# Independent §11.4 Registrar Execution Record

**Execution:** PATH2-REGISTRAR-EXECUTION-2294-10-20  
**Started:** 2294-10-15 09:00 UTC  
**Completed and issued:** 2294-10-20 17:30 UTC  
**Status:** Conformity certified; instrument issuance permitted

## I. Authority and fence

The Registrar executed the escrowed code on the escrowed data in the escrowed environment under Charter §11.4. This record decides conformity, not merits. It does not select a model, alter an estimand, revise a threshold, assess whether the locked design was wise, or exercise Commission judgment.

## II. Escrow identity

The execution used the controlling evidence record, deterministic verifier, publication-record verifier, annex generator, locked Restatement, Lower incidence evidence, and complete §11.1 annex. Their byte identities are published in `path-2-registrar-execution-2294-data.json` and the §11.1 compendium.

The environment was Node.js 22 LTS, timezone UTC, locale C, with no external dependencies and no random seed. The run used the declaration `NO_RANDOM_SEED_DETERMINISTIC_EXECUTION`.

## III. Executed union

The Registrar executed eight §4.6 representatives: the certification-side locked-base representative and the challenge-side stress representative for each of Findings I–IV. It verified the §4.3 exclusion of four unstable candidates against the same held-out persistence benchmark and verified that no exclusion rested on any other ground.

The challenge-side stress representative was least favorable to activation for each Finding. Its thirty-year simultaneous path reproduced the controlling annual bounds in the certification dataset exactly.

## IV. Computed dispositions

The execution returned:

- Finding I — PASS;
- Finding II — PASS;
- Finding III — PASS;
- Finding IV — PASS;
- A1–A8 — PASS; Schedule A CERTIFIED;
- B1–B6 — PASS; Schedule B CERTIFIED; and
- effective notice — VALID.

Every reported comparison matched the executed output. Every instrument disposition matched its comparison under §1.6. No deviation, missing milestone deposit, digest mismatch, or recomputation failure occurred.

## V. Issuance order

This execution completed before the Schedule A instrument issued on 2294-11-01, before the Lower Incidence Certificate issued on 2294-11-15, and before effective notice published on 2294-12-01. The issuance bar was therefore satisfied before any operative instrument issued.

## VI. Certification

The escrowed record is complete, executable, and conforming. Issuance is permitted. This certificate does not endorse the merits of the schedule or the Commission's design.

Part of the 2294 Ratification Record