Pascal Desroches - Apr 8, 2022 Form 4 Insider Report for Magallanes, Inc. (NONE)

Role
Chief Executive Officer and Chief Financial Officer, Director
Signature
/s/ Pascal Desroches
Stock symbol
NONE
Transactions as of
Apr 8, 2022
Transactions value $
$0
Form type
4
Date filed
4/12/2022, 08:00 PM
Previous filing
Apr 4, 2022
Next filing
May 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Disposed to Issuer -221K -100% 0 Apr 8, 2022 Direct F1, F2
transaction NONE Common Stock Disposed to Issuer -16.9K -100% 0 Apr 8, 2022 Direct F1, F2
transaction NONE Common Stock Disposed to Issuer -4.32K -100% 0 Apr 8, 2022 By 401(k) F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Pascal Desroches is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents 242,737.371 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 58,721 shares of WBD common stock, in the aggregate, having a market value of $24.78 per share on April 11, 2022.

Remarks:

Chief Executive Officer and Chief Financial Officer