UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

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World Wrestling Entertainment Inc.

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1241 East Main Street

Stamford, Connecticut 06902

Dear WWE Stockholder:MarchApril 7, 20182023

You are cordially invited to attend virtually WWE’s 20182023 Annual Meeting of Stockholders. The meeting will be held on April 19, 2018, at the Company’s Headquarters, 1241 East Main Street, Stamford, Connecticut 06902May 18, 2023, beginning at 10:1:00 a.m.p.m. Eastern Time. Details of the business to be conducted at this year’s Annual Meeting are described in the attached Notice of Annual Meeting of Stockholders and Proxy Statement. This year’s Annual Meeting will again be a virtual meeting of stockholders, conducted via live audio webcast. We have designed the format of the Annual Meeting to ensure that stockholders are afforded the same rights and opportunities to participate as they would at an in-person meeting, using online access and participation. You will not be able to attend the Annual Meeting in person.

As a stockholder, you are being asked to vote on important matters. Whether or not you plan to attend the Annual Meeting of Stockholders, your vote is important. We therefore encourage you to vote. After reading the attached Notice of Annual Meeting of Stockholders and Proxy Statement, please promptly fill out and submit your proxy.We also invite you to utilize the convenience of Internet voting at the website indicated on the enclosed proxy cardcard.. Alternatively, you can vote by telephone or complete, sign, date and promptly return via mail the enclosed proxy card. If you virtually attend the meeting and wish to vote in person,during the meeting, you will have the opportunity to do so, even if you have already voted, and any such in-person vote will supersede all of your prior votes.

On behalf of the WWE Board of Directors, I greatly appreciate your continued support.

Sincerely,


Vincent K. McMahon
Nick Khan
Chairman and Chief Executive Officer

PLEASE NOTE THAT THIS WILL BE A BUSINESS MEETING ONLY AND NOT AN ENTERTAINMENT EVENT. The meeting will be limited to stockholders (or their authorized representatives) having evidence of their stock ownership. If you plan to attend the Annual Meeting in person, you must show proof of your ownership at the registration tables at the door. Registration will begin at 9:00 a.m. and seating will begin at 9:30 a.m. Each stockholder may be asked to present valid government-issued photo identification, such as a driver’s license or passport, to enter the meeting. These procedures may require additional time, so please plan accordingly. Cameras, recording devices and other electronic devices will not be permitted, and cell phones may not be used for these purposes. The Annual Meeting will start promptly at 10:1:00 a.m.p.m. Eastern Time. To avoid disruption, admission may be limited once the meeting begins.


NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

AND PROXY STATEMENT

The Annual Meeting (the “Annual Meeting”) of Stockholders of World Wrestling Entertainment, Inc., a Delaware corporation (“WWE” or the “Company”), will be held on April 19, 2018May 18, 2023 at the Company’s Headquarters, 1241 East Main Street, Stamford, Connecticut 06902 at 10:1:00 a.m.p.m. Eastern Time.Time in a virtual-only format as described below. The purpose of the Annual Meeting, as described in the attached Proxy Statement is as follows:

1.

To elect eleveneight (8) Directors to serve until the Company’s next Annual Meeting and until their successors are elected and qualified;

2.

To ratify the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2018;

2023;

3.

To hold an advisory vote to approve executive compensation; and

4.To hold an advisory vote on the frequency of the advisory vote on executive compensation; and

5.

To transact such other business as may properly come before the Annual Meeting.

The close of business on FebruaryMarch 21, 20182023 is the record date for determining stockholders entitled to notice of and to vote at our Annual Meeting and at any adjournment or postponement of the meeting.

Access to the Audio Webcast of the Annual Meeting. The live audio webcast of the Annual Meeting will begin promptly at 1:00 p.m. Eastern Time. Online access to the audio webcast will open 15 minutes prior to the start of the Annual Meeting to allow time for you to log-in and test your device’s audio system. We encourage you to access the meeting in advance of the designated start time.

Log-in Instructions. To be admitted to the virtual Annual Meeting, you will need to log onto www.virtualshareholdermeeting.com/WWE2023 using the control number found on your proxy card, voting instruction form or notice.

Submitting Questions at the Annual Meeting. An online portal is available to stockholders at www.proxyvote.com where you can view and download our proxy materials and vote your shares. Prior to the date of the Annual Meeting, you may submit questions at www.proxyvote.com. On the day of, and during, the Annual Meeting, you can submit questions on www.virtualshareholdermeeting.com/WWE2023. After the business portion of the 2023 Annual Meeting concludes, we will hold a Q&A session during which we intend to answer questions submitted that are pertinent to the Company and the items brought before the stockholder vote at the Annual Meeting, as time permits and in accordance with the Q&A Rules of Conduct and Procedure that will be available at www.proxyvote.com and www.virtualshareholdermeeting.com/WWE2023.

Technical Assistance. Beginning 15 minutes prior to, and during, the Annual Meeting, we will have support available to assist stockholders with any technical difficulties they may have accessing or hearing the virtual meeting. If you encounter any difficulty accessing, or during, the virtual meeting, please call the support team at the number that will be posted on the virtual meeting platform.

Stockholder List. During the Annual Meeting, a list of our stockholders, maintained under Delaware law, will be available for viewing by stockholders at www.virtualshareholdermeeting.com/WWE2023. If you are a registered stockholder, the control number included on your proxy card will allow you to view this list. In addition, information on how to obtain access to the list of stockholders of record entitled to vote at the 2023 Annual Meeting for any purpose germane to the meeting will be available during the ten days preceding the 2023 Annual Meeting on our website at https://corporate.wwe.com/investors/investor-overview. Stockholders submitting any such request will be asked to include the control number found on their proxy card, voting instruction form or Notice of Internet Availability.

Whether or not you plan to attend the Annual Meeting, in person, your vote is important. We therefore urge you to vote by Internet, phone or mail by following the instructions set forth herein.

