Warner Bros. Discovery (WBD) insider discloses 9,495-share disposition

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. disclosed an insider equity transaction by its Chief Revenue & Strategy Officer on 12/15/2025. The Form 4 reports a disposition coded "F" of 9,495 shares of Series A Common Stock at $26.08 per share.

After this transaction, the officer reports owning 820,412 shares directly. In addition, there are 209,700 shares held indirectly by the officer's spouse as trustee for children and 145,418 shares held indirectly through an LLC via a grantor retained annuity trust.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Campbell Bruce

(Last) (First) (Middle)

230 PARK AVENUE SOUTH

(Street)

NEW YORK NY 10003

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Warner Bros. Discovery, Inc. [ WBD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Rev & Strategy Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series A Common Stock	12/15/2025		F		9,495	D	$26.08	820,412	D
Series A Common Stock								209,700	I	By spouse as trustee for children
Series A Common Stock								145,418	I	By LLC through grantor retained annuity trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	Tara L. Smith, Attorney-in-Fact	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Warner Bros. Discovery (WBD) report on this Form 4?

The filing reports that the Chief Revenue & Strategy Officer disposed of 9,495 shares of Warner Bros. Discovery Series A Common Stock on 12/15/2025, coded as transaction type "F" at a price of $26.08 per share.

Who is the reporting person in this Warner Bros. Discovery (WBD) Form 4?

The reporting person is an officer of Warner Bros. Discovery, serving as Chief Revenue & Strategy Officer, and the Form 4 is filed for one reporting person.

How many Warner Bros. Discovery (WBD) shares does the officer own after the reported transaction?

Following the reported transaction, the officer beneficially owns 820,412 shares of Series A Common Stock directly.

What indirect holdings of Warner Bros. Discovery (WBD) shares are reported on this Form 4?

The filing reports 209,700 shares held indirectly by the officer's spouse as trustee for children and 145,418 shares held indirectly by an LLC through a grantor retained annuity trust.

What does transaction code "F" indicate in this Warner Bros. Discovery (WBD) Form 4?

The Form 4 lists the disposition of 9,495 shares of Series A Common Stock under transaction code "F"; the code denotes the type of transaction as defined in the Form 4 instructions.

Is this Warner Bros. Discovery (WBD) Form 4 filed for multiple insiders or a single person?

The filing indicates it is a Form filed by one reporting person, not a joint or group filing.