John C. Malone - Apr 28, 2022 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Role: Director
Signature: Tara L. Smith, by power of attorney
Stock symbol: WBD
Transactions as of: Apr 28, 2022
Transactions value $: $19,920
Form type: 4
Date filed: 5/2/2022, 08:06 PM
Previous filing: Apr 12, 2022
Next filing: May 16, 2022

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	Put Option (obligation to buy)	Sale	-$616K	-1.2M	-50%	$0.51^*	1.2M	Apr 28, 2022	Series A Common Stock	1.2M	$16.50	Direct	F1
transaction	WBD	Put Option (obligation to buy)	Purchase	$636K	+1.2M		$0.53^*	0	May 2, 2022	Series A Common Stock	1.2M	$16.50	Direct	F2

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

Explanation of Responses:

Id	Content
F1	On April 28, 2022, the reporting person sold 12,000 put contracts (each contract representing 100 shares) in a private transaction pursuant to which the reporting person agreed to purchase shares of Series A common stock for $16.50 per share on May 20, 2022, at the request of the put contract buyer (the "Buyer"). The premium received by the reporting person was $0.51371 per share (approximately $616,447 in the aggregate).
F2	On May 2, 2022, the reporting person closed the above transaction entered into on April 28, 2022 by purchasing 12,000 put contracts (each contract representing 100 shares) from the Buyer. The premium paid by the reporting person was $0.53029 per share (approximately $636,350 in the aggregate) resulting in a net loss to the reporting person of approximately $19,903 in the aggregate.

Content

On April 28, 2022, the reporting person sold 12,000 put contracts (each contract representing 100 shares) in a private transaction pursuant to which the reporting person agreed to purchase shares of Series A common stock for $16.50 per share on May 20, 2022, at the request of the put contract buyer (the "Buyer"). The premium received by the reporting person was $0.51371 per share (approximately $616,447 in the aggregate).

On May 2, 2022, the reporting person closed the above transaction entered into on April 28, 2022 by purchasing 12,000 put contracts (each contract representing 100 shares) from the Buyer. The premium paid by the reporting person was $0.53029 per share (approximately $636,350 in the aggregate) resulting in a net loss to the reporting person of approximately $19,903 in the aggregate.