0001567619-22-021465.txt : 20221209
0001567619-22-021465.hdr.sgml : 20221209
20221209173600
ACCESSION NUMBER: 0001567619-22-021465
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20221207
FILED AS OF DATE: 20221209
DATE AS OF CHANGE: 20221209
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: 221455768
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
doc1.xml
FORM 4
X0306
4
2022-12-07
0
0001393612
Discover Financial Services
DFS
0001183833
HOCHSCHILD ROGER C
2500 LAKE COOK ROAD
RIVERWOODS
IL
60015
1
1
0
0
CEO and President
Common Stock
2022-12-06
5
G
0
10000
0
D
858004
D
Common Stock
2022-12-07
5
G
0
10000
0
D
848004
D
Common Stock
29111
I
By Hochschild Remainder Trust
Non-Recourse Loan (call option - obligation to sell)
104.085
2022-12-07
4
J
0
80876
D
2022-12-07
2031-12-01
Common Stock
80876
80876
D
Non-Recourse Loan (call option - right to buy)
104.085
2022-12-07
4
J
0
80876
A
2022-12-07
2031-12-01
Common Stock
80876
80876
I
By GST
On December 7, 2022, 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 80,876 shares of Discover Financial Services ("Shares") to the GST. As collateral for the loan, the GST provided to the reporting person a promissory note for the value of the Shares transferred, using the average high/low price on the transfer date of $104.085.
The Non-Recourse Loan has a term of 9 years, subject to extension by the reporting person.
These 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.
/s/ Efie Vainikos as Attorney-In-Fact for Roger C. Hochschild
2022-12-09