Form 4: Charter Communications Director Newhouse Sells Class B Common Units in Exempt Transaction

Michael A. Newhouse, a director of Charter Communications, sold 56,714 Class B Common Units of Charter Communications Holdings, LLC to the issuer in an exempt transaction.

Summary

• On June 6, 2024, Michael A. Newhouse, a director of Charter Communications, sold 56,714 Class B Common Units of Charter Communications Holdings, LLC.
• The transaction was an exempt transaction pursuant to Rule 16b-3 under the Securities Exchange Act of 1934.
• The Class B Common Units are exchangeable by Advance/Newhouse Partnership (A/N) into either Class A Common Stock of Charter Communications on a one-for-one basis or an amount of cash based on the volume-weighted average price of the Class A Common Stock.
• The exchange agreement is dated May 18, 2016, between the Issuer, Charter Holdings and A/N.
• The average public per share repurchase price was $271.74.
• Newhouse may be deemed to beneficially own the shares due to affiliations with Advance Long-Term Management Trust, Advance Publications, Inc., and Newhouse Broadcasting Corporation, but he disclaims beneficial ownership.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a sale of shares by a director. It doesn't inherently convey positive or negative sentiment, but rather reports a transaction.

Industry Context

Sales of company stock by directors are a normal part of corporate governance. It is important to consider the size of the sale relative to the director's overall holdings in the company.

Key Dates