WWE exec and pro wrestler Paul “Triple H” Levesque has officially taken the title of chief content officer, and he’s also received a hike in compensation along with three other top company executives. In addition, the company said it promoted chief financial officer Frank Riddikk to the position...
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Ya'll can argue, Paul and co having fun out here.
Because of the changes in the responsibilities of Levesque, Ms. McMahon, Khan and Riddikk, the compensation and human capital committee of WWE’s board “determined on August 31, 2022, that it is appropriate to provide certain enhancements to [their] compensation,” per the filing.
Ms. McMahon’s annual base salary increased from $730,000 to $1.35 million, and she will continue to receive payments including the $750,000 guaranteed minimum under her booking agreement. Levesque’s annual base salary increased from $730,000 to $900,000, and he also will continue to receive payments including $1.0 million guaranteed minimum under his booking agreement. Khan’s salary increased from $1.2 million to $1.35 million per year and Riddikk’s increased from $850,000 to $950,000.
WWE disclosed new performance-based annual bonus targets for the execs, as a percentage of base salary: for Ms. McMahon and Khan, that’s 160%; for Riddikk, it’s 125%; and for Levesque, it’s 100%. They will also receive annual stock grants beginning in 2023 with the following target values: Ms. McMahon and Khan, $3.575 million; Riddikk, $2.4 million; and Levesque, $1.6 million.
In addition, Ms. McMahon will receive a one-time special stock grant of $10 million and Levesque will receive $8 million in a one-time stock grant around Oct. 3, 2022, with a three-year vesting period contingent on certain performance metrics. WWE also added new severance-payment terms to the four executives’ contracts in the event of a change in control of the company, according to Friday’s filing.