David Zaslav - 06 Oct 2026 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Reporting relationship: Chief Executive Officer & Pres, Director
Issuer ticker: WBD
Reported as of: 06 Oct 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 08 Oct 2026, 16:48:19 UTC
Prior SEC filing: 28 Aug 2026
Source filing: View source filing
Reporting owner signature: Tara L. Smith, Attorney-in-Fact

Filing notes and source

Key filing fact

David Zaslav filed Form 4 for Warner Bros. Discovery, Inc. (WBD) on 08 Oct 2026.

Key facts

This page summarizes David Zaslav's Form 4 filing for Warner Bros. Discovery, Inc. (WBD).
18 reported transactions and 13 derivative rows are listed below.
Accepted by SEC: 08 Oct 2026, 16:48.

Change

Previous filing in this sequence was filed on 28 Aug 2026.
Current net transaction value: $0.

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: 08 Oct 2026

Reported non-derivative transactions

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

WBD transaction

Series A Common Stock

Disposed to Issuer

Transaction value
Shares: -1,500,000
Change %: -22%
Price: $31.02^*
Shares after: 5,307,934
Date: 06 Oct 2026
Ownership: Direct
Footnotes: F1, F2

WBD transaction

Series A Common Stock

Disposed to Issuer

Transaction value
Shares: -1,570,772
Change %: -30%
Price: $31.02^*
Shares after: 3,737,162
Date: 06 Oct 2026
Ownership: Direct
Footnotes: F1, F3

WBD transaction

Series A Common Stock

Disposed to Issuer

Transaction value
Shares: -3,737,162
Change %: -100%
Price: $31.02^*
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Footnotes: F1, F4

WBD transaction

Series A Common Stock

Award

Transaction value
Shares: +425,986
Change %
Price: $0.000000^*
Shares after: 425,986
Date: 06 Oct 2026
Ownership: Direct
Footnotes: F1, F5

WBD transaction

Series A Common Stock

Disposed to Issuer

Transaction value
Shares: -425,986
Change %: -100%
Price: $31.02^*
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Footnotes: F1, F6

Reported derivative securities

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

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,635,284
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,635,284
Exercise price: $35.65
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,519,414
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,519,414
Exercise price: $37.43
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,557,685
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,557,685
Exercise price: $39.30
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,603,292
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,603,292
Exercise price: $41.27
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,682,083
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,682,083
Exercise price: $43.33
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,360,127
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,360,127
Exercise price: $35.65
Footnotes: F1, F7, F8

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,421,234
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,421,234
Exercise price: $37.43
Footnotes: F1, F7, F9

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,401,917
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,401,917
Exercise price: $39.30
Footnotes: F1, F7, F10

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,270,188
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,270,188
Exercise price: $41.27
Footnotes: F1, F7, F11

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -1,322,488
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 1,322,488
Exercise price: $43.33
Footnotes: F1, F7, F12

WBD transaction Derivative

Employee Stock Option (right to acquire)

Disposed to Issuer

Transaction value
Shares: -198,132
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 198,132
Exercise price: $37.43
Footnotes: F1, F7

WBD transaction Derivative

Employee Stock Option

Disposed to Issuer

Transaction value
Shares: -17,935,634
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 17,935,634
Exercise price: $10.16
Footnotes: F1, F13, F14

WBD transaction Derivative

Employee Stock Option (right to acquire)

Disposed to Issuer

Transaction value
Shares: -3,052,734
Change %: -100%
Price
Shares after: 0
Date: 06 Oct 2026
Ownership: Direct
Underlying class: Series A Common Stock
Underlying amount: 3,052,734
Exercise price: $28.51
Footnotes: F1, F13, F14

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

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

David Zaslav is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 14 footnotes

Footnote F1

On October 6, 2026, pursuant to the Agreement and Plan of Merger, dated February 27, 2026 (the "Merger Agreement"), by and among Warner Bros. Discovery, Inc. ("WBD"), Skydance Corporation (f/k/a Paramount Skydance Corporation) ("SKYD") and Prince Sub Inc., a wholly owned subsidiary of SKYD ("Merger Sub"), Merger Sub merged with and into WBD, with WBD surviving as a wholly owned subsidiary of SKYD (the "Merger").

