STOCK TITAN

Warner Bros. Discovery (WBD) director Kenneth W. Lowe sells 120,000 shares

(Very High)
(Negative)
Form Type
4

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. director Kenneth W. Lowe reported a sale of 120,000 shares of Series A Common Stock on 2026-08-11 at $26.97 per share. Following this sale, he holds 990,108 shares directly and 793 shares indirectly through a family trust, for which he disclaims beneficial ownership beyond his pecuniary interest.

Positive

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Negative

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Insights

Analyzing...

Insider LOWE KENNETH W
Role Director
Sold 120,000 shs ($3.24M)
Type Security Shares Price Value
Sale Series A Common Stock 120,000 $26.97 $3.24M
holding Series A Common Stock F1 -- -- --
Holdings After Transaction: Series A Common Stock — 990,108 shares (Direct); Series A Common Stock — 793 shares (Indirect, By Trust)
Footnotes (1)
  1. F1. The reporting person was appointed trustee of The Lowe Family Trust, UAD 11/16/2006, as amended, on March 17, 2025. The reporting person and members of his family are among the beneficiaries of the trust. The reporting person disclaims beneficial ownership of the Series A common stock held by the trust except to the extent of his pecuniary interest therein.
Shares sold 120,000 shares Sale of Series A Common Stock on 2026-08-11
Sale price $26.97 per share Price for the 120,000-share sale on 2026-08-11
Direct holdings after sale 990,108 shares Series A Common Stock held directly following the reported transaction
Indirect trust holdings 793 shares Series A Common Stock held indirectly by The Lowe Family Trust
Series A Common Stock financial
"The reporting person traded Series A Common Stock."
Series A common stock is a specific class of a company’s ordinary shares issued during an early formal funding round, carrying the ownership rights and voting power tied to that class. For investors it signals an early-stage equity claim with potential upside if the business grows, but also greater risk and typically less liquidity than shares in mature, publicly traded firms—imagine buying a seat on a startup’s team before the company has proven itself.
beneficial ownership financial
"The reporting person disclaims beneficial ownership of the Series A common stock."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"Except to the extent of his pecuniary interest therein."
indirect ownership financial
"Indirect ownership noted as By Trust in the holding entry."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider transaction did WBD director Kenneth W. Lowe report?

Kenneth W. Lowe reported selling 120,000 shares of Warner Bros. Discovery Series A Common Stock on 2026-08-11 at $26.97 per share. After the transaction, he continues to hold a substantial direct and indirect ownership position.

How many Warner Bros. Discovery (WBD) shares does Kenneth W. Lowe hold after this Form 4?

After the reported sale, Kenneth W. Lowe holds 990,108 shares of Warner Bros. Discovery Series A Common Stock directly and 793 shares indirectly through a family trust, according to the Form 4 ownership table and related footnote.

Was Kenneth W. Lowe’s WBD share sale under a Rule 10b5-1 trading plan?

The Rule 10b5-1 checkbox for this Form 4 is not affirmed, indicating the reported 120,000-share sale was not designated as made under a Rule 10b5-1 trading plan based on the filing’s structured data.

What price did Kenneth W. Lowe receive for the WBD shares he sold?

Kenneth W. Lowe’s reported sale of 120,000 shares of Warner Bros. Discovery Series A Common Stock on 2026-08-11 was executed at a price of $26.97 per share, as shown in the non-derivative transaction detail.

How are the trust-held WBD shares reported for Kenneth W. Lowe?

The Form 4 shows 793 shares of Series A Common Stock held indirectly “By Trust”. A footnote states Lowe is trustee, his family are beneficiaries, and he disclaims beneficial ownership except to the extent of his pecuniary interest.
SEC Form 4
FORM 4UNITED 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*
LOWE KENNETH W

(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/11/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Series A Common Stock08/11/2026S120,000D$26.97990,108D
Series A Common Stock793IBy Trust(1)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The reporting person was appointed trustee of The Lowe Family Trust, UAD 11/16/2006, as amended, on March 17, 2025. The reporting person and members of his family are among the beneficiaries of the trust. The reporting person disclaims beneficial ownership of the Series A common stock held by the trust except to the extent of his pecuniary interest therein.
Remarks:
Tara L. Smith, by power of attorney08/12/2026
** Signature of Reporting PersonDate
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)