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Discovery CEO made over $246 million in 2021 thanks to bumper stock options -Breaking

by Mike Robinson

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© Reuters. David Zaslav, President and CEO, Discovery, speaks at the Discovery section of the Television Critics Association’s (TCA), Summer Press Tour, Beverly Hills, California, U.S.A, July 25, 2019. REUTERS/Danny Moloshok

(Reuters) – Discovery NASDAQ:) Inc Chief executive Officer David Zaslav had a pay increase of about $246.6million in 2021. A filing Monday revealed that more than three-quarters came from stock options.

Zaslav was paid more than 550% of his salary in 2021. He also received option awards worth $202.9 Million.

A Discovery spokesperson said that the grant covers seven years and is subject to strike prices at $35.65 or more. Accordingly, Zaslav would only be paid if the shares price surges significantly. Discovery closed Monday’s trading at $23.88.

Zaslav negotiated an extension of his employment contract in May, after Discovery announced its $43 billion acquisition of AT&T (NYSE:)’s WarnerMedia. He will continue to serve as the executive in charge of Warner Bros Discovery until December 2027.

This deal will close during the second quarter of 2012. The deal passed U.S. Department of Justice’s antitrust review. It is now on track to close.

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