Liberty Media names Derek Chang as President & CEO effective Feb 1, 2025; Malone remains Chairman

Liberty Media Corp

Derek Chang appointed President & CEO, effective Feb 1, 2025; John Malone resigns as CEO, stays Chairman.
Chang receives $2.5M base salary, $150k signing bonus, one-time RSUs of $5M and $15M in FWONK, each vesting Feb 2030.
Eligible for annual $3M FWONK option grants on declining vest schedule (5 years to 1 year); severance provides 12-month salary if terminated without cause.
Chang steps down from Audit and Governance Committees; Gilchrist added to Audit, Bennett to Governance as Chair; Chang joins Executive Committee.

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