Bhupen Dange on March 11, 2022
WWE is the largest wrestling promotion in the world, and on top of it sits chairman Vince McMahon who also serves as its chief executive officer. According to Forbes, the Boss is worth over 2 billion dollars, but it begs the question of how much he actually makes in a year. New reports have revealed Vince’s and WWE Chief Revenue Officer Nick Khan’s 2022 salaries.
A new SEC filing made public that McMahon’s salary has been set at an annual rate of $2 million; in contrast, he made $1.4 million in 2021. Whereas Khan will earn $1.2 million, which is the same as his 2021 salary.
Additionally, Khan has a sign-on equity grant, which was previously $9 million, has risen to $7.5 million this year, which makes it a total of $16 million.
The official SEC filing reads as follows.
In connection with its annual review of executive compensation, the Company’s Compensation and Human Capital Committee approved certain changes (with the approval of all independent directors in the case of Mr. McMahon’s compensation), as described below.
The salary of Mr. Vincent McMahon, our Chairman and Chief Executive Officer, was set at an annual rate of $2 million. For calendar 2022 his target management incentive plan bonus was set at 250% of his salary and his grant of performance stock units has a target value of $11 million.
The salary of Mr. Nick Khan, our President and Chief Revenue Officer, was set at an annual rate of $1.2 million. For calendar 2022 his target management incentive plan bonus was set at 158% of his salary and his grant of performance stock units has a target value of $3.575 million. In addition, the second tranche of his sign-on equity grant, to be made in September 2022 as described in our prior filings, has been increased by $7.5 million.
The foregoing management incentive plan bonuses and performance stock units are governed by the terms of our 2016 Omnibus Incentive Plan. All equity grants are calculated using the average closing price of our Class A Common Stock over the thirty trading days preceding the effective date of the grant. Amendments to agreements necessitated by the foregoing compensation changes are being prepared and will be filed at a later date.
Vince McMahon possesses 42% stock of the company and also has 83% of the company’s voting power. Aside from WWE and Alpha Entertainment, Mr. McMahon has several other business ventures that add to his wealth.
March 11, 2022 8:01 pm
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