Warner Bros. Discovery (NASDAQ: WBD) director Noto paid in shares

Rhea-AI Filing Summary

Noto Anthony reported acquisition or exercise transactions in this Form 4 filing.

Warner Bros. Discovery director Anthony Noto received 1,063 shares of Series A Common Stock as compensation. The shares were granted at a reported price of $0.00 per share, reflecting a stock award rather than a market purchase.

According to the footnote, Mr. Noto elected to take common stock instead of his quarterly cash retainer for board service. After this award, he directly holds 43,298 shares of Warner Bros. Discovery common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Noto Anthony

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Series A Common Stock	1,063	$0.00	--

Holdings After Transaction: Series A Common Stock — 43,298 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 1,063 shares Grant price: $0.00 per share Shares held after: 43,298 shares

3 metrics

Shares granted 1,063 shares Grant of Series A Common Stock as director compensation

Grant price $0.00 per share Reported transaction price for the stock award

Shares held after 43,298 shares Director Anthony Noto’s direct holdings following the grant

Key Terms

Series A Common Stock, grant/award acquisition, quarterly cash retainer

3 terms

Series A Common Stock financial

"security_title: "Series A Common Stock""

grant/award acquisition financial

"transaction_action: "grant/award acquisition""

quarterly cash retainer financial

"in lieu of quarterly cash retainer in respect of his services"

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Noto Anthony

(Last) (First) (Middle)

230 PARK AVENUE SOUTH

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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

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

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

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	03/27/2026		A		1,063(1)	A	$0	43,298	D

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:

1. Mr. Noto elected to receive shares of common stock in lieu of quarterly cash retainer in respect of his services as a director.

Remarks:

	Tara L. Smith, by power of attorney	03/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Anthony Noto report at Warner Bros. Discovery (WBD)?

Anthony Noto reported receiving 1,063 shares of Series A Common Stock. This was classified as a grant or award, not an open-market trade, and reflects stock-based compensation for his role as a director at Warner Bros. Discovery.

Was Anthony Noto’s latest WBD Form 4 a stock purchase or a grant?

The Form 4 shows a stock grant to Anthony Noto, not a market purchase. The 1,063 Series A Common shares were awarded at a reported price of $0.00 per share as compensation in lieu of his quarterly cash retainer for board service.

How many Warner Bros. Discovery (WBD) shares does Anthony Noto hold after this transaction?

After the grant, Anthony Noto directly holds 43,298 shares of Warner Bros. Discovery Series A Common Stock. This figure includes the 1,063 shares received as compensation in the reported transaction and represents his direct ownership position following the award.

Why did Anthony Noto receive Warner Bros. Discovery shares instead of cash?

According to the footnote, Anthony Noto elected to receive common stock instead of his quarterly cash retainer. This means his director compensation for that period was paid in 1,063 Series A Common shares rather than in cash, aligning pay with equity.

Does Anthony Noto’s WBD Form 4 filing indicate any stock sales?

The filing does not report any stock sales by Anthony Noto. It shows a single acquisition coded as a grant or award of 1,063 Series A Common shares, increasing his direct holdings to 43,298 shares with no dispositions reported in this transaction.