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Di Piazza Samuel A Jr. reported disposition transactions in this Form 4 filing.
Warner Bros. Discovery, Inc. director Samuel A. Di Piazza Jr. reported an intra-plan transfer involving 82,415 shares of Series A Common Stock on 2026-08-11. According to a plan-related disclosure, funds were moved from the company stock fund to another investment option within the Warner Bros. Discovery, Inc. Non-Employee Directors Deferral Plan, described as a discretionary transaction exempt under Rule 16b-3(f). Following this transaction, Di Piazza held 130,661 shares directly, and a separate indirect holding of 3,443 shares is reported as owned by his spouse.
A holder of Class A shares of WBD has provided notice of a planned sale of securities through Fidelity Brokerage Services LLC on NASDAQ, with an aggregate market value of about $15,986,696.90. The planned sale on 08/10/2026 involves shares received as restricted stock vesting between February 2024 and March 2025, as well as shares issuable from a stock option exercise for 491,038 Class A shares for cash. The disclosure outlines the sources and timing of the securities that may be sold.
Warner Bros. Discovery reported Q2 2026 revenues of $8.7 billion, down 11% from $9.8 billion a year earlier. Net income available to the company declined to $149 million from $1.58 billion, while Adjusted EBITDA slipped 4% to $1.9 billion.
Streaming was a relative bright spot: segment revenues rose 10% to $3.1 billion and Adjusted EBITDA increased to $512 million, a nearly 17% margin. By contrast, Studios revenues fell 39% and Adjusted EBITDA dropped to $96 million, and Global Linear Networks revenues declined 17% amid weaker advertising following the loss of NBA rights.
Free cash flow was $572 million versus $702 million, with cash from operations of $848 million. The company ended the quarter with $33.1 billion of gross debt and approximately $30 billion of net debt, for net leverage of 3.4x, after refinancing a $15 billion bridge facility with term loans expected to cut annual interest costs by about 150 basis points.
Warner Bros. Discovery, Inc. Chief Executive Officer David Zaslav exercised employee stock options for 2,089,876 shares of Series A common stock at $10.16 per share and, on the same date, sold 2,184,782 shares at a weighted average price of $27.22 per share under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, he holds 6,902,840 shares directly and 153 shares indirectly through his spouse, and retains 18,808,900 employee stock options at a $10.16 exercise price expiring on June 12, 2032.
WBD filed a notice of proposed sale of Series A securities under Form 144. The filing lists a planned disposition of 2,184,782 Series A shares to be sold through Fidelity Brokerage Services LLC on the NASDAQ on or after 07/13/2026. The shares are to be issued from two sources: 94,906 shares from restricted stock vesting dated 06/12/2026 and 2,089,876 shares issuable upon stock option exercise dated 07/13/2026.
Noto Anthony reported acquisition or exercise transactions in this Form 4 filing.
Warner Bros. Discovery, Inc. director Anthony Noto received a grant of 1,079 shares of Series A Common Stock. The shares were issued at a stated price of $0.00 per share as compensation, since he elected to take his quarterly director cash retainer in stock. After this award, he directly holds 53,444 shares.
Warner Bros. Discovery, Inc. Chief Executive Officer David Zaslav reported a Form 4 showing a tax-related share disposition. On June 12, 2026, 202,881 shares of Series A Common Stock were used as a tax-withholding disposition at $26.98 per share, leaving 6,997,746 shares held directly. An additional 153 shares are reported as indirectly owned through his spouse.