Company: WBD
Filing Date: 2025-01-14
Form Type: 8-K
Source: 0001437107-25-000004
Chunk: 1

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-01-14
Form: 8-K
Item: Item 5.02
Chunk 1
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, and chief executive officer of Angi, Inc. (“ Angi”). Upon the earlier of the completion of the announced separation of Angi from IAC and May 31, 2025, Mr. Levin will cease to serve as Chief Executive Officer and director of IAC, and will become the Executive Chairman of Angi and an advisor to IAC. Mr. Levin brings demonstrated experience adapting to a changing digital landscape and expertise regarding mergers, acquisitions, investments and other strategic transactions.

No arrangements exist between either Mr. Noto or Mr. Levin and any other person pursuant to which they were selected as directors. Except as otherwise described in this paragraph, there are no transactions in which Mr. Noto or Mr. Levin has an interest requiring disclosure under Item 404(a) of SEC Regulation S-K. The Company has had and continues to have a commercial business relationship with SoFi, pursuant to which SoFi from time to time purchases advertising on the Company’s platforms, on customary rates and terms. During 2024, the Company received approximately $20 million in revenue from SoFi. The Company has had and continues to have a commercial business relationship with Angi, pursuant to which Angi from time to time purchases advertising on the Company’s platforms, on customary rates and terms. For an interim period ending on April 30, 2024, Mr. Levin served as the chief executive officer of Angi. During that period, the Company received approximately $1.8 million in revenue from Angi.

Each of Mr. Noto and Mr. Levin will be compensated for his services on the Company’s Board pursuant to the compensation program for non-employee directors described in the Company’s proxy statement dated April 19, 2024 for the Company’s 2024 annual meeting of stockholders, except that the stock retainers granted in 2025 will be $240,000 and the cash retainers will be $105,000, in accordance with

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the changes implemented by the Board to the compensation program for all non-employee directors following the Company’s 2024 annual meeting of stockholders.

Item 7.01. Regulation FD Disclosure