secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K/A
Filed at:   2025-06-17T23:59:59+00:00
Accession:  0001437107-25-000157
Event type: leadership
Sentiment:  neutral
Materiality: 0.85
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/0001437107-25-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710725000157/disca-20250612.htm
  HTML page:      https://secwatch.observer/filing/0001437107-25-000157

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer