Warner Bros. Discovery (WBD) insider buying and selling
Every Table I transaction reported by directors and officers of S&P 500 companies on SEC Form 4 filings (2 business days to file): each row labeled with its official transaction code, nothing filtered out beforehand.
Open-market purchases (code P) are the rare signal, in green; sales (code S) are common and often pre-scheduled (10b5-1). Table II (derivatives) is not included: its prices are exercise prices, not market values. Guide: insider buying.
| Date | Ticker | Insider | Role | Shares | Price | Amount | % of stake | Type / filing |
|---|
Download these transactions as CSV No account, no sign-up. The data is public: it comes from SEC Form 4 filings.
Warner Bros. Discovery Inc (WBD) insider buying and selling: no purchases, 43 sales
142 Form 4 Table I transactions filed with the SEC by Warner Bros. Discovery Inc insiders between 2025-09-12 and 2026-10-08 (15-month history): 0 open-market purchases and 43 sales, plus 99 transactions under other Form 4 codes, broken down one by one below. The largest open-market trade is a sale of $113.2M by Zaslav David on 2026-03-03.
Warner Bros. Discovery insider buying and selling over the last 12 months
Between Oct 21, 2025 and Oct 20, 2026, Warner Bros. Discovery insiders filed 39 sales worth $406.7M on the open market, and no purchases.
The biggest seller was Zaslav David (Chief Executive Officer & Pres): $199.7M in 4 sales, out of 13 different sellers.
The largest trade of the period was a sale of $113.2M on Mar 3, 2026, by Zaslav David (Chief Executive Officer & Pres). Form 4 on sec.gov (0001318285-26-000009).
Of the 39 sales, 15 (38%, $100.0M) carry the 10b5-1 plan flag on the Form 4, meaning they were scheduled months ahead; the other 24 do not.
The last three months show 13 sales, against 1 in the three before. The latest sale from Sep 14, 2026.
The 20 most important trades
With no open-market purchases, the table starts with WBD's sales, largest first. The full history is in the tool above, already searched.
See all 142 WBD trades in the full history →
| Trade date | Filed | Insider | Role | Amount | Code | Filing |
|---|---|---|---|---|---|---|
| 2026-03-03 | 2026-03-05 | Zaslav David | Chief Executive Officer & Pres | $113.2M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.42 to $28.20 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-07-13 | 2026-07-15 | Zaslav David | Chief Executive Officer & Pres | $59.5M | S — Open-market sale (scheduled 10b5-1)2 Form 4 footnotesF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. F2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.00 to $27.59 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-04 | 2026-03-05 | Campbell Bruce | Chief Rev & Strategy Officer | $45.8M | S — Open-market sale Indirect holding, through: By spouse as trustee for children; By LLC through grantor retained annuity trust 7 Form 4 footnotesF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.09 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.06 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F3 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.94 to $28.06 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F4 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.11 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F5 In March 2025, the reporting person transferred 300,000 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s underreported his direct holdings in Box 5 by 300,000 shares. F6 In March 2025, the reporting person transferred 144,095 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s overreported his indirect holdings in Box 5. F7 In March 2025, the reporting person transferred 155,905 shares from his indirect holdings to his direct holdings. As a result, subsequently filed Form 4s overreported his indirect holdings in Box 5. | SEC |
| 2026-08-13 | 2026-08-14 | Zaslav David | Chief Executive Officer & Pres | $21.7M | S — Open-market sale (scheduled 10b5-1)2 Form 4 footnotesF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. F2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.00 to $28.07 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-16 | 2026-03-18 | Perrette Jean-Briac | Pres.