Warner Bros. Discovery enters new CEO/CFO employment agreements tied to planned separation

Warner Bros. Discovery, Inc.

CEO Zaslav receives signing options for 20.9M shares at $10.16; 92% forfeit if separation not closed by Dec 31, 2026.
Post-separation, Zaslav's base salary $3M, target bonus $6M, initial annual equity target $15.5M.
CFO Wiedenfels to become CEO of Global Networks post-separation; base $2.5M, target bonus 350%, annual equity $16M.
Single-trigger change-in-control severance for Zaslav eliminated; replaced with double-trigger effective June 12, 2026.
Options vest based on WBD stock price targets: 120% ($12.19), 150% ($15.24), 165% ($16.76) over 30 consecutive days.

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