Posted on 03/15/2022 7:24:53 AM PDT by devane617
Discovery CEO David Zaslav’s total pay package came to more than $246 million for 2021 as the company prepares to close its merger with WarnerMedia.
That compares with $37 million the year before and was inflated by a large $202 million option grant awarded last year when his contract was extended through 2027.
Zaslav’s base salary of $3 million was unchanged. His stock award of $13 million was up from $12 million and his non-equity incentive plan compensation — like a bonus — was set at $22 million vs. $12 million, according to Discovery’s proxy statement filed with the SEC today. The total also included a special bonus of $4.4 million awarded a week ago for the executive’s “exceptional leadership” through Covid, launching Discovery+ and securing the WarnerMedia deal.
The total is a record even for a CEO known for drawing in big compensation packages. Breaking it out, the proxy noted that the option amounts reflect the grant date fair value of the options, not “actual payments” and “there can be no assurance that the full grant date fair value will ever be realized.” That’s because the options require the stock to hit certain metrics over seven years before they’re in the money. (Discovery stock, now at $23, would need to hit $35, for instance, for the first tranche to be exercised, the company noted.)
(Excerpt) Read more at deadline.com ...
Chump change.
Inflation?
If he can turn CNN into a legit, facts based news outlet that does fair investigative journalism...he’ll have earned it.
Just like the war in Ukraine, there’s a LOOOOONG list of factors behind this. We are only reacting to the headlines.
And at the root of it - NO, its not free-market capitalism. We live a form of late-stage empire central-planning, centralized political control, and socialist crony-capitalism. Of course some insiders will get very rich from their positions and connections.
If he can turn CNN into a legit, facts based news outlet that does fair investigative journalism...he’ll have earned it.
He didn’t make that much. $200 million of it is a stock option reward for renewing his contract that needs all kinds of big stuff to happen before he can turn that into money. That’s not actually even pay. He got another bonus of stock, which isn’t cash in his pocket until he sells. His actual pay was $25 million, which included a big fat bonus for getting them in a deal with one of the big dogs. Nothing wrong with that.
He is being targeted for slowing CNN's move to the left.
If the value from gaining the whole world wouldn't exceed the cost of losing one's soul, what's the big deal if a CEO, earns $246m in 365 days? Eternity, now that's what's insane; it's a long time, especially towards the end.
Guess he’s still looking for obxxx’s magic number of “Sooner or later you’ve made enough money.” Apparently obxxx ain’t reached it yet either.
“He is being targeted for slowing CNN’s move to the left.”
I hope you’re not falling for the MSM’s line on CNN these days...I really hope they have not wrangled you into believing CNN will be anything but a mouthpiece for the socialist dems.
Not with my money; dumped my stock 6 months ago.
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