FilingsForm 4

Warner Bros. Discovery Chief Executive Officer David Zaslav sold $27.12 million of shares

From the public record1 min read

Published Oct 20, 2026 · 08:35 UTCUpdated Oct 20, 2026 · 11:29 UTCFiled Aug 14, 2026

Value$27.12 million

Shares968,172

Average price$28.01

FiledAug 14

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Warner Bros. Discovery's Chief Executive Officer, David Zaslav, sold 968,172 shares for $27.12 million, an average of $28.01 a share, from Aug 13 to Aug 14, 2026, according to a Form 4, the form an insider files when trading the company's shares. All three sale lines were of shares he held directly, and the form says they were made under a Rule 10b5-1 trading arrangement, a pre-arranged plan for insider trades, that he entered into on Mar 12, 2026. The sale lines of 678,267 shares on Aug 13 and 194,999 on Aug 14 were of shares acquired the same day by exercising options, and the form states 6,807,934 shares held directly after the last sale line. The Form 4 was filed with the SEC on Aug 14, 2026 and can be read on SEC EDGAR.1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

How each figure was checked18 facts

the reporting owner as filedZaslav DavidOur database
the owner's relationship to the companydirector and officer (Chief Executive Officer & Pres)Our database
the side of the tradesaleOur database
shares sold968,172Our database
value of the sales$27.12 millionOur database
average price of the sales$28.01Our database
first trade dateAug 13, 2026Our database
last trade dateAug 14, 2026Our database
how the sale lines were held3 sale lines held directlyOur database
the Rule 10b5-1 box of the formticked: the filing marks a transaction on the form as made under a Rule 10b5-1 plan; the box is one answer for the whole form and does not say which lineOur database
the footnote on the Rule 10b5-1 arrangement and its dateMarch 12, 2026Footnotes of the Form 4, as filed ↗
the sale line of Aug 13 that matches an exercisesale (code S): 678,267 shares disposed on Aug 13, 2026 at $28.01 per share; held directly; 6,807,934 owned after the lineOur database
the sale line of Aug 14 that matches an exercisesale (code S): 194,999 shares disposed on Aug 14, 2026 at $28.02 per share; held directly; 6,807,934 owned after the lineOur database
the exercise line of Aug 13exercise of a derivative security (code M): 678,267 shares acquired on Aug 13, 2026 at $10.16 per share; held directly; 7,486,201 owned after the lineOur database
the exercise line of Aug 14exercise of a derivative security (code M): 194,999 shares acquired on Aug 14, 2026 at $10.16 per share; held directly; 7,002,933 owned after the lineOur database
the security of the first derivative line18,130,633 shares of Employee Stock Option owned after this line, held directlyOur database
the shares held after the last sale lineafter the last sale line the form states 6807934 shares of Series A Common Stock held directlyOur database
the day the form was filedAug 14, 2026Our database

The record

Issuer: Warner Bros. Discovery (CIK 1437107, filed as Warner Bros. Discovery, Inc.)
Form: 4
Accession: 0001318285-26-000017
Filed: Aug 14, 2026
Period of report: Aug 13, 2026
Reporting owner: Zaslav David (CIK 1318285)
Relationship: director and officer (Chief Executive Officer & Pres)
Rule 10b5-1 checkbox: Ticked
Line 1: S (sale) · 94,906 Series A Common Stock at $28.00 · Aug 13, 2026 · disposed, directly · 6,807,934 held after · footnote F1
Line 2: M (exercise of a derivative security) · 678,267 Series A Common Stock at $10.16 · Aug 13, 2026 · acquired, directly · 7,486,201 held after · footnote F1
Line 3: S (sale) · 678,267 Series A Common Stock at $28.01 · Aug 13, 2026 · disposed, directly · 6,807,934 held after · footnotes F1 and F2
Line 4: M (exercise of a derivative security) · 194,999 Series A Common Stock at $10.16 · Aug 14, 2026 · acquired, directly · 7,002,933 held after · footnote F1
Line 5: S (sale) · 194,999 Series A Common Stock at $28.02 · Aug 14, 2026 · disposed, directly · 6,807,934 held after · footnotes F1 and F3
Derivative line 1: M (exercise of a derivative security) · 678,267 Employee Stock Option at $0.00 · Aug 13, 2026 · disposed, directly · 18,130,633 held after · footnotes F1 and F4
Derivative line 2: M (exercise of a derivative security) · 194,999 Employee Stock Option at $0.00 · Aug 14, 2026 · disposed, directly · 17,935,634 held after · footnotes F1 and F4
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 $28.00 to $28.07 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: The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.00 to $28.15 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 F4: 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.