Merchant Fazal F 4

What Happened

• Fazal F. Merchant, a director of Warner Bros. Discovery (WBD), sold 35,000 shares on March 16, 2026. The reported weighted-average price was $27.48 per share, for a total value of about $961,800. The transaction is coded as a sale (S) and described as an open market or private sale.

Key Details

• Transaction date: 2026-03-16.
• Price: weighted average $27.48 per share (range reported $27.48–$27.49; see footnote).
• Proceeds: approximately $961,800.
• Shares owned after the transaction: not specified in the provided filing excerpt (check the full Form 4 for post-transaction holdings).
• Footnote: The reported price is a weighted average of multiple transactions at $27.48–$27.49; the filer will provide a breakdown of how many shares were sold at each price upon request (Footnote F1).
• Filing timeliness: Reported and filed on 2026-03-16 (appears timely).

Context

• This was a sale, which is commonly routine insider activity (e.g., diversification, personal liquidity); sales do not by themselves indicate company outlook.
• No options exercises, gift, or tax-withholding transactions were reported in the excerpt; the filing only shows a direct sale of common stock.