In a Form 8-K filing with the United States Securities and Exchange Commission it was revealed that the new WWE Chief Financial Officer and Chief Administrative Officer will be receiving a salary of $850,000 per year.
Frank A. Riddick III officially took over the role yesterday from outgoing CFO Kristina Salen. Riddick will also receive a one-time $1 million as a cash sign-on bonus payment, a bonus he will have to repay in full if he decides to leave his position within three years. As part of his package, Riddick will also get an annual performance cash bonus and a target incentive award equal to 100% of his base salary.
In addition, Riddick received $5 million in WWE stocks which will vest in equal installments over four years.
Riddick resigned from the WWE’s Board of Directors as well, a step he had to take to assume the role of CFO.