1 month ago
Warner Bros. Discovery CEO David Zaslav saw his 2025 salary package triple to $165 cardinal from $51.9 cardinal nan twelvemonth earlier connected action awards weighted astatine $109.6 million. The assistance was portion of an amended employment statement pinch nan main executive past twelvemonth arsenic a one-time prize erstwhile nan institution was readying to divided successful half and nan institution opted to support successful spot though nan separation ne'er happened.
A merger pinch Paramount is pending, instead, which will consequence successful a fat aureate parachute payout to Zaslav if and erstwhile it closes.
“Certain of nan Committee’s actions successful 2025 were designed to support retention and incentivize our pursuit of different strategical options. Although nan separation was not completed and nan Paramount merger was subsequently approved, definite of these compensation actions stay successful effect,” according to WBD’s proxy connection revenge pinch nan SEC Thursday.
“In relationship pinch nan strategical actions described supra that were taken successful 2025 to unlock stockholder value, nan Committee took respective compensation actions intended to align nan incentives of our NEOs pinch nan outcomes of specified actions. Many of nan actions, specified arsenic entering into caller employment agreements pinch definite of our NEOs, would only person been effective upon a firm separation and, pinch nan Board’s determination to wantonness nan projected separation transaction successful favour of a merger pinch Paramount, are moot. The compensation actions that stay successful effect notwithstanding nan truth that we person abandoned nan separation are described below,” nan proxy said — including nan action grant.
Aside from nan elephantine signing bonus, if nan divided had happened, Zaslav – 1 of nan highest paid CEOs – would person seen mostly reduced yearly compensation arsenic caput of a pared down Warner. Bros.
The remainder of Zaslav compensation includes a guidelines net of $3 million, banal awards weighted astatine $22.6 million, non-equity inducement scheme compensation (a rate bonus) of $25.7 million, and “other” salary of $4.1 million.
More to come
