[FWP] Morgan Stanley Free Writing Prospectus
Form 4 filing for Charter Communications, Inc. (CHTR) dated 07/07/2025 discloses a material insider transaction by controlling shareholder Advance/Newhouse Partnership (A/N) and related Newhouse entities. On 07/03/2025 A/N disposed of 150,266 Class B Common Units of Charter Communications Holdings, LLC鈥攁 derivative security exchangeable one-for-one into Charter Class A shares鈥攁t a price of $396.19 per unit. The units were sold directly to the issuer in an exempt Rule 16b-3 transaction. Post-sale, A/N continues to beneficially own 15,673,977 Class B units, maintaining its status as a 10 % owner and board-represented holder.
The filing lists five related reporting persons鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation and Newhouse Family Holdings, L.P.鈥攁ll of whom may be deemed beneficial owners due to their control relationships.
- Transaction size: ~US$59.5 million (150,266 脳 $396.19).
- Ownership impact: Represents roughly 1 % of the group鈥檚 prior derivative position, indicating continued large strategic stake.
- Structure: Sale executed back to Charter under existing exchange/repurchase arrangements first established in May 2016 and refined in December 2016.
Investors typically monitor insider sales by large shareholders for sentiment signals; however, the exempt nature and modest percentage of holdings suggest the move could be tied to liquidity or company capital-return mechanics rather than a change in strategic outlook.
La dichiarazione Form 4 di Charter Communications, Inc. (CHTR) datata 07/07/2025 rivela una transazione significativa da parte dell'azionista di controllo Advance/Newhouse Partnership (A/N) e delle entit脿 correlate Newhouse. Il 03/07/2025 A/N ha ceduto 150.266 Unit脿 di Classe B di Charter Communications Holdings, LLC鈥攗n titolo derivato convertibile uno a uno in azioni di Classe A di Charter鈥攁 un prezzo di $396,19 per unit脿. Le unit脿 sono state vendute direttamente all'emittente in un'operazione esente ai sensi della regola 16b-3. Dopo la vendita, A/N detiene ancora beneficiariamente 15.673.977 unit脿 di Classe B, mantenendo lo status di proprietario del 10% e rappresentante nel consiglio di amministrazione.
La dichiarazione elenca cinque soggetti correlati che effettuano la segnalazione鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation e Newhouse Family Holdings, L.P.鈥攖utti considerati beneficiari per via delle relazioni di controllo.
- Dimensione della transazione: circa 59,5 milioni di dollari USA (150.266 脳 $396,19).
- Impatto sulla propriet脿: rappresenta circa l'1% della posizione derivata precedente del gruppo, indicando il mantenimento di una significativa partecipazione strategica.
- Struttura: vendita effettuata nuovamente a Charter nell'ambito di accordi di scambio/riacquisto esistenti, stabiliti originariamente a maggio 2016 e perfezionati a dicembre 2016.
Gli investitori solitamente monitorano le vendite interne da parte di grandi azionisti come segnali di sentiment; tuttavia, la natura esente e la modesta percentuale di partecipazione suggeriscono che l'operazione possa essere legata a esigenze di liquidit脿 o a meccanismi di restituzione di capitale da parte della societ脿, piuttosto che a un cambiamento nella strategia.
La presentaci贸n del Formulario 4 de Charter Communications, Inc. (CHTR) con fecha 07/07/2025 revela una transacci贸n material de un accionista controlador, Advance/Newhouse Partnership (A/N), y entidades relacionadas de Newhouse. El 03/07/2025, A/N dispon铆a de 150,266 Unidades Comunes Clase B de Charter Communications Holdings, LLC, un valor derivado canjeable uno a uno por acciones Clase A de Charter鈥攁 un precio de $396.19 por unidad. Las unidades fueron vendidas directamente al emisor en una transacci贸n exenta bajo la regla 16b-3. Tras la venta, A/N contin煤a beneficiariamente poseyendo 15,673,977 unidades Clase B, manteniendo su condici贸n de propietario del 10 % y representante en la junta directiva.
La presentaci贸n enumera cinco personas relacionadas que reportan鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation y Newhouse Family Holdings, L.P.鈥攖odas consideradas propietarios beneficiarios debido a sus relaciones de control.
- Tama帽o de la transacci贸n: aproximadamente 59.5 millones de d贸lares estadounidenses (150,266 脳 $396.19).
- Impacto en la propiedad: representa aproximadamente el 1 % de la posici贸n derivada previa del grupo, indicando una participaci贸n estrat茅gica significativa y continua.
