SEC Form 4 · accession 0001209191-15-038101
Discover Financial Services · DFS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
R. Mark Graf
Officer — EVP & Chief Financial Officer
Period of report
Apr 29, 2015
Accepted (ET)
May 1, 2015 · 5:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001393612
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 29, 2015 | A | 68,599 | $0.00 | A | 151,791 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Restricted stock units are convertible into shares of common stock at a ratio of 1:1. The grant is designed to promote retention. All of the terms and conditions of the restricted stock units are identical to the time-vested restricted stock units granted to certain employees under the Company's long-term incentive program, except that (i) the restricted stock units vest in four (rather than in three) equal annual installments and (ii) shares issued within twelve (12) months prior to a voluntary termination that occurs before full vesting of the award are subject to a clawback.