By the Order of the Board of Directors,

Blake T. Bilstad
Nick Khan
SVP, General Counsel & SecretaryChief Executive Officer

Stamford, Connecticut
March
April
7, 2018
2023


PROXY STATEMENT

Annual Meeting of Stockholders

Thursday, April 19, 2018
May 18, 2023

The enclosed proxy is solicited on behalf of WWE’s Board of Directors in connection with our Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Thursday, April 19, 2018,May 18, 2023, beginning at 10:1:00 a.m.p.m. Eastern Time in a virtual meeting format only, or any adjournment or postponement of this meeting. The Annual Meeting will be held at the Company’s Headquarters, 1241 East Main Street, Stamford, Connecticut 06902. Pursuant to rules adopted by the Securities and Exchange Commission (“SEC”), the Company has elected to provide electronic access to its proxy materials over the Internet. Accordingly, the Company is sending a Notice of Internet Availability of Proxy Materials (the “Notice”) to the Company’s record and beneficial stockholders. All stockholders will have the ability to access the proxy materials on the website referred to in the Notice or to request a printed set of the proxy materials. Instructions on how to access the proxy materials over the Internet or to request a printed copy may be found in the Notice. In addition, stockholders may request to receive proxy materials electronically by email on an ongoing basis. The Company encourages you to take advantage of the availability of the proxy materials on the Internet in order to help reduce the costs and environmental impact of printing proxy materials. We intend to mail the Notice on or about MarchApril 7, 2018,2023, to each stockholder entitled to vote at our Annual Meeting.

We will pay all costs of this proxy solicitation. Directors or officers, or other WWE employees, may also solicit proxies in person or by mail, telephone or fax.electronic communications.

Only holders of record of our Class A common stock and Class B common stock at the close of business on FebruaryMarch 21, 20182023 (the “record date”), will be entitled to notice of and to vote at our Annual Meeting. At the close of business on the record date, 42,540,28843,347,118 shares of Class A common stock and 34,609,43831,099,011 shares of Class B common stock were outstanding and entitled to vote, with each Class A share entitled to one vote on all matters and each Class B share entitled to ten votes. We sometimes refer to Class A common stock and Class B common stock together as “Common Stock.”

A majority of the collective voting power represented by our Common Stock, present in person or represented by proxy, constitutes a quorum for the transaction of business at the Annual Meeting. Election of nominees to the Board (Proposal 1) isand the advisory vote on the frequency of the advisory vote on executive compensation (Proposal 4) are decided by plurality votes. The affirmative vote of a majority of the shares present and entitled to vote at the meeting is required to approve Proposals 2 and 3. Proposal 3 is anand 4 are advisory votevotes only and as discussed in more detail below, the voting result is not binding on us. Under New York Stock Exchange (“NYSE”) rules, if your broker holds your shares in its name as a nominee, and does not receive voting instructions from you, the broker is permitted to vote your shares only on the ratification of the appointment of the independent registered public accounting firm (Proposal 2). When a broker does not receive voting instructions and either declines to exercise discretionary voting or is barred from doing so under NYSE rules, the missing votes are referred to as “broker non-votes.” Other unvoted shares in returned proxies will be voted in accordance with the Board recommendations set forth in this proxy statement. Both abstentions and broker non-votes in returned proxies will be counted for purposes of determining the presence or absence of a quorum at the meeting. Broker non-votes are not, however, considered present and entitled to vote and will have no effect on the voting results of any of the proposals. An abstention in a returned proxy on either of Proposals 2 or 3 identified above will have the effect of a vote against that proposal. An abstention in a returned proxy will have no effect on the outcome of Proposal 1.1 or 4. The Board of Directors recommends that you vote FOR the election of each of the nominees for Director, FOR the ratification of our independent registered public accounting firm, and FOR the advisory approval of our executive compensation, and FOR an annual advisory vote on executive compensation.


Introductory Note:

On January 5, 2023, Vincent K. McMahon, our controlling stockholder, executed and delivered a written consent taking certain actions by consent without a stockholder meeting in accordance with Delaware law resulting in, among other things, the election of Mr. McMahon, Michelle D. Wilson and George A. Barrios to the Board of Directors and certain amendments to the Company’s bylaws (the “January 5th Amendments”). On January 6, 2023, Ignace Lahoud and Man Jit Singh resigned from the Board of Directors. On January 9, 2023, the Board of Directors elected Mr. McMahon as Executive Chairman of the Board of Directors. On January 10, 2023, Stephanie McMahon resigned from her role as Co-CEO and as a member of the Board of Directors. As a result of Ms. McMahon’s resignation, Nick Khan assumed the role of sole Chief Executive Officer of the Company. Mr. Khan also remains a member of the Board of Directors.

Mr. McMahon subsequently informed the Company of his view that there was substantial alignment among the Board of Directors and management concerning the decision to conduct a review of strategic alternatives amid the Company’s upcoming domestic media rights negotiation cycle. In light of the foregoing, on January 16, 2023, Mr. McMahon, in his capacity as controlling stockholder of the Company, executed and delivered a written consent taking certain actions by consent without a stockholder meeting in accordance with Delaware law to substantially repeal the January 5th Amendments other than the provision relating to exclusive forum for certain shareholder lawsuits.

As previously disclosed, the Company’s management and Board of Directors have been engaged in a review of strategic alternatives to maximize value for all WWE stockholders and other stakeholders. Endeavor Group Holdings, Inc. and the Company announced on April 3, 2023 that they have signed a definitive agreement to form a new, publicly listed company consisting of the WWE and UFC businesses (the “Proposed Transaction”). There can be no assurances given regarding the outcome or timing of the Proposed Transaction.

