David Zaslav Cashed Out More Than $600 Million in Warner Bros. Stock in Connection With Sale to Paramount

Former Warner Bros. Discovery CEO David Zaslav is now more than $600 million richer, now that Paramount’s $111 billion takeover is complete.

The executive on Thursday filed his Form 4 with the Securities and Exchange Commission, disclosing precisely how many shares and options in the company were cashed out in the deal, which saw Paramount pay $31 plus a small ticking fee for every share in WBD when it closed on Tuesday, Oct. 6.

The filing showed that Zaslav sold shares worth more than $224 million in WBD on conjunction with the acquisition, while options that were in the money netted him an additional $381 million or so.

The payout makes up the lion’s share of Zaslav’s severance package, though his contract also provided other benefits, including an unusual tax reimbursement perk . The final terms of his severance were not disclosed, though it will also include a cash payment, health benefits and other elements.

Zaslav, to be fair, is not the only person associated with WBD to get a windfall. Other top executives received payouts that topped nine figures, SEC filings revealed after the Skydance deal closed. Zaslav also made it a personal priority to increase the equity held in the company by employees. During his time running WBD the number of employees who held equity more than doubled, suggesting that the deal ultimately flowed to staff beyond the C-suite.

WBD, of course, is no more, with some Zaslav’s top deputies like Casey Bloys, JB Perrette and Channing Dungey all joining the new company, Skydance, and others like Gunnar Weidenfels Mike De Luca and Pamela Abdy exiting alongside Zaslav.