The Terminal List season 1 – who was the unnamed shareholder?

By M.N. Miller
Published: July 1, 2022
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This article, “who was the unnamed shareholder,” contains spoilers regarding the Amazon original series The Terminal List season 1.

Access the recaps, reviews, and news for The Terminal List.

A significant subplot of The Terminal List is who is the last and unnamed shareholder? After Katie wrote her story, she put two and two together and made an educated guess that it had to be the Secretary of Defense Lorraine Hartley. Why? Everyone who profited off the blind test study and the coverup was paid and profited with shares. The shares that are now multiplied ten times their worth when the Nubellum and Plano deal went down. The unnamed shareholder now holds notes worth more than 20 million dollars. 

The Terminal List season 1 – who was the unnamed shareholder? 

When Katie tries to publish her story that points to Secretary Hartley being paid off to run a blind experiment on active troops and the subsequent coverup of the fact that she knew about the side effects and the setup in Syria, Hartley intercepts the email to her publisher and explains she did it for humanitarian reasons. Her father had PTSD. If the drug RD-4895 worked, she could lower the troop deployment numbers. Also, end the cycle of troops who could now not experience trauma and did not be needed to be replaced. Also, end the violence and mental health instability at home.  

She convinces Katie, even though Hartley lied about knowledge of the side effects and coverup. When Katie researches further, she ties the profits from the unnamed owner shares to a company in Peru. And who keeps talking about vacationing and retiring in Peru? Lt. James Reece’s best friend, CIA agent Ben Edwards. 

Does CIA agent Ben Edwards get away with it?  

No, Lt. Commander James Reece’s buddy and loyal friend who helped work through his entire terminal list was the unnamed shareholder. But why? Stever Horn of Capstone Industries, Secretary of Defense Lorraine Hartley, and Admiral Gerald Pilar need a United States intelligence agency member to give credence to the false intelligence report. The report was generated as a fake claim that a chemical weapons terrorist named Kahani was in Syria.  

Of course, Ben had questions why would he do this to his best friend and other members of the unit he knows? He was told they all had terminal cancer and did not have long to live. As he tells Reece, who confronts him on his boat off the coast of Peru, why not let his friends die with their boots on instead of in a hospital room? Of course, the money helped, and he even admits that was part of it.  

Ben tells his friend to go ahead and welcomes him to finish his list. We hear a gunshot off-camera from a beach, and we see the boat in the distance. 

You can watch this series with a subscription to Amazon Prime. 

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