Voting:

If you vote via any of the following methods, you have the power to revoke your vote before the Annual Meeting or at the Annual Meeting. You may revoke a proxy by mailing us a letter that is received by us no later than Wednesday, April 18, 2018May 17, 2023 that states that the proxy is revoked, by timely executing and delivering, by mail, Internet or telephone, a later-dated proxy or by attending our Annual Meeting and voting in person.voting. While the Company does not plan to disseminate information concerning your vote, proxies given by stockholders of record will not be confidential. The voting instructions of beneficial owners will only be available to the beneficial owner’s nominee and will not be disclosed to us unless required by law or requested by you. If you are a stockholder of record and write comments on your proxy card, your comments will be provided to us.

Vote by Internet:

The Company strongly prefers that you utilize our convenient Internet voting system which you can access and use whether you live in the United States or elsewhere. The website for Internet voting is printed on both the Notice and the proxy card. Internet voting is available 24 hours a day until 11:59 P.M. on April 18, 2018.May 17, 2023. You will be given the opportunity to confirm that your instructions have been properly recorded.While at the site, you will be able to enroll in our electronic delivery program, which will ensure that you will receive future mailings relating to annual meetings as quickly as possible and will help us to save costs. If you vote via the Internet, please do NOT return your proxy card.

 2

Vote by Telephone:

You can also vote your shares by calling the toll-free number printed on your proxy card. Telephone voting is available 24 hours a day until 11:59 P.M. on April 18, 2018.May 17, 2023. The voice prompts allow you to vote your shares and confirm that your instructions have been properly recorded.If you vote by telephone, please do NOT return your proxy card.

Vote by Mail:

If you choose to vote by mail, please mark your proxy, date and sign it, and return it in the postage-paid envelope provided.


 3

PROPOSAL 1—ELECTION OF DIRECTORS

Stockholders will elect eleveneight Directors at our Annual Meeting, each to serve until the next Annual Meeting of Stockholders and until a successor shall have been chosen and qualified. We intend to vote the shares of Common Stock represented by a proxy in favor of the nominees listed below, unless otherwise instructed in the proxy. Each nominee is currently a Director. We believe all nominees will be willing and able to serve on our Board. In the unlikely event that a nominee is unable or declines to serve, we will vote the shares represented by a proxy for the remaining nominees and, if there is one, for an alternate person duly nominated by our Board of Directors.

                        Director
Director/Nominee(1)Age Current Position with CompanyCommitteeSince
Vincent K. McMahon72Chairman of the Board andExecutive1980
Chief Executive Officer(Chair)
George A. Barrios52Co-PresidentExecutive2018
Michelle D. Wilson52Co-PresidentExecutive2018
Stephanie McMahon41Chief Brand OfficerExecutive2015
Paul Levesque48EVP, Talent,Executive2015
Live Events & Creative
Stuart U. Goldfarb(1)63Audit;2011
Governance &
Nominating
Patricia A. Gottesman(1)59Governance2011
& Nominating
(Chair)
Laureen Ong(1)65Compensation2014
Robyn W. Peterson(1)42Governance &2015
Nominating
Frank A. Riddick, III(1)61Compensation2008
(Chair); Audit
Jeffrey R. Speed(1)55Audit (Chair);2008
Compensation
Director/Nominee Age Current Position with Company Committee Director Since
         
Vincent K. McMahon 77 Executive Chairman
of the Board
 Executive
(Chair)
 1980
Nick Khan 48 Chief Executive Officer Executive 2021
Paul Levesque 53 Chief Content Officer Executive 2015
George A. Barrios(1) 58  Audit (Chair) 2023(2)
Steve Koonin(1)(3) 65  Compensation &
Human Capital
(Chair);
Governance & Nominating
 2021
Michelle R. McKenna(1) 57  Audit 2022
Steve Pamon(1) 52  Audit;
Governance
& Nominating
(Chair)
 2020
Michelle D. Wilson(1) 57  

Compensation &
Human Capital;
Governance &
Nominating

 2023(2)
____________________

(1)

Independent Director.

(2)Mr. Barrios and Ms. Wilson held previous positions with the Company as described in their biographies below.
(3)Lead independent director.

Vincent K. McMahon,co-founder of our Company, is Executive Chairman of the Board of Directors and Chief Executive Officer and Chair of the Executive Committee.

George A. BarriosNick Khanhas served as our Co-President since February 2018. Before that, Mr. Barrios was our Chief Strategy & Financial Officer since November 2013, and Chief Financial Officer since March 2008. Before that, he was Vice President and Treasurer of The New York Times Company since January 2007. Mr. Barrios joined The New York Times Company in 2002 as Chief Financial Officer of a subsidiary which published, among other things, The Boston Globe. Prior to that, he was President and Chief Operating Officer of Netsilicon, Inc., a publicly-held software development company, where he helped to stabilize the business prior to its merger. From 1994 to 2000, Mr. Barrios served in several senior capacities for Praxair, Inc., a large supplier of industrial gasses.

Michelle D. Wilsonhas served as our Co-President since February 2018. Before that, Ms. Wilson was our Chief Revenue & Marketing Officer since November 2013, and Chief Marketing Officer since February 2009. From 2001 to 2009, she was Chief Marketing Officer of the United States Tennis Association where she was instrumental in making the US Open the highest attended annual sporting event in the world. Ms. Wilson


developed innovative advertising and promotional campaigns that significantly elevated the image and awareness of tennis in the United States, resulting in record television viewership and ticket sales. She was also pivotal in the implementation of several innovations for the sport, including in-stadium video screens, blue courts, instant replay and the 2004 launch of the US Open Series. From 2000 to 2001, she was Vice President of Marketing for the XFL, our former professional football league. Before that, Ms. Wilson held positions at the National Basketball Association in its domestic and international consumer products groups.

