SEC Form 4 · accession 0001209191-17-029810
Discover Financial Services · DFS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Roger C Hochschild
Officer — President & COO
Period of report
May 1, 2017
Accepted (ET)
May 3, 2017 · 6:51 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 StockF2,F3 | May 1, 2017 | S | 15,258 | $62.28 | D | 860,773 | D | |
| Common StockF4 | holding | — | — | — | 99,362 | I | By grantor retained annuity trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 2, 2017.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.01 to $62.53, 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.
- F3Includes 79,000 shares previously owned indirectly by the reporting person in a grantor retained annuity trust that were distributed to the grantor/reporting person in an exempt transaction on May 1, 2017.
- F4Excludes 79,000 shares previously owned indirectly by the reporting person in a grantor retained annuity trust that were distributed to the grantor/reporting person in an exempt transaction on May 1, 2017.