LionDen
03-12-2022, 02:19 AM
WWE filed a number of new corporate disclosures over the course of today.
In one, the company noted the following:
"In connection with its annual review of executive compensation, the Company’s Compensation and Human Capital Committee approved certain changes (with the approval of all independent directors in the case of Mr. McMahon’s compensation), as described below.
The salary of Mr. Vincent McMahon, our Chairman and Chief Executive Officer, was set at an annual rate of $2 million. For calendar 2022 his target management incentive plan bonus was set at 250% of his salary and his grant of performance stock units has a target value of $11 million.
The salary of Mr. Nick Khan, our President and Chief Revenue Officer, was set at an annual rate of $1.2 million. For calendar 2022 his target management incentive plan bonus was set at 158% of his salary and his grant of performance stock units has a target value of $3.575 million. In addition, the second tranche of his sign-on equity grant, to be made in September 2022 as described in our prior filings, has been increased by $7.5 million.
The foregoing management incentive plan bonuses and performance stock units are governed by the terms of our 2016 Omnibus Incentive Plan. All equity grants are calculated using the average closing price of our Class A Common Stock over the thirty trading days preceding the effective date of the grant. Amendments to agreements necessitated by the foregoing compensation changes are being prepared and will be filed at a later date."
In one, the company noted the following:
"In connection with its annual review of executive compensation, the Company’s Compensation and Human Capital Committee approved certain changes (with the approval of all independent directors in the case of Mr. McMahon’s compensation), as described below.
The salary of Mr. Vincent McMahon, our Chairman and Chief Executive Officer, was set at an annual rate of $2 million. For calendar 2022 his target management incentive plan bonus was set at 250% of his salary and his grant of performance stock units has a target value of $11 million.
The salary of Mr. Nick Khan, our President and Chief Revenue Officer, was set at an annual rate of $1.2 million. For calendar 2022 his target management incentive plan bonus was set at 158% of his salary and his grant of performance stock units has a target value of $3.575 million. In addition, the second tranche of his sign-on equity grant, to be made in September 2022 as described in our prior filings, has been increased by $7.5 million.
The foregoing management incentive plan bonuses and performance stock units are governed by the terms of our 2016 Omnibus Incentive Plan. All equity grants are calculated using the average closing price of our Class A Common Stock over the thirty trading days preceding the effective date of the grant. Amendments to agreements necessitated by the foregoing compensation changes are being prepared and will be filed at a later date."