Form 4: Charter CEO Winfrey Exercises Options, Receives New Grant

Charter Communications CEO Christopher L. Winfrey reported exercising expiring stock options and receiving a new grant, aligning executive interests with long-term company performance.

Summary

• Christopher L. Winfrey, President and CEO of Charter Communications, Inc., reported changes in his beneficial ownership of Class A Common Stock.
• On January 15, 2026, Winfrey exercised 24,064 stock options granted on January 15, 2016, under the Charter Communications, Inc. 2009 Stock Incentive Plan, at an exercise price of $183.87 per share, to address their near-term expiration.
• Concurrently, 23,366 shares of Class A Common Stock were disposed of (withheld) at a price of $194.61 for the purpose of paying the exercise price and taxes.
• Following these transactions, Winfrey's direct beneficial ownership of Class A Common Stock is 70,941 shares.
• Winfrey also holds indirect beneficial ownership of 20,674 shares through Atalaya Management, LLC, 38,454 shares through Yeniley L. Winfrey Irrevocable Trust, 50,046 shares through GST Non-Exempt Winfrey Dynasty Trust, and 38,385 shares through Winfrey Dynasty Trust.
• Additionally, on January 15, 2026, Winfrey was granted 80,047 new stock options under the Charter Communications, Inc. 2019 Stock Incentive Plan, with an exercise price of $198.03.

Sentiment

Score: 7

Explanation: The filing indicates routine executive compensation activities, including the exercise of expiring options and the grant of new long-term incentives. The new option grant aligns the CEO's interests with future company performance, which is generally positive for corporate governance and shareholder value.

Positives

• The grant of 80,047 new stock options aligns the CEO's long-term incentives with shareholder value creation, as these options will vest on the third anniversary of the grant date.
• The exercise of expiring options demonstrates active management of executive compensation and equity holdings, preventing the loss of value from unexercised options.

Negatives

• The disposition of 23,366 shares for tax withholding and exercise costs reduces direct beneficial ownership of Class A Common Stock.

Future Outlook

The newly granted stock options, totaling 80,047, will vest 100% on January 15, 2029, and will expire on January 15, 2036, aligning the CEO's incentives with the company's long-term performance.

Industry Context

This Form 4 filing details routine executive compensation activities, specifically the exercise of expiring stock options and the grant of new equity awards. Such transactions are common practice across the telecommunications and media industry to incentivize and retain senior leadership by aligning their financial interests with long-term shareholder value.

Related Party Transactions

• Indirect beneficial ownership of 20,674 shares through Atalaya Management, LLC.
• Indirect beneficial ownership of 38,454 shares through Yeniley L. Winfrey Irrevocable Trust.
• Indirect beneficial ownership of 50,046 shares through GST Non-Exempt Winfrey Dynasty Trust.
• Indirect beneficial ownership of 38,385 shares through Winfrey Dynasty Trust.

Stakeholder Impact

• Shareholders: The grant of new stock options aligns the CEO's long-term financial interests with shareholder value creation, potentially fostering stronger performance incentives.
• Management: The transactions reflect ongoing executive compensation and equity management for the CEO.

Next Steps

• Vesting of 80,047 new stock options on January 15, 2029.
• Expiration of 80,047 new stock options on January 15, 2036.

Key Dates

Keywords

Charter Communications, CHTR, Christopher L. Winfrey, CEO, stock options, insider transaction, beneficial ownership, executive compensation, equity grant, Form 4