---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-25-000219"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:17:41.990279+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Warner Bros. Discovery amends CEO Zaslav's employment agreement amid strategic review

## Summary
- Board initiated a strategic review of alternatives after unsolicited interest, considering full-company or separate transactions for Warner Bros. and Discovery Global.
- Amendment treats a Reverse Spinoff (spinning off Discovery Global) identically to the original Separation for Zaslav's stock options.
- If WBD enters a Qualifying Change-in-Control agreement before Dec 31, 2026, Zaslav's signing options remain outstanding and vest eligible.
- Employment term extended to Dec 31, 2030 if a Qualifying CIC Agreement is signed before the outside date, securing Zaslav's leadership.
- Internal restructuring transactions necessary for strategic alternatives will not trigger accelerated vesting or change-in-control definitions.

## SEC filing metadata
- accession: 0001437107-25-000219
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000219/0001437107-25-000219-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000219/disca-20251107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-25-000219
- JSON: https://secwatch.observer/filing/0001437107-25-000219.json
- Plain text: https://secwatch.observer/filing/0001437107-25-000219.txt

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