4/A: Warner Bros. Discovery Director Corrects Beneficial Ownership Reporting After WarnerMedia Combination
SEC Filing (Form 4/A)
Samuel A. Di Piazza Jr., a director of Warner Bros. Discovery, files an amended Form 4 to correct previously reported beneficial ownership of Series A common stock following the combination of Discovery and WarnerMedia.
Summary
- This is an amended SEC Form 4 filing by Samuel A. Di Piazza Jr., a director of Warner Bros. Discovery, Inc. (WBD).
- The amendment corrects errors in the reporting of beneficial ownership of WBD Series A common stock following the combination of Discovery and WarnerMedia on April 8, 2022.
- The original filings on April 12, 2022, overreported the directly owned shares by 21,796 and underreported indirectly owned shares by 743.
- The corrected filing shows the director directly owns 7,597 shares and indirectly owns 743 shares through a spouse.
Sentiment
Score: 6
Explanation: The document is a routine correction of a previous filing. While the initial error is a negative, the correction itself is a positive step towards transparency. Overall, the sentiment is neutral.
Negatives
- The initial Form 4 filings contained errors in reporting the director's beneficial ownership of WBD Series A common stock.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The correction of the Form 4 filing ensures accurate information is available to shareholders regarding insider ownership.
Key Dates
| Date | Description |
|---|---|
| 04/08/2022 | Discovery completed the combination with AT&T's WarnerMedia business. |
| 04/08/2022 | Date of the transactions being reported in the amended Form 4. |
| 04/12/2022 | Date of the original Form 4 filing that contained errors. |
| 03/08/2024 | Date of the amended Form 4 filing. |
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