Stephen A. McGaw - 08 Apr 2022 Form 4 Insider Report for Magallanes, Inc.

Role: President
Signature: /s/ Stephen A. McGaw
Issuer symbol: N/A
Transactions as of: 08 Apr 2022
Net transactions value: $0
Form type: 4
Filing time: 12 Apr 2022, 20:00:16 UTC
Previous filing: 08 Apr 2022
SEC: View on sec.gov

Transactions Table

Type	Class	Transaction	Shares	Change %	Date	Ownership	Footnotes
transaction	Common Stock	Disposed to Issuer	-69,537	-100%	08 Apr 2022	Direct	F1, F2
transaction	Common Stock	Disposed to Issuer	-53,350	-100%	08 Apr 2022	Direct	F1, F2
transaction	Common Stock	Disposed to Issuer	-21,549	-100%	08 Apr 2022	By 401(k)	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Stephen A. McGaw is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Represents 144,435.3411 shares of the Issuer's common stock acquired by the Reporting Person in a pro rata distribution by AT&T Inc. ("AT&T") to holders of its common stock for no consideration, which occurred on April 8, 2022 in a transaction exempt under Rules 16a-9 and 16b-3 of the Securities Exchange Act of 1934, as amended (the "Distribution").
F2	Following the Distribution, each share of the Issuer's common stock was disposed of pursuant to the Agreement and Plan of Merger between AT&T, the Issuer, Discovery, Inc. (renamed Warner Bros. Discovery, Inc. ("WBD") in connection with the merger) and Drake Subsidiary, Inc., in exchange for 34,940 shares of WBD common stock, in the aggregate, having a market value of $24.78 per share on April 11, 2022.

Content

Represents 144,435.3411 shares of the Issuer's common stock acquired by the Reporting Person in a pro rata distribution by AT&T Inc. ("AT&T") to holders of its common stock for no consideration, which occurred on April 8, 2022 in a transaction exempt under Rules 16a-9 and 16b-3 of the Securities Exchange Act of 1934, as amended (the "Distribution").

Following the Distribution, each share of the Issuer's common stock was disposed of pursuant to the Agreement and Plan of Merger between AT&T, the Issuer, Discovery, Inc. (renamed Warner Bros. Discovery, Inc. ("WBD") in connection with the merger) and Drake Subsidiary, Inc., in exchange for 34,940 shares of WBD common stock, in the aggregate, having a market value of $24.78 per share on April 11, 2022.