Trending Now - Shareholder Advisory Group Opposes Zaslav’s Massive Payout
WHO:
Variety - Jeff Shell, former president of Paramount Skydance
Variety - David Zaslav, CEO of Warner Bros. Discovery (WBD)
Deadline - Institutional Shareholder Services (ISS), a leading proxy advisory firm
WHAT:
Variety - Jeff Shell is set to receive at least $5 million in severance payments plus several million dollars in stock following his resignation on April 8th, 2026.
Variety - Shell's severance includes $3.5 million in cash for his annual base salary and a $1.5 million target annual bonus, payable over twelve months.
Variety - Shell had a one-time restricted stock grant valued at $75 million scheduled to vest over five years as part of the company’s long-term incentive program.
Variety - ISS described Zaslav's payout as a "windfall" and stated it is unwarranted due to "problematic" tax reimbursements and accelerated stock vesting.
Variety - ISS advised shareholders to vote against Zaslav’s "golden parachute" payout package exceeding $550 million.
Deadline - ISS criticized Zaslav’s potential payout of $886 million related to the merger with Paramount Skydance, labeling it "extraordinary, not in a good way."
WHERE:
Variety - The context involves Warner Bros. Discovery and its merger with Paramount Skydance.
WHEN:
Variety - Shell ceased to serve as an employee of Paramount Skydance and as a member of the Board of Directors effective April 8th, 2026.
Deadline - WBD stockholders are scheduled to vote on April 23rd, 2026, regarding both the merger and Zaslav's payout.
Deadline - WBD stockholders are scheduled to vote on April 23rd, 2026, regarding the merger and Zaslav's payout.
WHY:
Variety - Shell's departure was to "focus" on a lawsuit filed against him by professional gambler R.J. Cipriani, who claims Shell owes him $150 million for crisis PR services.
Deadline - ISS supports the merger between WBD and Paramount but opposes the associated payout to Zaslav, calling it "extraordinary, not in a good way."
Variety - ISS believes Zaslav's payout is unwarranted due to "problematic" tax reimbursements and accelerated stock vesting.
HOW:
Variety - Paramount entered into a separation agreement with Shell, which includes a release of claims in favor of Paramount Skydance and its affiliates.
Drudge Report - ISS recommended that shareholders vote against Zaslav's payout while supporting the merger with Paramount Skydance.
Deadline - ISS supports the merger between WBD and Paramount but opposes the associated payout to Zaslav.
(UPDATED April 10, 2026 05:41 UTC)
Jeff Shell has resigned from his position as president of Paramount Skydance, effective on Wednesday, and is set to receive at least $5 million in severance payments along with several million dollars in stock. His severance package includes $3.5 million in cash for his annual salary and a $1.5 million target bonus, payable over the next twelve months, while he also had a one-time restricted stock grant valued at $75 million scheduled to vest over five years. Shell's departure comes as he focuses on a lawsuit filed against him by professional gambler R.J. Cipriani, who claims Shell owes him $150 million for crisis PR services.
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(UPDATED April 9, 2026 21:13 UTC)
The Institutional Shareholder Services, or ISS, has described David Zaslav's payout as a "windfall" that is unwarranted due to "problematic" tax reimbursements and accelerated stock vesting. Stockholders of Warner Bros. Discovery are set to vote April 23rd, regarding both the merger with Paramount and Zaslav's controversial payout, which ISS opposes, labeling it "extraordinary, not in a good way." While ISS supports the merger with Paramount Skydance, they have recommended that shareholders vote against Zaslav's payout.
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(UPDATED April 9, 2026 19:24 UTC)
Institutional Shareholder Services has advised shareholders to vote against David Zaslav's "golden parachute" payout package, which exceeds $550 million, as they criticize his potential payout of $886 million related to the merger with Paramount Skydance. The advisory firm labels this payout as "extraordinary, not in a good way," citing concerns over "problematic" tax reimbursements and accelerated stock vesting. Shareholders of Warner Bros. Discovery are set to vote April 23rd, regarding both the merger and Zaslav's compensation package.