Paramount to Pay Ynon Kreiz Over $46.5 Million in First Year

Ynon Kreiz will earn more than $46.5 million in his first year at the merged Paramount-Warner Bros. Discovery, according to an SEC filing the company disclosed Thursday. The figure more than triples his compensation as CEO of Mattel, where he received $15.1 million in total pay in 2025, including a $1.6 million salary.

Kreiz, 61, signed an initial five-year employment contract with Paramount and starts Oct. 5 — one day before Paramount is set to close its $111 billion merger with Warner Bros. Kreiz will serve as co-CEO alongside David Ellison at the combined company, whose official name has not been revealed.

The first-year package includes a one-time signing award of restricted stock units valued at $31.5 million. Kreiz will also receive an annual base salary of $5 million, effective as of the closing of the merger, and he is eligible for an annual bonus targeted at $4.9 million.

The equity component extends beyond the signing award. Kreiz will receive 1.25 million shares of the company's Class B Common Stock under what the filing terms the "pre-closing award." Within 15 days following the Warner Bros. Discovery closing, he will be granted additional RSUs with an aggregate grant-date value of up to $5.1 million, pro-rated based on the portion of the first year of his employment remaining after the merger closes.

A further annual equity award of $20.1 million will be granted on the first anniversary of his employment, according to the filing.

Most of the stock awards carry a vesting schedule. With the exception of the signing award, Kreiz's equity will vest in equal quarterly installments over a three-year period, subject to his continued employment with the company through each applicable vesting date.

The package marks a sharp financial escalation for Kreiz, who built his reputation reviving Mattel's film and entertainment business. The disclosure arrives days before the merger's expected close, giving investors a first detailed look at how Ellison's leadership team will be compensated at the newly combined studio giant.