Company: WBD
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001437107-25-000078
Chunk: 105

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 105
---
 or more of the total combined voting power or value of our stock or that of any subsidiary. No employee may be granted an option under the ESPP that permits his or her rights to purchase common stock under the ESPP and any other employee stock purchase plan (as defined in Section 423(b) of the Internal Revenue Code) of WBD and our subsidiaries, to accrue at a rate that exceeds $25,000 of the fair market value of the common stock (determined at the date the option is granted) for each calendar year in which, at any time, the option is outstanding.

#### Offerings; Number and Purchase Price of Shares
We will make one or more offerings per calendar year to employees to purchase stock under the ESPP. Offerings may be made to eligible employees of WBD and all designated subsidiaries or to any combination of these entities. An offering will begin on such date as our Board or Compensation Committee may determine. Our Board or the Compensation Committee may vary many operational features of the ESPP on an offering-by-offering basis and can determine that a decision made for one offering will or will not apply for future offerings (unless prospectively revised), provided this flexibility is used in compliance with the tax laws. Each offering commencement period will begin an offering period that will run for a specified number of up to 24 months during which payroll deductions or other permitted contributions will be made and held for the purchase of shares at the end of that period. Our Board or the Compensation Committee may, on an offering-by-offering basis, choose differing offering periods and/or choose differing offering commencement dates.

An eligible employee may participate in the offering by completing and forwarding any required documentation no later than 10 days prior to the applicable offering commencement date. Unless an employee files a new form or withdraws from the ESPP, his or her payroll deductions, if applicable, and purchases will continue at the same rate for future offerings as long as the ESPP remains in effect.

If the ESPP Amendment is approved by our stockholders, a total of up to 27,568,638 shares may be purchased under the ESPP. For employees for whom payroll deductions may be used, an employee may elect to have up to 10% (in whole percentages only) deducted from his or her compensation (as defined in the ESPP) for the purpose of purchasing stock under the ESPP and we will maintain payroll deduction accounts for each such employee based on their election. Our Board or the Compensation Committee may designate a lower maximum contribution rate. Our