Ynon Kreiz, who runs as Co-CEO of Paramount alongside David Ellison, is getting a pay package worth more than $46.5 million for his first year at the company. The deal was disclosed in an SEC filing Thursday, and it dwarfs the compensation he received while running Mattel.
Kreiz, 61, signed an initial five-year employment contract with Paramount. He starts Oct. 5, one day before Paramount closes its $111 billion merger with Warner Bros. Discovery. The package includes a one-time signing award of restricted stock units valued at $31.5 million.
The Compensation Breakdown
As CEO of Mattel, Kreiz received a total compensation package of $15.1 million in 2025, including a $1.6 million salary. At Paramount-WBD, his annual base salary jumps to $5 million as of the closing of the merger.
The package also includes an annual bonus targeted at $4.9 million. On top of the $31.5 million signing award of RSUs, Kreiz gets 1,250,000 shares of the company’s Class B Common Stock, which the filing calls the “pre-closing award.” Within 15 days after the Warner Bros. closing, he will be granted 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.
On the first anniversary of his employment, Kreiz will be granted an annual equity award of $20.1 million, according to the filing.
Vesting Rules
Most of Kreiz’s stock awards vest in equal quarterly installments over a three-year period, subject to his continued employment with the company through the applicable vesting date. The filing does not specify how the proration would work in practice.
The Merger Closing Date
The merger closes Oct. 5, the day Kreiz’s tenure begins. The RSU grants are timed to the closing itself, meaning some of his compensation is effectively tied to the completion of the deal.
That is a common structure in mergers, but it still reads as a large reward for a single day’s work.
Comparing Mattel and Paramount-WBD
Kreiz is moving from a role at Mattel to a co-CEO position at a merged studio, and the compensation reflects that jump. Here is how the two packages break down:
- Mattel: $15.1 million total compensation in 2025, including a $1.6 million salary
- Paramount-WBD: More than $46.5 million in first-year compensation, including a $31.5 million RSU signing award
What This Means for Kreiz
Kreiz is taking on a significant role at a merged company that will combine two of Hollywood’s biggest studios. The pay reflects that responsibility.
The package is structured to deliver value over time, with the bulk of the equity coming in installments. But the upfront RSU award is notable, especially compared to his previous role.
The Bottom Line
Kreiz’s move to Paramount-WBD comes with a pay package that far exceeds what he earned at Mattel. The $31.5 million signing award is the headline, but the full package — including base salary, bonus, and equity — totals more than $46.5 million for his first year.
The merger closes Oct. 5, and Kreiz starts the next day. The deal gives him a financial stake in the combined company, though the upfront RSU award raises questions about timing.
The numbers speak for themselves.
Source material: “Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million,” Variety.
Get the Notebook.
The day's best stories and every fresh verdict, in plain English, in your inbox by seven. One email a day, no more.