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