Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 283

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 283
---
 DSU Awards and SpinCo Option Awards, shall be deemed to refer to a “Change in Control” as defined in any SpinCo Equity Plan or any applicable award
agreement (a “”). Without limiting the foregoing, a SpinCo Change of Control shall also be treated as a Company Change of Control for purposes of Adjusted Company RSU Awards, Adjusted Company DSU Awards or
adjusted Company Options held by SpinCo Group Employees, Former SpinCo Group Employees and SpinCo Group directors.

(b) Effect of the Merger. To the extent that any Adjusted Company RSU Awards and Adjusted Company Option Awards held by SpinCo Group Employees and Former SpinCo Group Employees are outstanding as of the Effective Time (as defined in the Merger Agreement):
() () the Company or its Affiliate shall remit all cash amounts payable pursuant to Section 3.9 of the Merger Agreement in respect of vested Adjusted Company RSU Awards and Adjusted Company Options held by SpinCo Group
Employees and Former SpinCo Group Employees to SpinCo or its designated Affiliate and () a SpinCo Group Member shall pay such amounts, less any required withholding Taxes, to such individuals through payroll; and
() () the Company or its Affiliate shall remit to SpinCo or its designated Affiliate amounts in cash equal to the amounts in respect of the contingent rights to receive cash pursuant to Section 3.9 of the Merger Agreement
(the “”) that become payable to such individuals in respect of unvested Adjusted Company RSU Awards and Adjusted Company Option Awards held by SpinCo Group Employees and Former SpinCo Group Employees as soon as
practicable (and no later than 30 days) after such amounts become payable to such individuals and () a SpinCo Group Member shall pay such amounts, less any required withholding Taxes, to such individuals through payroll. The Parties
shall cooperate to facilitate the settlement of Buyer Cash Awards in accordance with the preceding sentence, including with respect to information sharing between the Parties. In furtherance of the foregoing, SpinCo shall timely inform the Company
regarding changes in the employment status of SpinCo Group Employees who hold Buyer Cash Awards that impact their entitlements to such Buyer Cash Awards or the payment timing with respect thereto. To the extent any payment made by a SpinCo Group
Member in accordance with this in the time periods provided herein would trigger a Tax or penalty under Section 409A of the Code, such payments shall be made on the earliest date that payment would not
trigger such Tax or penalty.