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Source: f4wonline.com
A Friday SEC filing revealed that both WWE chairman and CEO Vince McMahon and WWE president and Chief Revenue Officer Nick Khan will be getting more money this year.
In the Form 8-K (a "current report" required by the SEC for announcing major events company shareholders should be made aware of), it said that WWE's Compensation and Human Capital Committee approved the following changes:
McMahon's salary was increased to $2 million per year, up from $1.4 million the year prior. For the calendar year of 2022, McMahon's "target management incentive plan bonus was set at 250% of his salary ($5 million) and his grant of performance stock units has a target value of $11 million."
While Khan's salary remained at $1.2 million, the second portion of his sign-on equity grant was increased by $7.5 million. He initially got a signing bonus of $15 million of value in stock with 40% vesting in this September and the rest vesting in 2025.
Additionally, Khan's "target management incentive plan bonus was set at 158% of his salary ($1.9 million) and his grant of performance stock units has a target value of $3.575 million."
According to WWE's bylaws, "management incentive plan bonuses and performance stock units are governed by the terms of our 2016 Omnibus Incentive Plan."
Additionally, Kevin Dunn was given 181,192 shares of class A stock currently worth around $10 million that will vest in five years.
A Friday SEC filing revealed that both WWE chairman and CEO Vince McMahon and WWE president and Chief Revenue Officer Nick Khan will be getting more money this year.
In the Form 8-K (a "current report" required by the SEC for announcing major events company shareholders should be made aware of), it said that WWE's Compensation and Human Capital Committee approved the following changes:
McMahon's salary was increased to $2 million per year, up from $1.4 million the year prior. For the calendar year of 2022, McMahon's "target management incentive plan bonus was set at 250% of his salary ($5 million) and his grant of performance stock units has a target value of $11 million."
While Khan's salary remained at $1.2 million, the second portion of his sign-on equity grant was increased by $7.5 million. He initially got a signing bonus of $15 million of value in stock with 40% vesting in this September and the rest vesting in 2025.
Additionally, Khan's "target management incentive plan bonus was set at 158% of his salary ($1.9 million) and his grant of performance stock units has a target value of $3.575 million."
According to WWE's bylaws, "management incentive plan bonuses and performance stock units are governed by the terms of our 2016 Omnibus Incentive Plan."
Additionally, Kevin Dunn was given 181,192 shares of class A stock currently worth around $10 million that will vest in five years.