Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 279

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 279
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Distribution Effective Time.

(i) Adjusted Company RSU Award.The number of Company Shares subject to the Adjusted Company
RSU Award shall be equal to the number of Company Shares subject to the corresponding Shareholder Method RSU Award or Shareholder 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 ).

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(ii) SpinCo RSU Award. 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 Shareholder Method RSU Award or Shareholder 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 Distribution Ratio.

(d) Employer Method RSU and PRSU Awards.

(i) Company Group Employees and Former Company 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 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)