Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 291

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 291
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 the Distribution Effective Time. The number of SpinCo Shares subject to the SpinCo Option Award shall be equal to the product (rounded down to the nearest whole
share) of () the number of Company Shares subject to the corresponding Employer Method Option Award immediately prior to the Distribution Effective Time, multiplied by() the SpinCo Conversion Ratio. The per share
exercise price of the SpinCo Option Award shall be equal to the quotient(rounded up to the nearest cent) of () the per share exercise price of the corresponding Employer Method Option Award immediately prior to the Distribution
Effective Time, divided by () the SpinCo Conversion Ratio.

(c) Shareholder Method RSU and PRSU Awards.
Effective as of the Distribution Effective Time, each Shareholder Method RSU Award and Shareholder Method PRSU Award, whether vested or unvested, shall, after adjusting for the attainment of any performance criteria applicable to any such unvested
Shareholder Method PRSU Award pursuant to , be converted, as provided in this , into both an Adjusted Company RSU Award and a SpinCo RSU Award, and shall otherwise be
subject to the same terms and conditions (including with respect to service-based vesting) after the Distribution Effective Time as were applicable to such Shareholder Method RSU Award and Shareholder Method PRSU Award immediately prior to the
Distribution Effective Time.

(i) Adjusted Company RSU Award.The number of Company Shares subject to the Adjusted Company
RSU Award shall be equal to the number of Company Shares subject to the corresponding Shareholder Method RSU Award or Shareholder Method PRSU Award, as applicable, immediately prior to the Distribution Effective Time (which for any unvested
Shareholder Method PRSU Award shall be determined pursuant to ).

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(ii) SpinCo RSU Award. The number of SpinCo Shares subject to the SpinCo RSU Award
shall be equal to the product (rounded up to the nearest whole share) of () the number of Company Shares subject to the corresponding Shareholder Method RSU Award or Shareholder Method PRSU Award, as applicable, immediately prior
to the Distribution Effective Time (which for any unvested Shareholder Method PRSU Award shall be determined pursuant to ), multiplied by() the Distribution Ratio.

(d) Employer Method RSU and PRSU Awards.

(i) Company Group Employees and Former Company Group Employees Generally. Effective as of the Distribution Effective Time, each
Employer Method RSU Award and Employer Method PRSU Award (other than a Post-2025 PRSU Award