Company: WBD
Filing Date: 2025-03-31
Form Type: 8-K
Source: 0001437107-25-000063
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Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-03-31
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 31, 2025, the Board of Directors (the “ Board”) of Warner Bros. Discovery, Inc. (the “ Company”) adopted a resolution to increase the size of the Board to fourteen directors, effective immediately following the Company’s 2025 Annual Meeting of Stockholders, as permitted under the Company’s Second Restated Certificate of Incorporation and the Company’s Amended and Restated Bylaws.

Following the future increase in the size of the Board and in accordance with the procedures set forth in the Company's Second Restated Certificate of Incorporation, on March 31, 2025, the Board appointed Anton Levy to the Board. Mr. Levy’s appointment will be effective immediately following the 2025 Annual Meeting of Stockholders. Mr. Levy’s initial term will run until the Company’s 2026 Annual Meeting of Stockholders. The Board determined, after considering all of the facts and circumstances, that Mr. Levy will qualify as an "independent director" as defined by the NASDAQ listing rules.

Mr. Levy is currently an Advisory Director at General Atlantic, a leading global investor with more than $103 billion in assets under management. Mr. Levy began his career at General Atlantic in 1998 and has held a number of senior leadership roles, including serving as Co-President and Chairman of Global Technology until January 2025 and on the firm’s Investment, Portfolio and Executive Committees. Mr. Levy brings significant investing experience and an exceptional track record of value creation to the WBD Board, having led many of General Atlantic’s most notable investments in leading technology companies, such as Airbnb, Alibaba Group, Crowdstrike, Facebook, Klarna AB, Mercado Libre, Slack, Snapchat, Squarespace and Uber.

No arrangements exist between Mr. Levy and any other person pursuant to which he was selected as a director. Except as otherwise described in this paragraph, there are no transactions in which Mr. Levy has an interest requiring disclosure under Item 404(a) of SEC Regulation S-K.

Mr. Levy will be compensated for his services on the 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 retain