- Estructura: venta ejecutada de vuelta a Charter bajo acuerdos existentes de intercambio/repurchase establecidos inicialmente en mayo de 2016 y refinados en diciembre de 2016.
Los inversionistas suelen monitorear las ventas internas de grandes accionistas como se帽ales de sentimiento; sin embargo, la naturaleza exenta y el modesto porcentaje de participaci贸n sugieren que la operaci贸n podr铆a estar vinculada a la liquidez o a mecanismos de retorno de capital de la empresa, en lugar de un cambio en la estrategia.
2025雲� 7鞗� 7鞚检瀽 Charter Communications, Inc. (CHTR)鞚� Form 4 鞝滌稖靹滊姅 雽�欤检＜鞚� Advance/Newhouse Partnership (A/N) 氚� 甏�霠� Newhouse 瓿勳棿靷摛鞚� 欷戩殧頃� 雮措秬鞛� 瓯半灅毳� 瓿店皽頃╇媹雼�. 2025雲� 7鞗� 3鞚� A/N鞚� Charter Communications Holdings, LLC鞚� 韥措灅鞀� B 氤错喌欤� 150,266 雼渼毳� 觳橂秳頄堨溂氅�, 鞚� 韺岇儩 歃濌秾鞚� Charter 韥措灅鞀� A 欤检嫕瓿� 1:1搿� 甑愴櫂 臧�電ロ暕雼堧嫟. 雼渼雼� 臧�瓴╈潃 $396.19鞓�鞀惦媹雼�. 頃措嫻 雼渼霌れ潃 氅挫牅霅� Rule 16b-3 瓯半灅搿� 氚滍枆靷棎 歆侅爲 毵る弰霅橃棃鞀惦媹雼�. 毵る弰 頉勳棎霃� A/N鞚� 15,673,977 韥措灅鞀� B 雼渼毳� 瓿勳啀頃挫劀 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 10% 靻岇湢欤检澊鞛� 鞚挫偓須� 雽�響� 歆�鞙勲ゼ 鞙犾頃橁碃 鞛堨姷雼堧嫟.
鞝滌稖靹滌棎電� 雼れ劘 氇呾潣 甏�霠� 氤搓碃鞛愱皜 氇呾嫓霅橃柎 鞛堧姅雿扳�擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation, Newhouse Family Holdings, L.P.鈥旊霊� 歆�氚� 甏�瓿勲 鞚疙暣 鞁れ 靻岇湢欤茧 臧勳＜霅� 靾� 鞛堨姷雼堧嫟.
- 瓯半灅 攴滊: 鞎� 5,950毵� 雼煬 (150,266 脳 $396.19).
- 靻岇湢甓� 鞓來枼: 攴鸽９鞚� 鞚挫爠 韺岇儩 韽靺橃潣 鞎� 1%鞐� 頃措嫻頃橂┌, 鞐爠頌� 韥� 鞝勲灥鞝� 歆�攵勳潉 鞙犾頃潉 雮橅儉雰呺媹雼�.
- 甑“: 2016雲� 5鞗� 斓滌磮 靹れ爼霅橁碃 2016雲� 12鞗旍棎 臁办爼霅� 旮办〈 甑愴櫂/鞛Г鞛� 瓿勳暯鞐� 霐半澕 Charter鞐� 鞛Г霃勲悳 瓯半灅鞛呺媹雼�.
韴瀽鞛愲摛鞚� 鞚茧皹鞝侅溂搿� 雽�欤检＜霌れ潣 雮措秬鞛� 毵る弰毳� 鞁Μ 鞁犿樃搿� 氇媹韯半頃橃毵�, 氅挫牅 瓯半灅鞚� 靹标博瓿� 氤挫湢 歆�攵勳潣 鞝侅潃 牍勳湪鞚� 瓿犽牑頃� 霑� 鞚措矆 瓯半灅電� 鞝勲灥鞝� 氤�頇旊炒雼る姅 鞙犽彊靹� 頇曤炒雮� 須岇偓鞚� 鞛愲掣 頇橃洂 氅旍护雼堨瓿� 甏�霠悳 瓴冹溂搿� 氤挫瀰雼堧嫟.
