Warner Bros. Discovery (WBD) executive sells shares, reports tax withholding

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. Chief Revenue & Strategy Officer Bruce Campbell reported two recent transactions in Series A common stock. On March 9, he completed an open-market sale of 41,784 shares at a weighted average price of $27.82 per share, leaving him with 604,666 shares directly owned.

On March 6, a separate transaction labeled as tax-withholding disposition covered 43,578 shares at $27.95 per share, reflecting shares delivered to satisfy tax obligations rather than an open-market sale.

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

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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^*

Campbell Bruce

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Rev & Strategy Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

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	03/06/2026		F		43,578	D	$27.95	646,450	D
Series A Common Stock	03/09/2026		S		41,784	D	$27.82(1)	604,666	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. The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.82 to $27.84 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.

Remarks:

	Tara L. Smith, Attorney-in-Fact	03/10/2026
	** 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 transactions did Bruce Campbell report for Warner Bros. Discovery (WBD)?

Bruce Campbell reported an open-market sale of 41,784 shares of Series A common stock and a separate 43,578-share tax-withholding disposition. Both transactions involved directly owned shares and were reported in a Form 4 insider filing.

How many Warner Bros. Discovery (WBD) shares did Bruce Campbell sell on the open market?

Bruce Campbell sold 41,784 shares of Warner Bros. Discovery Series A common stock in an open-market transaction at a weighted average price of $27.82 per share, as disclosed in the Form 4 filing.

What was the purpose of the 43,578-share transaction reported by Bruce Campbell at WBD?

The 43,578-share transaction was a tax-withholding disposition, meaning shares were delivered to cover tax obligations rather than sold in the open market. It was reported with transaction code F in the Form 4.

How many Warner Bros. Discovery (WBD) shares does Bruce Campbell hold after these transactions?

After the reported transactions, Bruce Campbell directly holds 604,666 shares of Warner Bros. Discovery Series A common stock. This figure reflects his ownership following the March 9 open-market sale disclosed in the Form 4.

At what prices were Bruce Campbell’s recent Warner Bros. Discovery (WBD) transactions executed?

The open-market sale of 41,784 shares had a weighted average price of $27.82 per share, and the 43,578-share tax-withholding disposition used $27.95 per share, according to the detailed Form 4 disclosure.