WBD Executives Receive More Than $1.1 Billion in Merger Pay

Warner Bros. Discovery executives received more than $1.1 billion in combined merger-related stock and options when Paramount completed its acquisition of the company on October 6, according to securities filings. Former chief executive David Zaslav accounted for $606.1 million of the reported total, the largest individual payout disclosed. The figures cover stock and options tied to the merger closing, not necessarily cash received immediately. Taxes and withholding apply, and stock options vest on varying schedules. The filings do not establish the executives’ final after-tax proceeds. Zaslav’s $606.1 million included $381.7 million in stock options, according to an SEC filing. Restricted stock units also converted into a right to receive cash. Separately, nearly $200 million in WBD shares were sold by Zaslav between the Paramount deal announcement in February and August, under a trading arrangement, filings showed. Those sales were distinct from his merger-closing compensation.