Warner Bros. Discovery, Inc.: director Levin Joseph sold 43,604 shares

What happened

• Levin Joseph, director, disposed of 10,537 shares of Series A common stock to the issuer on Oct 6, 2026 at $31.02 per share for $326,823. On the same date, 33,067 deferred stock units (DSUs) were cancelled and converted into the right to receive cash under the merger at the per-share merger consideration of $31.01666668 (aggregate value for the DSUs is not reported in the transaction table).

Key details

• Transaction date(s) and price(s): Oct 6, 2026 — 10,537 shares at $31.02; 33,067 DSUs converted at $31.01666668 per share under the Merger Agreement.
• Shares owned after the transaction: the filing reflects removal of 33,067 DSUs from Table I to Table II and adjusts beneficial ownership accordingly (see the Form 4 for the post-transaction totals).
• Relevant footnotes: F1 (merger consideration of $31.01666668 per share), F2 (DSUs cancelled and converted to cash, payable net of withholding), F3–F5 (RSUs previously granted were amended to DSUs and are cash-settled).
• Filing timeliness: Form 4 was filed on Oct 6, 2026; no late filing code is indicated.

Why it may matter

• The 10,537-share disposition was handled as a disposition to the issuer; the 33,067 DSUs were converted to a cash payment under the Merger Agreement rather than settled with market shares.
  A filing does not show why the insider traded or why the company acted.