New WWE Job Title For Triple H, Top WWE Executives Get Salary Increases & More

A new WWE SEC filing today revealed several changes to the company.

It has been noted that since Vince McMahon retired from his role as former WWE Chairman and CEO on July 22, these roles have gone to four people – Chairman and Co-CEO Stephanie McMahon, Co-CEO Nick Khan, Chief Financial Officer and Chief Administrative Officer Frank A. Riddick III and Chief Content Officer “Triple H” Paul Levesque.

This is the first time Triple H has been named Chief Content Officer. It was previously announced that he was working as Executive Vice President of Talent Relations and Chief Creative Officer, but now his duties have apparently been combined under the role of Chief Content Officer. Prior to the promotions given earlier this summer, Stephanie worked as chief brand officer, while Khan worked as president and chief revenue officer.

The WWE Corporate website still has Triple H listed as Executive Vice President of Talent Relations as of this writing, but that should be updated soon.

The new SEC filing also reveals that Riddick has been promoted to WWE Chairman effective today, September 2. He notes that he will continue in his role as CFO.

The SEC filing also revealed salary changes as of August 31. It was noted that WWE’s Compensation and Human Capital Committee determined that it was appropriate to make certain improvements to the compensation of Stephanie, Triple H, Riddick and Khan. The following salary changes have been listed:

* Stephanie’s annual base salary increased from $730,000 to $1.35 million. She will continue to receive payments, including but not limited to the guaranteed minimum of $750,000 under her booking contract, which is her on-air talent contract.

* Khan’s annual base salary increased from $1.2 million to $1.35 million

*Riddick’s annual base salary increased from $850,000 to $950,000

* Triple H’s annual base salary increased from $730,000 to $900,000. He will continue to receive payments including, but not limited to, the guaranteed minimum of $1.0 million under his booking contract, which is his on-air talent contract.

Today’s filing also lists the annual awards for each executive, which will begin in 2023. The following awards, subject to performance measures and vesting periods, have been listed:

* Stephanie is to receive $3.575 million

* Khan is to receive $3.575 million

* Riddick will receive $2.4 million

* Triple H will receive $1.6 million

It was also noted that Stephanie would receive a “special one-time performance share unit award” with a target value of $10 million on or around October 3, 2022. Triple H will receive the same type of award worth $8. million on or about October 3 this year.

The filing states: “In addition to the above, Ms. McMahon will receive a special one-time grant of Performance Share Units (‘PSUs’) with a target value on the grant date (valued as described in Section 3 above) of $10 million on or about October 3, 2022. This award will have a three-year performance measurement period ending September 30, 2025, at which time the performance-adjusted PSUs would be 82.5% of Ms. McMahon’s performance metrics will be based on certain media rights agreements and consolidated revenue, and the remainder will be based on the company’s achievement of certain human capital and governance goals that will be determined by the Compensation and Human Capital Committee Similarly, Mr. Levesque will receive a one-time special award of PSU shares with a target grant date value of $8 million on or about October 3, 2022 This allocation will also have a three-year performance measurement period ending September 30, 2025. , at which time the performance-adjusted PSUs would vest. 65.0% of Mr. Levesque’s performance metrics will be based on certain media rights agreements, and the remainder will be based on the achievement of certain milestones related to talent development and creative matters to be determined by the Compensation Committee and human capital.

Khan and Riddick previously received equity grants that were included in their employment contracts when WWE hired them.

WWE has also implemented severance protection for these executives, which is intended to incentivize them to stay with WWE in the event of a “change of control” which includes mergers, another company buying WWE and other cases. You can find details on the “Change of Control Severance Protection” section by reading the full SEC filing at this link.

Stay tuned WrestlingHeadlines.com for more.

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