Warner Bros. Discovery Advances Split and Ties Zaslav’s Pay to Performance
Shareholder backlash prompted a three-quarter cut in his annual cash bonus with new stock options tied to total shareholder return.
Overview
- Warner Bros. Discovery is breaking into WBD Streaming & Studios led by Zaslav and WBD Global Networks under Gunnar Wiedenfels, with the split set to finalize by mid-2026.
- Zaslav’s base salary remains $3 million but his annual cash bonus target has been slashed to $6 million from $24 million.
- His new equity package includes nearly 21 million stock options split between performance-vesting and time-based grants.
- Future bonuses will hinge primarily on total shareholder return rather than debt reduction or cash flow goals.
- The overhaul responds to an earlier non-binding shareholder vote and incorporates feedback alongside peer benchmarking by the compensation committee.