SEC Form 4 · accession 0001209191-18-039303
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 2, 2018
Accepted (ET)
Jun 22, 2018 · 6:22 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 | May 2, 2018 | G | 14,000 | $0.00 | D | 767,010 | D | |
| Common StockF2 | Jun 19, 2018 | G | 29,111 | $0.00 | D | 0 | I | By grantor retained annuity trust |
| Common StockF3 | Jun 19, 2018 | G | 29,111 | $0.00 | A | 29,111 | I | By Hochschild Remainder Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Includes 70,250 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 2, 2018.
- F2On May 3, 2016, the reporting person contributed 175,000 shares of Discover Financial Services (DFS) common stock to a grantor retained annuity trust for the benefit of himself, his spouse, and his three minor children. Thereafter, as previously reported, dividends were paid and reinvested on the contributed shares from May 2016 thru February 2017, in the amount of 3,361 shares of DFS common stock. Upon termination of the trust on May 2, 2018, 29,111 of the shares were transferred to a Remainder Trust for the benefit of the reporting person's spouse and children. Those shares continue to be reported in this Form 4 as indirectly owned by the reporting person. The remaining 149,250 shares were previously distributed to the reporting person and continue to be reported in this Form 4 as directly owned.
- F3These shares are held in a trust for the benefit of the reporting person's spouse and children. The reporting person's spouse is trustee of the trust.
Remarks
Exhibit List Exhibit 24 - Power of Attorney