Stephanie McMahon, Nick Khan, and Paul Levesque have been given raises in their compensation by WWE’s board of directors, according to a new filing from the company, related to changes to executive titles following the exit of former CEO Vince McMahon.
Levesque has a new title, Chief Content Officer. A press release in July referred to him as Executive Vice President, Talent Relations. He’s since taken over creative duties that were formerly held by Vince McMahon.
Frank Riddick has been promoted to President and will remain Chief Financial Officer.
Before being named co-CEO in July, Khan’s title was formerly President and Chief Revenue Officer. Stephanie’s former title was Chief Brand Officer before she was named co-CEO at the same time.
Stephanie’s annual base salary has been raised from $730,000 to $1.35 million.
Nick Khan’s annual base salary has been increased from $1.2 million to $1.35 million.
Riddick’s annual base salary has been raised from $850,000 to $950,000.
Levesque’s annual base salary increases from $730,000 to $900,000.
Stephanie McMahon and Paul Levesque separately also receive guarantees of $750,000 and $1.0 million, respectively, in compensation for their “booking agreement” that retains them as on-air talents.
Beginning in 2023, the four executives will receive equity grants (in the form of WWE shares), in the following values:
Stephanie McMahon: $3.575 million
Nick Khan: $3.575 million
Frank Riddick: $2.4 million
Paul Levesque: $1.6 million
Stephanie will also receive a one-time “special equity grant” of additional WWE shares on or about October 3, with a value of $10 million. The shares will vest on September 30, 2025.
Khan and Riddick already have certain equity grants disclosed as part of their employment agreements.
Paul Levesque will also get a one-time special equity grant on October 3, valued at $8 million.
The company is also establishing protections that incentivize the executives to stay with WWE in the event of a “change in control”, including in the case of a sale of WWE to another entity. But the executives will also be given the opportunity to terminate their agreements under certain conditions including if their base salary is reduced or if there is a change in their title or duties.
The full related filing can be read here.
Brandon Thurston
brandon@wrestlenomics.com