Warner Bros. Discovery, Inc.: chief legal officer Priya Aiyar sold 2,003,327 shares

What happened

• Priya Aiyar, chief legal officer, reported multiple transactions on Oct 6, 2026 related to WBD's merger. The filing shows dispositions to the issuer of 897,844 shares at $31.02 for $27,848,158 and 948,656 shares at $31.02 for $29,424,179, plus a disposition of 156,827 derivative units reported at N/A. The filing also shows an acquisition (grant) of 948,656 shares at $0.00 (converted award).

Key details

• Transaction date: Oct 6, 2026. Filing date: Oct 8, 2026.
• Prices and values reported: 897,844 shares sold at $31.02 for $27,848,158; 948,656 shares sold at $31.02 for $29,424,179; total cash reported $57,272,337. One grant recorded for 948,656 shares at $0.00. One derivative disposition of 156,827 units reported as N/A.
• Shares owned after the transaction: not stated in the information provided.
• Relevant footnotes from the filing:
  • F1: Merger converted each share of Series A common stock into the right to receive $31.01666668 per share in cash at the effective time of the merger.
  • F2–F5: Outstanding unvested RSUs, PRSUs and options were cancelled and converted into contingent cash awards equal to the number of shares times the Per Share Merger Consideration (with continued vesting conditions and "double trigger" protection); earned PRSUs were converted based on actual performance as determined by the compensation committee.
  • F6: One referenced option vests in three installments (33%, 33%, 34%) beginning on Mar 3, 2026.
• The filing descriptions are qualified by the Merger Agreement (see remarks in the filing).

Why it may matter

• The transactions reflect conversion and disposition of equity and equity-based awards in connection with the merger consideration paid by the issuer; the filing shows a grant conversion and cash payments to the holder and dispositions to the issuer.
• The filing does not show why the insider traded or why the company acted.