Insider trade

CEO sold ~$113M of WBD shares in the open market

Traded Mar 3, 2026 · Filed Mar 6, 2026

Warner Bros. DiscoveryWBD

~$113M
Reported value · 4M sh @ $28.26: 7.2M
Holds after · shares reported: +9.8%
stock since the trade · S&P 500 +13.9%, $28.20 → $30.95 on Oct 5

Why it stands out

The boss of Warner Bros. Discovery sold $113M of Warner Bros. Discovery shares. Nobody planned it ahead of time.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Mar 3, 2026
Reporting period: Not applicable
Filed with the SEC: Mar 6, 2026

CEO$1M+

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$113,157,251

Shares × reported transaction price

Timing vs results

5 days after results of Feb 26, 2026, 64 days before results of May 6, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $28.20 on Mar 3, 2026, 267% above its 52-week low and 6% below its high, after a 1% drop over the previous 30 trading days

52-week range $7.69 (Apr 8, 2025) to $29.98 (Dec 12, 2025), 92% of the way up, from 251 adjusted closes. 30 trading days earlier: $28.58 on Jan 16, 2026. Describes the past only, not a forecast

Planned / mechanical clue

None found in footnotes

Only flagged when a footnote says so; never inferred

Securities lawsuit open at the trade date

A securities lawsuit naming the company as a defendant was filed on Nov 25, 2024 in the U.S. District Court, S.D. New York. A filing is an allegation, not a finding.

Collura v. Warner Bros. Discovery, Inc., docket 1:24-cv-09027, via CourtListener (court records). Nature of suit 850, company named as first defendant

After it was reported

After	Stock	S&P 500	Difference
7 days	−2.9%	−1.5%	−1.4%
30 days	−1.9%	−2.0%	+0.1%
90 days	−3.4%	+12.6%	−16.0%
180 days	+1.6%	+13.8%	−12.2%

Past results only. Not a forecast.

Source receipt

Record ID: 0001318285-26-000009
Filed / recorded: Mar 6, 2026, 3:54 AM UTC
Added to OQRO: Oct 2, 2026, 12:29 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: Warner Bros. Discovery, Inc.
Issuer CIK: 1437107
Ticker: WBD
Reporting person: David Zaslav
Relationship: Director, Officer
Officer title: Chief Executive Officer & Pres
Security: Series A Common Stock
Table: Non-derivative (Table I)
Transaction date: Mar 3, 2026
Transaction code: S
Shares / units: 4,004,149
Price per share: $28.26
Acquired / disposed: Disposed (D)
Shares owned after: 7,200,627
Ownership form: Direct
Amendment: No

Footnotes from the filing

The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.42 to $28.20 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.