Footnote F2

At the effective time of the Merger (the "Effective Time"), each share of WBD's Series A common stock, par value $0.01 per share ("Series A Common Stock"), issued and outstanding immediately prior to the Effective Time (except as otherwise provided in the Merger Agreement) was converted into the right to receive an amount in cash equal to $31.01666668 (the "Per Share Merger Consideration"), without interest.

Footnote F3

Under the Merger Agreement, at the Effective Time, each outstanding vested restricted stock unit ("RSU") was cancelled and converted into the right to receive an amount in cash without interest equal to the product of (a) the total number of shares of Series A Common Stock subject to the RSU multiplied by (b) the Per Share Merger Consideration, less applicable withholding taxes.

Footnote F4

Under the Merger Agreement, at the Effective Time, each outstanding unvested performance RSU ("PRSU") that was previously certified upon achievement of the applicable performance metric was cancelled and converted into the contingent right to receive an amount in cash (without interest and subject to applicable withholding taxes) (a "Converted Cash Award") equal in value to the product of (x) the Per Share Merger Consideration and (y) the total number of shares of Series A Common Stock subject to such PRSU, determined based on the previous certification by the compensation committee of WBD's board of directors. Each such Converted Cash Award so assumed and converted continues to have, and is subject to, the same vesting conditions (other than performance-vesting conditions rendered inoperative by the Merger) as applied to the corresponding equity award from which it was converted immediately prior to the Effective Time, including "double trigger" termination protection.

Footnote F5

Represents the number of shares of Series A Common Stock underlying unvested PRSUs that became earned in connection with the Merger, determined assuming the achievement of actual performance as of the Effective Time as determined by the compensation committee of WBD's board of directors and extrapolated through the end of the performance period (if greater than target performance).

Footnote F6

Under the Merger Agreement, at the Effective Time, each outstanding unvested PRSU that became earned in connection with the Merger was cancelled and converted into the contingent right to receive a Converted Cash Award equal in value to the product of (x) the Per Share Merger Consideration and (y) the total number of shares of Series A Common Stock subject to such PRSU, determined assuming achievement of actual performance as of the Effective Time as determined by the compensation committee of WBD's board of directors and extrapolated through the end of the performance period (if greater than target performance). Each such Converted Cash Award so assumed and converted continues to have, and is subject to, the same vesting conditions (other than performance-vesting conditions rendered inoperative by the Merger) as applied to the corresponding equity award from which it was converted immediately prior to the Effective Time, including "double trigger" termination protection.

Footnote F7

Under the Merger Agreement, at the Effective Time, each option that had an exercise price per share that was greater than or equal to the Per Share Merger Consideration was cancelled at the Effective Time for no consideration.

Footnote F8

This option vests in four equal annual installments beginning on January 1, 2024.

Footnote F9

This option vests in four equal annual installments beginning on January 1, 2025.

Footnote F10

This option vests in three equal annual installments beginning on January 1, 2026.

Footnote F11

This option vests in two equal annual installments beginning on January 1, 2027.

Footnote F12

This option vests 100% on December 31, 2027.

Footnote F13

Under the Merger Agreement, at the Effective Time, each outstanding vested option was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (a) the total number of shares of Series A Common Stock subject to the option multiplied by (b) the excess, if any, of the Per Share Merger Consideration over the exercise price per share of the option, less applicable withholding taxes.

Footnote F14

These options will become exercisable in five equal annual installments beginning on June 12, 2026.

SEC remarks

The foregoing descriptions in notes 1-7 and 13 are qualified in their entirety by reference to the terms of the Merger Agreement. In the event of any conflict between the descriptions above and the terms set forth in the Merger Agreement, the terms set forth in the Merger Agreement shall control.