Insider and congress filings
Warner Bros. Discovery, Inc. (WBD)
About Warner Bros. Discovery, Inc.
from the company's filings and listing- Exchange
- NASDAQ
- Sector
- Communication Services
- Industry
- Entertainment
- Chief executive
- David Zaslav
- Employees
- 35,500
- Listed since
- -
- Market value
- $70.0B
- Price to earnings
- -
- Earnings per share
- -$1.26
- Dividend yield
- -
Earnings
6 reported quarters · next on Nov 5, 2026| Quarter | EPS | EPS expected | Revenue | Revenue expected | Result |
|---|---|---|---|---|---|
| Q2 FY2026reported Aug 6, 2026 | $0.06 | -$0.14 | $8.7B | $9.3B | EPS beatRevenue miss |
| Q1 FY2026reported May 6, 2026 | -$1.17 | -$0.11 | $8.9B | $8.9B | EPS missRevenue in line |
| Q4 FY2025reported Feb 26, 2026 | -$0.10 | -$0.03 | $9.5B | $9.4B | EPS missRevenue in line |
| Q3 FY2025reported Nov 6, 2025 | -$0.06 | -$0.07 | $9.0B | $9.2B | EPS beatRevenue in line |
| Q2 FY2025reported Aug 7, 2025 | $0.63 | -$0.24 | $9.8B | $9.8B | EPS beatRevenue in line |
| Q1 FY2025reported May 8, 2025 | -$0.18 | -$0.17 | $9.0B | $9.6B | EPS missRevenue miss |
Actual against the consensus estimate at the time. A flag marks a beat or a miss of more than 1.5% either way; inside that band the quarter is in line. A flag marked GAAP compares a GAAP figure the company reported with an adjusted consensus, two different measures, so a one-time gain or charge can move it either way; basis unverified means we could not classify the reported figure. A flag reads n/a only when a number is missing. An estimate is a forecast made by analysts, not a company target.
Executive pay
as filed for 2025 · proxy filed Apr 30, 2026| Executive | Salary | Stock awards | Other | Total |
|---|---|---|---|---|
| David M. ZaslavPresident and Chief Executive Officer | $3.0M | $22.6M | $139.4M | $165.0M |
| Priya R. AiyarChief Legal Officer | $1.3M | $17.7M | $4.2M | $23.3M |
| Jean-Briac PerretteCEO and President, Global Streaming and Games | $2.7M | $9.4M | $10.4M | $22.5M |
| Bruce L. CampbellChief Revenue and Strategy Officer | $2.8M | $9.4M | $10.0M | $22.3M |
| Gunnar WiedenfelsChief Financial Officer | $2.1M | $8.2M | $7.3M | $17.7M |
The summary compensation table from the 2025 proxy statement, current executives only. Read the filing
Institutional holders
13F positions as of Jun 30, 2026| Holder | Value | Shares | Change | Of company |
|---|---|---|---|---|
| Blackrock, Inc. | $5.3B | 198,085,828 | +1.7% | 7.89% |
| Vanguard Capital Management LLC | $4.2B | 158,635,529 | +1.1% | 6.32% |
| State Street Corp | $3.4B | 128,364,674 | +0.7% | 5.11% |
| Vanguard Portfolio Management LLC | $2.8B | 105,102,281 | +1.6% | 4.19% |
| Invesco Ltd. | $2.1B | 80,086,951 | +53.9% | 3.19% |
| Geode Capital Management, LLC | $1.9B | 69,897,377 | -0.1% | 2.78% |
| Millennium Management LLC | $1.5B | 57,657,575 | +31.2% | 2.30% |
| Pentwater Capital Management LP | $1.3B | 47,576,000 | -5.3% | 1.89% |
| FMR LLC | $1.2B | 45,257,749 | +39.4% | 1.80% |
| Citadel Advisors LLC | $1.2B | 44,587,810 | +51.8% | 1.78% |
| D. E. Shaw & Co., Inc. | $1.1B | 40,750,490 | +173.7% | 1.62% |
| Norges Bank | $832.8M | 31,238,355 | +100.0% | 1.24% |
A 13F reports long US equity positions 45 days after the quarter ends, so these are positions as they stood on Jun 30, 2026. For a manager's whole book see the fund directory.
