Performance awards lift Warner Bros. Discovery (WBD) executive share stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Warner Bros. Discovery, Inc. Chief Revenue & Strategy Officer Bruce Campbell reported stock awards tied to prior performance goals. On 2/24/2026 he acquired 270,728 Series A shares at no cost from a 3/1/2023 performance-based PRSU grant after total shareholder return targets lifted the payout to 199.5% of target. He also acquired 455,064 Series A shares at no cost from a 3/1/2024 PRSU grant after 2024–2025 free cash flow performance was certified at 200% of target. Following these grants, he directly held over 1.5 million Series A shares, with additional indirect holdings reported through a grantor retained annuity trust LLC and a trust for his children.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Campbell Bruce
Role
Chief Rev & Strategy Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series A Common Stock | 270,728 | $0.00 | -- |
| Grant/Award | Series A Common Stock | 455,064 | $0.00 | -- |
| holding | Series A Common Stock | -- | -- | -- |
| holding | Series A Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Common Stock — 1,091,140 shares (Direct);
Series A Common Stock — 145,418 shares (Indirect, By LLC through grantor retained annuity trust)
Footnotes (1)
- These shares represent PRSUs originally granted to the reporting person ("RP") on 3/1/2023. On 2/26/2024, based on WBD's 2023 free cash flow performance, the WBD Compensation Committee ("CC") determined that target performance had been achieved and the RP filed a Form 4 reporting 272,088 shares (100% of target) as earned. This 3/1/2023 grant was also subject to a 3-year TSR modifier. On 2/24/2026, based on WBD's TSR performance relative to the S&P 500 M&E Index over the 2023-2025 period, the CC certified that the 3/1/2023 grant should vest at 199.5% of target (for an aggregate of 542,816 shares). This Form 4 is reporting the incremental 270,728 shares as earned. These shares represent PRSUs granted to the RP on 3/1/2024 and were earned based solely on WBD's 2024 and 2025 free cash flow ("FCF") performance in relation to a pre-established target. On 2/24/2026, the CC certified that WBD's 2025 FCF performance was significantly above the established target, resulting in these PRSUs being earned at 200% of target.
FAQ
What did Bruce Campbell report in this Warner Bros. Discovery (WBD) Form 4?
Bruce Campbell reported stock awards that increased his holdings of Warner Bros. Discovery Series A Common Stock. He received two large performance-based share grants at no cost after the compensation committee certified that specific free cash flow and total shareholder return targets had been achieved.
What performance metrics triggered Bruce Campbell’s WBD PRSU awards?
The 3/1/2023 PRSUs depended on 2023 free cash flow and a three‑year total shareholder return modifier versus the S&P 500 Media & Entertainment Index. The 3/1/2024 PRSUs were earned solely on 2024 and 2025 free cash flow performance relative to a pre‑established target approved by the compensation committee.
At what levels were Bruce Campbell’s Warner Bros. Discovery PRSUs earned?
The 3/1/2023 grant was certified to vest at 199.5% of target, producing an aggregate 542,816 shares, with this Form 4 showing 270,728 incremental shares. The 3/1/2024 PRSUs were certified at 200% of target, resulting in an additional 455,064 Series A shares being earned.