Warner Bros. Discovery Director Files Form 144 Notice to Sell $5.67M in Common Stock

Executive Summary

On September 3, 2026, Kenneth W. Lowe, Director of Warner Bros. Discovery, Inc. (NASDAQ: WBD), filed Form 144 indicating an intent to sell 200,000 shares of common stock through Charles Schwab Corp., with an estimated aggregate market value of $5,672,000.00 (~$28.36 per share).

Filing & Transaction Details

• Insider Name: Kenneth W. Lowe
• Relationship: Director
• Securities Offered: 200,000 Common shares
• Aggregate Market Value: $5,672,000.00
• Shares Outstanding: 2,510,703,314
• Approximate Date of Sale: September 3, 2026
• Acquisition Origin: Acquired on March 6, 2018, as equity compensation from the Issuer.
• Ownership Structure: Indirectly held via the Kenneth Lowe Revocable Trust.

Prior 3-Month Trading Activity

• August 11, 2026: Sold 120,000 common shares for gross proceeds of $3,235,890.55.

Key Takeaways

This filing represents continued monetization by Director Kenneth Lowe, bringing proposed and realized sales over the trailing 30 days to 320,000 shares totaling nearly $8.9M. Relative to WBD's large share count (2.51B shares outstanding), the dilution and market impact are negligible, but the trade represents a notable liquidation from a long-time board member.