David Zaslav, the President and CEO of Warner Bros. Discovery, has made headlines by selling over $114 million worth of company stock. This move comes just a week after Warner Bros. Discovery secured a deal to be acquired by Paramount Skydance for $31 per share, following Netflix's withdrawal from their previous agreement. Zaslav's sale of 4,004,149 shares, valued at $114,118,246, was filed with the SEC on March 3, 2026. These shares were granted between January 2023 and February 2026 as part of his employment contract with Warner Bros. Discovery.
Despite this sale, Zaslav retains significant stock and options in Warner Bros. Discovery, which will vest if the Paramount Skydance acquisition goes through. This potential deal is estimated to be worth over $111 billion. With this transaction, Zaslav's net worth is projected to surpass $1 billion. His compensation has been substantial, with a 4.4% increase in 2024, reaching $51.9 million. This included a base salary of $3 million, stock awards of $23.1 million, a bonus of $23.9 million, and other compensation of $1.9 million.
However, Warner Bros. Discovery stockholders recently expressed their disapproval of Zaslav's pay package, voting against it in a symbolic, non-binding rebuke. In response, the company revised Zaslav's employment agreement, significantly reducing his target annual compensation and reorienting it towards long-term incentives. This adjustment reflects the company's commitment to aligning executive compensation with long-term value creation.
