0001140361-21-027797.txt : 20210810 0001140361-21-027797.hdr.sgml : 20210810 20210810163939 ACCESSION NUMBER: 0001140361-21-027797 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210806 FILED AS OF DATE: 20210810 DATE AS OF CHANGE: 20210810 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: HOCHSCHILD ROGER C CENTRAL INDEX KEY: 0001183833 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33378 FILM NUMBER: 211160532 MAIL ADDRESS: STREET 1: 2500 LAKE COOK ROAD CITY: RIVERWOODS STATE: IL ZIP: 60015 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Discover Financial Services CENTRAL INDEX KEY: 0001393612 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 362517428 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 2500 LAKE COOK ROAD CITY: RIVERWOODS STATE: IL ZIP: 60015 BUSINESS PHONE: 224-405-0900 MAIL ADDRESS: STREET 1: 2500 LAKE COOK ROAD CITY: RIVERWOODS STATE: IL ZIP: 60015 4 1 form4.xml FORM 4 X0306 4 2021-08-06 0001393612 Discover Financial Services DFS 0001183833 HOCHSCHILD ROGER C 2500 LAKE COOK ROAD RIVERWOODS IL 60015 true true CEO and President Non-Recourse Loan (call option - obligation to sell) 36.39 2021-08-06 5 E 0 74410 D 2020-05-13 2029-05-13 Common Stock 74410 0 D On May 13, 2020, the reporting person entered into a non-recourse loan agreement ("Non-Recourse Loan") with a generation-skipping trust ("GST") for which his spouse serves as trustee, pursuant to which the reporting person transferred 74,410 shares of Discover Financial Services ("Shares") to the GST. In return, the GST provided to the reporting person a promissory note for the value of the Shares transferred, using the fair market value of the Shares as of close of trading on the transfer date. On August 6, 2021, the Shares underlying the Non-Recourse Loan were returned to the reporting person. The cancellation of the long call option is exempt from Section 16 pursuant to Rule 16b-6(d) and 16a-4(d) under the Securities Exchange Act of 1934, as amended. The Non-Recourse Loan has a term of 9 years, subject to extension by the reporting person. /s/ D. Christopher Greene as Attorney-in-Fact for Roger C. Hochschild 2021-08-10