Bruce Campbell (WBD) gets stock grant; shares withheld to cover taxes

Rhea-AI Filing Summary

Warner Bros. Discovery, Inc. executive Bruce Campbell reported compensatory and tax-related share movements in Series A Common Stock. On March 2, 2026, he acquired 165,957 shares through a grant or award at $0.00 per share, bringing his direct holdings to 1,247,015 shares.

On February 27, 2026, 465,146 shares were disposed of at $28.17 per share to cover an exercise price or tax liability, with direct ownership then reported at 1,081,058 shares. Indirect holdings were also reported as 209,700 shares held by a spouse as trustee for children and 145,418 shares held by an LLC through a grantor retained annuity trust.

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

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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)
02/27/2026

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	02/27/2026		F		465,146	D	$28.17	1,081,058	D
Series A Common Stock	03/02/2026		A		165,957	A	$0	1,247,015	D
Series A Common Stock								209,700	I	By spouse as trustee for children
Series A Common Stock								145,418	I	By LLC through grantor retained annuity trust

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, Attorney-in-Fact	03/03/2026
	** 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 WBD executive Bruce Campbell report on this Form 4?

Bruce Campbell reported a stock award and a tax-related share disposition. He received 165,957 Series A Common shares as a grant, and 465,146 shares were disposed of at $28.17 per share to satisfy an exercise price or tax liability.

How many Warner Bros. Discovery (WBD) shares did Bruce Campbell acquire?

Bruce Campbell acquired 165,957 Series A Common shares. The acquisition occurred on March 2, 2026 as a grant or award at $0.00 per share, increasing his directly owned stake in Warner Bros. Discovery to a reported 1,247,015 shares following that transaction.

Why were 465,146 WBD shares disposed of in Bruce Campbells Form 4?

465,146 shares were disposed of for tax or exercise-price purposes. The filing describes this as a payment of an exercise price or tax liability by delivering securities, at a price of $28.17 per share, rather than as an open-market sale transaction.

What is Bruce Campbells direct ownership in WBD after these transactions?

Direct ownership is reported at 1,247,015 shares after the award. Following the March 2, 2026 grant of 165,957 shares, the Form 4 states that Bruce Campbell directly owns 1,247,015 shares of Warner Bros. Discovery Series A Common Stock.

What indirect Warner Bros. Discovery holdings are associated with Bruce Campbell?

The filing reports two categories of indirect WBD holdings. It lists 209,700 shares held by his spouse as trustee for children and 145,418 shares held by an LLC through a grantor retained annuity trust, both reported as indirect ownership positions.

Does this WBD Form 4 show open-market buying or selling by Bruce Campbell?

The reported transactions are a stock grant and tax-related disposition. One entry is an award of 165,957 shares at no cost, and another is a 465,146-share disposition to cover exercise or tax obligations, rather than a discretionary open-market purchase or sale.