Home > Insider Trading > Filing (0001209191-19-056842)

Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1437107	Discovery Inc.	DISCA	()	CO

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
937797	C John Malone	8403 Colesville Road Silver Spring MD 20910		Yes	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Series C Common Stock	Acquisiton	2019-11-14	2,670,000	$28.03	10,317,937	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Series C Common Stock	Call option (obligation to sell)	Disposition	2019-11-14	3,650,000	$0.00	3,650,000	$35.79
Series C Common Stock	Put option (right to sell)	Acquisiton	2019-11-14	3,650,000	$0.00	3,650,000	$25.23

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,650,000			Yes	4	S	Direct
3,650,000			Yes	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Series C Common Stock	557,000	Indirect	By Trust
Series C Common Stock	1,316,424	Indirect	By Spouse

Footnotes

The Reporting Person is the sole trustee of, and with his spouse, retains a unitrust interest in the trust.
The reporting person disclaims beneficial ownership of the shares owned by his spouse.
On November 14, 2019, the reporting person entered into a "zero-cost collar" arrangement (the "Transaction") pursuant to which he wrote European call options and purchased European put options over an aggregate of 3,650,000 Class C common shares. Only one of the options can be in the money on the expiration date, at which time the in-the-money options will be exercised, and the other options will expire. If neither the put options nor the call options are in the money on the expiration date, both the put and call options will expire. The Transaction will be settled in cash unless the reporting person elects physical settlement.
The Transaction is divided into 12 components, each of the first 11 of which are with respect to 300,000 shares of Series C common stock and the last of which is with respect to 350,000 shares of Series C common stock. The components mature on sequential trading days over the period beginning on March 3, 2027 and ending on March 18, 2027.
The Transaction is a "zero-cost collar" in which no premium was exchanged for either the call options or the put options.