Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 68

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 68
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 Policy which is intended to comply with the SEC’s and Nasdaq’s rules requiring adoption of a clawback policy applicable to incentive-based compensation for current and former Section 16 officers of listed companies. All current Section 16 officers of the Company, including all of the NEOs, have agreed in writing that employment agreements and other compensation agreements and plans are subject to the policy. Under the policy, if the Company is required to restate its financial results due to material noncompliance with financial reporting requirements under the securities laws, the Company will recoup any erroneously awarded incentive-based compensation from the Company’s current and former executive officers.

In addition, our equity grant documents for all employees, including the NEOs, contain clawback language that provides, in addition to any other remedies available to us (but subject to applicable law), if the Board, or the Committee, determines that any employee has engaged in fraud or misconduct that resulted in a financial restatement, we may recover, in whole or in part, any equity-based compensation, received by the employee from us in the 12 months after the filing of the financial statement that was found to be non-compliant. The Committee adopted these grant provisions as a further deterrent to fraudulent activity.

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| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

#### Hedging and Derivative Trading Transactions
Our insider trading policyprohibits employees, including the NEOs, and our directors from engaging in certain derivative transactions. Specifically, they may not, at any time:

■ trade in any public puts, calls, covered calls or other derivative products involving Company securities; or

#### ■

#### engage in short sales of Company securities.
Hedging of our stock by the NEOs is only permitted with the prior approval of our Chief Legal Officer. In 2024, none of our NEOs engaged in any hedging transactions.

#### Tax Considerations
Section 162(m) of the Internal Revenue Code generally disallows a federal income tax deduction to any publicly held corporation for compensation paid in excess of $1,000,000 in any taxable year to any person who is a "covered employee" under this rule. The term "covered employee” includes any person who is or was a named executive officer of the Company under the proxy disclosure rules in any year after 2016. Accordingly, to the extent