Warner Bros. Discovery director sells 6,700 shares

Warner Bros. Discovery director Richard W. Fisher sold 6,700 WBD shares and now holds 52,846 shares directly following the September 11, 2026 transaction.

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. (WBD) director Richard W. Fisher reported selling 6,700 shares of Series A Common Stock on September 11, 2026, in a sale described as an open market or private transaction at $28.06 per share. After this transaction, he held 52,846 shares directly, and no Rule 10b5-1 trading plan is reported for this sale.

Insider Trade Summary

Net Seller: 6,700 shares

Net Sell 1 txn

Insider FISHER RICHARD W

Role Director

Sold 6,700 shs ($188K)

Type	Security	Shares	Price	Value
Sale	Series A Common Stock	6,700	$28.06	$188K

Holdings After Transaction: Series A Common Stock — 52,846 shares (Direct)

Key Figures

Shares sold: 6,700 shares Sale price per share: $28.06 per share Shares held after transaction: 52,846 shares +1 more

4 metrics

Shares sold 6,700 shares Sale of Series A Common Stock on September 11, 2026

Sale price per share $28.06 per share Price for the 6,700 shares sold on September 11, 2026

Shares held after transaction 52,846 shares Direct holdings of Series A Common Stock after the reported sale

Net shares sold in this filing 6,700 shares Net share change across all transactions reported in this Form 4

Key Terms

Series A Common Stock, open market or private transaction, Rule 10b5-1 trading plan

3 terms

Series A Common Stock financial

"The security traded was described as 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.

open market or private transaction financial

"The sale was characterized as an open market or private transaction."

Rule 10b5-1 trading plan financial

"No Rule 10b5-1 trading plan is reported for this transaction."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did WBD director Richard W. Fisher report?

He reported a sale of 6,700 shares of Warner Bros. Discovery Series A Common Stock on September 11, 2026 in a transaction described as an open market or private sale.

At what price did Richard W. Fisher sell Warner Bros. Discovery (WBD) shares?

The reported sale price was $28.06 per share for the 6,700 shares of Series A Common Stock sold on September 11, 2026.

How many Warner Bros. Discovery (WBD) shares does Richard W. Fisher hold after the sale?

After the September 11, 2026 transaction, Richard W. Fisher held 52,846 shares of Warner Bros. Discovery Series A Common Stock directly.

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

No. The filing indicates that no Rule 10b5-1 trading plan is reported for this sale by Richard W. Fisher.

What type of security did Richard W. Fisher trade in Warner Bros. Discovery (WBD)?

He traded Series A Common Stock of Warner Bros. Discovery, Inc., disposing of 6,700 shares in a reported open market or private transaction.

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

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Available on EDGAR 09/14/2026 - 04:32 PM Accepted by SEC EDGAR 09/14/2026 - 04:27 PM Learn about SEC filing dates

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^*

FISHER RICHARD 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

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	09/11/2026		S		6,700	D	$28.06	52,846	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:

Remarks:

	Tara L. Smith, by power of attorney	09/14/2026
	** 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)