Gunnar Wiedenfels - Oct 31, 2025 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Signature
Tara L. Smith, by power of attorney
Stock symbol
WBD
Transactions as of
Oct 31, 2025
Transactions value $
-$4,999,725
Form type
4
Date filed
11/3/2025, 04:44 PM
Previous filing
Sep 16, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Wiedenfels Gunnar Chief Financial Officer 230 PARK AVENUE SOUTH, NEW YORK Tara L. Smith, by power of attorney 2025-11-03 0001694392

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WBD Series A Common Stock Sale -$5M -222K -19.47% $22.50 919K Oct 31, 2025 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 4, 2025. These sales were made pursuant to that trading arrangement.