Discovery CEO Zaslav Hits Big Time; $34 Million Profit on Options
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Discovery Communications (NSDQ: DISCA) CEO David Zaslav, coming off a year where the cable network outperformed most of its peers, reaped a $34 million payday as a result of a stock appreciation rights plan that kicked in earlier this month, according to a filing with the Securities and Exchange Commission.
According to the SEC filing Jan. 20, Zaslav received appreciation rights for about 1.9 million shares of Discovery stock at prices ranging from $14.34 each and $22.91 each on Jan. 15. That stock was automatically sold the same day at prices ranging from $31.69 each to $34.86 each, reaping the CEO a profit of $33.9 million.
Some of those appreciation rights were awarded back in 2007, according to Discovery. The units automatically pay out annually—Zaslav does not take any action to exercise them—and then they replenish at the stock’s trading price on that date. More on Multichannel.
The full filing below:
Discovery Zaslav -
Posted In: Media & Publishing, david zaslav, discovery communications
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