Warner Bros. Discovery insider activity
What the executives and directors of Warner Bros. Discovery actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$407M
net open-market flow, 12 m
0 open-market buys, 12 m
24.6%
of sale value on 10b5-1 plans, 12 m
405 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 141 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Aug 17, 2026 | Wiedenfels Gunnar | 71K |
| Aug 14, 2026 | Zaslav David | 873K |
| Aug 10, 2026 | Zeiler Gerhard | 491K |
| Jul 13, 2026 | Zaslav David | 2.1M |
| Jun 30, 2026 | Noto Anthony | 1,079 |
| Jun 12, 2026 | Zaslav David | 203K |
| Jun 9, 2026 | GOULD PAUL A | 9,067 |
| Jun 9, 2026 | LEE DEBRA L | 9,067 |
| Jun 9, 2026 | LOWE KENNETH W | 9,067 |
| Jun 9, 2026 | YANG GEOFFREY Y | 9,067 |
| Jun 9, 2026 | FISHER RICHARD W | 9,067 |
| Jun 9, 2026 | Price Paula A | 9,067 |
| Jun 9, 2026 | LEVY ANTON J | 9,067 |
| Jun 9, 2026 | LEVIN JOSEPH | 9,067 |
| Jun 9, 2026 | Di Piazza Samuel A Jr. | 9,067 |
| Jun 9, 2026 | Merchant Fazal F | 9,067 |
| Jun 9, 2026 | Sanchez Daniel E. | 9,067 |
| Jun 9, 2026 | Noto Anthony | 9,067 |
| Apr 15, 2026 | Girdwood Amy | 226K |
| Mar 27, 2026 | Price Paula A | 1,340 |
| Mar 27, 2026 | Noto Anthony | 1,063 |
| Mar 10, 2026 | LEE DEBRA L | 16K |
| Mar 10, 2026 | Aiyar Priya | 77K |
| Mar 6, 2026 | Campbell Bruce | 996K |
| Mar 6, 2026 | Perrette Jean-Briac | 244K |
| Mar 6, 2026 | Zeiler Gerhard | 176K |
| Mar 6, 2026 | Wiedenfels Gunnar | 575K |
| Mar 3, 2026 | Locke Lori C. | 36K |
| Mar 3, 2026 | Aiyar Priya | 103K |
| Mar 3, 2026 | Girdwood Amy | 101K |
| Feb 27, 2026 | Campbell Bruce | 1.2M |
| Feb 27, 2026 | Perrette Jean-Briac | 1.2M |
| Feb 27, 2026 | Zeiler Gerhard | 886K |
| Feb 27, 2026 | Wiedenfels Gunnar | 1.2M |
| Feb 27, 2026 | Locke Lori C. | 7,849 |
| Feb 27, 2026 | Girdwood Amy | 12K |
| Feb 24, 2026 | Zaslav David | 5.7M |
| Jan 5, 2026 | Zaslav David | 2.0M |
| Dec 19, 2025 | Price Paula A | 1,306 |
| Dec 19, 2025 | Di Piazza Samuel A Jr. | 2,701 |
| Dec 19, 2025 | Noto Anthony | 1,036 |
| Dec 15, 2025 | Campbell Bruce | 9,495 |
| Dec 15, 2025 | Aiyar Priya | 267K |
| Dec 10, 2025 | Wiedenfels Gunnar | 243K |
| Sep 30, 2025 | Price Paula A | 1,857 |
| Sep 30, 2025 | Di Piazza Samuel A Jr. | 3,841 |
| Sep 30, 2025 | Noto Anthony | 1,473 |
| Sep 15, 2025 | Wiedenfels Gunnar | 309K |
| Sep 11, 2025 | Campbell Bruce | 139K |
| Aug 15, 2025 | Campbell Bruce | 22K |
| Aug 15, 2025 | Perrette Jean-Briac | 22K |
| Aug 1, 2025 | Perrette Jean-Briac | 25K |
| Jul 11, 2025 | Wiedenfels Gunnar | 25K |
| Jul 8, 2025 | Campbell Bruce | 23K |
| Jun 30, 2025 | Price Paula A | 3,164 |
| Jun 30, 2025 | Di Piazza Samuel A Jr. | 6,545 |
| Jun 30, 2025 | Noto Anthony | 2,509 |
| Jun 3, 2025 | GOULD PAUL A | 24K |
| Jun 3, 2025 | LEE DEBRA L | 24K |
| Jun 3, 2025 | LOWE KENNETH W | 24K |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| From holdings | 4.4M |
| Granted | 9.8M |
| Vested / exercised | 4.9M |
| Withheld for tax | 4.4M |
| Planned sales (10b5-1) | 3.7M |