&CEO, Global Streaming | $18.1M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.40 to $27.46 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-03 | 2026-03-05 | Wiedenfels Gunnar | Chief Financial Officer | $17.4M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.17 to $28.44 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-04 | 2026-03-05 | Zeiler Gerhard | President, International | $16.8M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.12 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-16 | 2026-03-16 | Gould Paul A | Director | $16.4M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.26 to $27.41 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-08-10 | 2026-08-12 | Zeiler Gerhard | President, International | $16.0M | S — Open-market sale4 Form 4 footnotesF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.05 to $27.09 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.06 to $27.10 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F3 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.03 to $27.07 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. F4 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.01 to $27.03 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-03-04 | 2026-03-05 | Wiedenfels Gunnar | Chief Financial Officer | $10.5M | S — Open-market saleForm 4 footnoteF2 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.93 to $28.19 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2025-09-15 | 2025-09-16 | Wiedenfels Gunnar | Chief Financial Officer | $10.4M | S — Open-market sale (scheduled 10b5-1)Form 4 footnoteF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 4, 2025. These sales were made pursuant to that trading arrangement. | SEC |
| 2026-09-03 | 2026-09-08 | Levy Anton J | Director | $9.7M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.37 to $28.44 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-09-09 | 2026-09-10 | Girdwood Amy | Chief People & Culture Officer | $7.3M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.92 to $28.06 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2025-12-10 | 2025-12-12 | Wiedenfels Gunnar | Chief Financial Officer | $7.2M | S — Open-market sale (scheduled 10b5-1)Form 4 footnoteF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 4, 2025. These sales were made pursuant to that trading arrangement. | SEC |
| 2026-03-03 | 2026-03-05 | Aiyar Priya | Chief Legal Officer | $6.3M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.17 to $28.36 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-09-03 | 2026-09-04 | Lowe Kenneth W | Director | $5.7M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.30 to $28.45 per share.. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-09-10 | 2026-09-11 | Lowe Kenneth W | Director | $5.6M | S — Open-market saleForm 4 footnoteF1 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.13 to $28.34 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2026-08-14 | 2026-08-14 | Zaslav David | Chief Executive Officer & Pres | $5.5M | S — Open-market sale (scheduled 10b5-1)2 Form 4 footnotesF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 12, 2026. These sales were made pursuant to that trading arrangement. F3 The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $28.00 to $28.15 per share. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. | SEC |
| 2025-10-31 | 2025-11-03 | Wiedenfels Gunnar | Chief Financial Officer | $5.0M | S — Open-market sale (scheduled 10b5-1)Form 4 footnoteF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 4, 2025. These sales were made pursuant to that trading arrangement. | SEC |
| 2025-09-11 | 2025-09-12 | Campbell Bruce | Chief Rev & Strategy Officer | $4.8M | S — Open-market sale (scheduled 10b5-1)Form 4 footnoteF1 As previously disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Reporting Person entered into a trading arrangement pursuant to Rule 10b5-1 on March 13, 2025. These sales were made pursuant to that trading arrangement. | SEC |
The period balance: money in, money out
In the Form 4 filings submitted between Sep 12, 2025 and Oct 8, 2026 there is not one open-market purchase of Warner Bros. Discovery Inc: 43 sales worth $424.5M and zero dollars bought.
Only codes P and S count, where an insider puts in or takes out their own money. A selling balance like Warner Bros. Discovery Inc's is the norm in the S&P 500, where much of the pay comes as stock. It is not a recommendation to buy or sell: it is what was filed.
Every transaction, code by code
| Code | What it means | Trades | Reported amount |
|---|---|---|---|
| A | Grant or award | 44 | $0 |
| S | Open-market sale | 43 | $424.5M |
| F | Tax withholding (shares surrendered for taxes) | 22 | $124.6M |
| D | Sale back to the issuer | 20 | $823.7M |
| M | Option exercise | 10 | $64.0M |
| I | Discretionary transaction in a plan | 2 | $2.5M |
| G | Gift | 1 | $0 |
| Total | Everything filed in the period | 142 | $1.44B |
45 of the 142 rows carry no usable amount on the Form 4: they count as trades and add $0. The code labels come from the SEC index.
Who has traded
Over the 15 months of history, 20 distinct people or entities have filed Warner Bros. Discovery Inc transactions: none bought on the open market and 13 sold. Counted by CIK, the fixed number the SEC gives each filer, and not by name, which each filer types their own way.
