Warner Bros. Discovery Director Joseph Levin Disposes of Holdings in Skydance Merger

Executive Summary

On October 6, 2026, Warner Bros. Discovery, Inc. (NASDAQ: WBD) director Joseph Levin reported the disposition of his equity holdings in connection with the closing of the merger between Warner Bros. Discovery and Skydance Corporation (f/k/a Paramount Skydance Corporation). Under the merger terms, shares and cash-settled units were converted into the right to receive $31.01666668 per share in cash.

Transaction Breakdown

• Common Stock Disposition: Disposed of 10,537 shares of Series A Common Stock at $31.0167 per share, generating cash proceeds of approximately $326,823. Beneficial ownership of common stock following the transaction is 0.
• Derivative Securities: Disposed of/cancelled 33,067 cash-settled restricted stock units (deferred stock units) in exchange for cash merger consideration of $31.0167 per unit, leaving 0 derivative units post-merger.
• Transaction Code: 'D' indicating disposition to the issuer / merger conversion.

Market Impact & Significance

The trading significance of this filing is categorized as Low. The disposition was mandatory and executed in accordance with the Agreement and Plan of Merger dated February 27, 2026, rather than being an open-market discretionary sale by the insider.