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Warner Bros. Discovery, Inc. — Director's Dealing 2021
May 25, 2021
30161_dirs_2021-05-24_cf3d5875-7c92-4661-8e35-01f3b20df1dd.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Discovery, Inc. (DISCK)
CIK: 0001437107
Period of Report: 2021-05-20
Reporting Person: ADVANCE LONG-TERM MANAGEMENT TRUST (Director, 10% Owner)
Reporting Person: NEWHOUSE BROADCASTING CORP (10% Owner)
Reporting Person: ADVANCE PUBLICATIONS, INC (10% Owner)
Reporting Person: NEWHOUSE FAMILY HOLDINGS, L.P. (10% Owner)
Reporting Person: ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP (10% Owner)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-05-20 | Call option (obligation to sell) | $31.3036 | E | 416667 | Disposed | 2021-05-20 | Series C Common Stock (416667) | Indirect |
| 2021-05-20 | Put option (right to sell) | $24.1830 | J | 416667 | Disposed | 2021-05-20 | Series C Common Stock (416667) | Indirect |
| 2021-05-21 | Call option (obligation to sell) | $31.3036 | E | 416667 | Disposed | 2021-05-21 | Series C Common Stock (416667) | Indirect |
| 2021-05-21 | Put option (right to sell) | $24.1830 | J | 416667 | Disposed | 2021-05-21 | Series C Common Stock (416667) | Indirect |
| 2021-05-24 | Call option (obligation to sell) | $31.3036 | E | 416667 | Disposed | 2021-05-24 | Series C Common Stock (416667) | Indirect |
| 2021-05-24 | Put option (right to sell) | $24.1830 | J | 416667 | Disposed | 2021-05-24 | Series C Common Stock (416667) | Indirect |
Footnotes
F1: Advance/Newhouse Programming Partnership ("A/NPP") is the record holder of the Common Shares and the call options and put options described above. The other reporting persons may be deemed to beneficially own Common Shares and the call options and put options held by A/NPP due to their control of A/NPP. Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.
F2: As previously disclosed, on June 13, 2019, A/NPP entered into a Share Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which A/NPP wrote European call options and purchased European put options over an aggregate of 12,500,000 shares of Class C common stock (the "Common Shares"). The Transaction expires evenly over a series of expiration dates from May 17, 2021 to June 28, 2021, inclusive.
F3: Pursuant to the Transaction, on the transaction date listed above, the portion of the Transaction representing both the Bank's call option and A/NPP's put option expiring on such date expired unexercised.