Warner Bros. Discovery has tweaked its CEO’s employment contract, granting a bigger pot of restricted stock units but linking them to free cash flow targets.
David Zaslav, who is currently entitled to receive annual performance-related restricted stock (PRSU) awards with an initial value of $12 million, could now double the number of shares underlying that if the company meets targets.
And he’ll also receive PRSU award valued at$11.5 million. In an SEC filing today, WBD said it is also setting aside another $27 million worth of PRSUs for top executives and other employees.
Cash flow is a key metric, allowing companies to pay down debt. That’s a major focus for WBD, whose debt stood at nearly $50 million.Read more on deadline.com
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