Gunnar Wiedenfels, Chief Financial Officer of Warner Bros. Discovery (WBD), has demonstrated a pronounced selling bias in his recent insider transactions, with no purchases recorded in the latest filings. Since July 2025, Wiedenfels has executed 25 trades exclusively involving WBD shares, with $65.8 million in total sales outweighing $14.2 million in acquisitions. His most significant disposals include a $17.4 million sale on March 3, 2026, followed by multiple seven-figure transactions on March 4, 2026, totaling $12.6 million across five separate filings. The pattern intensified in early 2026, with 11 sales recorded between March 2 and March 6 alone, including a $3.7 million transaction and several others exceeding $2 million. Earlier activity in late 2025 showed similar dispositions, such as a $5 million sale on October 31 and multiple mid-sized transactions in September and December. While Wiedenfels acquired shares through derivative transactions—notably a $12.9 million award on February 27, 2026—these were offset by immediate sales. The absence of open-market purchases and the concentration of high-value disposals suggest a consistent reduction in his WBD position over the observed period.
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