Form 4: Warner Bros. Discovery CEO Sells Shares
Insider Transaction (Form 4)
David Zaslav, Chief Executive Officer & Pres and a Director of Warner Bros. Discovery, Inc., sold 2,184,782 shares of common stock on July 13, 2026 for $27.22 per share.
Summary
- Option exercise/conversion: acquired 2,089,876 Series A Common Stock at $10.16 ($21,233,140) on July 13, 2026; holds 9,087,622 after (Direct).
- Open-market sale: disposed of 2,089,876 Series A Common Stock at $27.22 ($56,886,425) on July 13, 2026; holds 6,997,746 after (Direct).
- Open-market sale: disposed of 94,906 Series A Common Stock at $27.22 ($2,583,341) on July 13, 2026; holds 6,902,840 after (Direct).
- Option exercise/conversion: disposed of 2,089,876 Employee Stock Option on July 13, 2026; holds 18,808,900 after (Direct).
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a mildly negative but low-conviction signal: an insider sold $59,469,766 of stock under a pre-arranged Rule 10b5-1 plan, which is typically routine.
Insider Transactions
David Zaslav — Director, Officer (Chief Executive Officer & Pres)
Transaction made under a Rule 10b5-1 trading plan.
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-07-13 | Option exercise/conversion | Series A Common Stock | 2,089,876 | $10 | $21.2M | 9,087,622 |
| 2026-07-13 | Open-market sale | Series A Common Stock | 2,089,876 | $27 | $56.9M | 6,997,746 |
| 2026-07-13 | Open-market sale | Series A Common Stock | 94,906 | $27 | $2.6M | 6,902,840 |
| 2026-07-13 | Option exercise/conversion | Employee Stock Option | 2,089,876 | — | — | 18,808,900 |
Key Dates
| Date | Description |
|---|---|
| 2026-07-13 | Option exercise/conversion (2,089,876 shares) |
| 2026-07-13 | Open-market sale (2,089,876 shares) |
| 2026-07-13 | Open-market sale (94,906 shares) |
| 2026-07-13 | Option exercise/conversion (2,089,876 shares) |
Keywords
insider transaction, Form 4, WBD, Warner Bros. Discovery, Inc., bearish, David Zaslav
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