Warner Bros. Discovery Director Samuel Di Piazza Disposes of Entire Position in Merger
Warner Bros. Discovery, Inc.
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Filing Summary
# Insider Transaction: Warner Bros. Discovery, Inc. (WBD)
**Reporting Owner:** Di Piazza Samuel A Jr. (Director)
**Filing Date:** 2026-10-07 | **Transaction Date:** 2026-10-06
### Transaction Summary
* **Security:** Series A Common Stock
* **Action:** Disposition (Merger Consideration)
* **Shares Disposed:** 101,037 shares (Direct & Indirect)
* **Price Per Share:** ~$31.02 - $31.07
* **Total Value:** ~$3,136,983
* **Post-Transaction Holdings:** 0 shares
### Significance
**Trading Significance: Low**
This transaction reflects the disposition of shares and cancellation of deferred stock units upon the consummation of the merger with Paramount Skydance Corporation, rather than an open-market insider sale.
Comprehensive Analysis
Warner Bros. Discovery, Inc. (WBD) Form 4 Analysis
Executive Summary
Director Samuel A. Di Piazza Jr. disposed of his entire equity interest in Warner Bros. Discovery, Inc. on October 6, 2026. The dispositions were executed pursuant to the Agreement and Plan of Merger dated February 27, 2026, under which Prince Sub Inc., a subsidiary of Paramount Skydance Corporation, merged with and into WBD, with WBD surviving as a wholly owned subsidiary of Paramount.
Key Transaction Details
- Dispositions (Table I):
- Direct Holding: 38,443 shares disposed of at $31.0167 per share.
- Indirect Holding (Spouse): 3,443 shares disposed of at $31.067 per share.
- Direct Holding: 59,151 shares disposed of at $31.067 per share.
- Aggregate Common Stock Disposed: 101,037 shares for approximately $3.14 million.
- Post-Transaction Beneficial Ownership: 0 shares.
- Derivative Holdings (Table II):
- 33,067 Restricted Stock Units / Deferred Stock Units (DSUs) were cancelled and converted into the right to receive cash equal to the merger consideration ($31.0167 per unit) less withholding taxes.
Trading Significance Assessment
- Classification: Low
- Context: The disposition represents mandatory cash-out consideration upon completion of a corporate acquisition / merger event rather than a discretionary trading decision. As such, it carries no direct directional signal regarding insider sentiment on valuation.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.