Espalier Global Management LLC

Holdings History for RAYONIER ADVANCED MATERIALS INC. - Common stock, par value $0.01 per share (RYAM)

Symbol: RYAM on NYSE
Investment type: Equity / Common stock, par value $0.01 per share

Holdings date	Option	Weight	Change	Value $	Shares	Change	Activity %	Price	All Holders
31 Mar 2015	put		-1.2%	$0	0	-200,000	-100%	$10.23	Q1 2015
31 Dec 2014	put	1.2%	-0.31%	$4,460,000	200,000	-50,000	-20%	$22.30	Q4 2014
30 Sep 2014	put	0.57%	+0.57%	$8,228,000	250,000	+250,000	NEW	$32.91	Q3 2014

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.