Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 292

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 292
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) held by each individual who is a Company Group Employee or Former Company Group Employee, whether vested or unvested, shall, after adjusting for the
attainment of any performance criteria applicable to any such unvested Employer Method PRSU Award pursuant to , be converted, as provided in this , into an Adjusted
Company RSU Award, and shall otherwise be subject to the same terms and conditions (including with respect to service-based vesting and, if applicable, any deferred distribution schedule) after the Distribution Effective Time as were applicable to
such Employer Method RSU Award and Employer Method PRSU Award immediately prior to the Distribution Effective Time. The number of Company Shares subject to the Adjusted Company 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 Employer Method RSU Award or Employer 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 Company Conversion Ratio.

(ii) SpinCo Group Employees and Former SpinCo 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) held by each individual who is a SpinCo Group Employee or Former SpinCo Group Employee, whether vested or unvested, shall, after adjusting for the
attainment of any performance criteria applicable to any such unvested Employer Method PRSU Award pursuant to , be converted, as provided in this , into 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 Employer Method RSU Award and Employer Method PRSU Award
immediately prior to the Distribution Effective Time. 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 Employer Method RSU Award or Employer Method PRSU Award, as applicable, immediately prior to the Distribution Effective Time (which for any unvested Employer Method PRSU Award shall be determined pursuant to
), multiplied by() the SpinCo Conversion Ratio.

(iii) Post-2025 PRSU Awards. Effective as of the Distribution Effective Time, each Post-2025 PRSU Award, whether vested