Top WWE Executives Are Receiving New Performance Bonuses

The past financial year has been an up-and-down one for WWE. The launch of the WWE Network was initially met with praise, but immediately skepticism followed after subscriptions numbers were substantially down from estimates.

WWE later announced it had surpassed 1 million network subscribers, its initial launch estimate, to which stocks rebounded. The company has expanded its property globally into Canada, the United Kingdom and other avenues as well.

In response to the recent success, WWE is taking action. PWInsider noted via a press release top WWE executives are receiving new performance bonuses for their work the past year. The release reads as followed:

“Effective March 12, 2015, the Company entered into a Performance Stock, Retention and Non-Competition Agreement (the “Agreements”) with each of Michelle D. Wilson, Chief Revenue & Marketing Officer, George A. Barrios, Chief Strategy & Financial Officer, and Kevin Dunn, Executive Producer & Chief, Global Television Production. The development and launch of WWE Network and the renegotiation of principal television agreements in several key markets around the world have brought about a significant transformation at the Company.

While more work is required, important strides have been made. The Agreements were approved in recognition of these Executive’s efforts, as well as the need to continue such efforts, which will require a significant commitment by the executives over and above their regular management duties.

The Agreements provide for special grants of 174,095 (at target) performance share units (PSUs) under the Company’s Amended and Restated 2007 Omnibus Incentive Plan (the “Plan”). The target number of PSUs was calculated based on $2.5 million of value at the closing price of $14.36 per share on the date of approval by the Compensation Committee, February 12, 2015.”

Whether the bonuses will be affected based on falling (or rising) stock is unknown at this time.

Editor’s Note

I’m sure this will make A LOT of people happy…

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