From TheWrap · Lucas Manfredi · · 1m 20s
Skydance Executives Get Pay Bumps Post-Merger
Skydance executives receive extended contracts with salary and equity boosts after Paramount-Warner Bros. Discovery merger.
In brief
Skydance executives receive extended contracts with salary and equity boosts after Paramount-Warner Bros. Discovery merger. Skydance's top executives secured contract extensions with increased base salaries, bonuses, and equity awards following the Paramount-Warner Bros. Discovery merger. Originally reported by…
Skydance Extends Executive Contracts
Skydance has extended employment contracts for CEO David Ellison, President Andy Gordon, Chief Legal Officer Makan Delrahim, and Chief Financial Officer Dennis Cinelli.
Executives Receive Extended Service Dates
Ellison and Gordon will serve through at least August 7, 2031, Delrahim through October 6, 2031, and Cinelli through January 15, 2032, per SEC filing.
Base Salaries and Bonus Increases
Ellison's base salary and target annual bonus increased to $5 million each, with Gordon and Delrahim's salaries raised to $4 million and Cinelli's to $3.4 million.
Restricted Stock Awards
Ellison will receive 104,167 shares of Class B common stock, while Gordon gets 29,167, Delrahim 91,667, and Cinelli 6,042 shares.
Equity Awards for 2027
Starting in calendar year 2027, executives will receive annual equity awards with aggregate grant date values of $5 million, $1.4 million, $4.4 million, and $1.25 million.
2031 Equity Award Increases
By 2031, Ellison's equity award will reach $20 million, Gordon and Delrahim's $13.4 million, and Cinelli's $12.5 million.
What to remember
Skydance's top executives secured contract extensions with increased base salaries, bonuses, and equity awards following the Paramount-Warner Bros. Discovery merger.
