Insider trade

Officer sold ~$23.1M of WBD shares in the open market

Traded Mar 4, 2026 · Filed Mar 6, 2026

~$23.1M
Reported value · 825K sh @ $28.00: 690K
Holds after · shares reported: +10.7%
stock since the trade · S&P 500 +11.5%, $27.95 → $30.95 on Oct 1

Why it stands out

Warner Bros. Discovery's Chief Rev & Strategy Officer sold $23.1M 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 4, 2026
Reporting period: Not applicable
Filed with the SEC: Mar 6, 2026

Officer$1M+

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$23,106,216

Shares × reported transaction price

Timing vs results

6 days after results of Feb 26, 2026, 63 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 $27.95 on Mar 4, 2026, 263% above its 52-week low and 7% 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), 91% of the way up, from 251 adjusted closes. 30 trading days earlier: $28.24 on Jan 20, 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: 0001421985-26-000006
Filed / recorded: Mar 6, 2026, 4:26 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: Bruce Campbell
Relationship: Officer
Officer title: Chief Rev & Strategy Officer
Security: Series A Common Stock
Table: Non-derivative (Table I)
Transaction date: Mar 4, 2026
Transaction code: S
Shares / units: 825,222
Price per share: $28.00
Acquired / disposed: Disposed (D)
Shares owned after: 690,028
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 $27.93 to $28.11 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.
In March 2025, the reporting person transferred 300,000 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s underreported his direct holdings in Box 5 by 300,000 shares.