Merchant Fazal F 4
4 · Warner Bros. Discovery, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Warner Bros. Discovery Director Fazal F. Merchant Sells 35,000 Shares
What Happened
- Fazal F. Merchant, a director of Warner Bros. Discovery (WBD), sold 35,000 shares on March 16, 2026. The reported weighted-average price was $27.48 per share, for a total value of about $961,800. The transaction is coded as a sale (S) and described as an open market or private sale.
Key Details
- Transaction date: 2026-03-16.
- Price: weighted average $27.48 per share (range reported $27.48–$27.49; see footnote).
- Proceeds: approximately $961,800.
- Shares owned after the transaction: not specified in the provided filing excerpt (check the full Form 4 for post-transaction holdings).
- Footnote: The reported price is a weighted average of multiple transactions at $27.48–$27.49; the filer will provide a breakdown of how many shares were sold at each price upon request (Footnote F1).
- Filing timeliness: Reported and filed on 2026-03-16 (appears timely).
Context
- This was a sale, which is commonly routine insider activity (e.g., diversification, personal liquidity); sales do not by themselves indicate company outlook.
- No options exercises, gift, or tax-withholding transactions were reported in the excerpt; the filing only shows a direct sale of common stock.
Insider Transaction Report
Form 4
Merchant Fazal F
Director
Transactions
- Sale
Series A Common Stock
[F1]2026-03-16$27.48/sh−35,000$961,800→ 95,539 total
Footnotes (1)
- [F1]The price reported represents the weighted average price of shares of Series A common stock sold in multiple transactions at prices ranging from $27.48 to $27.49 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.
Signature
Tara L. Smith, by power of attorney|2026-03-16