Advance/Newhouse Partnership - Feb 4, 2022 Form 4 Insider Report for CHARTER COMMUNICATIONS, INC. /MO/ (CHTR)

Signature
Advance/Newhouse Partnership, By: /s/ Oren Klein, Chief Financial Officer
Stock symbol
CHTR
Transactions as of
Feb 4, 2022
Transactions value $
$0
Form type
4
Date filed
2/8/2022, 04:26 PM
Previous filing
Feb 7, 2022
Next filing
Feb 15, 2022

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) Purchase -58.7K -2.97% 1.92M Feb 4, 2022 Common Stock 58.7K $475.20 Direct F1, F2
transaction CHTR Call option (obligation to sell) Purchase -44.1K -2.97% 1.44M Feb 4, 2022 Common Stock 44.1K $475.20 Direct F1, F3
transaction CHTR Call option (obligation to sell) Purchase -14.7K -2.97% 479K Feb 4, 2022 Common Stock 14.7K $475.20 Direct F1, F4
transaction CHTR Put option (right to sell) Sale -58.7K -2.97% 1.92M Feb 4, 2022 Common Stock 58.7K $327.73 Direct F1, F2
transaction CHTR Put option (right to sell) Sale -44.1K -2.97% 1.44M Feb 4, 2022 Common Stock 44.1K $327.73 Direct F1, F3
transaction CHTR Put option (right to sell) Sale -14.7K -2.97% 479K Feb 4, 2022 Common Stock 14.7K $327.73 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 30, 2019, Advance/Newhouse Partnership ("A/N") established a credit facility backed by an equity collar transaction and an aggregate of 3,950,000 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 (the "Transactions") with unaffiliated banks, pursuant to which A/N wrote European call options and purchased European put options over an aggregate of 3,950,000 shares of Class A common stock (the "Common Stock") of Charter Communications, Inc. (the "Issuer"). Under the agreement, the Transactions may be settled in cash unless A/N elects physical settlement, in which case it expects to exchange Units for Class A Common Stock sufficient to satisfy its obligations under the Transactions.
F2 On February 4, 2022, A/N early terminated a portion of the Transactions, with expiration dates running from August 15, 2022 to September 6, 2022, inclusive, and an equivalent portion of the corresponding credit facility. The terminated Transactions covered 58,749 shares of Class A Common Stock, and, in connection with this termination, 58,749 Units were released from the related pledge. Pursuant to this termination, A/N paid $7,808,807.10 in cash to the unaffiliated bank counterparty.
F3 Also on February 4, 2022, A/N early terminated an additional portion of the Transactions, with expiration dates running from August 15, 2022 to September 6, 2022, inclusive, and an equivalent portion of the corresponding credit facility. The terminated Transactions covered 44,062 shares of Class A Common Stock, and, in connection with this termination, 44,062 Units were released from the related pledge. Pursuant to this termination, A/N paid $5,856,637.32 in cash to the unaffiliated bank counterparty.
F4 Also on February 4, 2022, A/N early terminated an additional portion of the Transactions, with expiration dates running from August 15, 2022 to September 6, 2022, inclusive, and an equivalent portion of the corresponding credit facility. The terminated Transactions covered 14,688 shares of Class A Common Stock, and, in connection with this termination, 14,688 Units were released from the related pledge. Pursuant to this termination, A/N paid $1,952,302.52 in cash to the unaffiliated bank counterparty.

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 call options and put options held by A/N and reported in Table II due to their control of A/N.