Company: WBD
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001437107-25-000078
Chunk: 34

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 34
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 our compensation structure and program.

In our conversations with stockholders, several of you have indicated an appreciation for the existence of several compensation arrangements and contractual obligations in place at the time of the WarnerMedia Transaction, and conveyed an understanding that re-orienting our compensation structures is a multi-year endeavor for the Committee.

As outlined in the Compensation Discussion and Analysis (“CD&A”) below, we have disclosed the several actions the Committee has taken in line with stockholder feedback, our commitment to adopt the best-in-class practices, and our compensation philosophy.

We appreciate the support vocalized for our executive compensation philosophy even as stockholders pointed out aspects they believed we could improve, and the candid discussions as we presented our perspectives on these calls. We remain committed to engagement, appreciate the support since 2022, and look forward to a continued dialogue with you.

Sincerely,

#### Paul A. Gould,

#### Chair

#### Richard W. Fisher

#### Debra L. Lee

#### Kenneth W. Lowe
Geoffrey Y. Yang

#### 2025 PROXY STATEMENT51
| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

### Compensation Discussion and Analysis
This Compensation Discussion and Analysis ("CD&A") analyzes and discusses our executive compensation programs and provides information about the compensation we paid to our CEO, Chief Financial Officer ("CFO"), and the three other most highly compensated executive officers who were serving as executive officers at fiscal year-end (December 31, 2024) (collectively with the CEO and CFO, the "Named Executive Officers" or "NEOs"). The Compensation Committee (referred to in this CD&A as the "Committee") of the Board oversees all aspects of NEO compensation.

Our NEOs for 2024 are:

| David M. Zaslav                       
 President and Chief Executive Officer |     | Gunnar Wiedenfels       
 Chief Financial Officer |     | Bruce L. Campbell                  
 Chief Revenue and Strategy Officer |     | Jean-Briac Perrette       
 President and CEO, Global 
 Streaming and Games       |     | Gerhard Zeiler           
 President, International |

#### Compensation Philosophy and Practices

#### Compensation Philosophy
Our compensation philosophy is to pay for performance, encourage excellence, retain our high-performing executive talent across the blended organization and reward executives who deliver.

| Our executive compensation programs are designed to implement our pay