Under Zaslav’s original employment contract, which was established in June based on the company’s planned split into Warner Bros. and Discovery Global, he was set to receive a “significant reduction in his annual compensation” upon its completion in April and a one-time grant of stock options – 92% of which was subject to forfeiture if a separation or qualifying transaction did not occur prior to Dec. 31, 2026. That contract would later be amended in November to allow Zaslav to retain his stock options in the event of a “reverse spinoff” – in which it kept Warner Bros. and spun off Discovery Global – as long as it was completed by Dec. 31, 2026. In the event WBD entered into a qualifying change in control before Dec. 31, 2026 and had not completed its split or a reverse spinoff, the amendment stated that Zaslav’s employment would continue through Dec. 31, 2030 — which would’ve been the case had the separation been completed prior to Dec. 31, 2026 rather than ending Dec. 31, 2027.
Author: Lucas Manfredi
Published at: 2026-03-03 23:47:36
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