David Zaslav, the CEO of Warner Bros. Discovery (WBD), has filed to sell more than 4 million shares worth more than $114 million. This comes just after the company made a big deal with Paramount Skydance. After almost a year of not being able to make deals, this executive stock sale opens a trading window.
According to SEC filings, Zaslav’s deal includes 4,041,149 shares worth $114,118,246, which are set to close on March 3, 2026. A standard practice for these kinds of insider trades is to use some of the money to pay taxes. The shares come from grants of compensation made between January 2023 and February 2026.
Top WBD executives like CFO Gunnar Weidenfels, streaming head JB Perrette, chief revenue officer Bruce Campbell, and international chief Gerhard Zeiler also filed to sell millions of shares. These sales happen during post-earnings windows to avoid problems with insider trading. Overall, the senior executives could make more than $100 million, and Zaslav could make more than $600 million from his holdings, depending on the final terms of the deal.
The sales come after WBD agreed to sell to Paramount Skydance for $31 per share, a big jump from $11 a year ago, when Netflix pulled out of the deal. This payout expectation is what drives the timely stock sales during the merger process.
