The revised numbers are out, and they’re big. Warner Bros. Discovery CEO David Zaslav is set to receive payments and benefits valued at well over $700 million at the close of the company’s planned sale to Paramount Skydance.
An SEC filing today lays out the numbers based on the $31 a share cash deal and the severance agreement included in the chief executive’s current employment contract.
The bundle is composed of $34.2 million in a cash severance payment; equity valued at $517.2 million, reflecting the aggregate cash value of unvested WBD options, unvested WBD RSUs and unvested WBD PRSUs (restricted stock units and performance restricted stock units); and $44.2 million in perquisites.
The document also included a tax reimbursement of $334 million that was calculated based on a March 11 close for the purposes of the filing. The company said the tax reimbursement number will go down
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