Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 37

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 37
---
 ■Adjusted ICP payout scale to better align with prevailing market practice                                                                                                                                                                                                           
 ■Replaced Performance Pool utilized in prior years to recognize high-performing executives with a rigorous Individual Performance Multiplier that is only applied after assessment of performance versus financial goals                                                             |     | ■Enhances alignment of annual incentive payouts with preset Company performance goals                                                                                                                                                        
 ■Ensures that payouts for other NEOs are based on individual performance and are contingent upon the achievement of rigorous, pre-determined corporate financial goals and assessment of performance versus rigorous preset individual goals |
| ■WBD should enhance utilization of performance-based long-term incentives         
 ■Investors want metrics to align with TSR/stock price                             |     | ■Maintained CEO annual equity to consist 100% of PRSUs                                                                                                                                                                                                                               
 ■Ensured a significant portion of annual equity awards were in the form of PRSUs for other NEOs                                                                                                                                                                                      
 ■Strengthened TSR modifier to have a greater impact on payouts and better align with prevailing market practice                                                                                                                                                                      |     | ■Ensures executives focus on Company performance against preset goals, with ultimate payouts based on stock price performance                                                                                                                |
| ■WBD should eliminate Supplemental Equity grants to NEOs                          |     | ■Eliminated all NEO Supplemental Equity grants effective 2026                                                                                                                                                                                                                        |     | ■Responds directly to feedback                                                                                                                                                                                                               
 ■Aligns executive compensation program with peers                                                                                                                                                                                            |

#### Executive Compensation Program Updates
Since the closing of the WarnerMedia Transaction in 2022, the Committee has been focused on ensuring that the evolution of our compensation program is aligned with the Company’s strategic goals, and has worked to reengineer compensation arrangements and programs that were put in place at or prior to the time of the closing of the WarnerMedia Transaction in 2022.

Since the 2024 “Say on Pay” vote, WBD and the Committee have:

■ engaged in extensive stockholder outreach to elicit feedback (as outlined above),

■ appointed new leadership within our People & Culture function, including a new leader for our total rewards team which develops and oversees executive compensation strategy from the management perspective,

#### 2025 PROXY STATEMENT53
| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

■ conducted a comprehensive review of practices at peer companies led by the Committee's independent compensation consultant, and

■ continued the transformation of