Warner Bros. Discovery CEO David Zaslav has sold $30.1 million in stock as part of “year-end income tax and gift/estate planning activities,” according to a filing with the U.S. Securities and Exchange Commission.
The executive sold 2.564 million shares at a weighted average price of $11.73 on Monday. Following the sale, Zaslav beneficially owns 3,453,591 shares as well as 153 shares indirectly owned by his spouse.
The stock sale comes as Warner Bros. Discovery shares are down about 65.7% since the company’s April 2022 merger, 5.6% in the past year and 3% year to date. However, WBD stock is up 61.5%