Stephanie McMahonhas served as our Chief BrandExecutive Officer since November 2013. She is responsibleJanuary 2023 and, prior thereto, one of our Co-CEOs from July 2022 and President & Chief Revenue Officer from August 2020 to July 2022. Prior to that, Mr. Khan, a former practicing attorney, transitioned to International Creative Management (ICM) in 2006 where he launched their Sports Media department and represented the biggest names in sports broadcasting. From 2012 until joining the Company, Khan served as the Co-Head of the Television Department for working with WWE’s business unitsCreative Artists Agency LLC (CAA). During his tenure there, Khan continued to support key growth initiativesrepresent the top broadcasters while also representing WWE, the Southeastern Conference, Top Rank Boxing and represents WWE as its global brand ambassador. She is the primary spokesperson for WWE’s CSR initiatives, including Special Olympics, Susan G. Komen and Be a STAR, WWE’s anti-bullying program. In 2014, Ms. McMahon and her husband, others, helping to negotiate billions of dollars in media deals on their behalf.

Paul “Triple H” Levesque established Connor’s Cure, a fund dedicated to fighting Pediatric cancer. She is also a TV personality, appearing regularly on WWE’s flagship programming. She is a member of the 2017 Class of Henry Crown Fellows within the Aspen Global Leadership Network at the Aspen Institute and is also a member of the 2015 Eisenhower Fellowship class. Prior to being named WWE’s first-ever Chief Brand Officer, Ms. McMahon was Executive Vice President, Creative, responsible for overseeing the Digital and Creative Departments, as well as the creative development of all WWE television, pay-per-view programming, print, digital and social media content. She was also the first woman to lead WWE’s Talent Relations, Talent Brand Management and Live Event businesses. Adweek has included Ms. McMahon in their list of the “Most Powerful Women in Sports” for the past two years. Last year, she was named a Stuart Scott ENSPIRE Award Honoree at the ESPN Humanitarian Awards and was named to Sports Business Journal’s 2017 class of “Game Changers: Women in Sports Business”. Ms. McMahon received her B.S. from Boston University in Communications and has been named a Distinguished Alumni by its School of Communications. She is also a member of the Board of Directors for USO Metropolitan WashingtonWWE’s Chief Content Officer since September 2022 and Children’s Hospital of Pittsburgh Foundation. Ms. McMahon is the daughter of Vincent McMahon.

Paul “Triple H” Levesquehas served asprior thereto was our Executive Vice President, Global Talent Live EventsStrategy & Creative since August 2011.Development. In thishis current role, he oversees the Company’s Talent Relations, Talent Development and Live Events departments. Additionally, Mr. Levesque plays an integral role inoversees the Company’s creative process, helping shapeshaping the creative direction and storylines of WWE’s programming.

 4

WWE programming and live events and is head of Talent relations. He is the Executive Producer of NXT. Mr. Levesque is revolutionizing the business with his global recruiting strategy and developmental training processes. In order to create a platform for future success, he established the Company’s state of the artstate-of-the-art training facility, the WWE Performance Center, which pavedin Orlando, Florida. In addition to strength, conditioning, in-ring training and character development, recruits participate in development programs focusing on life skills, continuing education, health and wellness and career planning. Building off this success, Mr. Levesque remains focused on the way fordevelopment and implementation of WWE’s Performance Center/Global Localization strategy. Prior to his current role from 2011 Mr. Levesque oversaw WWE’s Talent Relations and Live Events departments. He also played an integral part in the Company’s creative process, helping to shape the creative direction and storylines of WWE’s third global touring brand, NXT.programming. Mr. Levesque debuted as a WWE Superstar, “Triple H”,H,” in 1995 and was inducted into the WWE Hall of Fame in 2019. He has held the WWE Heavyweight Championship title 14 times. He hastimes, captured every major championship, headlined thousands of WWE events and entertained millions around the world. Mr. Levesque is married to Stephanie McMahon and together in 2014 they established Connor’s Cure.Cure, a fund dedicated to furthering pediatric cancer research. He was inducted into the Boys & Girls Clubs of America Alumni Hall of Fame in 2017 and is a board member for the Concussion Legacy Foundation.

George A. Barrios has served as Founder and Co-Chief Executive Officer of Isos Capital Management (“Isos”), an independent investment firm focused on investment opportunities in the media, entertainment and sports industries, since January 2021. He has served as Co-President of Progress Acquisition Corporation (“Progress”), a media-focused special purpose acquisition company, since August 2022. Mr. LevesqueBarrios previously served as the Founder, Co-Chief Executive Officer and Co-Chairman of Isos Acquisition Corporation from January 2021 until its merger with Bowlero Corp. (NYSE: BOWL) (“Bowlero”), a global leader in bowling entertainment, in December 2021. Mr. Barrios was appointed National Board Chair of the Make-A-Wish Foundation in March 2021. Prior to founding Isos, he served as Co-President and a director at WWE from February 2018 to January 2020. He was our Chief Strategy & Financial Officer from November 2013 to February 2018, and Chief Financial Officer from March 2008 to November 2013. Before that, he was Vice President and Treasurer of The New York Times Company, a diversified media company and leading source of independent journalism, from January 2007 to March 2008. Mr. Barrios joined The New York Times Company in April 2002 as Chief Financial Officer of a subsidiary, which published, among other things, The Boston Globe. Prior to that, from September 2000 to September 2001, he was President and Chief Operating Officer of Netsilicon, Inc., a publicly held software development company, where he helped to stabilize the business prior to its merger with Digi International Inc. in 2001. From 1994 to 2000, Mr. Barrios served in several senior capacities for Praxair, Inc., a large supplier of industrial gasses. Earlier in his career, he held various leadership roles in strategy and operations at HBO, Inc. during his time at leading media and entertainment company Time Warner. Mr. Barrios served on the board of directors of Bowlero from December 2021 until December 2022. Mr. Barrios holds a B.A. degree and an M.B.A. from the University of Connecticut.

