A - Amendment Insider Report for Warner Bros. Discovery, Inc. (WBD)

Role: Director
Signature: ADVANCE/NEWHOUSE PARTNERSHIP, By: /s/ Oren Klein, Its: Chief Financial Officer
Stock symbol: WBD
Transactions as of: Apr 8, 2022
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 5/11/2023, 08:00 PM
Date Of Original Report: Apr 12, 2022
Previous filing: Apr 7, 2022
Next filing: May 13, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WBD	Series C common stock, par value $0.01 per share	Other		-4.15M	-100%		0	Apr 8, 2022	Direct	F1
transaction	WBD	Series A common stock, par value $0.01 per share	Other		+4.16M			4.16M	Apr 8, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to a reclassification exempt under Rule 16b-7, each share of Series C common stock, par value $0.01 per share beneficially owned by Advance/Newhouse Partnership, a New York Partnership ("A/N") was reclassified and converted into such number of shares of Series A common stock, par value $0.01 per share (the "Common Stock") of Warner Bros. Discovery, Inc. (the "Company"), as provided in amended and restated certificate of incorporation of the Company pursuant to the business combination of the Company with a segment of AT&T Inc. ("AT&T"), pursuant to which Magallanes, Inc., a wholly owned subsidiary of AT&T, which owned the WarnerMedia segment of AT&T, was merged with and into Drake Subsidiary, Inc. a wholly owned subsidiary of the Company (the "Combination").
F2	The Reporting Persons have increased the number of shares of Common Stock to reflect 6,157 shares received as an AT&T shareholder in connection with the Combination.

Content

Pursuant to a reclassification exempt under Rule 16b-7, each share of Series C common stock, par value $0.01 per share beneficially owned by Advance/Newhouse Partnership, a New York Partnership ("A/N") was reclassified and converted into such number of shares of Series A common stock, par value $0.01 per share (the "Common Stock") of Warner Bros. Discovery, Inc. (the "Company"), as provided in amended and restated certificate of incorporation of the Company pursuant to the business combination of the Company with a segment of AT&T Inc. ("AT&T"), pursuant to which Magallanes, Inc., a wholly owned subsidiary of AT&T, which owned the WarnerMedia segment of AT&T, was merged with and into Drake Subsidiary, Inc. a wholly owned subsidiary of the Company (the "Combination").

The Reporting Persons have increased the number of shares of Common Stock to reflect 6,157 shares received as an AT&T shareholder in connection with the Combination.

Remarks:

Each of Newhouse Broadcasting Corporation and Advance Publications, Inc. may be deemed to beneficially own shares of Common Stock held by A/N due to their control of A/N.