Le d茅p么t du formulaire 4 de Charter Communications, Inc. (CHTR) dat茅 du 07/07/2025 r茅v猫le une transaction importante d'initi茅 par l'actionnaire majoritaire Advance/Newhouse Partnership (A/N) et les entit茅s li茅es Newhouse. Le 03/07/2025, A/N a c茅d茅 150 266 unit茅s de Classe B de Charter Communications Holdings, LLC鈥攗n titre d茅riv茅 茅changeable un pour un contre des actions de Classe A de Charter鈥攁u prix de 396,19 $ par unit茅. Les unit茅s ont 茅t茅 vendues directement 脿 l'茅metteur dans le cadre d'une transaction exon茅r茅e selon la r猫gle 16b-3. Apr猫s la vente, A/N d茅tient toujours b茅n茅ficiairement 15 673 977 unit茅s de Classe B, conservant son statut de d茅tenteur de 10 % et repr茅sentant au conseil d'administration.
Le d茅p么t mentionne cinq personnes li茅es d茅clarantes鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation et Newhouse Family Holdings, L.P.鈥攓ui peuvent toutes 锚tre consid茅r茅es comme propri茅taires b茅n茅ficiaires en raison de leurs relations de contr么le.
- Taille de la transaction : environ 59,5 millions de dollars US (150 266 脳 396,19 $).
- Impact sur la propri茅t茅 : repr茅sente environ 1 % de la position d茅riv茅e ant茅rieure du groupe, indiquant une participation strat茅gique importante et continue.
- Structure : vente r茅alis茅e en retour 脿 Charter dans le cadre d'accords d'茅change/rachat existants, initialement 茅tablis en mai 2016 et affin茅s en d茅cembre 2016.
Les investisseurs surveillent g茅n茅ralement les ventes d'initi茅s par les grands actionnaires comme des signaux de sentiment ; cependant, la nature exon茅r茅e et le faible pourcentage de d茅tention sugg猫rent que cette op茅ration pourrait 锚tre li茅e 脿 des besoins de liquidit茅 ou 脿 des m茅canismes de retour de capital de la soci茅t茅 plut么t qu'脿 un changement de strat茅gie.
Das Form 4-Meldeformular von Charter Communications, Inc. (CHTR) vom 07.07.2025 offenbart eine wesentliche Insider-Transaktion des Mehrheitsaktion盲rs Advance/Newhouse Partnership (A/N) und der zugeh枚rigen Newhouse-Gesellschaften. Am 03.07.2025 hat A/N 150.266 Class B Common Units von Charter Communications Holdings, LLC ver盲u脽ert 鈥� ein derivates Wertpapier, das eins zu eins in Charter Class A Aktien umgewandelt werden kann 鈥� zu einem Preis von 396,19 $ pro Einheit. Die Einheiten wurden direkt an den Emittenten verkauft im Rahmen einer von Rule 16b-3 ausgenommenen Transaktion. Nach dem Verkauf h盲lt A/N weiterhin 15.673.977 Class B Units im wirtschaftlichen Eigentum und beh盲lt damit seinen Status als 10 % Eigent眉mer und im Vorstand vertretene Partei.
Die Meldung listet f眉nf damit verbundene meldepflichtige Personen auf 鈥� Advance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation und Newhouse Family Holdings, L.P. 鈥� die aufgrund ihrer Kontrollbeziehungen als wirtschaftliche Eigent眉mer gelten k枚nnen.
- 罢谤补苍蝉补办迟颈辞苍蝉驳谤枚脽别: ca. 59,5 Mio. US-Dollar (150.266 脳 396,19 $).
- Auswirkung auf Eigentum: Entspricht etwa 1 % der vorherigen derivativen Position der Gruppe und zeigt eine weiterhin bedeutende strategische Beteiligung an.
- Struktur: Verkauf wurde zur眉ck an Charter im Rahmen bestehender Austausch-/R眉ckkaufvereinbarungen durchgef眉hrt, die erstmals im Mai 2016 eingerichtet und im Dezember 2016 verfeinert wurden.
Investoren beobachten Insider-Verk盲ufe gro脽er Aktion盲re oft als Stimmungsindikatoren; die ausgenommene Natur und der geringe Anteil der gehaltenen Anteile deuten jedoch darauf hin, dass die Transaktion eher mit Liquidit盲tsbed眉rfnissen oder Kapitalr眉ckf眉hrungsmechanismen des Unternehmens zusammenh盲ngt als mit einer 脛nderung der strategischen Ausrichtung.
- Share-count benefit: Units were sold to the issuer, marginally reducing potential dilution for existing shareholders.
- Continued insider alignment: Reporting persons still hold 15.67 M units and remain directors, indicating ongoing strategic commitment.
