David Zaslav’s 2025 Pay Levitates To $165 Million On Option Awards

Warner Bros. Discovery CEO David Zaslav saw his 2025 pay package triple to $165 million from $51.9 million the year before on option awards valued at $109.6 million. The grant was part of an amended employment agreement with the chief executive last year as a one-time bonus when the company was planning to split in half and the company opted to keep in place although the separation never happened.

A merger with Paramount is pending, instead, which will result in a fat golden parachute payout to Zaslav if and when it closes.

“Certain of the Committee’s actions in 2025 were designed to support retention and incentivize our pursuit of other strategic options. Although the separation was not completed and the Paramount merger was subsequently approved, certain of these compensation actions remain in effect,” according to WBD’s proxy statement filed with the SEC Thursday.

“In connection with the strategic actions described above that were taken in 2025 to unlock stockholder value, the Committee took several compensation actions intended to align the incentives of our NEOs with the outcomes of such actions. Many of the actions, such as entering into new employment agreements with certain of our NEOs, would only have been effective upon a corporate separation and, with the Board’s decision to abandon the proposed separation transaction in favor of a merger with Paramount, are moot. The compensation actions that remain in effect notwithstanding the fact that we have abandoned the separation are described below,” the proxy said — including the option grant.

Aside from the giant signing bonus, if the split had happened, Zaslav – one of the highest paid CEOs – would have seen generally reduced annual compensation as head of a pared down Warner. Bros.

The rest of Zaslav compensation includes a base salary of $3 million, stock awards valued at $22.6 million, non-equity incentive plan compensation (a cash bonus) of $25.7 million, and “other” pay of $4.1 million.

More to come