Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 19

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 19
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), and Robert Miron (an immediate family member of Steven Miron), in connection with litigation relating to the WarnerMedia Transaction. The lawsuit named certain of our former directors (including the Mirons) and Advance/Newhouse as defendants and generally alleged that the former directors and Advance/Newhouse breached their fiduciary duties in connection with the WarnerMedia Transaction (the “Stockholders Litigation”). The parties agreed to settle the Stockholders Litigation in July 2024. We paid the Mirons the combined sum of $25.0 million in satisfaction of potential claims for advancement and indemnification relating to the Stockholders Litigation.

#### Board Role in Risk Oversight
The Board has overall responsibility for overseeing risk management at WBD and has delegated functional oversight for certain risks to each of the three standing Board committees, as highlighted in the chart below. While each committee is responsible for evaluating certain risks and overseeing the management of such risks, our entire Board is regularly informed about such risks through committee reports and other presentations. Senior management is responsible for developing and implementing the Company’s financial and strategic plans and identifying, evaluating, managing, and mitigating the risks inherent in those plans. Our Board is responsible for overseeing those plans, the associated risks, and the steps that senior management is taking to manage and mitigate risks.

In order to assess key risks, challenges and opportunities, we maintain a customized enterprise risk management program, which considers financial, operational, regulatory, reputational, extended enterprise, strategic, technological and talent risks. The Audit Committee oversees this enterprise risk management program. Our Chief Audit and Risk Officer primarily leads the development and assessment of enterprise risk management processes and policies, including identifying, assessing and reporting on risks. Our Chief Audit and Risk Officer and other members of our senior management provide updates to the Audit Committee on the enterprise risk management program.

|                                                                                                                                 |     | Board of Directors                                    |     |                                                                      |
| ■has an active role, as a whole and at the committee level, in overseeing risk management                                       
 ■regularly discusses with senior management the Company's competitive positioning, long term strategic plans and key priorities 
 ■oversees management succession planning                                                                                        |     |                                                       |     |                                                                      |
| Audit Committee                                                                                                                 |     | Compensation Committee                                |     | Nominating and Corporate                                             
 Governance Committee                                                 |
| ■financial reporting                                                                                                            
 ■internal controls                                                                                                              
 ■cybersecurity and information technology                                                                                       
 ■data privacy                                                                                                                   
 ■sustainability reporting and disclosures                                                                                       
 ■compliance and ethics                                                                                                          |     | ■