Discovery CEO David Zaslav’s overall pay package deal got here to greater than $246 million for 2021 as the corporate prepares to near its merger with WarnerMedia.
That compares with $37 million the yr ahead of and was once inflated by means of a big $202 million possibility grant awarded closing yr when his contract was once prolonged thru 2027.
Zaslav’s base wage of $3 million was once unchanged. His inventory award of $13 million was once up from $12 million and his non-equity incentive plan reimbursement — like an advantage — was once set at $22 million vs. $12 million, in step with Discovery’s proxy commentary filed with the SEC nowadays.
However the overall is a document even for a CEO recognized for drawing in large reimbursement applications.
The file famous that the choice quantities mirror the grant date honest price of the choices, now not “exact bills” and “there may also be no assurance that the entire grant date honest price will ever be discovered.” That’s for the reason that choices require the inventory to hit positive metrics over the seven years ahead of they’re within the cash. (Discovery inventory, now at $23, would want to hit $35 for the primary tranche to be exercised, the corporate famous.)
The theory is that Zaslav can be incentivized to create price for shareholders. Then again, shareholders’ rights teams had been pushing again on oversized applications like those, wondering in the event that they will have to actually be important for a CEO to do a excellent activity.
Discovery shareholders voted on Friday to approve the mix with WarnerMedia. AT&T is now within the technique of spinning off the media corporate and the deal is predicted to near subsequent month.
Proxies set out the salaries of a public corporate’s best 5 absolute best compensated executives.
CFO Gunnar Wiedenfels noticed his pay upward push to $11.3 million from $6.9 million. Leader Construction, Distribution and Felony Officer Bruce Campbell went to $12.6 million from $9.1 million. Leader Company Running Officer David Leavy’s pay rose to $6.4 million from $5.2 million. And Jean-Briac (JB) Perrette, President and Leader Govt Officer, Discovery
Global, noticed his package deal upward push to $13.4 million from $10.4 million.