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Warner Bros. Discovery Revises CEO David Zaslav Employment Agreement to ‘Significantly Reduce’ His Annual Pay After Company Split
WBD CEO David Zaslav will see his pay package take a haircut after the proposed separation of Warner Bros. Discovery in 2026. The company granted him $225 million in stock option awards.
Beginning upon the completion of the separation, a new employment agreement the company reached with Zaslav “will significantly reduce his target annual compensation, including lowering his annual cash compensation opportunity and reorienting the total pay mix toward long-term incentives,” according to an SEC filing Monday. The WBD board’s compensation committee said it believes the new structure “will foster a stronger alignment with stockholders and incentivize sustained, long-term value creation.” In addition, Zaslav is set to receive 3,052,734 stock options on Jan. 2, 2026, which will be subject to the same split of performance-vesting and time-based vesting conditions (provided that he remains employed on that date).
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