Discovery CEO David Zaslav’s 2021 Pay Package Totaled $246M On Massive Stock Option Grant
deadline.comDiscovery CEO David Zaslav’s total pay package came to more than $246 million for 2021 as the company prepares to close its merger with WarnerMedia.That compares with $37 million the year before and was inflated by a large $202 million option grant awarded last year when his contract was extended through 2027.Zaslav’s base salary of $3 million was unchanged.
His stock award of $13 million was up from $12 million and his non-equity incentive plan compensation — like a bonus — was set at $22 million vs. $12 million, according to Discovery’s proxy statement filed with the SEC today.But the total is a record even for a CEO known for drawing in big compensation packages.The document noted that the option amounts reflect the grant date fair value of the options, not “actual payments” and “there can be no assurance that the full grant date fair value will ever be realized.” That’s because the options require the stock to hit certain metrics over the seven years before they’re in the money.
Discovery stock, now at $23, would need to hit $35 for the first tranche to be exercised, the company said.Discovery shareholders voted on Friday to approve the combination with WarnerMedia.
AT&T is now in the process of spinning off the media company and the deal is expected to close next month,MORENew and returning series on broadcast, cable and streamingSeries that made it or didn’t make it in 2020-21Broadcast networks’ fall lineups and schedules
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