Zeiler Gerhard 4

What Happened Gerhard Zeiler, President, International of Warner Bros. Discovery, reported two related transactions. On 2026-02-27 he disposed of 353,530 shares at $28.17 each for a total of $9,958,940 (transaction code F — payment of exercise price or tax liability). On 2026-03-02 he was credited with 117,146 shares at $0.00 (transaction code A — grant/award), indicating a company stock award or vesting.

Key Details

• Transaction dates and amounts:
  • 2026-02-27: 353,530 shares sold/disposed at $28.17 — $9,958,940 (code F: payment of exercise price or tax liability).
  • 2026-03-02: 117,146 shares acquired at $0.00 (code A: grant/award).
• Filing: Form 4 filed 2026-03-03 (covers both transactions); filed within the SEC two-business-day reporting window (timely).
• Shares owned after the transactions: not specified in the summary provided — see the full Form 4 for the insider’s reported beneficial ownership.
• Notable footnote: the sale is coded F, which commonly reflects shares withheld/disposed to satisfy tax obligations tied to option exercises or RSU vesting rather than an open-market investment sale.

Context Code F typically means shares were surrendered or sold to cover taxes from an exercise or vesting event; the March 2 acquisition at $0.00 is consistent with a company grant or vested RSUs. Such withholding-related disposals are routine and do not necessarily reflect the insider’s view of the company’s prospects. Retail investors should view grants/vestings and tax-withholding disposals as administrative steps; outright purchases by insiders tend to be more informative about personal conviction. For full details (including any plan terms or footnotes), check the complete Form 4 filing.