AG˹ٷ

STOCK TITAN

[Form 4] Warner Bros. Discovery, Inc. Series A Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Positive)
Form Type
4
Rhea-AI Filing Summary

Anton J. Levy, listed as a director of Warner Bros. Discovery (WBD), reported purchases of Series A common stock in two transactions totaling 325,000 shares. The first transaction on 08/11/2025 shows 250,000 shares purchased at a reported weighted average price of $10.90 (prices ranged $10.86�$10.96). The second transaction on 08/12/2025 shows 75,000 shares purchased at a reported weighted average price of $11.00 (prices ranged $10.92�$11.04).

Following these purchases the form reports beneficial ownership of 874,000 shares after the first transaction and 949,000 shares after the second. Transactions are coded "P" for purchase and ownership is reported as Direct (D). No derivative securities are reported. The filer provided explanatory footnotes stating they will disclose, upon request, the number of shares bought at each price within the reported ranges.

Anton J. Levy, indicato come direttore di Warner Bros. Discovery (WBD), ha dichiarato l'acquisto di azioni ordinarie Serie A in due operazioni per un totale di 325.000 azioni. La prima operazione del 08/11/2025 riporta l'acquisto di 250.000 azioni a un prezzo medio ponderato dichiarato di $10.90 (intervallo dei prezzi $10.86�$10.96). La seconda operazione del 08/12/2025 riporta l'acquisto di 75.000 azioni a un prezzo medio ponderato dichiarato di $11.00 (intervallo dei prezzi $10.92�$11.04).

In seguito a questi acquisti il modulo indica una titolarità beneficiaria di 874.000 azioni dopo la prima operazione e di 949.000 azioni dopo la seconda. Le transazioni sono codificate con "P" per acquisto e la titolarità è riportata come Diretta (D). Non sono segnalati strumenti derivati. Il dichiarante ha fornito note esplicative precisando che, su richiesta, renderà noto il numero di azioni acquistate a ciascun prezzo all'interno degli intervalli dichiarati.

Anton J. Levy, registrado como director de Warner Bros. Discovery (WBD), informó compras de acciones ordinarias Serie A en dos transacciones por un total de 325.000 acciones. La primera transacción del 08/11/2025 muestra 250.000 acciones adquiridas a un precio medio ponderado informado de $10.90 (precios entre $10.86 y $10.96). La segunda transacción del 08/12/2025 muestra 75.000 acciones adquiridas a un precio medio ponderado informado de $11.00 (precios entre $10.92 y $11.04).

Tras estas compras, el formulario informa una tenencia beneficiaria de 874.000 acciones después de la primera transacción y de 949.000 acciones después de la segunda. Las transacciones están codificadas con "P" para compra y la propiedad se declara como Directa (D). No se informan instrumentos derivados. El declarante incluyó notas explicativas indicando que, a petición, revelará la cantidad de acciones compradas a cada precio dentro de los rangos informados.

Anton J. Levy, Warner Bros. Discovery(WBD)� 이사� 등재되어 있으�, 시리� A 보통주를 � 325,000�� 걸쳐 � 건의 거래� 매수했다� 신고했습니다. � 번째 거래� 2025-08-11250,000�� 보고� 가중평� 가� $10.90� 매수� 것으� 나타났습니다(가� 범위 $10.86�$10.96). � 번째 거래� 2025-08-1275,000�� 보고� 가중평� 가� $11.00� 매수� 것으� 나타났습니다(가� 범위 $10.92�$11.04).

이들 매수 이후 해당 양식은 � 거래 � 874,000�, � 번째 거래 � 949,000�� 수혜� 소유권을 보고합니�. 거래� 매수� 의미하는 "P"� 표시되었� 소유권은 직접 보유(D)� 보고되었습니�. 파생 증권은 보고되지 않았습니�. 신고인은 설명 각주� 통해 요청 � 보고� 가� 범위 � � 가격에� 매수� 주식 수를 공개하겠다고 밝혔습니�.

Anton J. Levy, inscrit comme administrateur de Warner Bros. Discovery (WBD), a déclaré des achats d'actions ordinaires de série A lors de deux transactions pour un total de 325 000 actions. La première transaction du 08/11/2025 indique l'achat de 250 000 actions à un prix moyen pondéré déclaré de $10.90 (prix entre $10.86 et $10.96). La seconde transaction du 08/12/2025 indique l'achat de 75 000 actions à un prix moyen pondéré déclaré de $11.00 (prix entre $10.92 et $11.04).

Après ces achats, le formulaire signale une détention bénéficiaire de 874 000 actions après la première transaction et de 949 000 actions après la seconde. Les transactions sont codées "P" pour achat et la propriété est déclarée comme Directe (D). Aucun instrument dérivé n'est déclaré. Le déclarant a ajouté des notes explicatives précisant qu'il communiquera, sur demande, le nombre d'actions achetées à chaque prix à l'intérieur des fourchettes indiquées.