| Discretionary sales | 11M |
| Gifts | 16K |
| Other out | 93K |
Who holds what
the 14 largest holdings of 31| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| NEWHOUSE BROADCASTING CORP | Director | 196M | – | – | – | |
| ADVANCE PUBLICATIONS, INC | Director | 196M | – | – | – | |
| ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP Last trade Dec 14, 2023 | Director | 196M | – | – | Dec 14, 2023 | |
| ADVANCE/NEWHOUSE PARTNERSHIP Last trade Dec 14, 2023 | Director | 25M | – | – | Dec 14, 2023 | |
| Newhouse Steven O Last trade Dec 14, 2023 | Director | 14M | – | – | Dec 14, 2023 | |
| MALONE JOHN C Last trade Dec 1, 2021 | Director | 9.6M | – | – | Dec 1, 2021 | |
| Zaslav David Chief Executive Officer & Pres Last trade Aug 14, 2026 | CEO | 7.0M | – | $200M | net selling over the year: 0 months buying, 3 months selling | Aug 14, 2026 |
| Perrette Jean-Briac Pres.&CEO, Global Streaming Last trade Aug 27, 2026 | CEO | 1.0M | – | $22M | net selling over the year: 0 months buying, 2 months selling | Aug 27, 2026 |
| Aiyar Priya Chief Legal Officer Last trade Mar 10, 2026 | Officer | 898K | – | $9.1M | net selling over the year: 0 months buying, 1 month selling | Mar 10, 2026 |
| Wiedenfels Gunnar Chief Financial Officer Last trade Mar 4, 2026 | CFO | 705K | – | $40M | net selling over the year: 0 months buying, 3 months selling | Mar 4, 2026 |
| Sims Savalle Chief Legal Officer Last trade Dec 13, 2024 | Officer | 623K | – | – | Dec 13, 2024 | |
| LEVY ANTON J Last trade Sep 3, 2026 | Director | 618K | – | $9.7M | net selling over the year: 0 months buying, 1 month selling | Sep 3, 2026 |
| Campbell Bruce Chief Rev & Strategy Officer Last trade Mar 9, 2026 | Officer | 605K | – | $47M | net selling over the year: 0 months buying, 1 month selling | Mar 9, 2026 |
| LOWE KENNETH W Last trade Sep 10, 2026 | Director | 590K | – | $15M | net selling over the year: 0 months buying, 2 months selling | Sep 10, 2026 |
Open-market trade log
the 60 most recent of 509| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Sep 14, 2026 | Locke Lori C. (Officer) 29K shares $28.13 +0.4% since trade filed Sep 16, 2026 | Discretionary sale | 29K | $28.13 | $819K | +0.4% | Sep 16, 2026 |
| Sep 11, 2026 | FISHER RICHARD W (Director) 6,700 shares $28.06 +0.6% since trade filed Sep 14, 2026 | Discretionary sale | 6,700 | $28.06 | $188K | +0.6% | Sep 14, 2026 |
| Sep 10, 2026 | LOWE KENNETH W (Director) 200K shares $28.23 +0.0% since trade filed Sep 11, 2026 | Discretionary sale | 200K | $28.23 | $5.6M | +0.0% | Sep 11, 2026 |
| Sep 9, 2026 | Girdwood Amy (Officer) 262K shares $27.98 +0.9% since trade filed Sep 10, 2026 | Discretionary sale | 262K | $27.98 | $7.3M | +0.9% | Sep 10, 2026 |
| Sep 3, 2026 | LOWE KENNETH W (Director) 200K shares $28.35 −0.4% since trade filed Sep 4, 2026 | Discretionary sale | 200K | $28.35 | $5.7M | −0.4% | Sep 4, 2026 |
| Sep 3, 2026 | LEVY ANTON J (Director) 340K shares $28.39 −0.6% since trade filed Sep 8, 2026 | Discretionary sale | 340K | $28.39 | $9.7M | −0.6% | Sep 8, 2026 |
