Debra L. Dial - 08 Apr 2022 Form 4 Insider Report for Magallanes, Inc.

Role
Senior Vice President, Controller and Chief Accounting Officer, Director
Signature
/s/ Debra L. Dial
Issuer symbol
N/A
Transactions as of
08 Apr 2022
Net transactions value
$0
Form type
4
Filing time
12 Apr 2022, 20:00:50 UTC
Previous filing
28 Mar 2022
Next filing
18 Apr 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction Common Stock Disposed to Issuer -37,863 -100% 0 08 Apr 2022 Direct F1, F2
transaction Common Stock Disposed to Issuer -9,276 -100% 0 08 Apr 2022 By 401(k) F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Debra L. Dial is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents 47,139.41 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 11,403 shares of WBD common stock, in the aggregate, having a market value of $24.78 per share on April 11, 2022.

Remarks:

Senior Vice President, Controller and Chief Accounting Officer