Warner Bros. Discovery shareholders have voted down a non-binding “say-on-pay” measure to approve the 2024 compensation packages of CEO David Zaslav and other top executives, indicating that nearly 60% of the votes cast were against the pay packages. The majority of shares voted on the advisory were in favor of the executive compensation program in 2024, but the board’s compensation committee has taken additional steps to enhance the program following the negative vote.
In 2025, Zaslav’s pay package rose 4.4% to $51.9 million, with a base salary of $3 million and stock awards worth $23.1 million. The company’s latest proxy statement shows that Zaslav’s compensation was determined by a weighted formula tied to company performance against preset financial and strategic goals.
Shareholders have expressed concerns over the significant increase in executive compensation despite stagnant stock prices. The rejection of Zaslav’s salary is “non-binding,” meaning it will not change anything. However, it serves as a warning shot that shareholders are watching and may take action if necessary.
The vote follows the company’s efforts to cut content and budgets, resulting in the gutting of its library and limiting its investments in the future. The move has sparked criticism from fans and industry professionals who feel that the executives’ massive bonuses are unjustified.
Source: https://variety.com/2025/tv/news/warner-bros-discovery-shareholders-vote-against-zaslav-ceo-pay-1236417375