Insider trade

CFO sold ~$5M of WBD shares in the open market

Traded Oct 31, 2025 · Filed Nov 4, 2025

~$5M
Reported value · 222K sh @ $22.50: 919K
Holds after · shares reported: +37.9%
stock since the trade · S&P 500 +12.0%, $22.45 → $30.95 on Oct 1

Why it stands out

The money chief of Warner Bros. Discovery sold $5M of Warner Bros. Discovery shares. It was planned long ago, so it says very little.

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: Oct 31, 2025
Reporting period: Not applicable
Filed with the SEC: Nov 4, 2025

CFO$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$4,999,725

Shares × reported transaction price

Timing vs results

85 days after results of Aug 7, 2025, 6 days before results of Nov 6, 2025

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 $22.45 on Oct 31, 2025, at its 52-week high, after a 16% rise over the previous 30 trading days

52-week range $7.69 (Apr 8, 2025) to $22.45 (Oct 31, 2025), 100% of the way up, from 250 adjusted closes. 30 trading days earlier: $19.33 on Sep 19, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

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	+2.0%	+1.1%	+0.8%
30 days	+8.6%	+1.4%	+7.2%
90 days	+21.8%	+3.0%	+18.8%
180 days	+19.3%	+6.3%	+13.0%

Past results only. Not a forecast.

Source receipt

Record ID: 0001437107-25-000208
Filed / recorded: Nov 4, 2025, 2:44 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: Gunnar Wiedenfels
Relationship: Officer
Officer title: Chief Financial Officer
Security: Series A Common Stock
Table: Non-derivative (Table I)
Transaction date: Oct 31, 2025
Transaction code: S
Shares / units: 222,210
Price per share: $22.50
Acquired / disposed: Disposed (D)
Shares owned after: 918,940
Ownership form: Direct
Amendment: No

Footnotes from the filing

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.