exercise and sell order for incentive stock options, an estimate of the proceeds after the estimates for the cost to exercise (e.g., commissions and fees) is deducted

  • For an exercise and sell order for non-qualified stock options, an estimate of the proceeds after the estimates for the exercise cost, total taxes (e.g., federal and state income taxes), and the cost to exercise (e.g., commissions and fees) are deducted

Estimated Commission
The estimated amount you will pay on the order you just placed. The actual commission is assessed when the order is executed. How fees and commissions are assessed depends on a variety of factors. For more information, see the Brokerage Commission & Fee Schedules at Investment Products > Trading. The actual commission is assessed when the order is executed. How fees and commissions are assessed depends upon a variety of factors. For more information, please see the Brokerage Commission & Fee Schedules page under Investment Products > Trading.

Estimated Concession
An estimation of the additional markup or markdown that will be added to the cost of a fixed income securities trade. A concession is the per-bond markup or markdown on a fixed income trade, as opposed to an agent commission.

Estimated Cost
The estimated cost of the bonds, including accrued interest, for the bonds that make up a particular rung in a ladder.

Estimated Exercise Cost
This is an estimate of the cost of exercising your stock options. Exercise cost is calculated by multiplying the grant price by the number of stock options you are exercising. Exercise cost does not include tax withholding or any fees or commissions that may apply.

Estimated Fair Market Value Per Share
The fair market value divided by the number of RSA shares or units you own. Fair market value is the value of the shares when they vest and you receive the proceeds, as specified in your RSA agreement and as used to determine the amount of income treated as compensation for Federal income tax purposes. Fair market value is based on prior business day’s close, average high and low for the day, real-time price, or today’s close.

Estimated Fair Market Value Per Unit
The fair market value divided by the number of RSUs you own. Fair market value is the value of the units when they vest and you receive the proceeds, as specified in your RSU agreement and as used to determine the amount of income treated as compensation for Federal income tax purposes. Fair market value is based in prior business day’s close, average high and low for the day, real-time price, or today’s close.

Estimated Gain
An estimate of the gain you may receive and taxes you may owe on an accepted Restricted Stock Award (RSA) on its vesting date.

Estimated Gross Sale Proceeds
This is an estimate of the proceeds from an exercise and sell order. This estimate shows all proceeds before any estimates for costs or taxes are deducted.


  • For an exercise and sell order for incentive stock options, this is an estimate of the proceeds before the estimate for the cost to exercise (e.g., commissions and fees) is deducted

  • For an exercise and sell order for non-qualified stock options, this is an estimate of the proceeds before the estimates for the exercise cost, total taxes (e.g., federal and state income taxes), and the cost to exercise (e.g., commissions and fees) are deducted


Actual gross sale proceeds at time of order execution may be different.

Estimated Interest Amount
The estimated amount you are scheduled to receive on your next interest payment from the issuer of the bond.

Estimated Liquid Net Worth
Refers to cash and any assets easily converted to cash, such as money market fund shares, U.S. Treasury bills, and bank deposits. Your liquid net worth is also referred to as your liquid assets.

Estimated Monthly Payment
The amount that will be paid based on the number of shares currently owned, not including any open orders. Additional purchases will increase the monthly payments, while redemptions will decrease the monthly payments.

Estimated Net Cash Proceeds
This is an estimate of the proceeds from an exercise and sell order. This estimate shows all proceeds after any estimates for costs or taxes are deducted.


  • For an exercise and sell order for incentive stock options, this is an estimate of the proceeds after the estimate for the cost to exercise (e.g., commissions and fees) is deducted

  • For an exercise and sell order for non-qualified stock options, this is an estimate of the proceeds after the estimates for the exercise cost, total taxes (e.g., federal and state income taxes), and the cost to exercise (e.g., commissions and fees) are deducted.


Actual net cash proceeds at time of order execution may be different.

Estimated Net Worth
Refers to the amount by which assets (excluding residence) exceed liabilities. For example, an individual’s net worth is the total of all assets (excluding residence) such as stocks, bonds, and other securities minus all outstanding debts such as revolving credit loans.

Estimated Number of Options to Exercise
The estimated number of options that must be exercised and shares sold to acquire the dollar amount that you entered as the Cash Proceeds Desired. The calculation is made based on the grant price and stock price that you entered in the calculator.

