WBD Shareholders Nix David Zaslav's 2024 Pay Package In Non-Binding Vote

Core Points - Shareholders at Warner Bros. Discovery rejected the executive compensation plan for 2024, particularly highlighting CEO David Zaslav's $51.9 million package [1][3] - The non-binding advisory vote saw 59% of shareholders voting against the pay plans, with a general threshold of 70% support considered notable [3] - The company's stock has struggled since the merger three years ago, leading to a downgrade to junk status by S&P due to weak credit metrics [4] Compensation and Governance - The vote, known as say-on-pay, is a requirement for publicly traded companies, and while non-binding, boards are expected to consider the results seriously [2] - The compensation committee adjusted the metrics they set to increase Zaslav's pay, raising concerns among shareholders [4] - Institutional Shareholder Services recommended voting against WBD's executive pay, citing limited responsiveness to shareholder concerns after consecutive years of low support [5]