New WWE CFO Will Receive $1 Million Signing Bonus

For the past few months, WWE has been releasing quite a few Superstars from all brands. This also included several members of staff including backstage personnel and others. Since then, fans have been worried if more talents will be fired by the company once again.

As reported earlier, WWE’s Chief Financial Officer Kristina Salen stepped down from her role. She did so just one day after she was part of the company’s quarterly earnings call. It was also said that she was not well-liked backstage in WWE.

In her place, Frank A. Riddick III was named Chief Financial Officer & Chief Administrative Officer. Riddick has served as a member of the WWE Board of Directors for more than 13 years and previously held the role of interim CFO in 2020.

As revealed by new WWE SEC filing, Riddick will be earning an annual base salary of $850,000 and that also includes the one-time $1 million cash sign-on bonus. It was also stated that Riddick is relocating from his current home in South Carolina to New York or Connecticut as he is required to work out of WWE HQ in Stamford, CT.

Riddick will also be eligible to receive an annual discretionary performance cash bonus award, equity awards, and his annual target incentive award will be equal to 100% of his base salary, which is the norm with WWE’s Incentive Plan.

In addition to that, he will also get a sign-on inducement grant of stock units valued at $5 million. The restricted stock units will vest in equal instalments over four years beginning on June 30 of next year.

The agreement includes additional standard benefits such as medical, dental, life and disability, enrollment in the company 401k program, 4 weeks of paid vacation and 3 weeks of paid personal days, the pay or reimbursement of travel expenses while travelling between South Carolina and New York or Connecticut, business class air travel expenses, and more.

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