Warner Bros. Discovery CEO is expected to receive close to $800 million in compensation following Warner's sale to Paramount Skydance.
According to the Wall Street Journal, CEO David Zaslav will receive upwards of $800 million of compensation as a result of the deal. The compensation package was disclosed as part of Paramount's $111 billion purchase of Warner Bros. Discover.
The newspaper reported that Zaslav will receive $504 million if the deal closes. Another $47 million would be triggered if Zaslov is fired or is forced out within a year of the deal's close. The newspaper reported that there also was $116 million more in equity that has already vested.
Variety noted that the package also includes a $335.4 million tax reimbursement for Zaslav that is dependent on IRS rules, the timing of the deal, and other factors.
The Wall Street Journal reported that the tax reimbursement would kick in if the other payments trigger a 20 percent federal excise tax on "golden parachute" severance payments. The excise tax issue could be avoided entirely if the deal closed in 2027, but the newspaper reported that Paramount wants to close it this fall.
Last month, Zaslav also sold about $114 million of WBD stock, Variety reported.
Variety reported that other compensation packages, consisting of a combination of equity and severance pay, include $142 million for J.B. Perrette, CEO and president of global streaming and games; $121.5 million for chief revenue and strategy officer Bruce Campbell; $120 million for CFO Gunnar Wiedenfels; and $119 million for Gerhard Zeiler, president of international.
