David Zaslav - 13 Jul 2026 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Reporting relationship: Chief Executive Officer & Pres, Director
Issuer ticker: WBD
Reported as of: 13 Jul 2026
Net transaction value: -$59,469,766
SEC form: 4
Accepted by SEC: 15 Jul 2026, 17:05:06 UTC
Prior SEC filing: 06 Jul 2026
Source filing: View source filing
Reporting owner signature: Tara L. Smith, Attorney-in-Fact

Key filing fact

David Zaslav filed Form 4 for Warner Bros. Discovery, Inc. (WBD) on 15 Jul 2026.

Key facts

This page summarizes David Zaslav's Form 4 filing for Warner Bros. Discovery, Inc. (WBD).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 15 Jul 2026, 17:05.

Change

Previous filing in this sequence was filed on 06 Jul 2026.
Current net transaction value: -$59,469,766.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001318285 Primary reporting owner

Zaslav David

Relationship: Chief Executive Officer & Pres, Director
Address: 230 PARK AVENUE SOUTH, NEW YORK
Signature: Tara L. Smith, Attorney-in-Fact
Signature date: 15 Jul 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

WBD transaction

Series A Common Stock

Options Exercise

Transaction value
Shares: +2,089,876
Change %: +30%
Price: $10.16^*
Shares after: 9,087,622
Date: 13 Jul 2026
Ownership: Direct
Footnotes: F1

WBD transaction

Series A Common Stock

Sale

Transaction value: $56,886,425
Shares: -2,089,876
Change %: -23%
Price: $27.22
Shares after: 6,997,746
Date: 13 Jul 2026
Ownership: Direct
Footnotes: F1, F2

WBD transaction

Series A Common Stock

Sale

Transaction value: $2,583,341
Shares: -94,906
Change %: -1.4%
Price: $27.22
Shares after: 6,902,840
Date: 13 Jul 2026
Ownership: Direct
Footnotes: F1, F2

WBD holding

Series A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 153
Date: 13 Jul 2026
Ownership: Spouse

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

WBD transaction Derivative

Employee Stock Option

Options Exercise

Transaction value
Shares: -2,089,876
Change %: -10%
Price: $0.000000^*
Shares after: 18,808,900
Date: 13 Jul 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 2,089,876
Exercise price: $10.16
Footnotes: F1, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 3 footnotes

Footnote F1

As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement.

Footnote F2

The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.00 to $27.59 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.

Footnote F3

Options reported herein were part of a grant made on 6/12/2025 pursuant to Mr. Zaslav's Employment Agreement dated 6/12/2025, as amended on 11/7/2025 ("2025 EA"). The total grant consisted of 20,898,776 options exercisable in five equal annual installments beginning on 6/12/2026. Because the performance-based stock price hurdles that were applicable to 60% of such options were satisfied prior to the date hereof, all options pursuant to such grant are subject only to the foregoing time-based vesting schedule.