Trade Summary

2 days ago, Merchant Fazal F, serving as Dir at Warner Bros. Discovery, Inc. (WBD), sold 35,000 shares at $27.48 per share, for a total transaction value of $961,800.00. Following this transaction, Merchant Fazal F now holds 95,539 shares of WBD.

This sale represents a 27.00% decrease in Merchant Fazal F's stake in the company. This is considered a high-conviction trade given the significant change in ownership.

The trade was executed on Monday, March 16, 2026 and publicly disclosed via SEC Form 4 filing on Monday, March 16, 2026, meaning the disclosure happened on the same day as the trade.

Warner Bros. Discovery, Inc. operates in the COMMUNICATION SERVICES sector, specifically within the ENTERTAINMENT industry. Insider selling activity in this sector can provide valuable signals about industry trends and company-specific developments.