Warner Bros. Discovery, Inc. — Director's Dealing 2026

Jan 6, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Warner Bros. Discovery, Inc. (WBD)
CIK: 0001437107
Period of Report: 2026-01-02

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-02	Employee Stock Option (right to acquire)	$28.51	A	3052734	Acquired	2033-01-02	Series A Common Stock (3052734)	Direct

Footnotes

F1: As previously disclosed by the Issuer in its Current Report on Form 8-K filed on June 16, 2025, as amended on June 17, 2025 (the "Form 8-K"), these options were granted to Mr. Zaslav pursuant to, and as described in, his employment agreement dated June 12, 2025 in satisfaction of the Issuer's obligation to supplement the Signing Options (as defined in the Form 8-K).

F2: These options will vest on the same terms and conditions as the Signing Options in five equal annual installments beginning on June 12, 2026. Because the performance-based conditions that were applicable to 60% of the Signing Options have been satisfied prior to the date hereof, the options are subject only to the foregoing time-based vesting schedule.