Former WWE Chief Financial Officer Kristina Salen left the company on November 5. Now, new information is coming out surrounding her departure from the company.
According to a recent public filing from WWE (via Brandon Thurston), the company and Salen agreed to a separation agreement. As part of the deal, Salen will receive her base pay and health insurance for the next 12 months, and will also be paid $413,000 in forfeited stock units. Salen is also eligible for performance bonuses totaling up to $431,000 as well.
After Salen departed the company, Frank A. Riddick III was promoted to the CFO position. Riddick previously served as the interim CFO in 2020, and he had also been a member of the WWE Board of Directors for over 10 years.
The full filing from WWE, detailing the separation agreement between the company and Salen, can be seen below:
On November 23, 2021, World Wrestling Entertainment, Inc. (the “Company”) entered into a separation agreement with Kristina Salen, formerly the Company’s Chief Financial Officer, in connection with her previously announced departure from the Company (the “Separation Agreement). Under the terms of the Separation Agreement, Ms. Salen will receive a continuation of base salary and health insurance coverage for a period of twelve months. She will be paid cash in the amount of $413,000 for certain forfeited restricted stock units and will be eligible for a payment in respect of her incentive bonus for 2021 to be determined by the Compensation Committee of the Company’s Board of Directors and currently estimated at $431,200, in each case payable on or before March 31, 2022. All payments are subject to applicable employment or tax withholding and deductions. The Separation Agreement contains other standard provisions, including maintaining Ms. Salen’s intellectual property, confidentiality and non-solicitation obligations.
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