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Stock impact report

Warner Music's new CFO gets $1M signing bonus [Yahoo! Finance]

Warner Music Group Corp. - Class A (WMG) 
Company Research Source: Yahoo! Finance
New York-based Warner Music Group said Armin Zerza, who most recently served as CFO of Activision Blizzard , where he played a “pivotal role” in the video game company's 2023 acquisition by Microsoft , will be the music company's new CFO, according to a Monday company release. Zerza will succeed EVP and CFO Bryan Castellani, who will be stepping down after less than two years in the finance chief seat, with both changes effective May 5. Castellani, who replaced long-time and retiring CFO Eric Levin, joined Warner after serving more than two decades at The Walt Disney Company, including as CFO for Disney Entertainment & ESPN. Based on the terms of Zerza's employment agreement for four years ending May 12, 2029, Zerza's compensation will include a $1.2 million base salary, a target annual bonus of $1.8 million, and an annual grant of restricted stock units with a pre-tax target value of $6 million, according to a securities filing. He will also receive a one-time signing bonus paym Show less Read more
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