- Insider selling signal: Disposal of ~US$59.5 M worth of equity may raise sentiment concerns despite small percentage of holdings.
Insights
TL;DR 鈥� Large holder sells ~US$60 M in units back to Charter; stake remains sizable, impact modest.
The Newhouse entities trimmed just 150 k units鈥攁bout 0.96 % of their 15.8 M derivative holdings. Because the transaction was structured as an issuer repurchase under Rule 16b-3, it slightly reduces potential future dilution and signals Charter鈥檚 willingness to deploy capital toward buybacks. The filing does not indicate any change in governance roles; the parties retain director seats and 10 % owner status. From a valuation perspective, the dollar amount is immaterial relative to Charter鈥檚 >US$50 B market cap, so I view the disclosure as neutral for equity value in the near term.
TL;DR 鈥� Minor insider sale, exempt Rule 16b-3, maintains alignment; governance risk unchanged.
The Newhouse family retains dominant influence despite this sale. Because shares were surrendered to the company, the public float and voting dynamics are effectively untouched. The consistent use of structured exchange agreements since 2016 demonstrates transparency and compliance. I classify the governance impact as not impactful; no red flags emerge regarding control, disclosure quality, or potential conflicts.
La dichiarazione Form 4 di Charter Communications, Inc. (CHTR) datata 07/07/2025 rivela una transazione significativa da parte dell'azionista di controllo Advance/Newhouse Partnership (A/N) e delle entit脿 correlate Newhouse. Il 03/07/2025 A/N ha ceduto 150.266 Unit脿 di Classe B di Charter Communications Holdings, LLC鈥攗n titolo derivato convertibile uno a uno in azioni di Classe A di Charter鈥攁 un prezzo di $396,19 per unit脿. Le unit脿 sono state vendute direttamente all'emittente in un'operazione esente ai sensi della regola 16b-3. Dopo la vendita, A/N detiene ancora beneficiariamente 15.673.977 unit脿 di Classe B, mantenendo lo status di proprietario del 10% e rappresentante nel consiglio di amministrazione.
La dichiarazione elenca cinque soggetti correlati che effettuano la segnalazione鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation e Newhouse Family Holdings, L.P.鈥攖utti considerati beneficiari per via delle relazioni di controllo.
- Dimensione della transazione: circa 59,5 milioni di dollari USA (150.266 脳 $396,19).
- Impatto sulla propriet脿: rappresenta circa l'1% della posizione derivata precedente del gruppo, indicando il mantenimento di una significativa partecipazione strategica.
- Struttura: vendita effettuata nuovamente a Charter nell'ambito di accordi di scambio/riacquisto esistenti, stabiliti originariamente a maggio 2016 e perfezionati a dicembre 2016.
Gli investitori solitamente monitorano le vendite interne da parte di grandi azionisti come segnali di sentiment; tuttavia, la natura esente e la modesta percentuale di partecipazione suggeriscono che l'operazione possa essere legata a esigenze di liquidit脿 o a meccanismi di restituzione di capitale da parte della societ脿, piuttosto che a un cambiamento nella strategia.
La presentaci贸n del Formulario 4 de Charter Communications, Inc. (CHTR) con fecha 07/07/2025 revela una transacci贸n material de un accionista controlador, Advance/Newhouse Partnership (A/N), y entidades relacionadas de Newhouse. El 03/07/2025, A/N dispon铆a de 150,266 Unidades Comunes Clase B de Charter Communications Holdings, LLC, un valor derivado canjeable uno a uno por acciones Clase A de Charter鈥攁 un precio de $396.19 por unidad. Las unidades fueron vendidas directamente al emisor en una transacci贸n exenta bajo la regla 16b-3. Tras la venta, A/N contin煤a beneficiariamente poseyendo 15,673,977 unidades Clase B, manteniendo su condici贸n de propietario del 10 % y representante en la junta directiva.
La presentaci贸n enumera cinco personas relacionadas que reportan鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation y Newhouse Family Holdings, L.P.鈥攖odas consideradas propietarios beneficiarios debido a sus relaciones de control.
- Tama帽o de la transacci贸n: aproximadamente 59.5 millones de d贸lares estadounidenses (150,266 脳 $396.19).
- Impacto en la propiedad: representa aproximadamente el 1 % de la posici贸n derivada previa del grupo, indicando una participaci贸n estrat茅gica significativa y continua.
- Estructura: venta ejecutada de vuelta a Charter bajo acuerdos existentes de intercambio/repurchase establecidos inicialmente en mayo de 2016 y refinados en diciembre de 2016.