Estimated # of Shares Purchased from Company Matching Contributions
The estimated number of shares to be purchased in an Employee Stock Purchase Plan in the selected offering period with funds from your employer’s matching contributions. This amount is calculated as:

Total Company Contribution/Estimated ESPP Purchase Price.

Estimated Number of Shares Purchased from Employee Contributions
The estimated number of shares to be purchased in an employee stock purchase plan in the selected offering period with funds from your payroll deduction contributions. This amount is calculated as:

Total Employee Contribution/Estimated ESPP Purchase Price.

Estimated Principal Amount
The estimated principal payment you are scheduled to receive from the issuer of the bond. This usually happens on the maturity date. However, if the bond is callable you may receive your principal earlier than the maturity date.

Estimated Purchase
An option available on the Estimate Purchase screen that enables you to view the details of an estimated purchase of company stock during a specific offering period of your Employee Stock Purchase Plan.

Estimated Residual Balance After Purchase
The estimated dollar amount remaining in an employee stock purchase plan after the purchase for an offering period.

Estimated Results for Cash Proceeds Desired
This is a section that displays on the Stock Option Calculator when you select Cash Proceeds Desired as the calculation method. This section includes the following resulting estimates of your calculation, in order from top to bottom:

Estimated Results for Exercise & Hold Order
This is a section that displays on the Stock Options Calculator when you calculate the hypothetical proceeds from exercising options. This section includes the following resulting estimates of your calculation, in order from top to bottom:

Estimated Results for Exercise & Sell Order
This is a section that displays on the Stock Options Calculator when you calculate the hypothetical proceeds from exercising options. This section includes the following resulting estimates of your calculation, in order from top to bottom:

Estimated Share Proceeds
This is an estimate of the proceeds from an exercise and hold order. This estimate shows all proceeds before any estimates for costs or taxes are deducted.


  • For an exercise and sell order for incentive stock options, this is an estimate of the proceeds before the estimate for the cost to exercise (e.g., commissions and fees) is deducted

  • For an exercise and sell order for non-qualified stock options, this is an estimate of the proceeds before the estimates for the exercise cost, total taxes (e.g., federal and state income taxes), and the cost to exercise (e.g., commissions and fees) are deducted.


Actual share proceeds at time of order execution may be different.

Estimated Stock Plan Purchase Price
The estimated price for one share of stock purchased through an employee stock purchase plan. This amount represents the amount paid for the stock, minus any discount allowed by the plan (if applicable). Refer to your plan’s rules for plan purchase calculations.

Estimated Taxable Equivalent Yield
For municipal bonds, this is an estimate for the interest rate that must be recovered on a taxable security to provide the same after-tax return as that earned from a tax-exempt investment.

The actual taxable equivalent yield for the security may be different.

Estimated Taxable Income
This is an estimate of the income on which you would pay ordinary income tax after an exercise and sell or an exercise and hold order for non-qualified stock options executes. It is also an estimate of the income tax on which you would pay ordinary income tax after vesting in a restricted stock award (RSA).

Actual taxable income at time of order execution may be different.

Estimated Taxes
An estimate of the income tax that would be withheld when an exercise and sell or an exercise and hold order for non-qualified stock options executes. Actual taxes at time of order execution may be different. This may also describe an estimate of the taxes due when your restricted stock awards (RSAs) vest.

Estimated Tax Withholding
Estimated amount of the tax withholding due when your restricted stock awards vest. This value is calculated using the previous business day’s closing price and the tax rates provided by your employer (if any).

Estimated Total Cost
This is an estimate of the total cost of exercising stock options that would be deducted from the proceeds when an exercise and hold order executes. This estimate is the total of the estimated exercise cost plus the estimated tax amount.

Actual total cost at time of order execution may be different.

Estimated Total Cost to Exercise
Includes the costs of all commissions or fees, tax withholding, and the exercise cost (grant price multiplied by the number of stock options you are exercising) payable when an order to exercise stock options executes. The actual total cost to exercise at the time of order execution may be different.

Estimated Total Gain from Purchase
The estimated dollar gain (or loss) that would result under your employee stock purchase plan if all the shares accumulated in the selected offering period were sold. The amount is calculated as follows:

Estimated Total Gain from Purchase = number of shares purchased (current market price) – (number of shares purchased * estimated purchase price)
Refer to your plan’s rules for how gains may be calculated.

