Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 58

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 58
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's 2024 cash bonus.

The strategic goals for the CEO's 2024 PRSU awards were:

#### CEO Annual PRSU Strategic Goals
| Category           |     | Strategic Goals                                                                                                                                                                                                          |     | Weight |
| Corporate          |     | ■Develop a plan and begin implementation of growth initiatives to offset and mitigate significant declines across our business with defined key priorities related to streaming and franchise management and experiences |     | 30%    |
| Direct-to-Consumer |     | ■Achieve profitability consistent with budget, meet topline consistent with budget, and reduce churn for Max; develop a plan to grow digital ad sales                                                                    |     | 40%    |
| Studio             |     | ■Manage studios return to production after strike and develop clear operational milestones to lay the foundation for long-term growth across studios                                                                     |     | 30%    |

| 70 |

| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

Assessment of Performance for PRSUs Awarded to CEO in 2024

The Committee set a target of $3.75 billion in 2024 FCF for the 2024 PRSU awards to vest at target. Over-delivery of the target would make the awards eligible to vest above target, up to a maximum of 200% of target as set forth in the tables below. The Committee set the 2024 FCF target in early March of 2024. At the time the target was set, the Committee believed it to be rigorous and aligned with both our internal budget and forecasts.

As described above, the Committee annually reviews potential adjustments to performance against the financial metrics and determined it was appropriate to take an adjustment to performance in 2024. The adjustments made by the Committee had the effect of increasing our FCF performance as compared to our reported results and are reflected below under "Actual Achievement." However, our FCF performance prior to adjustment was $4.4 billion (*) , which exceeded the amount required for "Above Target" performance.

( * ) A non-GAAP financial measure; see Appendix D for additional details.

The determination as to whether the 2024 FCF metric was met was made during the first quarter of 2025, following review of the full-year 2024 financial results. In February 2025, the Committee also reviewed the CEO's 2024 performance