Steve Koonin is the son-in-lawChief Executive Officer of Vincent McMahon.the National Basketball Association’s Atlanta Hawks and State Farm Arena, a position he has held since April 2014. He formerly served as the President of Turner Entertainment Networks, which included oversight of Turner Network Television (“TNT”), Turner Broadcasting System (“TBS”), truTV and Turner Classic Movies (“TCM”). Mr. Koonin joined Turner in 2000 and was promoted to President in 2006. Mr. Koonin was responsible for the rebranding of TNT and TBS and for the development of some of the most successful programming in cable television history. He also led the rebrand of Court TV as truTV. Prior to joining Turner, Mr. Koonin spent 14 years with The Coca-Cola Company including serving as head of worldwide marketing and advertising operations. In addition to leading the Atlanta Hawks organization, Mr. Koonin is extremely active in the Atlanta community. He serves as the Chairman of the Georgia Aquarium, on the Executive Committee of the Metro Chamber of Commerce and is a recipient of the Atlanta Sports Council’s lifetime achievement award.

 5

Stuart U. GoldfarbMichelle R. McKenna has served as a senior advisor at Evercore, a NYSE-listed leading global independent investment bank, since December 2022. In April 2022, she founded, and is the CEO of, The Michelle McKenna Collaborative, a consulting firm which advises on matters relating to technology, tech teams and the consumer experience holistically. McKenna spent more than two decades as a senior leader at Disney, Universal Studios and the NFL, working across technology, digital strategy and finance. From 2012 to 2022, McKenna served as Chief Information Officer for the NFL, where she was responsible for the league’s technology strategy and served as the executive sponsor of the Women’s Interactive Group. She serves on the Board of Directors of Ring Central (NYSE: RNG), where she is a member of our Audit Committeethe audit, compensation and our Governancenominating & Nominating Committee. Since January 2014,governance committees. McKenna previously served on the Board of Directors of Insperity (NYSE: NSP) from 2015 to 2018.

Steve Pamon has served as became President of Verzuz since March 2022, overseeing the live-stream music platform which is owned by Triller and was launched by Swizz Beatz and Timbaland. Triller also owns Amplify.ai, FITE and Thuzio. Mr. GoldfarbPamon served as President & Chief Operating Officer of Parkwood Entertainment, founded by global entertainer Beyoncé, from 2015 until 2020. In this position, Mr. Pamon oversaw an extensive global media portfolio, including artist management, music production, concert tours, motion pictures, television specials and consumer products. Throughout his tenure, he has achieved critical and commercial success as evident in the Super Bowl 50 Halftime Show, Lemonade visual album, The Formation World Tour, Netflix’s Homecoming documentary and the Disney+ film, Black Is King, among many others. For his work as an Executive Producer, Pamon has received two Emmy nominations, two Grammy nominations and is both a Grammy Award winner for Homecoming and a Peabody Award winner for Lemonade. Prior to joining Parkwood Entertainment, Mr. Pamon was the Head of Sports and Entertainment Marketing for JPMorgan Chase, where he led a team responsible for the ongoing operations around the bank’s broad sponsorship portfolio with various leagues, events and venues. Before joining JP Morgan Chase in 2011, he was Vice President of Strategy and New Business Development for the National Football League, served as Senior Vice President and General Manager of HBO’s Digital Distribution, and held positions at Time Warner, McKinsey & Co, Citigroup and Merrill Lynch. Mr. Pamon has been Co-founderrecognized on Billboard’s Power Players List for four years, reaching No. 1 as “Executive of the Year” in 2019. Mr. Pamon serves on the corporate board of IMAX Corporation, the board of New York Road Runners, and Partner of Melo7 Tech Partners, LLC, which was founded by Carmelo Anthonyis a founding advisory board member for the Launch with GS fund.

Michelle D. Wilson has served as Founder and Mr. Goldfarb to invest in and develop opportunities primarily in early stage digital media, consumer internet and technology ventures. Prior to this, from January 2012, Mr. Goldfarb was President of Fullbridge, Inc., a provider of an accelerated, rigorous business education program. From June 2011 until January 2012, Mr. Goldfarb was President and ChiefCo-Chief Executive Officer of Atrinsic, Inc., a marketer of direct-to-consumer subscription products and an Internet search marketing agency. Mr. GoldfarbIsos since January 2021. She has served as Co-President of Progress since August 2022. Ms. Wilson previously served as the Founder, Co-Chief Executive Officer and Co-Chairman of Isos Acquisition Corporation from January 2021 until its merger with Bowlero in December 2021. From February 2020 to December 2020, Ms. Wilson was a private investor. Prior to her position with Isos, Ms. Wilson served as Co-President and a director of Atrinsicat WWE from February 2018 to January 2010 until December 2012. In June 2012, Atrinsic filed a voluntary petition under Chapter 112020. She served as Chief Revenue & Marketing Officer from November 2013 to February 2018, and Chief Marketing Officer from February 2009 to February 2018. From August 2001 to February 2009, she was Chief Marketing Officer of the United States Bankruptcy CodeTennis Association, where she was instrumental in making the U.S. Open the highest attended annual sporting event in the U.S. Bankruptcy Courtworld with more than 700,000 fans in attendance every year. She was pivotal in the implementation of several innovations for the Southern District of New York. The filing was precipitated by Atrinsic’s cessation of certain businessessport, including in-stadium video screens, blue courts, instant replay and its inability to raise financing. From November 2009 to June 2011, Mr. Goldfarb was a Partner in Unbound Partners LLC, a marketing and management consulting firm. From 2001 to 2009, Mr. Goldfarb was President and Chief Executive Officer of Direct Brands, Inc. Under his leadership, the company grew to


be the world’s largest direct marketer of music, DVDs and books, with household brands such as Columbia House, BMG Music, Doubleday Book Club, Book-of-the-Month-Club and cdnow.com. Prior to that, Mr. Goldfarb was President and Chief Executive Officer of bol.com, Bertelsmann’s premier online retailer of books and music, doing business in 18 European and Asian countries. Before joining Bertelsmann, he was Vice Chairman of Value Vision International, a cable TV home shopping and e-commerce company. He was formerly Executive Vice President, Worldwide Business Development at NBC.

