Director Kenneth W. Lowe Sells $5.67M in Warner Bros. Discovery ($WBD) Common Stock

Executive Summary

On September 4, 2026, Warner Bros. Discovery, Inc. ($WBD) filed a Form 4 disclosing that Director Kenneth W. Lowe sold 200,000 shares of Series A Common Stock on September 3, 2026 at a weighted average price of $28.35 per share (range: $28.30 to $28.45), generating total proceeds of $5,670,000.

Key Transaction Details

• Insider: Kenneth W. Lowe
• Role: Director
• Transaction Type: Open Market Sale (Code S)
• Shares Sold: 200,000
• Price Per Share: $28.35 (weighted average)
• Total Value: $5,670,000.00
• Rule 10b5-1 Plan Flag: Not indicated (0)

Post-Transaction Holdings

• Direct Ownership: 790,108 shares remaining directly
• Indirect Ownership: 793 shares held via The Lowe Family Trust
• Position Change: The sale reduced direct holdings by approximately 20.2%.

Significance

This is a sizable open-market transaction exceeding $5 million by a member of the Board of Directors without an explicit Rule 10b5-1 trading plan designation.