Los inversionistas suelen monitorear las ventas internas de grandes accionistas como se帽ales de sentimiento; sin embargo, la naturaleza exenta y el modesto porcentaje de participaci贸n sugieren que la operaci贸n podr铆a estar vinculada a la liquidez o a mecanismos de retorno de capital de la empresa, en lugar de un cambio en la estrategia.
2025雲� 7鞗� 7鞚检瀽 Charter Communications, Inc. (CHTR)鞚� Form 4 鞝滌稖靹滊姅 雽�欤检＜鞚� Advance/Newhouse Partnership (A/N) 氚� 甏�霠� Newhouse 瓿勳棿靷摛鞚� 欷戩殧頃� 雮措秬鞛� 瓯半灅毳� 瓿店皽頃╇媹雼�. 2025雲� 7鞗� 3鞚� A/N鞚� Charter Communications Holdings, LLC鞚� 韥措灅鞀� B 氤错喌欤� 150,266 雼渼毳� 觳橂秳頄堨溂氅�, 鞚� 韺岇儩 歃濌秾鞚� Charter 韥措灅鞀� A 欤检嫕瓿� 1:1搿� 甑愴櫂 臧�電ロ暕雼堧嫟. 雼渼雼� 臧�瓴╈潃 $396.19鞓�鞀惦媹雼�. 頃措嫻 雼渼霌れ潃 氅挫牅霅� Rule 16b-3 瓯半灅搿� 氚滍枆靷棎 歆侅爲 毵る弰霅橃棃鞀惦媹雼�. 毵る弰 頉勳棎霃� A/N鞚� 15,673,977 韥措灅鞀� B 雼渼毳� 瓿勳啀頃挫劀 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 10% 靻岇湢欤检澊鞛� 鞚挫偓須� 雽�響� 歆�鞙勲ゼ 鞙犾頃橁碃 鞛堨姷雼堧嫟.
鞝滌稖靹滌棎電� 雼れ劘 氇呾潣 甏�霠� 氤搓碃鞛愱皜 氇呾嫓霅橃柎 鞛堧姅雿扳�擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation, Newhouse Family Holdings, L.P.鈥旊霊� 歆�氚� 甏�瓿勲 鞚疙暣 鞁れ 靻岇湢欤茧 臧勳＜霅� 靾� 鞛堨姷雼堧嫟.
- 瓯半灅 攴滊: 鞎� 5,950毵� 雼煬 (150,266 脳 $396.19).
- 靻岇湢甓� 鞓來枼: 攴鸽９鞚� 鞚挫爠 韺岇儩 韽靺橃潣 鞎� 1%鞐� 頃措嫻頃橂┌, 鞐爠頌� 韥� 鞝勲灥鞝� 歆�攵勳潉 鞙犾頃潉 雮橅儉雰呺媹雼�.
- 甑“: 2016雲� 5鞗� 斓滌磮 靹れ爼霅橁碃 2016雲� 12鞗旍棎 臁办爼霅� 旮办〈 甑愴櫂/鞛Г鞛� 瓿勳暯鞐� 霐半澕 Charter鞐� 鞛Г霃勲悳 瓯半灅鞛呺媹雼�.
韴瀽鞛愲摛鞚� 鞚茧皹鞝侅溂搿� 雽�欤检＜霌れ潣 雮措秬鞛� 毵る弰毳� 鞁Μ 鞁犿樃搿� 氇媹韯半頃橃毵�, 氅挫牅 瓯半灅鞚� 靹标博瓿� 氤挫湢 歆�攵勳潣 鞝侅潃 牍勳湪鞚� 瓿犽牑頃� 霑� 鞚措矆 瓯半灅電� 鞝勲灥鞝� 氤�頇旊炒雼る姅 鞙犽彊靹� 頇曤炒雮� 須岇偓鞚� 鞛愲掣 頇橃洂 氅旍护雼堨瓿� 甏�霠悳 瓴冹溂搿� 氤挫瀰雼堧嫟.