Patricia A. Gottesmanis Chair of our Governance & Nominating Committee. From February 2011 until August 2012, Ms. Gottesman was President and Chief Executive Officer of Crimson Hexagon, a social intelligence company in the vanguard of online media monitoring and analysis. From April 2008 to January 2011, she was founder and principal of Omnibus, an international media and technology practice. Prior to that, Ms. Gottesman was with Cablevision Systems Corporation for almost 30 years, most recently as Executive Vice President, Digital Marketing and Commerce. From August 2014 until its merger with comScore, Inc. in January 2016, Ms. Gottesman was a member2004 launch of the Board of Directors and the Audit and Nominating & Governance Committees of Rentrak Corporation, a media measurement and advanced consumer targeting company. Subsequent to this merger, until November 2016, Ms. Gottesman was a director of comScore, Inc., a public company that provides digital media analytics services. Ms. Gottesman served as comScore’s Chair, Nominating and Governance Committee and Co-Chair of its Special Investigation Subcommittee and member of its Audit Committee.

Laureen Ongis a member of our Compensation Committee. She is a consultant in the media industry. From April 2010 to October 2013, Ms. Ong served as President, Travel Channel LLC, a subsidiary of Scripps Networks Interactive, Inc., which operates a television network focusing on travel entertainment. From March 2007 to October 2009, she was Chief Operating Officer of Star Group Limited, which produces, broadcasts and distributes television programming via satellite in Asia.U.S. Open Series. From April 2000 to April 2007, Ms. Ong was President of National Geographic Television, during which timeJuly 2001, she was the chief architect of the launch of its cable television network. Prior to that, she was a senior executive in several sports and media companies. Ms. Ong is on the Board of Charter 100, an organization of Women Executives in Phoenix.

Robyn W. Petersonis a member of our Governance & Nominating Committee. He is a consultant in the media industry. From May 2011 until January 2018, Mr. Peterson was Chief Technology Officer of Mashable, Inc., a leading source of news information and resources for the connected generation. From January 2011 to March 2011, Mr. Peterson was Vice President of Product, NewsMarketing for the XFL. Earlier in her career, Ms. Wilson held positions at the National Basketball Association in its domestic and Infointernational consumer products groups as well as roles at Nabisco and Johnson & Johnson. Ms. Wilson has served on the board of directors of Bowlero since December 2021 and Turtle Beach Corporation (NASDAQ: HEAR) since May 2022. Ms. Wilson holds a B.S.E. in Chemical Engineering from the University of Pennsylvania and an M.B.A. from the Harvard Business School.

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Other Executive Officers

The following table provides information regarding our other executive officers.

Name Age Position with Company With Company Since
       
Kevin Dunn 62 Executive Producer & Chief
Global Television Production
 1984
Maurice F. Edelson 59 EVP, Chief Legal Officer 2022
Rajan Mehta 44 EVP, Chief Product &
Technology Officer
 2015
Suzette Ramirez-Carr 61 EVP, Chief Human Resources Officer 2022
Frank A. Riddick, III 66 President & Chief Financial Officer 2008(1)
(1)Mr. Riddick’s tenure at the Company began as an independent director.

Kevin Dunn has been Executive Producer & Chief Global Television Production since July 2014 and, prior thereto Executive Producer since November 2013, and Executive Vice President, Television Production, since July 2003. Before that, Mr. Dunn served as our Executive Producer for AOL, responsible11 years.

Maurice F. Edelson has served as our Executive Vice President, Chief Legal Officer since September 2022. From 2007 to 2013, Mr. Edelson served as General Counsel and EVP, Corporate Development at Time Inc., and in that role had responsibility for productlegal, compliance, corporate strategy and developmentmergers & acquisitions. Mr. Edelson served as SVP, Deputy General Counsel at Time Warner Inc. from 2013 through 2014. Prior to joining WWE, he served as General Counsel and VP for Administration at The Juilliard School beginning January 2015.

Rajan Mehta is a highly experienced technology professional with over 20 years in the industry. He has worked at WWE, NBC Universal, GE, and a number of technology start-ups where he honed his skills in managing complex technology projects and delivering innovative solutions. Since 2015, Mr. Mehta has served as our EVP, Chief Product and Technology Officer, overseeing our direct to consumer technology, streaming media operations, information technology, enterprise engineering, data science and cybersecurity teams. Previously, he served as a Board Observer to Phunware (PHUN) and as a Technology Advisor to Clypd, which was acquired by AT&T in 2019.

Suzette Ramirez-Carr has served as our Executive Vice President, Chief Human Resources Officer (“CHRO”) since April 2022. She is a seasoned executive with global experience in the news, financepublic and sports sites until AOL’s acquisition of the Huffington Post.private sectors, spanning multiple industries including financial services, advertising, beauty, academia, and media & entertainment. Ms. Ramirez-Carr came to WWE from Beautycounter, a Certified B Corp, where she oversaw human resources, internal communications, DEI and facilities. From March 20102016 to January 2011, Mr. Peterson was Product Director2021, she served as CHRO for Next Issue Media LLC,United Talent Agency (UTA), a company formed by five major U.S. publishers to develop, marketpremier global talent and deliver interactive digital editions of magazines.entertainment company. Previously, Ms. Ramirez-Carr held CHRO roles at Oaktree Capital Management and Southern Methodist University.

