Advance/Newhouse Partnership - Aug 18, 2023 Form 4 Insider Report for CHARTER COMMUNICATIONS, INC. /MO/ (CHTR)

Role
Director, 10%+ Owner
Signature
Advance/Newhouse Partnership, By: /s/ Oren Klein, Chief Financial Officer
Stock symbol
CHTR
Transactions as of
Aug 18, 2023
Transactions value $
$7,859,400
Form type
4
Date filed
8/22/2023, 08:32 PM
Previous filing
Aug 17, 2023
Next filing
Aug 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 18, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $52.7M +125K +4.15% $421.41 3.14M Aug 18, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 18, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $52.7M +125K +4.15% $421.41 3.14M Aug 18, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 21, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $52.5M +125K +4.15% $419.99 3.14M Aug 21, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 21, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $52.5M +125K +4.15% $419.99 3.14M Aug 21, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 22, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $51.8M +125K +4.15% $414.66 3.14M Aug 22, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Exercise of in-the-money or at-the-money derivative security -$51M -125K -3.99% $408.21 3.01M Aug 22, 2023 Direct F1, F2, F3
transaction CHTR Common Stock Other $51.8M +125K +4.15% $414.66 3.14M Aug 22, 2023 Direct F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -11.11% $0.00 1M Aug 18, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -11.11% $0.00 1M Aug 18, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -11.11% $0.00 1M Aug 18, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -11.11% $0.00 1M Aug 18, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -12.5% $0.00 875K Aug 21, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -12.5% $0.00 875K Aug 21, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -12.5% $0.00 875K Aug 21, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -12.5% $0.00 875K Aug 21, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -14.29% $0.00 750K Aug 22, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -14.29% $0.00 750K Aug 22, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
transaction CHTR Call option (obligation to sell) Exercise of in-the-money or at-the-money derivative security $0 -125K -14.29% $0.00 750K Aug 22, 2023 Common Stock 125K $408.21 Direct F1, F2, F3
transaction CHTR Put option (right to sell) Other $0 -125K -14.29% $0.00 750K Aug 22, 2023 Common Stock 125K $247.49 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously disclosed, on August 6, 2018, Advance/Newhouse Partnership ("A/N") established a credit facility backed by an equity collar transaction and an aggregate of 6,000,000 Class B Common Units of Charter Communications Holdings, LLC ("Units") to provide financial flexibility to support its ongoing estate planning and its investment program and for other general corporate purposes. A/N entered into Share Collar Transactions with unaffiliated banks (each, a "Bank"), pursuant to which A/N wrote European call options and purchased European put options over an aggregate of 6,000,000 shares of Class A common stock (the "Common Stock") of Charter Communications, Inc. (the "Issuer"), half of which were unwound prior to or expired in August 2021 and half of which expire in 2023 (the Share Collar Transactions expiring in 2023, the "Transactions"). The Transactions expire evenly over a series of expiration dates from August 15 to August 30, 2023, inclusive.
F2 Pursuant to the Transaction with the relevant Bank, on the transaction date listed above, the Bank's call option was automatically exercised with respect to the portion of the Transaction expiring on such date, and, because the relevant Transaction is cash settled, in lieu of delivering Common Stock to the Bank, A/N paid to the Bank, for each share of Common Stock underlying such call options, the excess of the volume weighted average price of the Common Stock on the relevant transaction date over the strike price of $408.2063 with respect to such call option. On the same date, the related put option with respect to an equal number of shares of Common Stock expired unexercised.
F3 The settlement of the Transactions occurred pursuant to the formulas set forth in the Transaction agreements at the time they were entered into, and any reported sales of the Common Stock in connection therewith are deemed exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-6(b) thereunder.

Remarks:

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 shares of Common Stock beneficially owned by A/N and reported in Table I and the call options and put options held by A/N and reported in Table II due to their control of A/N. Each Reporting Person disclaims beneficial ownership except to the extent of its pecuniary interest.