Discovery President and CEO David Zaslav speaks during the Discovery portion of the Television Critics Association (TCA) Summer Press Tour in Beverly Hills, California, U.S., July 25, 2019. REUTERS/ Danny Moloshok

March 14 (Reuters) – Discovery Inc (DISCA.O) CEO David Zaslav’s total salary jumped to around $246.6 million in 2021, according to a filing on Monday, with more than three-quarters coming from options. purchase of shares.

Zaslav’s compensation increased by more than 550% in 2021 and included option awards valued at $202.9 million.

The one-time option grant spans seven years, at strike prices of $35.65 or more, according to a Discovery spokesperson, meaning Zaslav would only receive a payout after fueling a substantial increase in the share price. Discovery’s stock closed Monday at $23.88.

Zaslav negotiated an extension to his employment contract in May, after Discovery announced its $43 billion acquisition of WarnerMedia from AT&T (TN). The executive, who will lead the new Warner Bros Discovery, has agreed to stay on until December 2027.

The deal is on track to close in the second quarter of this year. Last month, it passed the US Department of Justice’s antitrust review, removing another key hurdle to closing the deal.

Reporting by Chavi Mehta in Bengaluru and Dawn Chmielewski in Los Angeles; Editing by Devika Syamnath, Bernard Orr

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