Estimated Total Options Outstanding Value
This is an estimate of the total value of the number of options that have not been exercised including options that are vested and unvested.

Estimated Total Tax Withholding
This is an estimate of the income tax that would be withheld when an exercise and sell or an exercise and hold order for non-qualified stock options executes. Actual taxes withheld at time of order execution may be different.

Estimated Total Value of Exercisable Rights
The estimated value of your exercisable rights across all of your stock appreciation rights grants. This value is calculated using the last market closing price for the stock minus the grant price, multiplied by the total exercisable rights (or zero if greater). Actual value at exercise may vary.

Estimated Total Value of Rights
The estimated value of your unexercised rights across all of your appreciation rights grants. This value is calculated using the last market closing price for the stock minus the grant price, multiplied by the total rights including those that are and are not exercisable. Actual value at exercise may vary.

Estimated Unvested Options
This is an estimate of the number of stock options from those originally granted that have not been held long enough for you to have right of ownership and that are not yet available for exercise.

Estimated Value
An estimate of the value of your restricted stock awards. This value is calculated using the previous business day’s closing price.

Estimated Value of Options Outstanding
This is an estimate of the total value of the number of options that have not been exercised, both are vested and unvested stock options.

This value is calculated by multiplying the market price for the underlying stock as of the prior trading day’s close by the total number of vested and unvested options outstanding.

Estimated Withdrawal Amount
An estimate of the proceeds from an IRA distribution when selling all shares in a mutual fund position from an eligible mutual fund IRA.

The estimated amount is less any applicable fees and based on the total estimated value of the shares to be sold as of the fund’s last available closing price.

Estimated YTM
An estimated yield to maturity rate of return an investor may receive on a bond if the bond is held to its maturity date.

When looking up bond symbols, this field is used to enter search criteria and it has two parts:


  • a qualifier (equals, less than or equal to, or greater than or equal to)

  • the date

Estimation of Future Transfer
This is a field on the Electronic Funds Transfer: Electronic Funds Transfer Setup screen. In this field, select a dollar range that you may commonly use when transferring funds using the Fidelity Electronic Funds Transfer service. This amount is used for one-time online account authentication only and does not initiate a transfer between Fidelity and your bank accounts.

Evaluation Point
The number of days prior to expiration or at expiration used to evaluate your strategy.

Event risk
The risk that an event such as a natural or industrial disaster, a takeover or a corporate restructuring could have an adverse effect on the price of a security.

Exchange
The trading exchange (e.g., New York Stock Exchange) where a security is primarily traded.

Exchange Ask

The lowest price a dealer or market maker will accept for a security.

Exchange Bid
The highest price a prospective buyer would pay for a unit of the security (or underlying security).

Exchange by Reallocation
An exchange of investment options within an annuity that affects the distribution of investment options across the entire contract.

Exchange Call
The amount by which the margin equity in the account has fallen below the NYSE minimum requirement (currently, 25%). Generally, exchange calls must be met (money added to the account to bring the margin equity up to the minimum required) within 48 hours, but Fidelity may cover the call at any time. If the amount of margin equity in the account is above the minimum requirement, this value will instead be reflected as an exchange surplus (also known as NYSE Surplus).

Exchange Confirmation
Notification from Fidelity that your annuity exchange order has been executed.

The confirmation lists the details of the order and an order confirmation number.
Select Print from your browser’s File menu to print a confirmation screen.
Note:Fidelity will also send you a paper confirmation through the U.S. mail after an order has executed.

Exchange Positions
This refers to the exchange of assets from one annuity investment option to one or more investment options. This also refers to changing the current percentage allocation of an annuity portfolio.

Exchange Surplus
The amount of margin equity in the account above the NYSE minimum requirement (currently, 25%). Also known as NYSE Surplus. If the margin equity in the account falls below 25%, this value will instead be reflected as an exchange call.

Exchange to Symbol
For a mutual fund exchange, this is the symbol for the mutual fund in which you want to buy shares.

Excluded
Excluded bonds are those secondary bond offerings that would normally be filtered out from being displayed on Fidelity.com. They are filtered out because they have failed the Price Test beyond the level that identifies a bond as an Other offering. That means they are priced from 2.6% to 10% away from the last closing price reported by our third-party pricing vendor.

