Warner Bros. Discovery: director Paul A Gould sold 220,357 shares

What happened

• Paul A Gould, a director, disposed of 117,198 shares and 103,159 shares to the issuer on Oct 6, 2026 at $31.02 per share, for $3,635,095 and $3,199,652 respectively.
• The filing also reports dispositions of 24,000 deferred stock units (DSUs) and 9,067 restricted stock units (RSUs) that were amended to be settled solely in cash; the filing lists amounts for those derivative securities as N/A.

Key details

• Transaction date and price: Oct 6, 2026 at $31.02 per share for the two equity dispositions. Derivative entries (24,000 DSUs and 9,067 RSUs) are listed as N/A in the table.
• Shares owned after the transaction: not specified in the filing.
• Relevant footnotes from the filing:
  • The transactions arise from the merger under the Agreement and Plan of Merger dated Feb 27, 2026 (merger of WBD into Paramount/Skydance) (F1).
  • Each outstanding share was converted into the right to receive $31.01666668 per share in cash at the effective time of the merger (F2).
  • WBD amended certain RSUs/DSUs to be settled solely in cash effective Oct 2, 2026; vested RSUs and DSUs were cancelled and converted into cash payable per the merger terms, less applicable withholding (F3–F7).
• Filing date and timeliness: Form 4 filed with accession on Oct 6, 2026; the filing does not indicate it was late.

Why it may matter

• The equity dispositions reported were made to the issuer in connection with the merger consideration and certain RSUs/DSUs were converted to cash under the merger agreement.
• The derivative entries reflect cash settlement rights for RSUs and DSUs rather than open market trades.
• A filing does not show why the insider traded or why the company acted.