ADVANCE LONG-TERM MANAGEMENT TRUST - 24 Jun 2021 Form 4 Insider Report for Discovery, Inc. (WBD)

Reporting relationship: Director, 10%+ Owner
Issuer ticker: WBD
Reported as of: 24 Jun 2021
Net transaction value: $0
SEC form: 4
Accepted by SEC: 28 Jun 2021, 18:01:29 UTC
Prior SEC filing: 23 Jun 2021
Source filing: View source filing
Reporting owner signature: Advance/Newhouse Programming Partnership, By: /s/ Oren Klein, Chief Financial Officer

Key filing fact

ADVANCE LONG-TERM MANAGEMENT TRUST filed Form 4 for Discovery, Inc. (WBD) on 28 Jun 2021.

Key facts

This page summarizes ADVANCE LONG-TERM MANAGEMENT TRUST's Form 4 filing for Discovery, Inc. (WBD).
6 reported transactions and 6 derivative rows are listed below.
Accepted by SEC: 28 Jun 2021, 18:01.

Change

Previous filing in this sequence was filed on 23 Jun 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

WBD transaction Derivative

Call option (obligation to sell)

Expiration of short derivative position

Transaction value: $0
Shares: -416,667
Change %: -33%
Price: $0.000000
Shares after: 833,324
Date: 24 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,667
Exercise price: $31.30
Footnotes: F1, F2, F3

WBD transaction Derivative

Put option (right to sell)

Other

Transaction value: $0
Shares: -416,667
Change %: -33%
Price: $0.000000
Shares after: 833,324
Date: 24 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,667
Exercise price: $24.18
Footnotes: F1, F2, F3

WBD transaction Derivative

Call option (obligation to sell)

Expiration of short derivative position

Transaction value: $0
Shares: -416,667
Change %: -50%
Price: $0.000000
Shares after: 416,657
Date: 25 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,667
Exercise price: $31.30
Footnotes: F1, F2, F3

WBD transaction Derivative

Put option (right to sell)

Other

Transaction value: $0
Shares: -416,667
Change %: -50%
Price: $0.000000
Shares after: 416,657
Date: 25 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,667
Exercise price: $24.18
Footnotes: F1, F2, F3

WBD transaction Derivative

Call option (obligation to sell)

Expiration of short derivative position

Transaction value: $0
Shares: -416,657
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 28 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,657
Exercise price: $31.30
Footnotes: F1, F2, F3

WBD transaction Derivative

Put option (right to sell)

Other

Transaction value: $0
Shares: -416,657
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 28 Jun 2021
Ownership: See Footnote
Underlying class: Series C Common Stock
Underlying amount: 416,657
Exercise price: $24.18
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Advance/Newhouse Programming Partnership ("A/NPP") is the record holder of the Common Shares and the call options and put options described above. The other reporting persons may be deemed to beneficially own Common Shares and the call options and put options held by A/NPP due to their control of A/NPP. Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.

Footnote F2

As previously disclosed, on June 13, 2019, A/NPP entered into a Share Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which A/NPP wrote European call options and purchased European put options over an aggregate of 12,500,000 shares of Class C common stock (the "Common Shares"). The Transaction expires evenly over a series of expiration dates from May 17, 2021 to June 28, 2021, inclusive.

Footnote F3

Pursuant to the Transaction, on the transaction date listed above, the portion of the Transaction representing both the Bank's call option and A/NPP's put option expiring on such date expired unexercised.