Discovery CEO David Zaslav Received $246 Million in 2021

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Discovery CEO David Zaslav Received $246 Million in 2021
15 Mar 2022
6 min read

News Synopsis

Discovery Inc CEO David Zaslav received $ 246.6 million in compensation in 2021, including around $203 million in option grants, more than six times his compensation from the year before.

According to the Wall Street Journal analysis of securities filing data provided by MyLogIQ LLC, Zaslav's compensation package is the highest CEO salary reported by S&P 500 company to date this year.

Mr Zaslav's salary was $3 million. The increase in compensation was primarily due to the large-scale stock option grants made the night before the announcement of the merger plan with WarnerMedia for AT&T Inc. of Discovery last year.

He also received a $4.4 million cash bonus. Discovery has said in a statement earlier this month that the compensation was given for his leadership throughout the pandemic, expansion of its streaming service Discovery+, and its efforts over the past year to negotiate with WarnerMedia.

The CEO of Apple, Tim Cook is the second-highest-paid CEO after Mr Zaslav, who received total compensation of about $99 million in 2021, according to Apple’s securities filing. 

Around the time of the merger last year, Mr Zaslav signed a new contract that will last until 2027, according to the filing. The deal will give Zaslav a $1,400 monthly flat-rate car allowance and access to Discovery's business jets.

Discovery is also planning a merger with WarnerMedia, which has assets such as Warner Bros, CNN, and streaming service HBO Max, in the second quarter. AT&T shareholders are seeking to acquire approximately 71% of the entertainment company which will be called Warner Bros. Discovery.

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