Warner Bros. Discovery, Inc. SEC Filings

Samuel A. Di Piazza Jr. reported a Form 4 disclosing a director compensation election to receive common shares of Warner Bros. Discovery (WBD) instead of a quarterly cash retainer. On 09/30/2025 he was issued 3,841 shares at no cash price reported, increasing his total directly held Series A common stock to 201,308 shares. The filing also shows 3,443 shares held indirectly through his spouse. The form was signed by Tara L. Smith by power of attorney on 10/01/2025.

Gunnar Wiedenfels, Chief Financial Officer of Warner Bros. Discovery, Inc. (WBD), reported multiple transactions on 09/15/2025. The filing shows option exercises and contemporaneous open-market sales of Series A common stock executed under a Rule 10b5-1 trading arrangement established March 4, 2025. Specifically, the report records exercises of 131,127 options at a $8.67 exercise price and 177,456 options at a $15.02 exercise price, each resulting in corresponding increases in underlying shares. On the same date, the report records sales of 222,210, 131,127, and 177,456 shares at $19.50 per share. The form lists certain indirect holdings: 14,140 shares held as custodian and 13,045 shares held by spouse. The filing was signed by power of attorney on 09/16/2025.

Warner Bros. Discovery, Inc. (WBD) filing is a Form 144 notice reporting a proposed sale of 530,793 Series A shares through Fidelity Brokerage Services with an aggregate market value of $10,350,463.50, and an approximate sale date of 09/15/2025 on NASDAQ. The table shows the securities were acquired through a mix of option grants (dated 03/01/2023 and 03/01/2024) and multiple restricted stock vesting events between 2019 and 2025; payments for the option-related lots are listed as cash and vesting-related lots as compensation. The filer reports nothing to report for securities sold in the past three months and includes the standard attestation about material nonpublic information.

Form 144 filed for Warner Bros. Discovery, Inc. (WBD) discloses a proposed sale of 289,322 Class A shares through Fidelity Brokerage Services with an aggregate market value of $4,768,474.00. The filing lists the issuer's total shares outstanding as 2,475,772,282 and an approximate sale date of 09/11/2025. The notice covers multiple lots acquired over time, including options granted (03/01/2024), employee stock purchase plan purchases, and numerous restricted stock vesting events dated from 2013 through 2022.

The filing does not provide the filers name, CIK, or contact information in the provided text, and reports "Nothing to Report" for securities sold in the past three months. The remarks section contains the standard representation about lack of undisclosed material information and the Rule 10b5-1 statement framework.

Perrette Jean-Briac, an officer (Pres.&CEO, Global Streaming) of Warner Bros. Discovery, acquired shares and vested options on 08/15/2025. She received 21,816 shares of Series A common stock and exercised an employee stock option that resulted in 46,814 underlying shares (exercise price $11.85). Following these transactions she beneficially owns 1,495,790 shares of Series A common stock and 46,814 derivative shares reported as direct holdings.

Warner Bros. Discovery officer Bruce Campbell reported option exercises and resulting share ownership changes. The Form 4 shows a transaction on 08/15/2025 in which Mr. Campbell acquired 21,816 shares of Series A common stock and now directly beneficially owns 1,129,907 shares. The filing also reports two indirect holdings: 209,700 shares held by the reporting person’s spouse as trustee for children and 145,418 shares held by an LLC through a grantor retained annuity trust. The derivative table shows acquisition of 46,814 shares via employee stock option exercises with an exercise price of $11.85 and an underlying share count of 46,814. The option vests in three annual installments beginning March 3, 2025.

Anton J. Levy, listed as a director of Warner Bros. Discovery (WBD), reported purchases of Series A common stock in two transactions totaling 325,000 shares. The first transaction on 08/11/2025 shows 250,000 shares purchased at a reported weighted average price of $10.90 (prices ranged $10.86–$10.96). The second transaction on 08/12/2025 shows 75,000 shares purchased at a reported weighted average price of $11.00 (prices ranged $10.92–$11.04).

Following these purchases the form reports beneficial ownership of 874,000 shares after the first transaction and 949,000 shares after the second. Transactions are coded "P" for purchase and ownership is reported as Direct (D). No derivative securities are reported. The filer provided explanatory footnotes stating they will disclose, upon request, the number of shares bought at each price within the reported ranges.

Warner Bros. Discovery (WBD) 10-Q — Quarter ended June 30, 2025. Revenues were $9,812 million for Q2 and $18,791 million for six months. Operating loss narrowed to $(185) million in Q2 from $(10,208) million year-ago; net income was $1,588 million for Q2 and $1,139 million for the six months, driven primarily by a $2,958 million gain on extinguishment of debt. Total debt outstanding decreased to $35,000 million (debt, gross) with debt, net of adjustments, $34,632 million; borrower drew a $17,000 million bridge loan on June 30, 2025.

Liquidity and balance sheet: cash and equivalents $4,888 million; total assets $101,727 million; total equity $37,323 million. Material corporate actions: announced plan to separate into two public companies (expected mid-2026, subject to conditions) and contributed 70% interest in music catalog to a joint venture for $601 million proceeds. Remaining performance obligations totaled $10,530 million. Revolving receivables program amended to $5,000 million with $4,499 million derecognized receivables as of June 30, 2025.