Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 63

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 63
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 retained Pay Governance LLC ("Pay Governance") to advise it on compensation matters generally and specifically on compensation decisions for our Section 16 Officers.

Pay Governance is retained directly by, and report to, the Committee. Pay Governance assisted the Committee by providing it with the following services, among others. Pay Governance does not provide any services to WBD management and did not provide any such services during 2024.

■ assisting in peer group selection and competitive benchmarking for executive officers and other senior executives used in the annual salary review, bonus and long-term incentive decisions;

■ advising the Committee on competitive and best practices, including executive compensation trends, performance measures, and annual cash bonus and long-term incentive plan designs;

■ advising on employee equity grants, executive employment agreements and other executive compensation matters;

■ assisting the Committee with the review of its charter;

■ providing an evaluation and assessment of risk in compensation program design, policies and procedures;

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#### reviewing this CD&A; and
■ benchmarking director compensation for Board and committee service.

The Committee annually reviews its relationship with any engaged independent compensation consultant to determine if any conflicts of interest exist in their provision of services to the Committee. The Committee also regularly conducts independence reviews for any current or newly engaged compensation consultant. In its 2024 review, after considering the factors set forth in the applicable securities regulations and stock exchange rules, the Committee concluded that Pay Governance did not have any conflict of interest with respect to the services it provide to the Committee. The Committee’s conclusion was based on the following:

■ Pay Governance reports solely to the Committee. Our management is not involved in the negotiation of fees charged by either firm or in the determination of the scope of work performed by either firm. The Committee has the sole authority to hire and terminate any independent compensation consultant;

■ there are no business or personal relationships between Pay Governance and any member of the Committee or any executive officer of the Company;

■ revenue from WBD (other than fees for services to the Committee) represented less than 1% of Pay Governance's total revenue for 2024;

■ Pay Governance disclosed its conflicts of interest policies to the Committee. The Committee believes that these policies provide reasonable assurance that conflicts of interest will not arise; and

■ Pay Governance has represented to the Committee that, per its respective conflicts of interest policies, neither the firm nor any of its employees is a WBD stockholder.

#### 2025 PROXY STATEMENT77
| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |