Bruce Campbell - 03 Mar 2026 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Signature
Tara L. Smith, Attorney-in-Fact
Issuer symbol
WBD
Transactions as of
03 Mar 2026
Net transactions value
-$45,792,572
Form type
4
Filing time
05 Mar 2026, 18:26:01 UTC
Previous filing
03 Mar 2026
Next filing
10 Mar 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Campbell Bruce Chief Rev & Strategy Officer 230 PARK AVENUE SOUTH, NEW YORK Tara L. Smith, Attorney-in-Fact 05 Mar 2026 0001421985

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WBD Series A Common Stock Tax liability -31,765 -2.5% $28.20* 1,215,250 03 Mar 2026 Direct
transaction WBD Series A Common Stock Options Exercise +183,346 +15% $25.70* 1,398,596 04 Mar 2026 Direct
transaction WBD Series A Common Stock Sale $5,133,688 -183,346 -13% $28.00 1,215,250 04 Mar 2026 Direct F1
transaction WBD Series A Common Stock Options Exercise +285,679 +24% $15.02* 1,500,929 04 Mar 2026 Direct
transaction WBD Series A Common Stock Sale $7,999,012 -285,679 -19% $28.00 1,215,250 04 Mar 2026 Direct F2
transaction WBD Series A Common Stock Options Exercise +139,323 +11% $8.67* 1,354,573 04 Mar 2026 Direct
transaction WBD Series A Common Stock Sale $3,901,044 -139,323 -10% $28.00 1,215,250 04 Mar 2026 Direct F2
transaction WBD Series A Common Stock Options Exercise +131,313 +11% $11.02* 1,346,563 04 Mar 2026 Direct
transaction WBD Series A Common Stock Sale $3,676,764 -131,313 -9.8% $28.00 1,215,250 04 Mar 2026 Direct F2
transaction WBD Series A Common Stock Options Exercise +15,448 +1.3% $11.85* 1,230,698 04 Mar 2026 Direct
transaction WBD Series A Common Stock Sale $432,544 -15,448 -1.3% $28.00 1,215,250 04 Mar 2026 Direct F3
transaction WBD Series A Common Stock Sale $23,106,216 -825,222 -54% $28.00 690,028 04 Mar 2026 Direct F4, F5
transaction WBD Series A Common Stock Sale $1,506,260 -53,795 -100% $28.00 0 04 Mar 2026 By spouse as trustee for children F4, F6
transaction WBD Series A Common Stock Sale $37,044 -1,323 -100% $28.00 0 04 Mar 2026 By LLC through grantor retained annuity trust F4, F7

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 Options Exercise -183,346 -100% $0.000000* 0 04 Mar 2026 Series A Common Stock 183,346 $25.70 Direct
transaction WBD Employee Stock Option Options Exercise -285,679 -100% $0.000000* 0 04 Mar 2026 Series A Common Stock 285,679 $15.02 Direct F8
transaction WBD Employee Stock Option Options Exercise -139,323 -49% $0.000000* 143,545 04 Mar 2026 Series A Common Stock 139,323 $8.67 Direct F9
transaction WBD Employee Stock Option Options Exercise -131,313 -33% $0.000000* 266,606 04 Mar 2026 Series A Common Stock 131,313 $11.02 Direct F10
transaction WBD Employee Stock Option Options Exercise -15,448 -33% $0.000000* 31,366 04 Mar 2026 Series A Common Stock 15,448 $11.85 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.09 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.06 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F3 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.94 to $28.06 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F4 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.11 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F5 In March 2025, the reporting person transferred 300,000 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s underreported his direct holdings in Box 5 by 300,000 shares.
F6 In March 2025, the reporting person transferred 144,095 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s overreported his indirect holdings in Box 5.
F7 In March 2025, the reporting person transferred 155,905 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s overreported his indirect holdings in Box 5.
F8 This option vests in three installments (33%, 33%, 34%) beginning on March 1, 2024.
F9 This option vests in three installments (33%, 33%, 34%) beginning on March 1, 2025.
F10 This option vests in three installments (33%, 33%, 34%) beginning on March 3, 2026.