[Form 4] Warner Bros. Discovery, Inc. Series A Insider Trading Activity

Rhea-AI Filing Summary

Form 4 by Perrette Jean-Briac (Pres.&CEO, Global Streaming) for Warner Bros. Discovery (WBD).

On 08/01/2025 the filing reports a Series A Common Stock transaction with code F: disposition of 25,360 shares at $12.87 per share. Following the reported transaction, the reporting person beneficially owns 1,473,974 shares (direct).

The form is signed by Tara L. Smith by power of attorney on 08/05/2025. No derivative securities are reported in Table II.

Positive

• Disclosure provided: The Form 4 lists transaction date, share amount, and price, giving transparent insider activity details.
• Post-transaction ownership disclosed: Beneficial ownership is reported as 1,473,974 shares (direct).
• No derivatives reported: Table II contains no derivative transactions, limiting complexity of the insider position.

Negative

• Insider disposition: The filing reports a disposition of 25,360 Series A shares.
• Limited context: The form does not provide any explanation or stated reason for the transaction (no remarks present).

Insights

Financial Analyst

Insider sold 25,360 WBD shares at $12.87, leaving 1,473,974 shares directly held; sale size is modest relative to post-transaction holdings.

Detailed: The reported disposition on 08/01/2025 reduces direct holdings to 1,473,974 shares. The disposed amount (25,360 shares) represents approximately 1.72% of the remaining direct holdings (25,360/1,473,974). Price per share is stated as $12.87. No derivative transactions are reported. From a financial perspective, the transaction size appears limited and, based solely on the numbers in this filing, is unlikely to materially affect valuation models or signal a major change in insider alignment.

Corporate Governance Expert

Form 4 discloses an insider disposition with POA signature; filing provides clear transaction details but no explanation of motive.

Detailed: The filing identifies the reporting person as Perrette Jean-Briac (Pres.&CEO, Global Streaming) and records a transaction date of 08/01/2025 with a POA signature by Tara L. Smith dated 08/05/2025. The report shows a transaction code F and lists the shares disposed (25,360) and the post-transaction direct beneficial ownership (1,473,974). Table II shows no derivative activity. The document provides the required disclosure elements but does not include any explanatory remarks about the reason for the transaction.

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
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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^*

Perrette Jean-Briac

(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)
	Pres.&CEO, Global Streaming

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		F		25,360	D	$12.87	1,473,974	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	08/05/2025
	** 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 transaction is reported on the WBD Form 4 filed by Perrette Jean-Briac?

The Form 4 reports a Series A Common Stock transaction on 08/01/2025 with transaction code F showing a disposition of 25,360 shares at $12.87 per share.

How many WBD shares does Perrette Jean-Briac beneficially own after the reported transaction?

The filing reports 1,473,974 shares beneficially owned following the transaction (direct ownership).

Who signed the Form 4 and when was it signed?

The form is signed by Tara L. Smith by power of attorney on 08/05/2025.

Are any derivative securities (options, warrants, etc.) reported on this Form 4?

No. Table II in the filing contains no reported derivative securities.

What is the reporting person's role at Warner Bros. Discovery?

The reporting person is identified as Perrette Jean-Briac, with the title Pres.&CEO, Global Streaming and is filing as an Officer.