Of the 13 who sold on the open market (43 sales in all), the three biggest sellers account for $304.6M of the $424.5M: 72% of the money in three people.
| Filer | Role | Transactions | Bought (count) | Sold (count) | Last filed |
|---|---|---|---|---|---|
| Zaslav David | Chief Executive Officer & Pres | 14 | — | $199.7M (5) | 2026-10-08 |
| Campbell Bruce | Chief Rev & Strategy Officer | 14 | — | $54.4M (4) | 2026-10-08 |
| Wiedenfels Gunnar | Chief Financial Officer | 16 | — | $50.5M (5) | 2026-10-08 |
| Zeiler Gerhard | President, International | 10 | — | $32.8M (2) | 2026-10-08 |
| Perrette Jean-Briac | Pres.&CEO, Global Streaming | 9 | — | $21.7M (2) | 2026-10-08 |
| Gould Paul A | Director | 3 | — | $16.4M (1) | 2026-10-06 |
| Lowe Kenneth W | Director | 5 | — | $14.6M (3) | 2026-10-06 |
| Levy Anton J | Director | 3 | — | $9.7M (1) | 2026-10-06 |
Shown here are the 8 who moved the most money, out of 20. The rest are in the full history, one link above. The name links to all their trades, in any company. "Transactions" counts any code; the money, open market only. Role: from their latest filing.
Month by month
By the month the trade was executed, not the month it was filed; months with no trades show zero. The busiest month was Mar 2026: 0 purchases and 13 sales, worth $252.0M. 7 of the 15 months have none. 1 trade was executed before the window opens and filed late: it is in the history and in the tables above, but falls outside this calendar.
| Month | Purchases | Amount | Sales | Amount |
|---|---|---|---|---|
| Aug 2025 | 0 | $0 | 0 | $0 |
| Sep 2025 | 0 | $0 | 3 | $17.8M |
| Oct 2025 | 0 | $0 | 1 | $5.0M |
| Nov 2025 | 0 | $0 | 2 | $235k |
| Dec 2025 | 0 | $0 | 9 | $8.2M |
| Jan 2026 | 0 | $0 | 0 | $0 |
| Feb 2026 | 0 | $0 | 0 | $0 |
| Mar 2026 | 0 | $0 | 13 | $252.0M |
| Apr 2026 | 0 | $0 | 0 | $0 |
| May 2026 | 0 | $0 | 0 | $0 |
| Jun 2026 | 0 | $0 | 0 | $0 |
| Jul 2026 | 0 | $0 | 1 | $59.5M |
| Aug 2026 | 0 | $0 | 7 | $52.5M |
| Sep 2026 | 0 | $0 | 6 | $29.3M |
| Oct 2026 | 0 | $0 | 0 | $0 |
The last month may be partial: a Form 4 is filed up to two business days later. The table does not say whether the pattern is good or bad; it says when it happened.
Warner Bros. Discovery Inc (WBD) analysis page →
Other companies with insider trades
All 500 are listed in the section index →
Which insiders are buying their own company stock →
How to read this data
7 of the 20 sales in the table are flagged as scheduled (10b5-1 plan): signed months ahead and executed automatically, so they say nothing about what the insider thinks today. Warner Bros. Discovery has no open-market purchase (code P) in the history, the most common case in the S&P 500: insiders are already paid in stock. The latest filing is from Oct 8, 2026, and a Form 4 arrives up to two business days after the trade.
20 of the 20 rows in the table carry footnotes from the Form 4 itself, folded into the code column and copied verbatim; a row with no footnote means the filing has none.
Guide: Insider buying · all guides
What is behind these trades
The concepts on this page, explained from scratch in the Academy. Free, no account.
- What the efficiency hypothesis says and what it does NOT sayIf an insider's purchase is public and anyone can read it, is there any information left in it? That is the exact question that brings people here.
- Who really moves the market: the types of investorWho sits on the other side of each order, and where a company's own insiders fit among them.
- Supply, demand and price: why it rises and falls constantlyHow a piece of news ends up inside the price, and why the reaction to a filed sale is rarely the one you would expect.
Source: SEC EDGAR Form 4. This is a list of public facts, not financial advice or a recommendation to buy or sell.