Geoffrey Yang adds WBD (WBD) shares and updates ownership

Rhea-AI Filing Summary

YANG GEOFFREY Y reported acquisition or exercise transactions in this Form 4 filing.

Warner Bros. Discovery director Geoffrey Y. Yang reported a new share grant and an ownership reclassification. He received an award of 9,067 shares of Series A Common Stock at no cost, bringing his directly held shares to 127,119. The filing also shows 98,285 shares held indirectly through limited partnerships, after correcting 39,819 shares that were previously reported as directly owned. Yang disclaims beneficial ownership of the indirectly held securities except to the extent of his pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider YANG GEOFFREY Y

Role null

Type	Security	Shares	Price	Value
Grant/Award	Series A Common Stock	9,067	$0.00	--
holding	Series A Common Stock	--	--	--

Holdings After Transaction: Series A Common Stock — 127,119 shares (Direct, null); Series A Common Stock — 98,285 shares (Indirect, By limited partnerships)

Footnotes (1)

1. 39,819 shares were previously reported as direct ownership in error and are now being reported as indirect ownership. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.

Key Figures

Share grant: 9,067 shares Direct holdings after grant: 127,119 shares Indirect holdings: 98,285 shares +2 more

5 metrics

Share grant 9,067 shares Series A Common Stock award at $0.0000 per share

Direct holdings after grant 127,119 shares Series A Common Stock directly owned after reported award

Indirect holdings 98,285 shares Series A Common Stock held indirectly by limited partnerships

Reclassified shares 39,819 shares Previously reported as direct, now reported as indirect ownership

Grant price $0.0000 per share Price per share for 9,067-share grant

Key Terms

Grant, award, or other acquisition, beneficial ownership, limited partnerships, Series A Common Stock

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

beneficial ownership financial

"The reporting person disclaims beneficial ownership of these securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

limited partnerships financial

"nature_of_ownership: By limited partnerships"

A limited partnership is a business structure with two types of partners: one or more general partners who run the business and carry full legal responsibility for its debts, and one or more limited partners who contribute money but do not take part in daily management and whose legal responsibility is capped at the amount they invested. For investors, this setup matters because it separates control from financial risk—like founders steering a boat while passive backers fund the trip—and determines who makes decisions, how profits and losses flow to owners for taxes, and how easily an investor can sell their stake.

Series A Common Stock financial

"security_title: Series A Common Stock"

Series A common stock is a specific class of a company’s ordinary shares issued during an early formal funding round, carrying the ownership rights and voting power tied to that class. For investors it signals an early-stage equity claim with potential upside if the business grows, but also greater risk and typically less liquidity than shares in mature, publicly traded firms—imagine buying a seat on a startup’s team before the company has proven itself.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

YANG GEOFFREY Y

(Last) (First) (Middle)

230 PARK AVENUE SOUTH

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Warner Bros. Discovery, Inc. [ WBD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series A Common Stock	06/09/2026		A		9,067	A	$0	127,119(1)	D
Series A Common Stock								98,285(1)	I	By limited partnerships(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 39,819 shares were previously reported as direct ownership in error and are now being reported as indirect ownership.

2. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.

Remarks:

	Tara L. Smith, by power of attorney	06/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Geoffrey Y. Yang report in his latest WBD Form 4 filing?

Geoffrey Y. Yang reported a new equity award and an ownership update. He received 9,067 Series A Common Stock shares at no cost and corrected 39,819 shares from direct to indirect ownership through limited partnerships, refining how his Warner Bros. Discovery holdings are categorized.

How many Warner Bros. Discovery (WBD) shares were granted to Geoffrey Y. Yang?

Geoffrey Y. Yang was granted 9,067 shares of WBD Series A Common Stock. The award was reported at a price of $0.0000 per share, indicating a compensation-related grant rather than an open-market purchase, and increased his directly reported holdings in the company.

What are Geoffrey Y. Yang’s direct and indirect WBD share holdings after the Form 4?

After the reported transactions, Geoffrey Y. Yang directly holds 127,119 shares of WBD Series A Common Stock. He is also reported as having 98,285 shares held indirectly through limited partnerships, with beneficial ownership of those indirect holdings disclaimed except for his pecuniary interest.

What ownership classification change did the WBD Form 4 disclose for Geoffrey Y. Yang?

The filing states that 39,819 WBD shares previously reported as directly owned by Geoffrey Y. Yang are now reported as indirectly owned. These shares are attributed to limited partnerships, aligning the disclosure with how those securities are actually held and controlled.

Does Geoffrey Y. Yang claim full beneficial ownership of his indirect WBD holdings?

No, Geoffrey Y. Yang expressly disclaims beneficial ownership of the indirectly held WBD securities, except to the extent of his pecuniary interest. The shares are held by limited partnerships, and this disclaimer clarifies that his economic interest is limited to his share of those entities.