Frank A. Riddick, III has served as our President and Chief Financial Officer since July 2022. Prior to that he became our Chief Financial and Administrative Officer in November 2021. From January to August 2020, Mr. Riddick was our Interim Chief Financial Officer. He was a Director at the Company from November 2008 Mr. Peterson was Vice President, Technology and Product for NBC Universal, Inc. From 2001-2004, and from 2005-2008, Mr. Peterson wasuntil he joined the Company as an executive at Ziff Davis Media, where he was Chief Technology Officer. Mr. Peterson was previously involved in other digital companies since 1998.

Frank A. Riddick, IIIis Chair of our Compensation Committee and a member of our Audit Committee.November 2021. Mr. Riddick was Chief Executive Officer of FloWorks International LLC (formerly named Shale-Inland Group LLC), a leading supplier of pipe, valves and related products (“FloWorks”) from September 2013 until November 2017. Prior to that, he was Chairman and then Executive Chairman of FloWorks since March 2012. Mr. Riddick is also currently a member of the Management Advisory Board of Tower Brook Capital Partners, L.P. (“TowerBrook”), a private equity firm.firm that previously had FloWorks in its portfolio of companies. From August 2009 until joining FloWorks, Mr. Riddick was Chief Executive Officer of JMC Steel Group, the largest independent steel tubular manufacturer in

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North America. Prior to that, he was a consultant to TowerBrook. Before joining TowerBrook, he served as President and Chief Executive Officer of Formica Corporation, a manufacturer of surfacing materials, from January 2002 to April 2008. He served as President and Chief Operating Officer of Armstrong Holdings,


Inc. from February 2000 to November 2001, and as Chief Financial Officer at Armstrong and its subsidiaries from 1995 to 2000. Mr. Riddick is a member of the Board of FloWorks and Chairman of the Board of Apache Industrial Services, Inc., which provides scaffolding, insulation, fireproofing and coatings. Mr. Riddick is an Emeritus member of Duke University’s Fuqua School of Business Board of Visitors. Until its sale in July 2015, Mr. Riddick was a member of the board of directors, Chair of the Audit Committee and a member of the Compensation Committee of Geeknet, Inc., the owner and operator of ThinkGeek, an online retailer. Mr. Riddick is also a former director of GrafTech International Ltd, a manufacturer of graphite and carbon products, as well as related technical services.

Jeffrey R. Speedis Chair of the Audit Committee and a member of our Compensation Committee. He served as Executive Vice President and Chief Financial Officer of Six Flags, Inc., the world’s largest regional theme park operator, from April 2006 until October 2010. In June 2009, Six Flags, Inc. filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware, and it emerged from those proceedings in May 2010. Prior to joining Six Flags, Mr. Speed spent approximately 13 years with The Walt Disney Company, serving from 2003 until 2006 as Senior Vice President and Chief Financial Officer of Euro Disney SAS, the publicly-traded operator of the Disneyland Resort Paris, the number one tourist destination in Europe. Prior to that, Mr. Speed spent approximately nine years with the public accounting firm of Price Waterhouse (now PwC).

Other Executive Officers

The following table provides information regarding our executive officers as of March 1, 2018.

Name     Age     Position with Company     With Company Since
Kevin Dunn57Executive Producer & Chief Global1984
Television Production
Blake T. Bilstad48SVP, General Counsel & Secretary2015
Casey Collins45EVP, Consumer Products2012
Michael J. Luisi52President, WWE Studios2011

Kevin Dunnhas been Executive Producer & Chief Global Television Production since July 2014 and, prior thereto Executive Producer since November 2013, and Executive Vice President, Television Production, since July 2003. Before that, Mr. Dunn served as our Executive Producer for 11 years.

Blake T. Bilstadhas served as our Senior Vice President, General Counsel and Secretary since June 2015 and was our acting Senior Vice President - Human Resources from October 2015 until April 2016. Prior to joining us, from April 2004 to March 2015, Mr. Bilstad worked with Provide Commerce, Inc., an e-commerce group specializing in the direct-to-consumer delivery of perishable and personalized gifts, serving as Senior Vice President – Legal & Public Affairs, General Counsel and Secretary. Provide Commerce was publicly-held until its acquisition in 2006 by Liberty Media Corporation. From June 1999 to April 2004, Mr. Bilstad worked with MP3.com, Inc., a publicly-held digital media company acquired in 2001 by Vivendi Universal S.A., a global entertainment and telecommunications conglomerate, where he helped form VUNet USA and served as the group’s Senior Vice President of Legal Affairs and Secretary. Mr. Bilstad held previous legal positions at Cooley Godward LLP, the U.S. Department of Justice – Antitrust Division, the Harvard Negotiation Project and two other major law firms.

Casey Collinshas served as our Executive Vice President, Consumer Products since July 2012. Prior to joining WWE, Mr. Collins was Executive Vice President, Global Licensing & Entertainment at MGA Entertainment, where he oversaw the entertainment, consumer products, retail development and promotions divisions. Before joining MGA Entertainment, Mr. Collins spent 10 years at Lucasfilm Ltd. beginning March 2001, where he was responsible for the management of Lucasfilm’s domestic and international licensing and retail merchandise programs.


Michael J. Luisihas served as President, WWE Studios since September 2011, and was previously our Executive Vice President of Business Development, General Counsel and Secretary from January 2011 to January 2013. Before that, Mr. Luisi was with Miramax Films, a film production and distribution company which, until late 2010, was a subsidiary of The Walt Disney Company (“Miramax”). At Miramax, Mr. Luisi was Executive Vice President, Worldwide Operations, beginning October 2008. Before that, he was Executive Vice President, Business Affairs and Operations, from January 2006. Mr. Luisi joined Miramax in 1998.