| Aug 27, 2026 | Perrette Jean-Briac (CEO) 127K shares $28.96 −2.5% since trade filed Aug 31, 2026 | Discretionary sale | 127K | $28.96 | $3.7M | −2.5% | Aug 31, 2026 |
| Aug 14, 2026 | Zaslav David (CEO) 195K shares $28.02 +0.8% since trade filed Aug 14, 2026 | Planned sale (10b5-1) | 195K | $28.02 | $5.5M | +0.8% | Aug 14, 2026 |
| Aug 13, 2026 | Zaslav David (CEO) 95K shares $28.00 +0.8% since trade filed Aug 14, 2026 | Planned sale (10b5-1) | 95K | $28.00 | $2.7M | +0.8% | Aug 14, 2026 |
| Aug 13, 2026 | Zaslav David (CEO) 678K shares $28.01 +0.8% since trade filed Aug 14, 2026 | Planned sale (10b5-1) | 678K | $28.01 | $19M | +0.8% | Aug 14, 2026 |
| Aug 13, 2026 | Merchant Fazal F (Director) 72K shares $27.75 +1.7% since trade filed Aug 14, 2026 | Discretionary sale | 72K | $27.75 | $2.0M | +1.7% | Aug 14, 2026 |
| Aug 12, 2026 | FISHER RICHARD W (Director) 20K shares $27.46 +2.8% since trade filed Aug 14, 2026 | Discretionary sale | 20K | $27.46 | $549K | +2.8% | Aug 14, 2026 |
| Aug 11, 2026 | LOWE KENNETH W (Director) 120K shares $26.97 +4.7% since trade filed Aug 12, 2026 | Discretionary sale | 120K | $26.97 | $3.2M | +4.7% | Aug 12, 2026 |
| Aug 10, 2026 | Zeiler Gerhard (Officer) 93K shares $27.02 +4.5% since trade filed Aug 12, 2026 | Discretionary sale | 93K | $27.02 | $2.5M | +4.5% | Aug 12, 2026 |
| Aug 10, 2026 | Zeiler Gerhard (Officer) 100K shares $27.06 +4.3% since trade filed Aug 12, 2026 | Discretionary sale | 100K | $27.06 | $2.7M | +4.3% | Aug 12, 2026 |
| Aug 10, 2026 | Zeiler Gerhard (Officer) 197K shares $27.04 +4.4% since trade filed Aug 12, 2026 | Discretionary sale | 197K | $27.04 | $5.3M | +4.4% | Aug 12, 2026 |
| Aug 10, 2026 | Zeiler Gerhard (Officer) 202K shares $27.07 +4.3% since trade filed Aug 12, 2026 | Discretionary sale | 202K | $27.07 | $5.5M | +4.3% | Aug 12, 2026 |
| Jul 13, 2026 | Zaslav David (CEO) 95K shares $27.22 +3.7% since trade filed Jul 15, 2026 | Planned sale (10b5-1) | 95K | $27.22 | $2.6M | +3.7% | Jul 15, 2026 |
| Jul 13, 2026 | Zaslav David (CEO) 2.1M shares $27.22 +3.7% since trade filed Jul 15, 2026 | Planned sale (10b5-1) | 2.1M | $27.22 | $57M | +3.7% | Jul 15, 2026 |
| Mar 16, 2026 | GOULD PAUL A (Director) 600K shares $27.35 +3.2% since trade filed Mar 16, 2026 | Discretionary sale | 600K | $27.35 | $16M | +3.2% | Mar 16, 2026 |
| Mar 16, 2026 | Merchant Fazal F (Director) 35K shares $27.48 +2.7% since trade filed Mar 16, 2026 | Discretionary sale | 35K | $27.48 | $962K | +2.7% | Mar 16, 2026 |
| Mar 16, 2026 | Perrette Jean-Briac (CEO) 659K shares $27.42 +3.0% since trade filed Mar 18, 2026 | Discretionary sale | 659K | $27.42 | $18M | +3.0% | Mar 18, 2026 |
| Mar 10, 2026 | Aiyar Priya (Officer) 21K shares $27.85 +1.4% since trade filed Mar 10, 2026 | Discretionary sale | 21K | $27.85 | $596K | +1.4% | Mar 10, 2026 |
| Mar 10, 2026 | Aiyar Priya (Officer) 77K shares $27.85 +1.4% since trade filed Mar 10, 2026 | Discretionary sale | 77K | $27.85 | $2.2M | +1.4% | Mar 10, 2026 |
