Kenneth W Lowe, a director at Warner Bros. Discovery, Inc. ($WBD), reported an open-market sale of 120,000 shares on August 11, 2026, at $26.97 per share, for a total of $3,236,400. The Form 4 was filed on August 12, one day after the trade. After the transaction, Lowe reported ownership of 990,108 $WBD shares.
The sale is the only $WBD transaction tied to Lowe's reporting number in the filing database; a search of his Form 4 history returns no earlier trades. The August sale also arrived several months after the most recent cluster of $WBD insider selling, which unfolded in early March 2026. During that stretch, CEO Jean-Briac Perrette sold 659,120 shares for about $18.07 million, Director Paul A Gould sold 600,000 shares for roughly $16.41 million, and President Gerhard Zeiler sold 600,000 shares for about $16.81 million. Chief Financial Officer Gunnar Wiedenfels filed four sales on March 4, the largest of 131,127 shares for about $3.68 million. Chief Revenue & Strategy Officer Bruce Campbell filed a sale of 825,222 shares for about $23.11 million that day, among several transactions, and Chief Legal Officer Priya Aiyar filed sales on March 3 and March 10. The March cluster spanned both officers and directors of the company.
$WBD has also drawn activity on the congressional disclosure side. Representative Ro Khanna reported a $WBD purchase on April 13, 2026, disclosed 28 days later, and a sale on March 30, 2026, disclosed eight days after the trade, following earlier $WBD transactions in January and February. Representative Gilbert Cisneros reported a sale on February 10, 2026, and a purchase on January 9, 2026. Representative August Lee Pfluger Ii reported a sale on February 10, 2026, and Representative Julia Letlow reported a sale on December 8, 2025. Cisneros's February sale was disclosed 27 days after the trade, Pfluger's sale 37 days after, and Letlow's sale 36 days after. Congressional amounts are midpoint estimates of the bracketed ranges disclosed under the STOCK Act, rather than exact dollar figures.
On August 11, $WBD shares closed at $27.07, with the day's trading range spanning $26.875 to $27.225; the reported sale price of $26.97 sat inside that range. $WBD closed at $26.87 on August 10 and $26.78 on August 7 before the August 11 close. The $26.97 level also sat below the per-share prices recorded in the March 2026 insider cluster, where the larger sales ranged from roughly $27.35 to $28.05. Warner Bros. Discovery is a media company with a market capitalization of roughly $63.86 billion. Lowe's remaining position of 990,108 shares was disclosed on the same Form 4 that reported the sale.