Warner Bros. Discovery CEO David Zaslav‘s compensation tied to the company’s pending merger with Paramount was rejected by an eye-opening 82% of shareholders, the company said Thursday.
Earlier in the day, the company convened a special shareholder meeting. Executives during the brief session noted that Zaslav’s pay package, which could wind up being as much as $886 million based on certain variables, had been voted down. The exact vote tally was subsequently released in an SEC filing.
The shareholder vote is non-binding, however, which means that the exec can still collect. Given the groundswell of opposition against the merger, on top of other miscues during Zaslav’s four-year run at the helm of the company, the shareholder sentiment is not likely to go unnoticed.
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Just 17% of the 1,761,474,302 shares represented in the meeting vote, representing about 70% of the
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