Warner Bros. Discovery, Inc. — Director's Dealing 2022

Apr 13, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Warner Bros. Discovery, Inc. (WBD)
CIK: 0001437107
Period of Report: 2022-04-08

Reporting Person: Zaslav David (Director, Chief Executive Officer & Pres)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-04-08	Employee Stock Option (right to acquire)	$37.43	D	198132	Disposed	2029-01-03	Series A Common Stock (198132.0)	Direct
2022-04-08	Employee Stock Option (right to acquire)	$37.43	A	198132	Acquired	2029-01-03	Series A Common Stock (198132.0)	Direct

Footnotes

F1: On April 8, 2022, Discovery, Inc. ("Discovery") completed a transaction pursuant to which a wholly-owned subsidiary of Discovery combined with AT&T's WarnerMedia business (the "WarnerMedia Business") in a Reverse Morris Trust transaction and Discovery became the parent entity of the combined Discovery and WarnerMedia Business (the "Combination"). In connection with the Combination, Discovery, Inc. was renamed Warner Bros. Discovery, Inc. Represents stock options to acquire DISCA (as defined in footnote 3) that were disposed of in exchange for, on a one-for-one basis, stock options to acquire WBD Series A common stock (as defined in footnote 5) having substantially the same terms in connection with the Combination.

F2: This option vests in four equal annual installments beginning on May 16, 2023.

F3: Represents Series A common stock of Discovery, Inc., par value $0.01 per share ("DISCA").

F4: Represents stock options to acquire WBD Series A common stock that were acquired in exchange for, on a one-for-one basis, stock options to acquire DISCA having substantially the same terms in connection with the Combination.

F5: Represents Series A common stock of Warner Bros. Discovery, Inc., par value $0.01 per share ("WBD Series A common stock").