---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-25-000157"
form_type: "8-K/A"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2025-06-17T23:59:59+00:00"
generated_at: "2026-05-19T04:31:00.895962+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437107-25-000157
- form_type: 8-K/A
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2025-06-17T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/0001437107-25-000157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/disca-20250612.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-25-000157
- JSON: https://secwatch.observer/filing/0001437107-25-000157.json
- Plain text: https://secwatch.observer/filing/0001437107-25-000157.txt

## Key facts
- Executive change
  Gunnar Wiedenfels was appointed as CEO of Global Networks at Warner Bros. Discovery, Inc..
  - Action: appointed
  - Role: CEO of Global Networks
  source text: the terms and conditions of his employment as the CEO of Global Networks after the Separation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/0001437107-25-000157-index.htm
- Executive change
  David Zaslav was appointed as Chief Executive Officer at Warner Bros. Discovery, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Mr. Zaslav is anticipated to become the CEO of Streaming & Studios.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/0001437107-25-000157-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.