Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 3

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 3
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ve Amendment to 2011 Employee Stock Purchase Plan                                                                                                                                                                                                                                         
 The Board has approved, and is submitting to stockholders for approval, an amendment to the 2011 Employee Stock Purchase Plan to provide 25 million additional shares to be used for future purchases by employees.                                                                                          |     | See page101 |     | The Board of Directors recommends a vote"FOR"this proposal. |

#### 2025 PROXY STATEMENT7
| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

#### Our Board Nominees
Our Board believes that it is essential that Board members represent diverse experiences and viewpoints and includes directors who bring a mix of fresh perspectives and deeper experience.

Details on our Board nominees are as follows (age and tenure information is shown as of June 2, 2025, the date of our 2025 Annual Meeting). Mr. Levy, who is not currently on the Board, has been nominated for election by our stockholders at the 2025 Annual Meeting - more information on Mr. Levy can be found in the section below titled "Nominees for Election."

| AC |     | Audit Committee |     | CC |     | Compensation Committee |     | NCGC |     | Nominating and Corporate Governance Committee |

|                                                                     |     | Committee Chair |     | I |     | Independent |     | * |
| Tenure includes prior service on Discovery, Inc. Board of Directors |     |                 |     |   |     |             |     |   |

| 92% (12 of 13)                                     
 Director Independence                              |     | 4 years                                 
 Average Tenure of Independent Directors |
| 92% (11 of 12)                                     
 of the Independent Directors joined WBD since 2022 |     |                                         |

| 8 |

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

#### Stockholder Engagement and Board Responsiveness
Our Board values stockholder feedback and is committed to robust stockholder outreach. Stockholder feedback is conveyed to the full Board and respective committees of the Board and informs the Board and Board committees discussions and decisions.

Following our 2024 Annual Meeting of Stock