Warner Bros. Discovery (WBD) director receives 9,067-share stock grant

Rhea-AI Filing Summary

LEE DEBRA L reported acquisition or exercise transactions in this Form 4 filing.

Warner Bros. Discovery, Inc. reported that director Debra L. Lee received an equity grant of 9,067 shares of Series A Common Stock on June 9, 2026. The award was recorded at a price of $0.00 per share, indicating a compensation-related grant rather than an open-market purchase. Following this grant, Lee directly holds 75,873 shares of Warner Bros. Discovery common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LEE DEBRA L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Series A Common Stock	9,067	$0.00	--

Holdings After Transaction: Series A Common Stock — 75,873 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 9,067 shares Grant price per share: $0.00 per share Total shares after grant: 75,873 shares +1 more

4 metrics

Shares granted 9,067 shares Equity grant of Series A Common Stock on June 9, 2026

Grant price per share $0.00 per share Reported transaction price for the 9,067-share award

Total shares after grant 75,873 shares Debra L. Lee’s direct holdings following the transaction

Transaction type Grant, award, or other acquisition SEC Form 4 transaction code A (non-derivative)

Key Terms

Series A Common Stock, Grant, award, or other acquisition, non-derivative, direct ownership

4 terms

Series A Common Stock financial

"Security title reported as Series A Common Stock in the transaction"

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.

Grant, award, or other acquisition financial

"Transaction code description is Grant, award, or other acquisition"

non-derivative financial

"Transaction type is classified as non-derivative in the filing data"

direct ownership financial

"Ownership type is listed as direct with code D for this grant"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/11/2026 - 04:45 PM Accepted by SEC EDGAR 06/11/2026 - 04:44 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^*

LEE DEBRA L

(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)
06/09/2026

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	06/09/2026		A		9,067	A	$0	75,873	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	06/11/2026
	** 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 did Debra L. Lee report in the latest Warner Bros. Discovery (WBD) Form 4?

Debra L. Lee reported receiving 9,067 shares of Series A Common Stock as a grant. The shares were awarded at $0.00 per share, reflecting equity compensation rather than a market purchase, and increased her direct holdings to 75,873 shares.

How many Warner Bros. Discovery (WBD) shares were granted to Debra L. Lee?

Debra L. Lee was granted 9,067 shares of Warner Bros. Discovery Series A Common Stock. These shares were reported as a non-derivative award at $0.00 per share, which is typical for director or executive equity compensation grants.

What are Debra L. Lee’s total Warner Bros. Discovery (WBD) holdings after this grant?

After the equity grant, Debra L. Lee directly holds 75,873 shares of Warner Bros. Discovery Series A Common Stock. This figure reflects her updated ownership position as reported in the Form 4 filing following the 9,067-share award.

Was Debra L. Lee’s Warner Bros. Discovery (WBD) transaction a market purchase or sale?

The transaction was not a market purchase or sale. It was classified as a grant or award acquisition of 9,067 non-derivative shares at $0.00 per share, indicating compensation rather than an open-market trade by Debra L. Lee.

How is Debra L. Lee’s ownership of Warner Bros. Discovery (WBD) shares characterized?

Her ownership is reported as direct. The Form 4 lists the 9,067-share grant and the resulting 75,873-share total as directly held Series A Common Stock, with no indication of indirect entities such as trusts or partnerships in the transaction data.