| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CHTR | Convertible Preferred Units of Charter Communications Hldgs. | Conversion of derivative security | -25M | -100% | 0 | Jun 18, 2021 | Class B Common Units of Charter Communications Holdings, LLC | 9.33M | $267.85 | See Remarks | F1, F2, F3 | ||
| transaction | CHTR | Class B Common Units of Charter Communications Holdings, LLC | Conversion of derivative security | +9.33M | +68.71% | 22.9M | Jun 18, 2021 | Class A Common Stock of Charter Communications, Inc. | 9.33M | See Remarks | F2, F3, F4 |
| Id | Content |
|---|---|
| F1 | The full name of the issuer of the Convertible Preferred Units is Charter Communications Holdings, LLC. |
| F2 | Pursuant to the Amended and Restated Limited Liability Company Agreement of Charter Communications Holdings, LLC, a Delaware limited liability company ("Charter Holdings"), dated as of May 18, 2016 (the "LLC Agreement"), on June 18, 2021, each of the Convertible Preferred Units of Charter Holdings (the "Convertible Preferred Units"), with liquidation value of $100, may be converted into 0.37334 of a Class B Common Unit, representing a conversion price of $267.85. There is no expiration date associated with the conversion of the Convertible Preferred Units. |
| F3 | Pursuant to the LLC Agreement, from and after the fifth anniversary of the date of the LLC Agreement, the Manager of Charter Holdings may elect, at its sole discretion, to require that the Convertible Preferred Units be converted into Class B Common Units of Charter Holdings (the "Class B Common Units"); provided that the closing price of the Class A Common Stock of the Issuer exceeds an amount equal to 1.3 times the then relevant conversion price with respect to the Convertible Preferred Units for at least 20 non-consecutive days in any 30 consecutive-day period (the "Minimum Trading Price Requirement"). On June 16, 2021, Advance/Newhouse Partnership, a New York partnership ("A/N"), received notice from Charter Holdings stating that the Minimum Trading Price Requirement has been met and requiring the conversion of all 25,000,000 Convertible Preferred Units held by A/N into Class B Common Units. |
| F4 | Pursuant to that certain Exchange Agreement, dated as of May 18, 2016, between, among others, the Issuer, Charter Holdings and A/N, the Class B Common Units may be exchanged by A/N at any time into either, at the Issuer's option, (i) shares of the Class A Common Stock of the Issuer on a one-for-one basis or (ii) cash based on the volume-weighted average price of the Class A Common Stock of the Issuer for the two consecutive trading days immediately prior to the date of delivery of an exchange notice by A/N. There is no expiration date associated with the exchange of the Class B Common Units. |
Each of Newhouse Broadcasting Corporation, Advance Publications, Inc., Newhouse Family Holdings, L.P. and Advance Long-Term Management Trust may be deemed to beneficially own the Convertible Preferred Units and Class B Common Units held by A/N due to their control of A/N.