Ex-Dividend
Refers to the interval between the announcement and the payment of the next dividend. An investor who buys shares of a stock or mutual fund on the ex-dividend date or after is not entitled to the dividend.

Ex-Dividend Date
The date on which a stock goes ex-dividend.

Exercisable
The total quantity of rights, grants, options, or securities for which you are vested and have the right to exercise. On Stock Appreciation Rights (SAR) screens, the Summary screen displays the total exercisable amount across all of your grants. The Summary | Vesting Schedule and Details screen displays two exercisable balances: the total quantity, and the total estimated current value of that quantity.

Exercisable Options
The number or current estimated dollar value of stock options for which you are vested or have the right of ownership and that are eligible for exercise, either for a single stock option grant or across all of your grants.

Exercisable Rights
Across all of your stock appreciation rights grants, the total number of vested rights which you own and which are eligible for exercise.

Exercise
The purchase of stock granted through an employee stock option plan.

Exercise and Hold
A form of stock option exercise in which you exercise your option to acquire shares of your company stock and hold the stock. When you do this, you need to have funds available* to pay the exercise cost and required tax withholding (if applicable).

* Funds must be available through cash on deposit or you must be approved for margin to borrow against other securities in your stock option brokerage account.

Exercise and Sell
A form of stock option exercise in which you exercise your option to acquire shares of your company stock and sell the stock immediately. The cash proceeds from the sale are used to pay the exercise cost, required tax withholding, and brokerage commissions and fees. This form of exercise does not require you to provide cash for the exercise

Exercise Cost
The cost of exercising your stock options. Exercise cost is calculated by multiplying the grant price by the number of stock options you are exercising. Exercise cost does not include tax withholding or any fees or commissions that may apply.

Exercise Cost Due
This is the total amount that is due to pay for stock options you have just exercised. Also, refer to exercise cost.

Exercise Date
The date on which you elect to exercise your options, or the date you used your options to buy shares of the underlying security.

Exercise Order Date
This is the date on which your order to exercise stock options was placed, and not the settlement date of transactions associated with your option exercise.

Exercise Price
This is the price per share which you must pay to the issuer to exercise the option. The exercise price is usually set at the fair market value of the company’s stock on the date of grant. Also called the Grant Price.

Expected Coupon
For new issue fixed-income securities (e.g., bonds), this is an estimate for the coupon interest rate the issuer will pay until maturity.

The actual coupon set for the security may be different.

Expected Issue Size
For a new issue fixed-income security (e.g., bonds) offering, this is the total dollar amount that the issuer would like to receive from the offering.

The actual dollar value for the offering may be different after the offering is priced.

Expected Order Period
For new issue fixed-income securities (e.g., bonds), this is the expected start and end date that define the period during which you can place an order for a new issue offering.

The actual order period for the offering may be different.

Expected Price
For new issue fixed-income securities (e.g., bonds), this is an estimate for the price per security offered as part of the offering.

The actual price per security that is set may be different.

Expected Pricing Date
For new issue fixed-income securities (e.g., bonds), this is the date on which the issuer estimates the price for the new issue will be set.

The actual date on which the new issue is priced may be different.

Expected Settlement Date
For new issue bonds, this is the estimated date on which the payment for any securities bought as part of the offering must be made.

The actual settlement date may be different.

Expected Yield
For new issue fixed-income securities (e.g., bonds), this is the estimate of what the annual rate of return will be for the security.

The actual yield for the security may be different.

Expense Ratio
Annual percentage of fund’s assets that is paid out in expenses. Expenses include management fees and all the fees associated with the fund’s daily operations.

Expiration
For options, the date upon which an options contract terminates, or ends.

Expiration 1
For the multi-leg option tools, this is the expiration month you would like considered for the strike prices in your search for a particular strategy.

Expiration 2
For the multi-leg option tools, if you are considering a strategy that has multiple expiration months (i.e.: Calendar Spread) this is the second expiration month or far month for the strike prices in your search for a particular strategy.

Expiration Date
The date, according to the terms of your grant agreement with your company and your company’s stock plan, after which you can no longer exercise your grant. Under certain provisions of the stock plan and grant agreement, such as a change in employment status, expiration date may be accelerated. For Restricted Stock, expiration date is the date on which the agreement expires.

Expiration Friday
The third Friday of each month is expiration Friday. Options with the same month and year as the expiration Friday date stop trading after the market closes, and the options expire the next day, Saturday.

