Director at Warner Bros. Discovery (WBD) gifts 16,345 shares

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. director Debra L. Lee reported a charitable gift of 16,345 shares of Series A Common Stock. The shares were donated to a charitable donor-advised fund and carried no sale price. After this gift, she directly holds 66,806 shares of the stock.

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^*

LEE DEBRA L

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		G		16,345(1)	D	$0	66,806	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. Represents shares of common stock that the reporting person donated as a gift to a charitable donor-advised fund.

Remarks:

	Tara L. Smith, by power of attorney	03/12/2026
	** 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.
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FAQ

What did WBD director Debra L. Lee report in this Form 4?

Debra L. Lee reported a disposition of Warner Bros. Discovery Series A Common Stock. The filing shows she transferred 16,345 shares as a bona fide gift to a charitable donor-advised fund, with no sale price involved in the transaction.

How many Warner Bros. Discovery (WBD) shares were gifted in this transaction?

The Form 4 shows a gift of 16,345 shares of Warner Bros. Discovery Series A Common Stock. These shares were donated to a charitable donor-advised fund, reflecting a non-cash, non-market transfer rather than an open-market purchase or sale of stock.

Was this WBD Form 4 transaction a sale of shares?

No, the transaction was not a sale. The Form 4 lists transaction code G, described as a bona fide gift, with a transaction price of 0.0000 per share, indicating a charitable transfer rather than an open-market sale or purchase of Warner Bros. Discovery stock.

How many WBD shares does Debra L. Lee hold after the reported gift?

After the reported gift transaction, Debra L. Lee directly holds 66,806 shares of Warner Bros. Discovery Series A Common Stock. This post-transaction balance is disclosed in the Form 4 as the total shares owned following the charitable transfer to the donor-advised fund.

Who received the gifted Warner Bros. Discovery (WBD) shares?

The Form 4 footnote states the 16,345 Warner Bros. Discovery shares were donated as a gift to a charitable donor-advised fund. This indicates the shares were directed to a charitable vehicle rather than sold to a buyer in the public market.

Does this WBD Form 4 show any option exercises or derivative transactions?

No derivative activity is reported in this Form 4. The transaction involves only non-derivative Series A Common Stock, and the derivative summary section is empty, indicating there were no option exercises, conversions, or other derivative transactions disclosed in this filing.