John C. Malone - Nov 8, 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: Nov 8, 2022
Transactions value $: -$2,360,000
Form type: 4
Date filed: 11/10/2022, 03:07 PM
Previous filing: Jul 20, 2022
Next filing: Jan 25, 2023

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	-$2.36M	-2M	-50%	$1.18^*	2M	Nov 8, 2022	Series A Common Stock	2M	$10.00	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On November 8, 2022, the Reporting Person sold a put contract on 2,000,000 shares of the Issuer's Series A Common Stock in a private transaction pursuant to which the put contract buyer (the "Buyer") can put the Series A Common Stock to the Reporting Person for $10.00 per share on May 15, 2023. The Reporting Person may elect to physically settle or cash settle with the Buyer. The premium received by the Reporting Person was $1.18 per share (approximately $2,360,000 in the aggregate).

Content

On November 8, 2022, the Reporting Person sold a put contract on 2,000,000 shares of the Issuer's Series A Common Stock in a private transaction pursuant to which the put contract buyer (the "Buyer") can put the Series A Common Stock to the Reporting Person for $10.00 per share on May 15, 2023. The Reporting Person may elect to physically settle or cash settle with the Buyer. The premium received by the Reporting Person was $1.18 per share (approximately $2,360,000 in the aggregate).