Warner Bros. Discovery Shareholders Slam CEO David Zaslav’s Compensation In Say-On-Pay Vote
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deadline.comStockholders have expressed serious displeasure with 2022 executive compensation at Warner Bros. Discovery led by CEO David Zaslav, according to the result of a vote at the annual meeting Monday that was filed with the SEC today.
The so called say-on-pay vote saw nearly half of all votes cast coming out against last year’s comp, which was ratified with just over 50% approval.
The votes are advisory only, meaning they’re non-binding, but they do have a impact. Most public companies get over 90% approval and anything under 70% is considered pretty dismal.
In the case of a high percentage of votes against, management will often engage with shareholders and try to tweak things for the following year – in this case 2023.
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