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Institutional Shareholder Services said support for the “extraordinary golden parachute’ proposal wasn’t warranted.
ISS criticized Warner Bros. CEO David Zaslav's $886.8 million golden parachute as excessive and unwarranted.
KEY POINTS
- Zaslav's payout includes a rare $335 million excise tax gross-up, not given to other executives.
- Most of Zaslav’s equity will vest automatically upon merger, unlike other executives who require job loss.
- If the merger closes after 2027, Zaslav would not receive the excise tax gross-up payment.
COMPANIES
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