Zaslav sells $195M+ in WBD stock under pre-scheduled plan as merger awaits antitrust trial

An SEC filing shows CEO David Zaslav sold 773,173 WBD shares for $21.7 million in August 2026, bringing his total sales to over $195 million since the Paramount Skydance acquisition was struck. The sales run through a Rule 10b5-1 plan — pre-scheduled trades that shield executives from insider-trading claims — adopted March 12 and terminating August 14, per WBD's first-quarter 10-Q. The merger faces a March 2027 antitrust trial filed by 12 state attorneys general.