Anton J. Levy, als Direktor von Warner Bros. Discovery (WBD) aufgeführt, meldete Käufe von Stammaktien der Serie A in zwei Transaktionen über insgesamt 325.000 Aktien. Die erste Transaktion am 08/11/2025 weist 250.000 Aktien auf, die zu einem gemeldeten gewichteten Durchschnittspreis von $10.90 gekauft wurden (Preisbereich $10.86�$10.96). Die zweite Transaktion am 08/12/2025 weist 75.000 Aktien auf, die zu einem gemeldeten gewichteten Durchschnittspreis von $11.00 gekauft wurden (Preisbereich $10.92�$11.04).

Nach diesen Käufen berichtet das Formular eine wirtschaftliche Eigentümerschaft von 874.000 Aktien nach der ersten Transaktion und 949.000 Aktien nach der zweiten. Die Transaktionen sind mit "P" für Kauf kodiert und das Eigentum wird als Direkt (D) ausgewiesen. Es werden keine Derivate gemeldet. Der Melder gab erläuternde Fußnoten an, wonach er auf Anfrage die Anzahl der zu jedem Preis innerhalb der angegebenen Spannen gekauften Aktien offenlegen wird.

Positive
  • Director Anton J. Levy acquired a total of 325,000 Series A shares, which increased his reported beneficial ownership to 949,000 shares.
  • Purchases were disclosed with weighted average prices and price ranges, and the filer committed to provide per-price allocation details upon request, supporting transparency.
Negative
  • None.

Insights

Director Levy bought 325,000 WBD Series A shares at ~$10.90�$11.00, raising direct holdings to 949,000.

The disclosure documents two purchase transactions totaling 325,000 Series A shares executed at weighted average prices of $10.90 and $11.00, with disclosed price ranges. For investors, insider purchases can signal management willingness to increase ownership, but material impact depends on context such as company float and market capitalization which are not provided here. The transactions are reported as direct purchases (code "P" and ownership form "D") and no derivatives or dispositions are listed, making this a straightforward insider buy disclosure.

Form 4 shows routine, properly annotated insider purchases with explanatory footnotes and direct ownership reporting.

The filing lists Anton J. Levy as the reporting person and includes explanatory notes showing weighted average prices and price ranges for each block of purchases. The form reports ownership as Direct and uses transaction code "P" for purchases. Table II contains no derivative activity. The footnotes explicitly state the filer will provide per-price allocation details on request, which supports transparency in the reported weighted averages. Overall the disclosure appears complete for these transactions.

Anton J. Levy, indicato come direttore di Warner Bros. Discovery (WBD), ha dichiarato l'acquisto di azioni ordinarie Serie A in due operazioni per un totale di 325.000 azioni. La prima operazione del 08/11/2025 riporta l'acquisto di 250.000 azioni a un prezzo medio ponderato dichiarato di $10.90 (intervallo dei prezzi $10.86�$10.96). La seconda operazione del 08/12/2025 riporta l'acquisto di 75.000 azioni a un prezzo medio ponderato dichiarato di $11.00 (intervallo dei prezzi $10.92�$11.04).

In seguito a questi acquisti il modulo indica una titolarità beneficiaria di 874.000 azioni dopo la prima operazione e di 949.000 azioni dopo la seconda. Le transazioni sono codificate con "P" per acquisto e la titolarità è riportata come Diretta (D). Non sono segnalati strumenti derivati. Il dichiarante ha fornito note esplicative precisando che, su richiesta, renderà noto il numero di azioni acquistate a ciascun prezzo all'interno degli intervalli dichiarati.

Anton J. Levy, registrado como director de Warner Bros. Discovery (WBD), informó compras de acciones ordinarias Serie A en dos transacciones por un total de 325.000 acciones. La primera transacción del 08/11/2025 muestra 250.000 acciones adquiridas a un precio medio ponderado informado de $10.90 (precios entre $10.86 y $10.96). La segunda transacción del 08/12/2025 muestra 75.000 acciones adquiridas a un precio medio ponderado informado de $11.00 (precios entre $10.92 y $11.04).

Tras estas compras, el formulario informa una tenencia beneficiaria de 874.000 acciones después de la primera transacción y de 949.000 acciones después de la segunda. Las transacciones están codificadas con "P" para compra y la propiedad se declara como Directa (D). No se informan instrumentos derivados. El declarante incluyó notas explicativas indicando que, a petición, revelará la cantidad de acciones compradas a cada precio dentro de los rangos informados.

