Former WWE Chairman Vince McMahon’s retirement took everyone by surprise. The wrestling veteran left a place that got filled by his daughter Stephanie McMahon. She now works as the Chairwoman of the WWE and is the Co-CEO alongside Nick Khan. Nick Khan served as the President of the company before this lateral movement.
The change left the President’s seat vacant. It could get filled by someone in the system or some expert in the domain. WWE has finally announced in their recent Securities and Exchange Commission filing that their Chief Financial Officer Frank A. Riddick is their new President with his previous responsibilities as the CFO.
The SEC filing also confirmed that the salaries of these executives have grown at an exponential rate. Riddick’s annual target bonus opportunity has grown at 125%, and he is entitled to an annual equity grant of $2.4 million. According to this filing, Stephanie McMahon and his husband’s salary isn’t the only one that has seen a rise.
Stephanie’s annual salary rose from $730,000 to $1.35 million. She also gets $750,000 as per her booking agreement payment and has an on-air talent deal. Triple H‘s annual salary increased to $900,000 from $730,000, along with a guaranteed $1.0 million in payments as per his on-air talent deal.
Nick Khan also saw a rise, with his annual salary increasing to $1.35 million from $1.2 million. Riddick’s annual salary also increased from $850,000 to $950,000.
All the executives mentioned in the article will receive sizable equity, which can fluctuate based on performance metrics and vesting periods. Khan and McMahon will receive $3.575 million in grants, while Riddick and Triple H will receive $.2.4 million and $1.6 million, respectively.
The SEC filing confirms that the company is making profits, and that’s a good sign. The dust from the Vince McMahon bombshell has settled, and we need to see how things go from here. Will it see a rise in the WWE stock, and will superstars return to the WWE?
What do you think? Chime in.
