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Insider activity: Director Edward J. Rapp filed a Form 4 disclosing two equity grants made on 07/10/2025. He acquired 62,377 Restricted Stock Units (RSUs) that will vest on the earlier of 07/10/2026 or the eve of the 2026 annual meeting, and received an additional 1,601 RSUs in lieu of his Q2-2025 cash retainer for chairing the Audit Committee, which vested immediately. All shares were acquired at a cost of $0.

Post-transaction ownership: Rapp now holds 121,894 common shares directly (including 62,377 unvested RSUs) and 21,172 shares indirectly through a trust, bringing his total beneficial stake to 143,066 shares.

Key context:

• The grants are part of routine director compensation and were not open-market purchases.
• Vesting of the larger RSU block requires Rapp’s continued board service through 2026, signalling expected tenure stability.
• No derivative securities were reported, and no dispositions occurred.

Sherwin-Williams (SHW) Form 4 filing overview

Sherwin-Williams director Kerrii B. Anderson reported a small, routine acquisition of deferred stock units on 7 July 2025 under the company’s 2005 Director Deferred Fee Plan. The filing shows:

• Transaction: 28.86 deferred stock units (economic equivalent of one common share each) were credited to Anderson’s account at a weighted-average reference price of $346.53.
• Nature: Exempt, automatic deferral of director fees rather than an open-market share purchase; units become payable in common stock after Anderson leaves the board.
• Post-transaction beneficial ownership: 948.59 deferred stock units held indirectly through the plan, plus 5,261 directly held equity interests (4,111 common shares and 1,150 restricted stock units).
• Ownership status: Anderson remains a non-executive director and files individually.

The activity is de minimis relative to Sherwin-Williamsâ€� 255 million share count and does not signal a directional view on the stock. It is primarily an administrative conversion of board fees into equity and therefore carries limited investment significance.

Warner Bros. Discovery (WBD) � Form 4 insider filing: Director Samuel A. Di Piazza Jr. accepted equity compensation in lieu of his quarterly cash retainer, acquiring 6,545 Series A common shares on 06/30/2025 at a stated price of $0. His direct holdings rise to 197,467 shares; an additional 3,443 shares are held indirectly through his spouse. No derivative securities or open-market purchases were reported. The filing represents routine board compensation and is unlikely to have a material impact on Warner Bros. Discovery’s share float or insider-ownership profile.

Warner Bros. Discovery (WBD) Form 4 filing: On 30 June 2025, director Anthony Noto acquired 2,509 Series A common shares at $0 per share, electing to receive equity instead of his quarterly cash retainer for board service.

The award increases his direct ownership to 39,726 shares. No derivative securities, sales, or option exercises were reported. Because this is a routine, cash-in-lieu stock grant, it has no material impact on WBD’s capital structure or near-term financials but modestly strengthens insider alignment.

Warner Bros. Discovery, Inc. (WBD) filed a Form 4 reporting that Director Paula A. Price received 3,164 shares of Series A Common Stock on 06/30/2025. The shares were issued at a stated price of $0 because Ms. Price elected equity in lieu of her quarterly cash retainer for board service. After this routine compensation grant, her direct beneficial ownership rises to 89,694 shares. No derivative securities, sales, or 10b5-1 plan transactions were disclosed. The filing, signed 07/02/2025, represents normal director compensation and does not materially affect WBD’s capital structure or near-term outlook.

Amendment No. 2 to Schedule 13D filed on July 1, 2025 discloses that A/NPP Diversified Holdings LLC, Advance/Newhouse Partnership, Advance Publications, Inc. and Newhouse Broadcasting Corp. (collectively, the “Reporting Personsâ€�) have sold 100,000,000 shares of Warner Bros. Discovery, Inc. (WBD) Series A common stock in a block trade executed on June 30, 2025 at a net price of $10.97 per share. The disposition comprised 14,158,459 shares held by Advance/Newhouse Partnership and 85,841,541 shares held by A/NPP Diversified.

Following the transaction, the Reporting Persons now beneficially own 98,181,749 shares, all held by A/NPP Diversified, representing 3.97 % of WBD’s 2,474,075,003 outstanding Series A shares (as of April 25, 2025). Because their ownership has fallen below the 5 % threshold, they have ceased to be �5 % beneficial owners� under SEC rules.

The sale is described as providing “financial flexibility to support ongoing estate planning, the investment program, and other general corporate purposes.� The Reporting Persons retain sole voting and dispositive power over their remaining stake; no shared powers are reported. An internal reorganisation on December 30, 2024 transferred 184,023,290 shares to A/NPP Diversified, consolidating ownership prior to the sale.

No criminal or civil proceedings involving the Reporting Persons are disclosed, and a Joint Filing Agreement (Exhibit 99.1) accompanies the filing.

Warner Bros Discovery (Nasdaq:WBD) entered into a $17.0 billion secured 18-month bridge loan arranged by JPMorgan to fund cash tender offers, repay a January 2025 364-day term loan and support general corporate purposes. The loan is guaranteed by WBD and key subsidiaries, secured by substantially all personal property assets and priced at SOFR + 3.00% to December 30 2025, stepping to +3.50% and +4.00% thereafter. Maturity is the earlier of 18 months or closing of the planned Streaming & Studios spin-off; voluntary prepayments are penalty-free, and mandatory prepayments apply to new debt, equity or asset-sale proceeds.

On the same date, the company executed Amendment No. 1 to its multicurrency revolving credit facility, cutting aggregate commitments to $4 billion, aligning covenants with the bridge loan and providing for early termination once the separation occurs. Neither facility includes financial maintenance covenants but both impose tighter limits on dividends, liens, mergers and investments.

The transactions bolster near-term liquidity yet materially increase secured debt and reduce undrawn revolver capacity, impacting leverage and future financial flexibility.

Warner Bros. Discovery, Inc. ("WBD") filed an 8-K on 24 June 2025 to disclose an Other Event relating to previously announced cash tender offers for substantially all outstanding notes and debentures issued by four wholly owned subsidiaries—Discovery Communications, LLC, WarnerMedia Holdings, Inc., Warner Media, LLC and Historic TW, Inc.

The filing confirms that:

• The tender offers and related consent solicitations were originally launched on 9 June 2025 via an Offer to Purchase and Consent Solicitation Statement.
• On 24 June 2025 WBD released two press statements: Exhibit 99.1 describes early participation results; Exhibit 99.2 details the pricing terms of the offers.
• No financial statements were included in the 8-K; quantitative details of accepted principal, consideration or savings will be found only in the attached press releases.
• The transaction targets multiple series of outstanding notes, including 4.302 % Senior Notes due 2030 and 4.693 % Senior Notes due 2033, both listed on Nasdaq.

The company characterises the disclosure strictly as informational—neither an offer to purchase nor a solicitation to sell securities outside the terms of the Offer to Purchase. Completion of the tender offers remains subject to customary conditions outlined in the original documentation.

From a corporate-finance perspective, repurchasing debt could streamline WBD’s capital structure and potentially lower future interest obligations, but the 8-K itself provides no numerical evidence of balance-sheet impact. Investors will need to review Exhibits 99.1 and 99.2 for uptake percentages, cost of funds and projected interest savings before drawing firm conclusions.