The influential shareholder proxy advisory firm Institutional Shareholder Services recommended that Warner Bros. Discovery shareholders reject the golden parachute pay packages for CEO David Zaslav and other top executives at the company, noting the “extraordinary” nature of the agreements.
But ISS also urged shareholders to approve WBD’s sale to Paramount Skydance, writing that “the proposed transaction is the result of a competitive sales process and public bidding war between NFLX and PSKY, which provides shareholders comfort that the proposed deal is the best available.”
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With regard to the golden parachutes, shareholders have an advisory vote, meaning that even if they reject it, the payments may still go through. That said, companies are often responsive to shareholder concerns around pay.
ISS notes that the cash severance for top executives other than Zaslav are “reasonable,” in both their size and in the fact
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