| Mar 9, 2026 | Campbell Bruce (Officer) 42K shares $27.82 +1.5% since trade filed Mar 10, 2026 | Discretionary sale | 42K | $27.82 | $1.2M | +1.5% | Mar 10, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 1,323 shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 1,323 | $28.00 | $37K | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 15K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 15K | $28.00 | $433K | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 54K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 54K | $28.00 | $1.5M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 131K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 131K | $28.00 | $3.7M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 139K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 139K | $28.00 | $3.9M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 183K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 183K | $28.00 | $5.1M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 286K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 286K | $28.00 | $8.0M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Campbell Bruce (Officer) 825K shares $28.00 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 825K | $28.00 | $23M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Zeiler Gerhard (Officer) 600K shares $28.02 +0.8% since trade filed Mar 5, 2026 | Discretionary sale | 600K | $28.02 | $17M | +0.8% | Mar 5, 2026 |
| Mar 4, 2026 | Wiedenfels Gunnar (CFO) 28K shares $28.05 +0.6% since trade filed Mar 5, 2026 | Discretionary sale | 28K | $28.05 | $791K | +0.6% | Mar 5, 2026 |
| Mar 4, 2026 | Wiedenfels Gunnar (CFO) 91K shares $28.05 +0.6% since trade filed Mar 5, 2026 | Discretionary sale | 91K | $28.05 | $2.6M | +0.6% | Mar 5, 2026 |
| Mar 4, 2026 | Wiedenfels Gunnar (CFO) 124K shares $28.05 +0.6% since trade filed Mar 5, 2026 | Discretionary sale | 124K | $28.05 | $3.5M | +0.6% | Mar 5, 2026 |
| Mar 4, 2026 | Wiedenfels Gunnar (CFO) 131K shares $28.05 +0.6% since trade filed Mar 5, 2026 | Discretionary sale | 131K | $28.05 | $3.7M | +0.6% | Mar 5, 2026 |
| Mar 3, 2026 | FISHER RICHARD W (Director) 16K shares $28.31 −0.3% since trade filed Mar 5, 2026 | Discretionary sale | 16K | $28.31 | $463K | −0.3% | Mar 5, 2026 |
| Mar 3, 2026 | Zaslav David (CEO) 4.0M shares $28.26 −0.1% since trade filed Mar 5, 2026 | Discretionary sale | 4.0M | $28.26 | $113M | −0.1% | Mar 5, 2026 |
| Mar 3, 2026 | Wiedenfels Gunnar (CFO) 618K shares $28.25 −0.1% since trade filed Mar 5, 2026 | Discretionary sale | 618K | $28.25 | $17M | −0.1% | Mar 5, 2026 |
| Mar 3, 2026 | Aiyar Priya (Officer) 224K shares $28.24 −0.0% since trade filed Mar 5, 2026 | Discretionary sale | 224K | $28.24 | $6.3M | −0.0% | Mar 5, 2026 |
| Mar 3, 2026 | Girdwood Amy (Officer) 75K shares $28.25 −0.1% since trade filed Mar 5, 2026 | Discretionary sale | 75K | $28.25 | $2.1M | −0.1% | Mar 5, 2026 |
