Skydance Extends Employment Contracts With Pay Bumps For CEO, Top Execs
Deadline • • entertainment
Key Points:
- Skydance has extended employment agreements for CEO David Ellison, President Andrew Brandon-Gordon, CFO Dennis Cinelli, and Chief Legal Officer Makan Delrahim, with contracts running through 2031-2032 and increased base salaries and bonuses.
- Starting in 2027, these executives will be eligible for substantial annual equity awards, increasing significantly by 2031, alongside restricted stock units granted immediately.
- Ellison, Brandon-Gordon, and Delrahim will receive large cash awards and RSUs as part of merger-related bonuses, paid in lump sums and vesting over five years following the merger close.
- Warner Bros Discovery awarded transaction bonuses to several outgoing executives, including CFO Gunnar Widenfels and Chief Revenue Officer Bruce Campbell, as part of merger-related incentives, with payments due within 60 days post-close.
- CEO David Zaslav, departing as WBD dissolves, will receive a minimum $550 million payout including cash severance, equity, perquisites, and tax reimbursements, marking one of the largest executive compensations in entertainment industry history.
