Form 4: Warner Bros. Discovery Director Anthony Noto Acquires Shares in Lieu of Cash Retainer

Director Anthony Noto increased his holdings in Warner Bros. Discovery by receiving shares of common stock in place of a quarterly cash retainer.

Summary

• Anthony Noto, a director of Warner Bros. Discovery, acquired 2,680 shares of Series A Common Stock on March 31, 2025.
• The shares were received in lieu of a quarterly cash retainer for his services as a director.
• Following the transaction, Mr. Noto beneficially owns 13,217 shares of Warner Bros. Discovery.
• The transaction was reported on April 2, 2025.

Sentiment

Score: 6

Explanation: Neutral sentiment. The director receiving shares in lieu of cash is a common practice and doesn't necessarily indicate a strong positive or negative outlook.

Positives

• A director taking shares in lieu of cash may signal confidence in the company's future performance.

Management Comments

• Mr. Noto elected to receive shares of common stock in lieu of a quarterly cash retainer in respect of his services as a director.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, aligning their interests with shareholders.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates

Keywords

Warner Bros. Discovery, Director, Anthony Noto, Share Acquisition, Form 4, Beneficial Ownership, WBD, Series A Common Stock