Warner Bros. Discovery (WBD) director takes 1,340 shares instead of cash

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. director Paula A. Price acquired additional equity in the company through a compensation-related share grant. On March 27, 2026, she received 1,340 shares of Series A Common Stock at no cash cost, electing stock instead of her quarterly cash retainer for board service. Following this grant, she directly holds 94,197 shares of Warner Bros. Discovery common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Price Paula A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Series A Common Stock	1,340	$0.00	--

Holdings After Transaction: Series A Common Stock — 94,197 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 1,340 shares Transaction price: $0.00 per share Shares owned after transaction: 94,197 shares +1 more

4 metrics

Shares granted 1,340 shares Grant of Series A Common Stock on March 27, 2026

Transaction price $0.00 per share Compensation-related grant, not market purchase

Shares owned after transaction 94,197 shares Total direct holdings following the grant

Role Director Paula A. Price serves on the board of directors

Key Terms

Form 4, Series A Common Stock, Grant, award, or other acquisition, quarterly cash retainer, +1 more

5 terms

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Series A Common Stock financial

""security_title": "Series A Common Stock""

Grant, award, or other acquisition financial

""transaction_code_description": "Grant, award, or other acquisition""

quarterly cash retainer financial

"in lieu of a quarterly cash retainer in respect of her services as director"

beneficial ownership financial

""transaction_code_description": "Grant, award, or other acquisition""

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.

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^*

Price Paula A

(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		1,340(1)	A	$0	94,197	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. Ms. Price elected to receive shares of common stock in lieu of a quarterly cash retainer in respect of her services as 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 Warner Bros. Discovery (WBD) disclose for Paula A. Price?

Warner Bros. Discovery disclosed that director Paula A. Price received 1,340 shares of Series A Common Stock as a grant. The shares were issued as compensation, not bought in the market, and increased her direct holdings to 94,197 shares.

Was Paula A. Price’s Warner Bros. Discovery Form 4 transaction a market purchase or a grant?

The Form 4 shows Paula A. Price received a grant of 1,340 shares, coded as a compensation-related acquisition. The transaction price per share was reported as $0.00, indicating stock issued instead of cash, not an open-market purchase.

How many Warner Bros. Discovery shares does Paula A. Price own after this Form 4 transaction?

After the reported transaction, Paula A. Price directly owns 94,197 shares of Warner Bros. Discovery Series A Common Stock. This reflects the addition of 1,340 shares received as compensation in lieu of a quarterly cash retainer for her director services.

Why did Paula A. Price receive Warner Bros. Discovery shares instead of cash?

According to the footnote, Paula A. Price elected to receive common stock rather than a quarterly cash retainer for her director services. This election converted her board cash compensation into equity, aligning part of her pay with Warner Bros. Discovery’s stock performance.

Does Paula A. Price’s Form 4 indicate buying or selling Warner Bros. Discovery shares?

The Form 4 does not show any buying or selling in the market. It reports an acquisition of 1,340 shares through a grant or award, with a transaction price of $0.00 per share, reflecting compensation rather than a discretionary trade.