David Zaslav sells 4.0M Warner Bros. Discovery (WBD) shares

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. Chief Executive Officer and President David Zaslav reported an open-market sale of 4,004,149 shares of Series A common stock. The weighted average sale price was $28.26 per share, with individual trades executed between $28.42 and $28.20 per share.

After these transactions, Zaslav directly holds 7,200,627 shares of Series A common stock. In addition, 153 shares are held indirectly and are reported as owned by his spouse.

Insider Trade Summary

Net Seller: 4,004,149 shares ($113,157,251)

Net Sell 2 txns

Insider Zaslav David

Role Chief Executive Officer & Pres

Sold 4,004,149 shs ($113.16M)

Type	Security	Shares	Price	Value
Sale	Series A Common Stock	4,004,149	$28.26	$113.16M
holding	Series A Common Stock	--	--	--

Holdings After Transaction: Series A Common Stock — 7,200,627 shares (Direct); Series A Common Stock — 153 shares (Indirect, Spouse)

Footnotes (1)

1. The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.42 to $28.20 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. Represents WBD Series A common stock.

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^*

Zaslav David

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer & Pres

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

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	03/03/2026		S		4,004,149	D	$28.26(1)	7,200,627	D
Series A Common Stock(2)								153	I	Spouse

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. The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.42 to $28.20 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

2. Represents WBD Series A common stock.

Remarks:

	Tara L. Smith, Attorney-in-Fact	03/05/2026
	** 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.

FAQ

What insider transaction did WBD CEO David Zaslav report?

David Zaslav reported selling 4,004,149 shares of Warner Bros. Discovery Series A common stock in open-market transactions. The filing classifies this as a sale, reflecting a significant reduction in his directly held share count on that transaction date.

At what price did David Zaslav sell his WBD shares?

The reported weighted average sale price was $28.26 per share. Actual trades occurred in multiple transactions, with prices ranging from $28.42 to $28.20, as disclosed, and detailed price-by-price information is available upon request from the company or SEC staff.

How many WBD shares does David Zaslav hold after the sale?

Following the reported sale, David Zaslav directly holds 7,200,627 shares of Warner Bros. Discovery Series A common stock. The filing also notes 153 shares held indirectly, attributed to his spouse, which are reported separately from his direct ownership.

What type of security did WBD’s CEO sell in this Form 4?

The transaction involved Series A common stock of Warner Bros. Discovery, Inc. This is the company’s listed common equity class, and all reported shares in the sale and post-transaction holdings relate specifically to this Series A common stock.

Does David Zaslav report any indirect ownership of WBD shares?

Yes. In addition to his direct holdings, the Form 4 shows 153 shares of Series A common stock reported as indirectly owned. These shares are attributed to his spouse, with the nature of ownership explicitly identified as “Spouse” in the filing.