Warner Bros. Discovery (WBD) Director Anthony Noto Receives 929-Share Award

What Happened Anthony Noto, a director of Warner Bros. Discovery (WBD), was granted 929 shares on 2026-09-30 as an award/acquisition (code A). The shares were issued at $0.00 (i.e., no cash purchase price) and represent stock received in lieu of a quarterly cash retainer. This is a compensation-related issuance rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-30; Price per share: $0.00; Total cash paid: $0.00
• Transaction type: Award/Acquisition (code A) — shares received in lieu of cash retainer
• Shares owned after transaction: Not disclosed in this filing
• Footnote: Mr. Noto elected to receive shares of common stock in lieu of a quarterly cash retainer (per filing footnote F1)
• Filing date/accession: Form 4 filed 2026-10-01 (timely filing)

Context Director share awards received in lieu of cash retainers are routine compensation and do not necessarily signal insider sentiment about the company’s stock. Such non-purchase awards are common for board members and differ from purchases (which some investors view as more directly bullish).