Company: WBD
Filing Date: 2025-06-17
Form Type: 8-K/A
Source: 0001437107-25-000157
Chunk: 2

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-17
Form: 8-K/A
Chunk 2
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 as the CEO of Global Networks after the Separation. The Compensation Committee (“Committee”) of the Board of Directors (the “Board”) of the Company approved and recommended to the Board to enter into, and the Board approved such entry into, the Agreements so that we may secure the leadership of Messrs. Zaslav and Wiedenfels through the initial stages of the two new companies. The following summary description of certain provisions of the Agreements does not purport to be complete and is qualified in its entirety by the actual text of the Zaslav Agreement, form of David Zaslav Non-Qualified Stock Option Grant Agreement and Wiedenfels Agreement, which have been filed with this Current Report as Exhibits 10.1, 10.2 and 10.3, respectively, and are incorporated herein by reference.

#### Zaslav Employment Agreement

#### Introduction
With respect to the Zaslav Agreement, the Committee took the opportunity to redesign Mr. Zaslav’s compensation package following the effective time of the Separation, which the Committee believes will achieve the following goals:

• Secure Mr. Zaslav’s continued leadership and incentivize his critical contributions to position WBD for success until the Separation and to build a strong foundation for long-term stockholder value creation at Streaming & Studios;

• Address stockholder feedback and preferences with respect to CEO compensation structure; and

• Foster a stronger pay-for-performance alignment by allocating a significant portion of Mr. Zaslav’s target annual compensation to be at-risk in long-term equity incentives.

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In considering Mr. Zaslav’s new compensation package, the Committee, in consultation with its independent compensation consultant, assessed a range of inputs, including stockholder feedback obtained over the last few years, peer group practices and benchmarks, strategic priorities of WBD and the value creation opportunities presented by the proposed Separation. Additionally, the Committee considered Mr. Zaslav’s deep understanding of our strategy and operations, extensive industry experience and leadership, as well as his role in developing the vision for the separation of the two companies, which we believe uniquely positions him to lead us through the consummation of the Separation and serve at the helm of Streaming & Studios through its initial formative period as a standalone company.

Beginning upon the completion of the Separation, the Zaslav Agreement will significantly reduce his target annual compensation, including lowering his annual cash compensation opportunity and reorienting the total pay mix toward long