SEC Form 4 · accession 0001209191-16-115495
Discover Financial Services · DFS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David W Nelms
Officer — Chairman & CEO · Director
Period of report
Apr 21, 2016
Accepted (ET)
Apr 25, 2016 · 4:17 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 | Apr 21, 2016 | M | 45,315 | $26.6848 | A | 1,874,413 | D | |
| Common StockF1 | Apr 21, 2016 | S | 32,399 | $56.366 | D | 1,842,014 | D | |
| Common Stock | holding | — | — | — | 1,009 | 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 Option (right to buy)F3,F2 | $26.6848 | Apr 21, 2016 | M | 45,315 | D | — | Dec 12, 2016 | Common Stock | 45,315 | 0 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.35 to $56.42, inclusive. The reporting person undertakes to provide to Discover Financial Services, any security holder of Discover Financial Services, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F2This option became fully vested on July 2, 2007.
- F3In 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 15,424 shares of common stock of Morgan Stanley at an exercise price of $78.40.