Expired On
The date and time on which a price trigger value was met and an alert was sent. Once met, the trigger expires and displays on the Expired Triggers screen for 90 days. You may reactivate or update and activate an expired price trigger.

Extended Free Look Period
Applicable only to annuity contract customers in New York and California. For all other states, refer to free look period.

The extended free look period begins after an annuity contract is purchased in New York or California. During this period, the money in the annuity is in the investment option(s) the customer selected and the contract may be canceled at any time.
Refer to the paperwork you received when you purchased the annuity for information regarding the number of days for the extended free look period.

Extended Hours Quote
This is the best real-time quote for a stock eligible for trading during either of the Extended Hours sessions (the Premarket or After Hours session) across the ECNs linked to the ECN in which Fidelity participates and Nasdaq when available.

Extended Hours quotes obtained from Fidelity.com will reflect only the prices available in the ECN, linked ECNs and Nasdaq’s SelectNet, when available.
Extended Hours session quotes are available only during the Premarket session, 7:30 to 9:15 a.m. Eastern Time unless trading is halted before 9:15 a.m., and the After Hours session, 4:00 to 8:00 p.m. Eastern Time unless trading is halted before 8:00 p.m., on Monday through Friday except holidays.
This quote is displayed to the right of the Premarket or After Hours Place Stock Orders screen for reference when placing an order during these sessions.
You must have a Fidelity brokerage account to place an order during the Extended Hours sessions.

Extended Hours Session as of
The date and time of the last trade of the current Extended Hours session.

Extended Hours Trading
Fidelity’s Extended Hours trading sessions allow brokerage account customers to enter limit orders to buy or sell stock after standard market hours through the Electronic Communications Network (ECN) in which Fidelity participates. An ECN is essentially an electronic order matching system in which investors and other market participants may participate.

The ECN in which Fidelity participates may be linked to other ECNs which will increase the potential for an order to be matched. You can place orders through the ECN using the Extended Hours Trading sessions, the Premarket and the After Hours session.
ECN orders for the Premarket session can be placed from 7:30 a.m. to 9:15 a.m. Eastern Time. ECN orders can only be executed after 8 a.m. Eastern Time. Orders entered between 7:30 and 8:00 a.m. Eastern Time are queued at Fidelity based on the time received. At 8:00 a.m., Fidelity transmits orders to the ECN and the transmitted orders are queued at REDIBook according to the time received and the specified limit price.
After 8 a.m. Eastern Time, Fidelity continues to send Premarket trade orders to the ECN in the order in which Fidelity receives them until 9:15 a.m. Eastern Time, unless trading is halted prior to 9:15 a.m.
Orders in the After Hours session can be placed from 4 to 8 p.m. Eastern Time. ECN orders can only be executed after 4:30 p.m. Eastern Time. Orders entered between 4:00 and 4:05 p.m. Eastern Time are queued at Fidelity based on the time received. Between 4:05 and 4:30 p.m., Fidelity transmits orders to the ECN and the transmitted orders are queued at REDIBook according to the time received and the specified price.
After 4:30 p.m. Eastern Time, Fidelity continues to send After Hours trade orders to the ECN in the order in which Fidelity receives them until 8 p.m. Eastern Time, unless trading is halted prior to 8 p.m.
You must have a Fidelity Brokerage® account to place an order during the Premarket or After Hours session.
Limit orders to buy and sell stocks are matched electronically, if the potential for a matched transaction exists. The ECN will operate during regular trading hours and during the Premarket and After Hours sessions. However, you can only enter orders through Fidelity for execution via the ECN during Extended Hours trading sessions.
In the Extended Hours Trading sessions, you can trade all NASDAQ (National Market and SmallCap) and listed securities.
If a stock that normally trades on the ECN closes on a trading halt in its primary market, or trading is later halted by its primary exchange or a regulatory authority, trading of that stock will also be suspended on the ECN.
Extended Hours trading will be available through the ECN via Fidelity’s Web site. It will not be available through Fidelity’s automated telephone service, other online services, or through Fidelity representatives. Premarket and After Hours quotes obtained from Fidelity.com will only reflect the prices available in REDIBook. Commissions will be the usual Web-based commissions.
Once you place a limit order into the ECN, the order will be matched on a first come, first served basis, at the price you specify.

 
 
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