Anton J. Levy, Warner Bros. Discovery(WBD)� 이사� 등재되어 있으�, 시리� A 보통주를 � 325,000�� 걸쳐 � 건의 거래� 매수했다� 신고했습니다. � 번째 거래� 2025-08-11250,000�� 보고� 가중평� 가� $10.90� 매수� 것으� 나타났습니다(가� 범위 $10.86�$10.96). � 번째 거래� 2025-08-1275,000�� 보고� 가중평� 가� $11.00� 매수� 것으� 나타났습니다(가� 범위 $10.92�$11.04).

이들 매수 이후 해당 양식은 � 거래 � 874,000�, � 번째 거래 � 949,000�� 수혜� 소유권을 보고합니�. 거래� 매수� 의미하는 "P"� 표시되었� 소유권은 직접 보유(D)� 보고되었습니�. 파생 증권은 보고되지 않았습니�. 신고인은 설명 각주� 통해 요청 � 보고� 가� 범위 � � 가격에� 매수� 주식 수를 공개하겠다고 밝혔습니�.

Anton J. Levy, inscrit comme administrateur de Warner Bros. Discovery (WBD), a déclaré des achats d'actions ordinaires de série A lors de deux transactions pour un total de 325 000 actions. La première transaction du 08/11/2025 indique l'achat de 250 000 actions à un prix moyen pondéré déclaré de $10.90 (prix entre $10.86 et $10.96). La seconde transaction du 08/12/2025 indique l'achat de 75 000 actions à un prix moyen pondéré déclaré de $11.00 (prix entre $10.92 et $11.04).

Après ces achats, le formulaire signale une détention bénéficiaire de 874 000 actions après la première transaction et de 949 000 actions après la seconde. Les transactions sont codées "P" pour achat et la propriété est déclarée comme Directe (D). Aucun instrument dérivé n'est déclaré. Le déclarant a ajouté des notes explicatives précisant qu'il communiquera, sur demande, le nombre d'actions achetées à chaque prix à l'intérieur des fourchettes indiquées.

Anton J. Levy, als Direktor von Warner Bros. Discovery (WBD) aufgeführt, meldete Käufe von Stammaktien der Serie A in zwei Transaktionen über insgesamt 325.000 Aktien. Die erste Transaktion am 08/11/2025 weist 250.000 Aktien auf, die zu einem gemeldeten gewichteten Durchschnittspreis von $10.90 gekauft wurden (Preisbereich $10.86�$10.96). Die zweite Transaktion am 08/12/2025 weist 75.000 Aktien auf, die zu einem gemeldeten gewichteten Durchschnittspreis von $11.00 gekauft wurden (Preisbereich $10.92�$11.04).

Nach diesen Käufen berichtet das Formular eine wirtschaftliche Eigentümerschaft von 874.000 Aktien nach der ersten Transaktion und 949.000 Aktien nach der zweiten. Die Transaktionen sind mit "P" für Kauf kodiert und das Eigentum wird als Direkt (D) ausgewiesen. Es werden keine Derivate gemeldet. Der Melder gab erläuternde Fußnoten an, wonach er auf Anfrage die Anzahl der zu jedem Preis innerhalb der angegebenen Spannen gekauften Aktien offenlegen wird.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
LEVY ANTON J

(Last) (First) (Middle)
230 PARK AVENUE SOUTH

(Street)
NEW YORK NY 10003

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Warner Bros. Discovery, Inc. [ WBD ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Series A Common Stock 08/11/2025 P 250,000 A $10.9(1) 874,000 D
Series A Common Stock 08/12/2025 P 75,000 A $11(2) 949,000 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The price reported represents the weighted average price of shares of Series A common stock purchased in multiple transactions at prices ranging from $10.86 to $10.96 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 purchased at each price within the range.
2. The price reported represents the weighted average price of shares of Series A common stock purchased in multiple transactions at prices ranging from $10.92 to $11.04 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 purchased at each price within the range.
Remarks:
Tara L. Smith, Attorney-in-Fact 08/13/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions were reported for WBD?

Director Anton J. Levy purchased 250,000 Series A shares on 08/11/2025 and 75,000 Series A shares on 08/12/2025, totaling 325,000 shares.

At what prices were the WBD shares purchased?

Reported weighted average prices were $10.90 for the 08/11 purchases (range $10.86�$10.96) and $11.00 for the 08/12 purchases (range $10.92�$11.04).

How did the purchases affect Levy's ownership in WBD?

The form reports beneficial ownership of 874,000 shares after the first transaction and 949,000 shares after the second.

Were any derivative securities reported in this Form 4 for WBD?

No. Table II reports no derivative securities (no options, warrants, calls, puts, or convertible securities disclosed).

How are the transactions coded and what ownership form is reported?

Transactions are coded "P" (purchase) and the ownership form is reported as Direct (D).

Will more detailed price allocation information be available?

Yes. The filer states they will provide, upon request to the issuer, any security holder, or the SEC staff, the number of shares purchased at each price within the disclosed ranges.
WARNER BROS DISCOVERY INC

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