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Open-market insider trades
20 filings of 365 on record| Insider | Action | Shares | Price | Value | Trade date | Delay |
|---|---|---|---|---|---|---|
| Anton J. LevyDirector | Sold | 340,000 | $28.39 | $9.7M | Sep 3, 2026 | 5d |
| Kenneth W. LoweDirector | Sold | 200,000 | $28.35 | $5.7M | Sep 3, 2026 | 1d |
| Jean-Briac PerrettePres.&ceo, Global Streaming | Sold | 126,707 | $28.96 | $3.7M | Aug 27, 2026 | 4d |
| David ZaslavChief Executive Officer & Pres | Sold | 194,999 | $28.02 | $5.5M | Aug 14, 2026 | 0d |
| David ZaslavChief Executive Officer & Pres | Sold · 2 lines | 773,173 | $28.01 | $21.7M | Aug 13, 2026 | 1d |
| Fazal F. MerchantDirector | Sold | 71,539 | $27.75 | $2.0M | Aug 13, 2026 | 1d |
| Richard W. FisherDirector | Sold | 20,000 | $27.46 | $549K | Aug 12, 2026 | 2d |
| Gerhard ZeilerPresident, International | Sold · 4 lines | 591,038 | $27.05 | $16.0M | Aug 10, 2026 | 2d |
| Kenneth W. LoweDirector | Sold | 120,000 | $26.97 | $3.2M | Aug 11, 2026 | 1d |
| David ZaslavChief Executive Officer & Pres | Sold | 153 | $7.55 | $1K | Aug 22, 2024 | 720d |
| David ZaslavChief Executive Officer & Pres | Sold · 2 lines | 2,184,782 | $27.22 | $59.5M | Jul 13, 2026 | 2d |
| Jean-Briac PerrettePres.&ceo, Global Streaming | Sold | 659,120 | $27.42 | $18.1M | Mar 16, 2026 | 2d |
| Fazal F. MerchantDirector | Sold | 35,000 | $27.48 | $962K | Mar 16, 2026 | 0d |
| Paul A. GouldDirector | Sold | 600,000 | $27.35 | $16.4M | Mar 16, 2026 | 0d |
| Priya AiyarChief Legal Officer | Sold | 77,243 | $27.85 | $2.2M | Mar 10, 2026 | 0d |
| Bruce CampbellChief Rev & Strategy Officer | Sold · 3 lines | 841,993 | $28.00 | $23.6M | Mar 4, 2026 | 1d |
| Gerhard ZeilerPresident, International | Sold | 600,000 | $28.02 | $16.8M | Mar 4, 2026 | 1d |
| Priya AiyarChief Legal Officer | Sold | 223,512 | $28.24 | $6.3M | Mar 3, 2026 | 2d |
| Gunnar WiedenfelsChief Financial Officer | Sold · 2 lines | 151,778 | $28.05 | $4.3M | Mar 4, 2026 | 1d |
| David ZaslavChief Executive Officer & Pres | Sold | 4,004,149 | $28.26 | $113.2M | Mar 3, 2026 | 2d |
One row is one filing. A filing that reported its trade in several tranches is summed, priced at the weighted average, and marked with its line count.
Congress trades in WBD
20 disclosures of 88 on record · median 31d of the 45 allowed| Member | Type | Action | Amount disclosed | Since the trade | Trade date | Disclosed | Delay |
|---|---|---|---|---|---|---|---|
| Alan ArmstrongSelfFiled late | Stock | Purchase | $1,001 - $15,000 | +3.1%S&P +20.2% · vs S&P 500 -17.1% | Mar 27, 2026 | Jul 21, 2026 | 116d |
| Ro Khanna | Stock | Sale | $1,001 - $15,000 | +4.9%S&P +1.6% · vs S&P 500 +3.3% | Jun 16, 2026 | Jul 6, 2026 | 20d |
| Ro Khanna | Stock | Purchase | $1,001 - $15,000 | +1.9%S&P +11.1% · vs S&P 500 -9.2% | Apr 13, 2026 | May 11, 2026 | 28d |
| Ro Khanna | Stock | Sale | $1,001 - $15,000 | +3.0%S&P +20.7% · vs S&P 500 -17.6% | Mar 30, 2026 | Apr 7, 2026 | 8d |
| August Pfluger | Stock | Sale | $1,001 - $15,000 | +0.7%S&P +10.3% · vs S&P 500 -9.6% | Feb 10, 2026 | Mar 19, 2026 | 37d |
| Ro Khanna | Stock | Sale | $1,001 - $15,000 | +2.0%S&P +10.3% · vs S&P 500 -8.3% | Feb 6, 2026 | Mar 9, 2026 | 31d |
| Gilbert Ray Cisneros, Jr. | Stock | Sale | $1,001 - $15,000 | +0.4%S&P +10.1% · vs S&P 500 -9.7% | Feb 10, 2026 | Mar 9, 2026 | 27d |
| Gilbert Ray Cisneros, Jr. | Stock | Purchase | $1,001 - $15,000 | -3.4%S&P +9.8% · vs S&P 500 -13.2% | Jan 9, 2026 | Feb 13, 2026 | 35d |
