AT&T INC. — Director's Dealing 2022

Apr 13, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Magallanes, Inc. (NONE)
CIK: 0001889658
Period of Report: 2022-04-08

Reporting Person: AT&T INC. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-04-08	Common Stock	D	7158843977	—	Disposed	0	Direct

Footnotes

F1: On April 7, 2022, the Issuer effected a stock split pursuant to which the 1,000 shares of the Issuer's common stock held by the Reporting Person were converted into 7,158,843,977 shares of the Issuer's common stock that continued to be held by the Reporting Person in an exempt transaction under Rule 16a-9 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

F2: Each share of Issuer common stock was disposed of pursuant to a pro rata distribution to the Reporting Person's stockholders in an exempt transaction under Rule 16a-9 under the Exchange Act, immediately followed by the merger of the Issuer with and into Drake Subsidiary, Inc. ("Merger Sub") pursuant to the Agreement and Plan of Merger between the Reporting Person, the Issuer, Discovery, Inc. (renamed Warner Bros. Discovery, Inc. in connection with the merger) and Merger Sub.