According to a new SEC Filing (Securities and Exchange Commission), found on the WWE Corporate Website, new WWE Chief Financial Officer Frank A. Riddick will receive a base salary of $850,000 with a signing bonus of $1 million.
WWE announced Friday that Kristina Salen is gone as CFO, just hours after she the WWE Q3 2021 earnings call. Salen joined WWE in 2020, following the departure of Michelle Wilson and George Barrios.
The SEC filing also indicates that Riddick is receiving an annual base salary of $850,000, plus the one-time $1 million cash sign-on bonus.
The filing also reveals Riddick is relocating from his current home in South Carolina to New York or Connecticut as he is required to work directly at WWE HQ in Stamford, CT.
The employment agreement reveals that Riddick will receive relocation benefits, including 12 months of temporary housing and rental of a vehicle, reimbursement of costs related to shipping household goods from South Carolina to either New York or Connecticut.
Riddick will also be eligible to receive an annual discretionary performance cash bonus award, equity awards, and annual target incentive award equal to 100% of his base salary. Riddick will also receive a sign-on inducement grant of stock units valued at $5 million. He is also eligible to participate in future equity award programs, additional compensation and benefits plans, and any programs available to other WWE executives.
The employment agreement also includes 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, pay or reimbursement of travel expenses while traveling between South Carolina and New York or Connecticut, and business class air travel expenses.
It was noted in the SEC filing if Riddick leaves without good reason, or is terminated within the first 36 months, he will have to reimburse part of his bonus.