| Ro Khanna | Stock | Purchase | $1,001 - $15,000 | -2.3%S&P +10.6% · vs S&P 500 -12.9% | Jan 23, 2026 | Feb 6, 2026 | 14d |
| Julia LetlowFiled late | Stock | Purchase | $1,001 - $15,000 | +240.0%S&P +33.7% · vs S&P 500 +206.3% | Nov 1, 2024 | Jan 13, 2026 | 438d |
| Julia LetlowFiled late | Stock | Sale | $1,001 - $15,000 | +107.5%S&P +19.9% · vs S&P 500 +87.6% | Jul 25, 2025 | Jan 13, 2026 | 172d |
| Julia Letlow | Stock | Sale | $1,001 - $15,000 | +2.8%S&P +11.7% · vs S&P 500 -8.9% | Dec 8, 2025 | Jan 13, 2026 | 36d |
| Gilbert Ray Cisneros, Jr. | Stock | Purchase | $1,001 - $15,000 | +17.8%S&P +15.5% · vs S&P 500 +2.4% | Nov 18, 2025 | Dec 15, 2025 | 27d |
| Ro Khanna | Stock | Purchase | $1,001 - $15,000 | +48.0%S&P +14.9% · vs S&P 500 +33.1% | Sep 29, 2025 | Oct 3, 2025 | 4d |
| Jefferson Shreve | Stock | Sale | $15,001 - $50,000 | +202.4%S&P +30.8% · vs S&P 500 +171.6% | May 12, 2025 | Jun 22, 2025 | 41d |
| Ro Khanna | Stock | Sale | $1,001 - $15,000 | +210.7%S&P +28.8% · vs S&P 500 +182.0% | May 19, 2025 | Jun 10, 2025 | 22d |
| Ro Khanna | Stock | Purchase | $1,001 - $15,000 | +235.1%S&P +42.4% · vs S&P 500 +192.6% | Apr 23, 2025 | May 12, 2025 | 19d |
| August PflugerSpouse | Stock | Sale | $1,001 - $15,000 | +184.4%S&P +31.3% · vs S&P 500 +153.1% | Jan 13, 2025 | Feb 15, 2025 | 33d |
| Laurel M. LeeSpouse | Stock | Sale | $1,001 - $15,000 | +166.3%S&P +26.6% · vs S&P 500 +139.7% | Nov 29, 2024 | Jan 7, 2025 | 39d |
| Ro Khanna | Stock | Purchase | $1,001 - $15,000 | +202.7%S&P +30.2% · vs S&P 500 +172.6% | Nov 15, 2024 | Dec 5, 2024 | 20d |
Since the trade: the stock's move from the trade date to the latest close we hold, as of Sep 10, 2026, an estimate, with the S&P 500 over the same window and the difference against it. The figures describe the stock after the trade, not the member's result: the filing carries a band, not a fill, and a sale keeps the same sign, so a positive figure after a sale means the stock kept rising. An option row carries the underlying stock's move. A row marked n/a has no market price. Not investment advice.
Members of Congress reporting a position
13 members · estimate, as of Sep 10, 202613 members report a position (estimated). The largest estimated position is in the $50,001 - $100,000 band.
| Member | Party, chamber | Estimated position | Share of their portfolio |
|---|---|---|---|
| Nancy Pelosi | Democrat · House | $50,001 - $100,000 | 0.1% |
| Jacky Rosen | Democrat · Senate | $15,001 - $50,000 | 0.7% |
| Randy Fine | Republican · House | $15,001 - $50,000 | 0.8% |
| Thomas H. Kean, Jr. | Republican · House | $15,001 - $50,000 | 0.4% |
| David Kustoff | Republican · House | $1,001 - $15,000 | 0.3% |
| Gary J. Palmer | Republican · House | $1,001 - $15,000 | 0.7% |
| J. French Hill | Republican · House | $1,001 - $15,000 | 0.1% |
| Julie Johnson | Democrat · House | $1,001 - $15,000 | 0.1% |
| Laurel M. Lee | Republican · House | $1,001 - $15,000 | 0.1% |
| Mike Bost | Republican · House | $1,001 - $15,000 | 14.4% |
| Robert Onder | Republican · House | $1,001 - $15,000 | 0.2% |
| Steve Cohen | Democrat · House | $1,001 - $15,000 | 0.2% |
| Gilbert Ray Cisneros, Jr. | Democrat · House | $1,001 - $15,000 | <0.1% |
Estimate, as of Sep 10, 2026. Each position is modelled from the member's disclosed transactions and annual filings: the midpoint of each disclosed band, moved with the stock's price since the trade. It is a rough estimate of a reported position, not a figure from a filing, which is why it is shown as a band. Share of portfolio sets that estimate against the member's whole estimated public-stock portfolio.
