Warner Bros. Discovery: director Daniel E. Sanchez sold 44,054 shares

What happened

• Daniel E. Sanchez, a director, reported dispositions on Oct 6, 2026: he disposed of 44,054 shares of Series A common stock at $31.02 per share for $1,366,410, and 9,067 restricted stock units (RSUs) were reported as derivative securities and settled for cash (amount shown as N/A in the filing).
• The filing states that a merger closed on Oct 6, 2026 under which each outstanding share of Series A common stock was converted into the right to receive $31.01666668 per share in cash, and each vested RSU was cancelled and converted into the right to receive cash equal to the number of shares subject to the RSU multiplied by that per share amount, less applicable withholding taxes.

Key details

• Transaction date and prices: Oct 6, 2026 — 44,054 shares disposed at $31.02; 9,067 RSUs reported as derivative/cash-settled (amount N/A in table).
• Shares owned after the transaction: the filing shows a removal from Table I to Table II of Series A Common Stock underlying 9,067 RSUs because those RSUs were amended to be settled solely in cash.
• Relevant footnotes from the filing:
  • Merger agreement dated Feb 27, 2026 and effective Oct 6, 2026 (F1).
  • Per share merger consideration: $31.01666668 in cash per share (F2).
  • 9,067 RSUs granted Jun 9, 2026 were amended effective Oct 2, 2026 to be cash-settled and are reported as derivative securities (F4, F3, F5).
  • At the merger effective time, vested RSUs were cancelled and converted into the right to receive cash equal to the RSU share count times the per share merger consideration, less withholding (F6).
• Transaction code: reported as disposition to the issuer (D) for the stock disposition.
• Filing timeliness: Form 4 filed on Oct 6, 2026 reporting transactions on Oct 6, 2026 (not marked late).

Why it may matter

• The RSUs were amended to be settled solely in cash and were converted into cash consideration under the merger; the filing treats the RSUs as derivative securities rather than market trades.
• A filing does not show why the insider traded or why the company acted.