| Dec 10, 2025 | Locke Lori C. (Officer) 4,122 shares $28.92 −2.4% since trade filed Dec 10, 2025 | Planned sale (10b5-1) | 4,122 | $28.92 | $119K | −2.4% | Dec 10, 2025 |
| Dec 10, 2025 | Wiedenfels Gunnar (CFO) 93K shares $29.50 −4.3% since trade filed Dec 12, 2025 | Planned sale (10b5-1) | 93K | $29.50 | $2.7M | −4.3% | Dec 12, 2025 |
| Dec 10, 2025 | Wiedenfels Gunnar (CFO) 150K shares $29.50 −4.3% since trade filed Dec 12, 2025 | Planned sale (10b5-1) | 150K | $29.50 | $4.4M | −4.3% | Dec 12, 2025 |
| Dec 9, 2025 | Locke Lori C. (Officer) 5,000 shares $27.45 +2.8% since trade filed Dec 10, 2025 | Planned sale (10b5-1) | 5,000 | $27.45 | $137K | +2.8% | Dec 10, 2025 |
| Dec 8, 2025 | Locke Lori C. (Officer) 5,000 shares $27.62 +2.2% since trade filed Dec 10, 2025 | Planned sale (10b5-1) | 5,000 | $27.62 | $138K | +2.2% | Dec 10, 2025 |
| Dec 5, 2025 | Locke Lori C. (Officer) 5,000 shares $25.42 +11.1% since trade filed Dec 5, 2025 | Planned sale (10b5-1) | 5,000 | $25.42 | $127K | +11.1% | Dec 5, 2025 |
| Dec 4, 2025 | Locke Lori C. (Officer) 5,000 shares $24.14 +16.9% since trade filed Dec 5, 2025 | Planned sale (10b5-1) | 5,000 | $24.14 | $121K | +16.9% | Dec 5, 2025 |
| Dec 3, 2025 | Locke Lori C. (Officer) 5,000 shares $24.18 +16.8% since trade filed Dec 3, 2025 | Planned sale (10b5-1) | 5,000 | $24.18 | $121K | +16.8% | Dec 3, 2025 |
| Dec 2, 2025 | Locke Lori C. (Officer) 5,000 shares $24.25 +16.4% since trade filed Dec 3, 2025 | Planned sale (10b5-1) | 5,000 | $24.25 | $121K | +16.4% | Dec 3, 2025 |
| Dec 1, 2025 | Locke Lori C. (Officer) 5,000 shares $23.74 +18.9% since trade filed Dec 3, 2025 | Planned sale (10b5-1) | 5,000 | $23.74 | $119K | +18.9% | Dec 3, 2025 |
| Nov 28, 2025 | Locke Lori C. (Officer) 5,000 shares $23.83 +18.5% since trade filed Nov 28, 2025 | Planned sale (10b5-1) | 5,000 | $23.83 | $119K | +18.5% | Nov 28, 2025 |
| Nov 26, 2025 | Locke Lori C. (Officer) 5,000 shares $23.25 +21.4% since trade filed Nov 28, 2025 | Planned sale (10b5-1) | 5,000 | $23.25 | $116K | +21.4% | Nov 28, 2025 |
| Oct 31, 2025 | Wiedenfels Gunnar (CFO) 222K shares $22.50 +25.5% since trade filed Nov 3, 2025 | Planned sale (10b5-1) | 222K | $22.50 | $5.0M | +25.5% | Nov 3, 2025 |
| Sep 15, 2025 | Wiedenfels Gunnar (CFO) 131K shares $19.50 +44.8% since trade filed Sep 16, 2025 | Planned sale (10b5-1) | 131K | $19.50 | $2.6M | +44.8% | Sep 16, 2025 |
| Sep 15, 2025 | Wiedenfels Gunnar (CFO) 177K shares $19.50 +44.8% since trade filed Sep 16, 2025 | Planned sale (10b5-1) | 177K | $19.50 | $3.5M | +44.8% | Sep 16, 2025 |
| Sep 15, 2025 | Wiedenfels Gunnar (CFO) 222K shares $19.50 +44.8% since trade filed Sep 16, 2025 | Planned sale (10b5-1) | 222K | $19.50 | $4.3M | +44.8% | Sep 16, 2025 |
| Sep 12, 2025 | Campbell Bruce (Officer) 150K shares $18.00 +56.8% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 150K | $18.00 | $2.7M | +56.8% | Sep 12, 2025 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
206 Forms 4, 3 years
1 filed late
4 amendments
4.5 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.