What the executives and directors of Warner Bros. Discovery actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact 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 gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
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.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| NEWHOUSE BROADCASTING CORP | Director | 195.7M | — | — |
| ADVANCE PUBLICATIONS, INC | Director | 195.7M | — | — |
| ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP | Director | 195.7M | — | — |
| ADVANCE/NEWHOUSE PARTNERSHIP | Director | 25.2M | — | — |
| Newhouse Steven O | Director | 14.2M | — | — |
| MALONE JOHN C | Director | 9.6M | — | — |
| Zaslav David Chief Executive Officer & Pres | CEO | 9.1M | — | $172.6M |
| Perrette Jean-Briac Pres.&CEO, Global Streaming | CEO | 1.2M | — | $18.1M |
| LOWE KENNETH W | Director | 1.1M | — | — |
| LEVY ANTON J | Director | 958.1K | $3.6M | — |
| Aiyar Priya Chief Legal Officer | Officer | 897.8K | — | $9.1M |
| Girdwood Amy Chief People & Culture Officer | Officer | 801.7K | — | $2.1M |
| Zeiler Gerhard President, International | Officer | 637.4K | — | $16.8M |
| Wiedenfels Gunnar Chief Financial Officer | CFO | 633.9K | — | $50.5M |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-13 | Zaslav David (CEO) | Planned sale (10b5-1) | 94.9K | $27.22 | $2.6M |
| 2026-07-13 | Zaslav David (CEO) | Planned sale (10b5-1) | 2.1M | $27.22 | $56.9M |
| 2026-03-16 | GOULD PAUL A (Director) | Discretionary sale | 600K | $27.35 | $16.4M |
| 2026-03-16 | Merchant Fazal F (Director) | Discretionary sale | 35K | $27.48 | $962K |
| 2026-03-16 | Perrette Jean-Briac (CEO) | Discretionary sale | 659.1K | $27.42 | $18.1M |
| 2026-03-10 | Aiyar Priya (Officer) | Discretionary sale | 21.4K | $27.85 | $596K |
| 2026-03-10 | Aiyar Priya (Officer) | Discretionary sale | 77.2K | $27.85 | $2.2M |
| 2026-03-09 | Campbell Bruce (Officer) | Discretionary sale | 41.8K | $27.82 | $1.2M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 1,323 | $28.00 | $37K |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 15.4K | $28.00 | $433K |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 53.8K | $28.00 | $1.5M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 131.3K | $28.00 | $3.7M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 139.3K | $28.00 | $3.9M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 183.3K | $28.00 | $5.1M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 285.7K | $28.00 | $8M |
| 2026-03-04 | Campbell Bruce (Officer) | Discretionary sale | 825.2K | $28.00 | $23.1M |
| 2026-03-04 | Zeiler Gerhard (Officer) | Discretionary sale | 600K | $28.02 | $16.8M |
| 2026-03-04 | Wiedenfels Gunnar (CFO) | Discretionary sale | 28.2K | $28.05 | $791K |
| 2026-03-04 | Wiedenfels Gunnar (CFO) | Discretionary sale | 91.4K | $28.05 | $2.6M |
| 2026-03-04 | Wiedenfels Gunnar (CFO) | Discretionary sale | 123.6K | $28.05 | $3.5M |
| 2026-03-04 | Wiedenfels Gunnar (CFO) | Discretionary sale | 131.1K | $28.05 | $3.7M |
| 2026-03-03 | FISHER RICHARD W (Director) | Discretionary sale | 16.3K | $28.31 | $463K |
| 2026-03-03 | Zaslav David (CEO) | Discretionary sale | 4M | $28.26 | $113.2M |
| 2026-03-03 | Wiedenfels Gunnar (CFO) | Discretionary sale | 617.6K | $28.25 | $17.4M |
| 2026-03-03 | Aiyar Priya (Officer) | Discretionary sale | 223.5K | $28.24 | $6.3M |
| 2026-03-03 | Girdwood Amy (Officer) | Discretionary sale | 75K | $28.25 | $2.1M |
| 2025-12-10 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 4,122 | $28.92 | $119K |
| 2025-12-10 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 92.6K | $29.50 | $2.7M |
| 2025-12-10 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 150.4K | $29.50 | $4.4M |
| 2025-12-09 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $27.45 | $137K |
| 2025-12-08 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $27.62 | $138K |
| 2025-12-05 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $25.42 | $127K |
| 2025-12-04 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $24.14 | $121K |
| 2025-12-03 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $24.18 | $121K |
| 2025-12-02 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $24.25 | $121K |
| 2025-12-01 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $23.74 | $119K |
| 2025-11-28 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $23.83 | $119K |
| 2025-11-26 | Locke Lori C. (Officer) | Planned sale (10b5-1) | 5,000 | $23.25 | $116K |
| 2025-10-31 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 222.2K | $22.50 | $5M |
| 2025-09-15 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 131.1K | $19.50 | $2.6M |
| 2025-09-15 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 177.5K | $19.50 | $3.5M |
| 2025-09-15 | Wiedenfels Gunnar (CFO) | Planned sale (10b5-1) | 222.2K | $19.50 | $4.3M |
| 2025-09-12 | Campbell Bruce (Officer) | Planned sale (10b5-1) | 150K | $18.00 | $2.7M |
| 2025-09-11 | Campbell Bruce (Officer) | Planned sale (10b5-1) | 139.3K | $17.00 | $2.4M |
| 2025-09-11 | Campbell Bruce (Officer) | Planned sale (10b5-1) | 150K | $16.00 | $2.4M |
| 2025-08-12 | LEVY ANTON J (Director) | Open-market buy | 75K | $11.00 | $825K |
| 2025-08-11 | LEVY ANTON J (Director) | Open-market buy | 250K | $10.90 | $2.7M |
| 2025-03-03 | Di Piazza Samuel A Jr. (Director) | Open-market buy | 17.3K | $11.41 | $198K |
| 2024-12-16 | Zaslav David (CEO) | Discretionary sale | 2.6M | $11.73 | $30.1M |
| 2024-12-13 | Sims Savalle (Officer) | Discretionary sale | 23.7K | $12.34 | $292K |
| 2024-12-13 | Sims Savalle (Officer) | Discretionary sale | 145.7K | $12.36 | $1.8M |
| 2024-11-11 | Zeiler Gerhard (Officer) | Open-market buy | 58K | $9.24 | $536K |
| 2024-05-13 | Zeiler Gerhard (Officer) | Open-market buy | 100K | $8.30 | $830K |
| 2023-12-14 | ADVANCE/NEWHOUSE PARTNERSHIP (Director) | Open-market buy | 10M | $12.49 | $124.9M |
| 2023-12-14 | ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP (Director) | Discretionary sale | 10M | $12.49 | $124.9M |
| 2023-12-14 | Newhouse Steven O (Director) | Open-market buy | 10M | $12.49 | $124.9M |
| 2023-12-14 | Newhouse Steven O (Director) | Discretionary sale | 10M | $12.49 | $124.9M |
| 2023-08-07 | Zeiler Gerhard (Officer) | Open-market buy | 38K | $14.09 | $535K |
| 2023-05-25 | Wiedenfels Gunnar (CFO) | Open-market buy | 15K | $11.22 | $168K |
| 2022-08-08 | Merchant Fazal F (Director) | Open-market buy | 35K | $14.13 | $495K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
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.