For periods prior to the Spin - Off from Barnes & Noble on August 2, 2015, Diluted earnings per share and
weighted - average diluted shares outstanding
reflect potential common shares from Barnes & Noble
equity plans in which our employees participated based on the distribution ratio.
Returns for the IQ Merger Arbitrage Index do not
reflect the deduction of management fees, taxes and other expenses.The MSCI World Index is a free - float adjusted market capitalization
weighted index that is designed to measure the
equity market performance of developed market (performance data assumes reinvestment of dividends, but it does not
reflect management fees, transaction costs or other expenses).