Form 4: Advance/Newhouse Partnership Sells 150,266 Charter Communications Units to Issuer

Advance/Newhouse Partnership and related entities, significant shareholders and directors of Charter Communications, Inc., reported the sale of 150,266 Class B Common Units to the issuer at a price of $396.19 per unit, effective July 3, 2025.

Summary

• Advance/Newhouse Partnership and related entities, including Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corp., and Newhouse Family Holdings, L.P., reported a transaction involving Charter Communications, Inc.
• The reporting persons are identified as both Directors and 10% Owners of Charter Communications.
• On July 3, 2025, 150,266 Class B Common Units of Charter Communications Holdings, LLC were disposed of.
• These units are exchangeable into Charter Communications Class A Common Stock on a one-for-one basis or for cash based on the volume-weighted average price.
• The units were sold to the issuer (Charter Communications, Inc.) in an exempt transaction under Rule 16b-3 of the Securities Exchange Act of 1934.
• The sale price was $396.19 per unit, identified as the Average Public Per Share Repurchase Price.
• Following this transaction, the reporting persons indirectly beneficially own 15,673,977 Class B Common Units.

Sentiment

Score: 7

Explanation: The transaction represents a share repurchase by Charter Communications from a significant shareholder. Share repurchases are generally viewed positively by investors as they return capital to shareholders, reduce share count, and can boost earnings per share, indicating management's confidence and efficient capital allocation. The fact that it's an exempt transaction under Rule 16b-3 further suggests it's a structured, non-opportunistic event.

Positives

• The transaction is a sale to the issuer, indicating a share repurchase by Charter Communications, which can be positive for remaining shareholders by reducing the number of outstanding shares and potentially increasing earnings per share.
• The transaction is exempt under Rule 16b-3, suggesting it is part of a pre-approved or structured corporate program, which typically reduces concerns about opportunistic insider selling.

Negatives

• A significant shareholder and director group reducing their holdings, even through a repurchase, could be interpreted by some as a slight reduction in their direct stake, though the overall beneficial ownership remains substantial.

Future Outlook

No specific future outlook or guidance is provided in this insider transaction report.

Industry Context

This transaction is specific to Charter Communications and its major shareholders. It reflects internal capital management through a share repurchase rather than broader industry trends, though share repurchases are a common capital allocation strategy across many industries.

Related Party Transactions

• The sale of Class B Common Units by Advance/Newhouse Partnership and related entities (who are 10% owners and have director representation) to Charter Communications, Inc. constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Potential positive impact due to reduced share count from the repurchase, which can increase earnings per share and potentially the stock price.
• Company (Charter Communications): Reduces outstanding equity, potentially improving financial ratios and capital structure.

Key Dates

Recommendation

Keywords

Charter Communications, CHTR, SEC Form 4, insider transaction, share repurchase, Advance/Newhouse Partnership, Class B Common Units, beneficial ownership, Rule 16b-3