New details regarding Kristina Salen’s departure from WWE.
Kristina Salen was WWE’s Chief Financial Officer up until the company's most recent earnings report and subsequent conference call. Salen was on the call and departed WWE the next day following another round of releases.
Now, the company has publicly documented the separation agreement and the terms that Salen agreed to as part of her exit from the company.
As Brandon Thurston of Wrestlenomics shared on Twitter, the company document did that they have agreed to pay Kristina just a continuation of her base salary and health insurance coverage for the next 12 months and she will be paid in the amount of $413,000 for specific forfeited restricted stock units.
WWE disclosed former CFO Kristina Salen and the company have made a separation agreement. She will receive her base pay and health insurance for 12 months. She will be paid $413k for forfeited stock units and is eligible for est performance bonus of $431k.https://t.co/Iu4P2cTRqV pic.twitter.com/NwmJNOi6vq— Brandon Thurston (@BrandonThurston) November 26, 2021
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.
The CFO position was once again taken over by Frank Riddick III, only this time Riddick will be taking over the role on a permanent basis. Learn more here.