SEC Form 4 · accession 0001209191-15-038507
Discover Financial Services · DFS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Harit Talwar
Officer — EVP
Period of report
May 1, 2015
Accepted (ET)
May 4, 2015 · 5:27 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 Stock | May 1, 2015 | M | 15,691 | $26.68 | A | 306,821 | D | |
| Common Stock | May 1, 2015 | S | 15,691 | $59.24 | D | 291,130 | D | |
| Common Stock | holding | — | — | — | 50,100 | I | By grantor retained annuity trust | |
| Common Stock | holding | — | — | — | 676 | I | By ESOP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionF2,F1 | $26.68 | May 1, 2015 | M | 15,691 | D | — | Dec 12, 2016 | Common Stock | 15,691 | 0 | D |
Explanation of responses
- F1This option became fully vested on January 2, 2005.
- F2In connection with Discover Financial Services' spin-off from Morgan Stanley, this option was granted by Discover Financial Services in replacement of an option to purchase 5,341 shares of common stock of Morgan Stanley at an exercise price of $78.40.