Form 4: Warner Bros. Discovery President Sells Shares
Insider Transaction (Form 4)
Gerhard Zeiler, President, International of Warner Bros. Discovery, Inc., sold 591,038 shares of common stock on August 10, 2026.
Summary
- Open-market sale: disposed of 100,000 Series A Common Stock at $27.06 ($2,706,000) on August 10, 2026; holds 537,436 after (Direct).
- Option exercise/conversion: acquired 201,656 Series A Common Stock at $15.02 ($3,028,873) on August 10, 2026; holds 739,092 after (Direct).
- Open-market sale: disposed of 201,656 Series A Common Stock at $27.07 ($5,458,828) on August 10, 2026; holds 537,436 after (Direct).
- Option exercise/conversion: acquired 196,691 Series A Common Stock at $8.67 ($1,705,311) on August 10, 2026; holds 734,127 after (Direct).
- Open-market sale: disposed of 196,691 Series A Common Stock at $27.04 ($5,318,525) on August 10, 2026; holds 537,436 after (Direct).
- Option exercise/conversion: acquired 92,691 Series A Common Stock at $11.02 ($1,021,455) on August 10, 2026; holds 630,127 after (Direct).
- Open-market sale: disposed of 92,691 Series A Common Stock at $27.02 ($2,504,511) on August 10, 2026; holds 537,436 after (Direct).
- Option exercise/conversion: disposed of 201,656 Employee Stock Option (right to acquire) on August 10, 2026 (Direct).
- Option exercise/conversion: disposed of 196,691 Employee Stock Option (right to acquire) on August 10, 2026; holds 101,326 after (Direct).
- Option exercise/conversion: disposed of 92,691 Employee Stock Option on August 10, 2026; holds 188,193 after (Direct).
Sentiment
Score: 2
Explanation: StockSavvy.ai views this as a mildly negative signal: an insider sold $15,987,863 of stock on the open market.
Insider Transactions
Gerhard Zeiler — Officer (President, International)
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-08-10 | Open-market sale | Series A Common Stock | 100,000 | $27 | $2.7M | 537,436 |
| 2026-08-10 | Option exercise/conversion | Series A Common Stock | 201,656 | $15 | $3.0M | 739,092 |
| 2026-08-10 | Open-market sale | Series A Common Stock | 201,656 | $27 | $5.5M | 537,436 |
| 2026-08-10 | Option exercise/conversion | Series A Common Stock | 196,691 | $9 | $1.7M | 734,127 |
| 2026-08-10 | Open-market sale | Series A Common Stock | 196,691 | $27 | $5.3M | 537,436 |
| 2026-08-10 | Option exercise/conversion | Series A Common Stock | 92,691 | $11 | $1.0M | 630,127 |
| 2026-08-10 | Open-market sale | Series A Common Stock | 92,691 | $27 | $2.5M | 537,436 |
| 2026-08-10 | Option exercise/conversion | Employee Stock Option (right to acquire) | 201,656 | — | — | 0 |
| 2026-08-10 | Option exercise/conversion | Employee Stock Option (right to acquire) | 196,691 | — | — | 101,326 |
| 2026-08-10 | Option exercise/conversion | Employee Stock Option | 92,691 | — | — | 188,193 |
Key Dates
| Date | Description |
|---|---|
| 2026-08-10 | Open-market sale (100,000 shares) |
| 2026-08-10 | Option exercise/conversion (201,656 shares) |
| 2026-08-10 | Open-market sale (201,656 shares) |
| 2026-08-10 | Option exercise/conversion (196,691 shares) |
| 2026-08-10 | Open-market sale (196,691 shares) |
| 2026-08-10 | Option exercise/conversion (92,691 shares) |
| 2026-08-10 | Open-market sale (92,691 shares) |
| 2026-08-10 | Option exercise/conversion (201,656 shares) |
| 2026-08-10 | Option exercise/conversion (196,691 shares) |
| 2026-08-10 | Option exercise/conversion (92,691 shares) |
Keywords
insider transaction, Form 4, WBD, Warner Bros. Discovery, Inc., bearish, Gerhard Zeiler
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