Campbell Bruce 4

What Happened
Campbell Bruce, Warner Bros. Discovery’s Chief Revenue & Strategy Officer, was awarded a total of 725,792 performance-based restricted stock units (PRSUs) that vested on Feb 24, 2026. The filing shows two award acquisitions: 270,728 shares (reported as $0.00) and 455,064 shares (reported as $0.00). These are awards earned based on company performance metrics rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-02-24; Form 4 filed 2026-02-26 (timely within the two-business-day window).
• Awards: 270,728 shares (incremental vesting from the 3/1/2023 PRSU grant) and 455,064 shares (3/1/2024 PRSU grant) — total 725,792 shares. Reported acquisition price: $0.00 (awarded).
• Footnotes:
  • The 270,728 shares are the incremental portion of the 3/1/2023 grant after a 3-year TSR modifier certified at 199.5% of target (aggregate 542,816 shares; 272,088 shares of that had been reported as earned on 2/26/2024 at 100% of target).
  • The 455,064 shares are PRSUs from 3/1/2024 earned at 200% of target based on 2024–2025 free cash flow performance.
• Shares owned after the transaction are not specified in the provided filing excerpt. No sale or tax-withholding disposition is reported here.

Context
PRSUs are performance-based awards that convert to shares when the company meets predefined targets (here: free cash flow and relative TSR). These awards represent compensation tied to past performance certification by the Compensation Committee and are not an open-market purchase or insider sale; they should be viewed as executive compensation vesting rather than a direct trading signal.