HomeWWEMcMahon Family WWE Employment Agreements, Total Compensation Revealed – Wrestling Inc.
McMahon Family WWE Employment Agreements, Total Compensation Revealed – Wrestling Inc.
April 14, 2021
As famous, WWE filed a proxy assertion on Tuesday that exposed base salaries for WWE Chairman & CEO Vince McMahon, President & Chief Income Officer Nick Khan, Govt Vice President of International Expertise Technique & Improvement Paul “Triple H” Levesque, Chief Model Officer Stephanie McMahon, and Chief Monetary Officer Kristina Salen.
The SEC submitting additionally included employment and reserving settlement particulars for Khan, Vince, Triple H, Stephanie, and Shane McMahon.
Triple H is beneath a reserving settlement that runs till March 30, 2022. After that it’ll prolong for successive one 12 months durations except both celebration provides discover of non-extension. Beneath the settlement, Triple H is entitled to a minimal assured annual fee of $1 million, which WWE is entitled to recoup from all funds beneath the settlement, together with pay for performing in stay and TV occasions, and royalties for merchandise bought with Triple H’s title and/or likeness.
Stephanie’s reserving settlement runs till October 6, 2021 and in addition extends for successive one 12 months durations after that, except both celebration terminates the settlement. Stephanie is entitled to a minimal assured annual fee of $750,000, which WWE is entitled to recoup from all funds beneath the settlement, together with pay for performing in stay occasions and TV occasions, and royalties for merchandise bought with Stephanie’s title and/or likeness.
The submitting additionally reveals that Shane was retained as a performer in 2020, and acquired minimal assured efficiency charges and royalties of roughly $820,369.
The submitting detailed the Khan settlement additionally, which runs for 5 years. Khan receives an annual base wage of $1.2 million, and is eligible for the administration incentive plan. He additionally acquired a sign-on bonus of $5 million, which is varied phrases. Khan’s contract particulars had been first reported in August 2020 shortly after he signed with the corporate.
Vince’s amended and restated employment settlement with WWE presently runs by means of December 31, 2021, however robotically prolong for successive one 12 months durations except both celebration provides discover of termination. Beneath the settlement, Vince is entitled to wage, presently within the quantity of $1.4 million topic to extend within the discretion of the Compensation & Human Capital Committee. Vince can also be entitled to take part in WWE’s incentive bonus plan with an annual goal bonus of 100% wage. He additionally receives efficiency inventory items as part of WWE’s regular grant to its staff. The settlement consists of extra phrases, reminiscent of termination stipulations, but in addition features a non-compete clause that might stop Vince from working with any of WWE’s rivals throughout employment and for one 12 months after termination, as if that might ever be a problem. The settlement did permit Vince to take part within the possession and operations of the XFL soccer league, which has since been bought.
Vince’s settlement additionally permits members of his quick household to make use of the WWE jet for private journey when it’s not getting used for firm enterprise functions. Private use of the jet is paid for by Vince, in order that no incremental price is incurred by WWE.
The submitting consists of extra data on earnings, previous the bottom salaries that we reported on Tuesday.
Vince earned a complete of $3,905,792 in 2020. This consists of the $1,394,614 base wage, $1,636,594 in inventory awards, $854,000 in incentives, and $20,583 in different compensations. This complete is up from the $3,503,703 in 2019, and $5,658,238 in 2018.
The SEC requires a CEO-employee pay ratio disclosure. Vince’s complete compensation of $3,905,792 was a 38-to-1 ratio of the entire compensation for the median WWE worker, which is $102,577.
Triple H earned a complete of $2,318,280 in 2020. This consists of the $724,115 base wage, $222,650 in incentives, $464,778 in inventory awards, and $906,737 in different compensation from merchandise and his performer’s contract. This complete is down from the $3,328,092 he earned in 2019, and down from the $5,031,459 he earned in 2018.
Stephanie earned a complete of $2,187,266 in 2020. This consists of her $724,115 base wage, $222,650 in incentives, $464,778 in inventory awards, and $775,723 in different compensation from merchandise and her performer’s contract. That is up from the $2,027,248 she earned in 2019.
Khan earned a complete of $12,964,565 in 2020. This consists of the $498,462 base wage, $6,799,138 in inventory awards, $471,823 in incentives, and $5,195,142 in different compensation.
Salen earned a complete of $977,920 in 2020. This consists of $365,000 in base wage, $500,023 in inventory awards, $108,892 in incentives, and $4,005 in different compensation.
Former Interim Chief Monetary Officer Frank A Riddick, III, who briefly held the place from February till August 2020, however stays on the Board of Administrators, made $1,009,719 in 2020. This consists of his $782,667 base wage, $53,842 in inventory awards, and $173,210 in different compensation.
Concerning the WWE Board of Administrators, new members embody former ESPN Govt Vice President Connor Schell and Steve Koonin, CEO of the State Farm Area in Atlanta and the NBA’s Atlanta Hawks. The submitting additionally consists of 2020 compensation for the Board of Administrators.
Stuart U. Goldfarb was paid a complete of $224,516 in 2020. That features $119,222 of feed earned or paid in money, plus $105,295 in inventory awards.
Patricia A. Gottesman, who left the Board on April 16 of final 12 months, was paid a complete of $60,210. That features $32,827 in charges and $27,383 in inventory awards.
Erika Nardini, who joined the Board on October 1, was paid $51,955. That features $22,500 in charges, and $29,455 in inventory awards.
Laureen Ong was paid $208,884 in 2020. That features $103,590 in charges earned or paid in money, plus $105,295 in inventory awards.
Steve Pamon, who joined the Board on September 1, was paid $67,916 in 2020. That features $29,841 in charges earned or paid in money, and $38,075 in inventory.
Robyn W. Peterson was paid $198,884 in 2020. That features $93,590 in Board charges, and $105,294 in inventory awards.
Riddick was paid $120,145 in Board compensation for 2020. That features $66,303 in charges, and $53,842 in inventory awards.
Man Jit Singh was paid $206,384 in Board compensation final 12 months. That features $101,090 in charges, and $105,294 in inventory.
Jeffrey R. Pace was paid $236,384 in 2020 Board compensation. This consists of $131,090 in charges, and $105,294 in inventory awards.
Alan M. Wexler was paid $201,384 in 2020 Board compensation. This consists of $96,090 in charges earned or paid in money, plus $105,294 in inventory awards.
The submitting additionally notes that because the starting of early 2020, WWE has paid Khan’s former employer, Inventive Artists Company, LLC, and/or its associates, an combination of $5.8 million for commissions on sure licenses and administration recruitment charges.
It was additionally revealed that Vince owns 92.3% of WWE’s Class B shares of inventory.