Company: WBD
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001437107-25-000078
Chunk: 58

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 58
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.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 in relation to the strategic goals for his 2024 Annual PRSU awards. Our 2024 FCF performance exceeded the pre-established target for the 2024 PRSUs, as set forth in the tables below.

| CEO's 2024 Annual PRSUs        |     |        | Threshold |     |        | Target |     |        | Above  
 Target |     |        | Actual      
 Achievement |         |     | Payout |
| Free Cash Flow ($ in millions) |     | $2,625 |           |     | $3,750 |        |     | $4,031 |        |     | $4,626 |             | 200%(1) |     |        |

(1) For the CEO's 2024 Annual PRSUs to vest at target, WBD must achieve 100% of the financial metric and Mr. Zaslav must achieve 100% of his individual strategic goals. Over-delivery of the 2024 financial metric (FCF) as compared to the "Above Target" amount above caused these 2024 Annual PRSUs to vest and payout at 200% of target.

Based on WBD's 2024 FCF performance versus the pre-established target, as noted above, and Mr. Zaslav's individual performance, in February 2025, the Committee certified the vesting of the 2024 Annual PRSUs granted to Mr. Zaslav at 200%, with 70% of the shares distributed at the time of vesting, and the remaining 30% to be distributed in January 2028 subject to Mr. Zaslav’s continued employment and the other terms and conditions of the award. The Committee assessed Mr. Zaslav’s 2024 performance against his strategic goals and determined that he met or exceeded the objectives set forth in the strategic goals established for his 2024 PRSU awards. In making this determination, the Committee acknowledged the accomplishments noted in the table below:

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| Proxy Statement 
 Summary         |     | Election of Directors