David Zaslav - 02 Jan 2026 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Role: Chief Executive Officer & Pres, Director
Signature: Tara L. Smith, Attorney-in-Fact
Issuer symbol: WBD
Transactions as of: 02 Jan 2026
Net transactions value: $0
Form type: 4
Filing time: 06 Jan 2026, 17:48:45 UTC
Previous filing: 25 Nov 2025
Next filing: 07 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Zaslav David	Chief Executive Officer & Pres, Director	230 PARK AVENUE SOUTH, NEW YORK	Tara L. Smith, Attorney-in-Fact	06 Jan 2026	0001318285

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WBD	Employee Stock Option (right to acquire)	Award	$0	+3,052,734		$0.000000	3,052,734	02 Jan 2026	Series A Common Stock	3,052,734	$28.51	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	As previously disclosed by the Issuer in its Current Report on Form 8-K filed on June 16, 2025, as amended on June 17, 2025 (the "Form 8-K"), these options were granted to Mr. Zaslav pursuant to, and as described in, his employment agreement dated June 12, 2025 in satisfaction of the Issuer's obligation to supplement the Signing Options (as defined in the Form 8-K).
F2	These options will vest on the same terms and conditions as the Signing Options in five equal annual installments beginning on June 12, 2026. Because the performance-based conditions that were applicable to 60% of the Signing Options have been satisfied prior to the date hereof, the options are subject only to the foregoing time-based vesting schedule.