Le d茅p么t du formulaire 4 de Charter Communications, Inc. (CHTR) dat茅 du 07/07/2025 r茅v猫le une transaction importante d'initi茅 par l'actionnaire majoritaire Advance/Newhouse Partnership (A/N) et les entit茅s li茅es Newhouse. Le 03/07/2025, A/N a c茅d茅 150 266 unit茅s de Classe B de Charter Communications Holdings, LLC鈥攗n titre d茅riv茅 茅changeable un pour un contre des actions de Classe A de Charter鈥攁u prix de 396,19 $ par unit茅. Les unit茅s ont 茅t茅 vendues directement 脿 l'茅metteur dans le cadre d'une transaction exon茅r茅e selon la r猫gle 16b-3. Apr猫s la vente, A/N d茅tient toujours b茅n茅ficiairement 15 673 977 unit茅s de Classe B, conservant son statut de d茅tenteur de 10 % et repr茅sentant au conseil d'administration.
Le d茅p么t mentionne cinq personnes li茅es d茅clarantes鈥擜dvance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation et Newhouse Family Holdings, L.P.鈥攓ui peuvent toutes 锚tre consid茅r茅es comme propri茅taires b茅n茅ficiaires en raison de leurs relations de contr么le.
- Taille de la transaction : environ 59,5 millions de dollars US (150 266 脳 396,19 $).
- Impact sur la propri茅t茅 : repr茅sente environ 1 % de la position d茅riv茅e ant茅rieure du groupe, indiquant une participation strat茅gique importante et continue.
- Structure : vente r茅alis茅e en retour 脿 Charter dans le cadre d'accords d'茅change/rachat existants, initialement 茅tablis en mai 2016 et affin茅s en d茅cembre 2016.
Les investisseurs surveillent g茅n茅ralement les ventes d'initi茅s par les grands actionnaires comme des signaux de sentiment ; cependant, la nature exon茅r茅e et le faible pourcentage de d茅tention sugg猫rent que cette op茅ration pourrait 锚tre li茅e 脿 des besoins de liquidit茅 ou 脿 des m茅canismes de retour de capital de la soci茅t茅 plut么t qu'脿 un changement de strat茅gie.
Das Form 4-Meldeformular von Charter Communications, Inc. (CHTR) vom 07.07.2025 offenbart eine wesentliche Insider-Transaktion des Mehrheitsaktion盲rs Advance/Newhouse Partnership (A/N) und der zugeh枚rigen Newhouse-Gesellschaften. Am 03.07.2025 hat A/N 150.266 Class B Common Units von Charter Communications Holdings, LLC ver盲u脽ert 鈥� ein derivates Wertpapier, das eins zu eins in Charter Class A Aktien umgewandelt werden kann 鈥� zu einem Preis von 396,19 $ pro Einheit. Die Einheiten wurden direkt an den Emittenten verkauft im Rahmen einer von Rule 16b-3 ausgenommenen Transaktion. Nach dem Verkauf h盲lt A/N weiterhin 15.673.977 Class B Units im wirtschaftlichen Eigentum und beh盲lt damit seinen Status als 10 % Eigent眉mer und im Vorstand vertretene Partei.
Die Meldung listet f眉nf damit verbundene meldepflichtige Personen auf 鈥� Advance/Newhouse Partnership, Advance Long-Term Management Trust, Advance Publications, Inc., Newhouse Broadcasting Corporation und Newhouse Family Holdings, L.P. 鈥� die aufgrund ihrer Kontrollbeziehungen als wirtschaftliche Eigent眉mer gelten k枚nnen.
- 罢谤补苍蝉补办迟颈辞苍蝉驳谤枚脽别: ca. 59,5 Mio. US-Dollar (150.266 脳 396,19 $).
- Auswirkung auf Eigentum: Entspricht etwa 1 % der vorherigen derivativen Position der Gruppe und zeigt eine weiterhin bedeutende strategische Beteiligung an.
- Struktur: Verkauf wurde zur眉ck an Charter im Rahmen bestehender Austausch-/R眉ckkaufvereinbarungen durchgef眉hrt, die erstmals im Mai 2016 eingerichtet und im Dezember 2016 verfeinert wurden.
Investoren beobachten Insider-Verk盲ufe gro脽er Aktion盲re oft als Stimmungsindikatoren; die ausgenommene Natur und der geringe Anteil der gehaltenen Anteile deuten jedoch darauf hin, dass die Transaktion eher mit Liquidit盲tsbed眉rfnissen oder Kapitalr眉ckf眉hrungsmechanismen des Unternehmens zusammenh盲ngt als mit einer 脛nderung der strategischen Ausrichtung.
FAQ
How many Charter (CHTR) units did Advance/Newhouse sell?
What price was received for the units?
Who purchased the units from the insider?
How many derivative units does the Newhouse group still own?
Does this filing indicate any change in board roles or ownership status?
What is the significance of Rule 16b-3 in this context?
