4/A: WBD Director Amends Stock Ownership Post-Merger

Sentiment:

Beneficial Ownership Amendment 16 January 2026 4:19 PM

📋All filings for Warner Bros Discovery, INC

Warner Bros. Discovery Director Richard W. Fisher filed an amended Form 4 to correct the reported number of Series A common shares acquired following the WarnerMedia combination.

Summary

Richard W. Fisher, a Director of Warner Bros. Discovery, Inc. (WBD), filed an amended Form 4.
The amendment corrects the amount of WBD Series A common stock shares he acquired on April 8, 2022.
This acquisition of shares was a result of the Combination of Discovery, Inc. and AT&T's WarnerMedia business.
Fisher acquired 3,673 shares of WBD Series A common stock at a price of $0 per share through the automatic conversion of Spinco Stock.
The original Form 4, filed on August 18, 2023, contained an incorrect amount reported in Column 5 for the shares beneficially owned following the transaction.

Sentiment

Score: 5

Explanation: The filing is a neutral administrative correction to a director's reported shareholdings, reflecting no new operational or financial developments for Warner Bros. Discovery.

Positives

Increased transparency and accuracy in the reporting of a director's beneficial ownership.

Future Outlook

Industry Context

This filing is a routine insider transaction report and does not provide new insights into broader industry trends or the competitive landscape beyond clarifying a director's holdings related to the previously completed WarnerMedia-Discovery combination.

Stakeholder Impact

Provides updated, accurate information regarding a director's beneficial ownership, enhancing transparency for shareholders.

Key Dates

Date	Description
04/08/2022	Date of the Combination transaction between Discovery, Inc. and AT&T's WarnerMedia business, and the acquisition of WBD Series A common stock by the reporting person.
08/18/2023	Date of the original Form 4 filing that is being amended.
01/16/2026	Expiration date of the power of attorney for Tara L. Smith, who signed the filing on behalf of the reporting person.

Recommendation

hold

This filing is a routine amendment correcting a director's reported share acquisition following a past merger. It provides no new material information regarding the company's financial performance, strategic direction, or operational outlook that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is maintained, pending further substantive company updates.

Keywords

Warner Bros. Discovery, WBD, Form 4, Insider Transaction, Director, Stock Ownership, Amendment, WarnerMedia, AT&T, Merger, Combination

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