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Warner Bros. Discovery director plans $9.7M sale

A Form 144 notice reports that a Warner Bros. Discovery director plans a potential sale of up to 340,000 Series A shares under Rule 144.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
144

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. (WBD) is the issuer for a planned sale of restricted or control securities disclosed in a Form 144 notice filed for director Anton J. Levy. The notice covers a proposed sale of up to 340,000 Series A shares through Fidelity Brokerage Services LLC on NASDAQ, with an approximate sale date of September 3, 2026. The shares were acquired in prior open market purchases for cash on April 23–24, 2025 and August 11–12, 2025. This filing is a regulatory notice of intent to sell under Rule 144, not a confirmation that any sale has occurred.

Positive

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Negative

  • None.
Proposed shares to be sold 340,000 Series A shares Maximum number of WBD Series A shares covered by the Form 144 notice
Approximate aggregate market value $9,654,204.26 Aggregate market value associated with the 340,000 Series A shares proposed to be sold
Shares outstanding 2,510,703,314 shares Number of WBD shares outstanding referenced in the Form 144 context
Approximate date of sale September 3, 2026 Target date for the proposed sale of Series A shares under the notice
Open market purchase on April 23, 2025 50,000 shares Series A shares acquired for cash on April 23, 2025
Open market purchase on April 24, 2025 75,000 shares Series A shares acquired for cash on April 24, 2025
Open market purchase on August 11, 2025 140,000 shares Series A shares acquired for cash on August 11, 2025
Open market purchase on August 12, 2025 75,000 shares Series A shares acquired for cash on August 12, 2025
Rule 144 regulatory
"See the definition of "person" in paragraph (a) of Rule 144."
Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.
Form 144 regulatory
"144: Filer Information"
Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.
Open Market Purchase financial
"Series A | 08/11/2025 | Open Market Purchase | Issuer"
An open market purchase is when a company buys its own shares on public stock exchanges the same way any investor would, rather than through a private deal. Investors care because these purchases reduce the number of shares available, can boost earnings per share and share price, signal that management thinks the stock is undervalued, and use company cash that might otherwise go to reinvestment or dividends — like a business quietly buying back its own tickets at the box office.
attorney-in-fact regulatory
"as attorney-in-fact for Anton J. Levy."
An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.
aggregate market value financial
"340000 | 9654204.26 | 2510703314 | 09/03/2026"
Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

What does the Form 144 filing for WBD disclose?
It discloses that Anton J. Levy, a director of Warner Bros. Discovery, Inc. (WBD), has filed a Form 144 notice for a proposed sale of restricted or control Series A common shares under Rule 144.

How many WBD shares are covered by this Form 144 notice?
The notice covers a proposed sale of up to 340,000 Series A shares of Warner Bros. Discovery, Inc., to be sold through Fidelity Brokerage Services LLC on NASDAQ, subject to Rule 144 conditions.

When might the WBD shares be sold under this Form 144?
The approximate date of sale stated is September 3, 2026. Form 144 is a notice of intent, so it does not confirm that the sale will occur on that date or in that full amount.

How were the WBD shares in this Form 144 acquired?
The filing states the Series A shares were acquired in open market purchases for cash on April 23, 2025 (50,000 shares), April 24, 2025 (75,000), August 11, 2025 (140,000), and August 12, 2025 (75,000).

Who is executing the potential WBD share sale under this Form 144?
The potential sale is to be executed through Fidelity Brokerage Services LLC. The Form 144 is signed by Joshua Schmitt as a duly authorized representative of Fidelity, acting as attorney-in-fact for Anton J. Levy.

Does this WBD Form 144 mean the director has already sold shares?
No. Form 144 is a notice of proposed sale of restricted or control securities under Rule 144. It reports an intention to sell up to a stated amount, but does not confirm that any sale has taken place.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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144: Filer Information

144: Issuer Information

144: Securities Information



Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold


* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.



Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

144: Remarks and Signature

Source: View Original Filing on SEC EDGAR