Form 4: Advance/Newhouse Partnership Sells 56,714 Charter Communications Units in Exempt Transaction
SEC Form 4
Advance/Newhouse Partnership sold 56,714 Class B Common Units of Charter Communications Holdings, LLC to the Issuer in an exempt transaction on June 6, 2024.
Summary
- On June 6, 2024, Advance/Newhouse Partnership sold 56,714 Class B Common Units of Charter Communications Holdings, LLC to Charter Communications, Inc.
- The transaction was exempt under Rule 16b-3 of the Securities Exchange Act of 1934.
- The sale price was $271.74 per unit, representing the Average Public Per Share Repurchase Price.
- Following the transaction, Advance/Newhouse Partnership continues to beneficially own a significant number of Class B Common Units (16,665,131 indirectly).
- These units are exchangeable for Class A Common Stock or cash at Charter Communications' option.
Sentiment
Score: 5
Explanation: The document describes a routine transaction. It's neither particularly positive nor negative from an investment perspective.
Industry Context
This transaction reflects ongoing activity by major shareholders in managing their positions in Charter Communications. Such transactions are common and can be driven by various factors, including portfolio rebalancing or strategic considerations.
Stakeholder Impact
- The sale of units to the issuer may have a minor impact on shareholders due to the change in ownership structure.
- The transaction does not appear to have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 05/18/2016 | Date of exchange agreement between the Issuer, Charter Holdings and A/N. |
| 12/23/2016 | Date of letter agreement between the Issuer, Charter Holdings and A/N regarding repurchase price. |
| 06/06/2024 | Date of the transaction: sale of Class B Common Units. |
| 06/10/2024 | Date of signatures on the Form 4 filing. |
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