Zaslav's $246.6M Pay Package Raises Investor Questions

This substantial payout comes as Zaslav prepares to lead the combined Warner Bros. Discovery entity following the nearing merger of WarnerMedia and Discovery.

While the options are illiquid for years and contingent on success, their sheer size is expected to reignite debates over executive compensation. The package also included $13.1 million in stock awards, $22 million in other compensation, and a $4.4 million bonus.

Notably, his employment contract allows for 125 hours of personal Netjets use and stipulates rapid vesting of most options within 30 days if there's a change of control post-merger. Discovery's board justified the compensation by citing Zaslav's "extraordinary leadership" during a pandemic-impacted year and his pivotal role in negotiating the $43 billion AT&T spinoff deal, which is slated to close in Q2 2022.

This isn't Zaslav's first record-setting package, having received $129.4 million in 2018, with similar accounting for stock option values.