Form 4 for WBD Warner Bros. Discovery
Accepted 2026-07-15 17:05:06 ET · period of report 2026-07-13 · accession 0001318285-26-000013 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DT | 2026-07-15 17:05 | 2026-07-13 | WBD | Zaslav David | CEO, Pres, Dir | M - OptEx | $10.16 | +2.09M | 9.09M | +30% | +$21.23M |
| DMT | 2026-07-15 17:05 | 2026-07-13 | WBD | Zaslav David | CEO, Pres, Dir | S - Sale+OE | $27.22 | -2.18M | 6.90M | -24% | -$59.47M |
| DT | 2026-07-15 17:05 | 2026-07-13 | WBD | Zaslav David | CEO, Pres, Dir | M - OptEx | $0.00 | -2.09M | 18.81M | -10% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Series A Common Stock | 2026-07-13 | M | A | 2,089,876 | $10.16 | 9,087,622 | D | — | — | (F1) As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. |
| 2 | Common | Series A Common Stock | 2026-07-13 | S | D | 2,089,876 | $27.22 | 6,997,746 | D | — | — | (F1) As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. (F2) The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.00 to $27.59 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. |
| 3 | Common | Series A Common Stock | 2026-07-13 | S | D | 94,906 | $27.22 | 6,902,840 | D | — | — | (F1) As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. (F2) The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.00 to $27.59 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. |
| 4 | Derivative | Employee Stock Option | 2026-07-13 | M | D | 2,089,876 | $0.00 | 18,808,900 | D | $10.16 · 2026-06-12 to 2032-06-12 | 2,089,876 Series A Common Stock | (F1) As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. (F3) Options reported herein were part of a grant made on 6/12/2025 pursuant to Mr. Zaslav's Employment Agreement dated 6/12/2025, as amended on 11/7/2025 ("2025 EA"). The total grant consisted of 20,898,776 options exercisable in five equal annual installments beginning on 6/12/2026. Because the performance-based stock price hurdles that were applicable to 60% of such options were satisfied prior to the date hereof, all options pursuant to such grant are subject only to the foregoing time-based vesting schedule. |