Warner Bros. Discovery CEO Sells $60M Worth of Stock Amid Merger Delays
On July 13, 2026, Warner Bros. Discovery (WBD) CEO David Zaslav sold approximately 2.2 million shares worth nearly $59.5 million through a Rule 10b5-1 trading plan. The transaction involved the exercise of stock options at $10.16 per share and immediate sale at an average price of $27.22, representing significant gains for Zaslav. The timing coincided with legal challenges to WBD's proposed merger with Paramount Skydance from a coalition of 12 U.S. states led by California, which claimed the deal violates antitrust laws. Despite this context, analysts note that Zaslav’s sale was non-discretionary and part of an established plan designed to avoid insider trading concerns. Following the transaction, Zaslav retained approximately 6.9 million directly-held shares and nearly 18.8 million stock options in WBD, indicating a continued strong financial stake in the company's future.
Tickers: $WBD
Topics: executive activity SEC filing stock sale