WBD CEO Zaslav gets 20.9M stock options tied to separation; Wiedenfels set as CEO of Global Networks

Warner Bros. Discovery, Inc.

Zaslav receives 20,898,776 performance- and time-based stock options; 92% forfeitable if separation not completed by Dec 31, 2026.
Post-separation, Zaslav's base salary drops to $3M, bonus target to $6M; annual equity target $15.5M in first year then $7.5M.
Wiedenfels employment agreement contingent on separation; he becomes CEO of Global Networks with $2.5M salary, 350% bonus target, $16M annual equity target.
Performance-vesting options in three tranches: WBD stock prices $12.19, $15.24, $16.76 achieved over 30 consecutive days.
Single-trigger change-in-control severance eliminated for Zaslav effective immediately; replaced with double-trigger provision.

item 5.02item 9.01

Executive movements

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Role change

Gunnar Wiedenfels

CEO of Global Networks

WBD · Warner Bros. Discovery, Inc.

Filed: Jun 17, 2025 23:59 UTC

the terms and conditions of his employment as the CEO of Global Networks after the Separation.

Role change

David Zaslav

Chief Executive Officer

WBD · Warner Bros. Discovery, Inc.

Filed: Jun 17, 2025 23:59 UTC

Mr. Zaslav is anticipated to become the CEO of Streaming & Studios.

Source: SEC EDGAR

accession 0001437107-25-000157

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