Awards, option exercises and gifts (20)
| Insider | Event | Shares | Date |
|---|---|---|---|
| Gunnar WiedenfelsChief Financial Officer | Stock award | 71,455 | Aug 17, 2026 |
| David ZaslavChief Executive Officer & Pres | Option exercise | 194,999 | Aug 14, 2026 |
| David ZaslavChief Executive Officer & Pres | Option exercise | 678,267 | Aug 13, 2026 |
| Samuel A. Di Piazza Jr.Director | Discretionary transaction | 82,415 | Aug 11, 2026 |
| Gerhard ZeilerPresident, International | Option exercise | 491,038 | Aug 10, 2026 |
| David ZaslavChief Executive Officer & Pres | Option exercise | 2,089,876 | Jul 13, 2026 |
| Anthony NotoDirector | Stock award | 1,079 | Jun 30, 2026 |
| David ZaslavChief Executive Officer & Pres | Tax withholding | 202,881 | Jun 12, 2026 |
| Daniel E. SanchezDirector | Stock award | 9,067 | Jun 9, 2026 |
| Joseph LevinDirector | Stock award | 9,067 | Jun 9, 2026 |
| Kenneth W. LoweDirector | Stock award | 9,067 | Jun 9, 2026 |
| Samuel A. Di Piazza Jr.Director | Stock award | 9,067 | Jun 9, 2026 |
| Anthony NotoDirector | Stock award | 9,067 | Jun 9, 2026 |
| Anton J. LevyDirector | Stock award | 9,067 | Jun 9, 2026 |
| Geoffrey Y. YangDirector | Stock award | 9,067 | Jun 9, 2026 |
| Paul A. GouldDirector | Stock award | 9,067 | Jun 9, 2026 |
| Richard W. FisherDirector | Stock award | 9,067 | Jun 9, 2026 |
| Fazal F. MerchantDirector | Stock award | 9,067 | Jun 9, 2026 |
| Paula A. PriceDirector | Stock award | 9,067 | Jun 9, 2026 |
| Debra L. LeeDirector | Stock award | 9,067 | Jun 9, 2026 |
Awards, option exercises, shares withheld to cover tax and gifts all file on the same form as a purchase or a sale. None of them is a decision to trade, so they sit here rather than beside the ones that are.
Questions
Are insiders buying or selling WBD?
Across the 20 most recent open-market filings shown here, 0 were purchases and 20 were sales.
Which members of Congress have traded WBD?
Alan Armstrong, Ro Khanna, August Pfluger, Gilbert Ray Cisneros, Jr., Julia Letlow, Jefferson Shreve and others disclosed WBD transactions in the filings shown here.
Which members of Congress hold WBD?
13 members of Congress report a position in WBD in the estimate we hold as of Sep 10, 2026. The three largest estimated positions belong to Nancy Pelosi, Jacky Rosen and Randy Fine. The estimate is built from disclosed transactions and annual filings, so it is shown as a band rather than a figure from a filing.
Is WBD in the S&P 500 or the Nasdaq 100?
Warner Bros. Discovery, Inc. is a current member of the S&P 500 and Nasdaq 100, per the membership list we hold as of Sep 10, 2026. Current members of either index get a page here whatever their filing history.
How quickly are WBD trades disclosed?
Insider filings on this page reached the public a median of 1 days after the transaction, against the two business days Form 4 allows. Congressional disclosures took a median of 31 days, against the 45 the STOCK Act allows.
How to read a Form 4
A DECISION THE INSIDER MADE
COMPENSATION PLUMBING
Congress rows disclose a value range rather than an exact amount, and the STOCK Act allows up to 45 days to report. Full sourcing and the limits of this data are on the methodology page. A filing is a record of a transaction, not a signal, and nothing here is investment advice.
Data as of Sep 10, 2026.