Campbell Bruce 4

What Happened

• Campbell Bruce, Chief Revenue & Strategy Officer at Warner Bros. Discovery (WBD), had 465,146 shares disposed on 2026-02-27 to satisfy a tax/payment obligation (code F) at an attributed value of $28.17 per share (total ~$13,103,163). Separately, he acquired 165,957 shares on 2026-03-02 via an award/grant (code A) at $0.00 per share (acquired).

Key Details

• Transaction dates and values:
  • 2026-02-27: 465,146 shares disposed (code F) at $28.17 — value shown $13,103,163 (payment of exercise price or tax liability / shares withheld).
  • 2026-03-02: 165,957 shares acquired (code A) at $0.00 — award/grant settlement.
• Shares owned after the transactions: not specified in the provided filing.
• Filing: Form 4 filed 2026-03-03 (Accession 0001421985-26-000004) covering the above transactions; no late-filing flag provided in the supplied data.
• Notes on codes: A = award/grant (acquisition); F = payment of exercise price or tax liability (typically shares surrendered/withheld to cover taxes).

Context

• The disposition under code F generally reflects shares surrendered or withheld to meet tax obligations tied to equity compensation (not an open-market sale). The award at $0.00 indicates newly issued or vested company stock (e.g., RSUs or settled awards) rather than a purchase; these are routine forms of executive compensation and do not by themselves signal a view on the stock.
• For retail investors: acquisitions (awards/purchases) are often watched as a positive signal, while withheld shares for taxes are common administrative actions and should not be read as a straightforward sale for investment reasons.