The Board and Committees

Our Board has standing Audit, Compensation & Human Capital, Governance & Nominating and Executive Committees. During the year ended December 31, 2017,2022, there were 810 meetings of the Board of Directors, 910 meetings of the Audit Committee, 514 meetings of the Compensation & Human Capital Committee, and 34 meetings of the Governance & Nominating Committee. Under our Corporate Governance Guidelines, Directors are expected to prepare for and attend meetings of the Board and committees on which they sit. Each Director attended more than 75% of the aggregate number of meetings of the Board and committees on which he or she served. Directors are also expected to attend the Company’s Annual Meeting of Stockholders, and all members attended last year’s meeting.

Independent Directors.Each year our Board conducts a review to determine which of our Directors qualify as independent. Based on our most recent review, the sixfive members of our Board noted as independent in the slate of nominees for Director in the table above (Stuart U. Goldfarb, Patricia(George A. Gottesman, Laureen Ong, Robyn W. Peterson, Frank A. Riddick, IIIBarrios, Steve Koonin, Michelle R. McKenna, Steve Pamon, and Jeffrey R. Speed)Michelle D. Wilson) qualified as independent under the NYSE and SEC regulations for Board members as well as those regulations, as applicable, relating to their role on the Audit, Compensation & Human Capital and/or Governance & Nominating Committee(s). These are the standards we use to determine independence. OneThere were certain relationships that the Board affirmatively considered in connection with its independence determination. The Board recognized that Mr. Barrios and Ms. Wilson were former employees of the Company, however, such employment ended more than three years ago (consistent with NYSE independence rules) and each such Director since that time has had very significant positions at other companies. Atlanta’s State Farm Arena, for which Mr. Koonin is Chief Executive Officer, hosted certain of our independent directors has a small stock ownershiplive events. This was not material to either party, was within the threshold promulgated by the NYSE for independence, was in a public company which is a licenseethe ordinary course of business and was neither negotiated by Mr. Koonin nor did it affect him monetarily. Accordingly, the Company; and another independent director has a cousin who is an employee oftransactions were deemed not to affect the Company. The Board considered these relationships and affirmatively determined that neither of them is material.Director’s independence. None of the other independent Directorsnominees has any relationship with the Company other than his or her Director/Committee membership(s). Our Audit, Compensation & Human Capital and Governance & Nominating Committees consist, and at all previous times consisted, solely of independent Directors. The current members of our Committees are as follows: Audit Committee - Mr. Barrios (Chair), Ms. Mckenna and Mr. Pamon; Compensation & Human Capital Committee - Mr. Koonin (Chair) and Ms. Wilson; and Governance & Nominating Committee - Mr. Pamon (Chair), Mr. Koonin and Ms. Wilson.

Lead Independent Director. In 2021, the Company does not currentlydetermined that it would be beneficial for the Company to have a leadLead Independent Director. Mr. Riddick was initially elected but, upon his becoming our Chief Financial and Administrative Officer in November 2021, the Board elected Man Jit Singh to the position. Mr. Singh resigned in January 2023, and the position is now held by Mr. Koonin. The Lead Independent Director is expected to review and advise on Board meeting schedules, agendas and materials, act as liaison between independent director.Directors and members of management, preside over executive sessions of independent Directors, consult with stockholders as requested, facilitate discussions and feedback to Mr. McMahon, our Executive Chairman, and Mr. Khan, our Chief Executive Officer, and other members of management and assist in assuring compliance with the Company’s corporate governance guidelines.

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NYSE Listing Standards.Certain provisions of the corporate governance rules of the NYSE are not applicable to “controlled companies.” “Controlled companies” under those rules are companies of which more than 50 percent of the voting power is held by an individual, a group or another company. The Company currently is a “controlled company” under this definition by virtue of the beneficial ownership by Mr. McMahon of approximately 42%38.6% of the Company’s outstanding equity and approximately 83%81% of the combined voting power of our Common Stock. As a “controlled company,” the Company is exempt from the NYSE listing standards of having a majority of independent directors and independent compensation & human capital and governance & nominating committees. However, theThe Company currently does not availavailed itself of these “controlled company” exemptions.exemptions from January 6, 2023 until January 31, 2023.

Board Structure and Risk ManagementManagement. . Mr. McMahon serves as both our Chairman and Chief Executive Officer. The Board believes that the unique blend of creativity, entrepreneurship and management skills required to act as Chief Executive Officer at the Company would make filling this position extremely difficult. As a practical matter, Mr. McMahon’s combined role as Chairman and Chief Executive Officer reflects the larger reality that as the owner of a majority of the Company’s voting power, management of the Company is within his ultimate control. This notwithstanding, the Board recognizes the critical role it plays in risk oversight and believes that it works well with managementneed to understand and give clear guidance on matters that it considers to pose possible risks to the Company, such as the strategic alternatives initiative described in the Introductory Note of this Proxy Statement, entering into new business ventures, cybersecurity and other matters disclosed as risk factors in the Company’s Annual Report on Form 10-K. In addition, as described elsewhere in this proxy, certain committees of the Board have primary oversight


responsibility for specific risk factors. Examples include (i) Audit Committee oversight of, among other things, SEC filings, internal and external audit functions and related party transactions; (ii) Compensation & Human Capital Committee oversight of compensation matters for senior executives, including limitingmitigating instances where compensation could be tied to excessive risk taking by management; and (iii) Governance & Nominating Committee oversight of corporate governance and the recommendation of a slate of nominees for Director and Committee memberships. TheAlthough, as mentioned in the Introductory Note of this Proxy Statement, there have been significant changes to the composition of the Board, Committees and management that were not initiated by the Board at the time, the current Board believes that the administration of its risk oversight function has not been negatively affected by the Board’s current leadership structure, and the Board believes it appropriately addresseswill continue to be able to address risk factors facing the Company.Company appropriately.

Executive SessionsSessions.. Under our Corporate Governance Guidelines, the non-management/independent members of the Board meet at least quarterly in executive sessions (i.e.(i.e., without the presence of management). In practice, most Board and Committee meetings include an executive session. During 2022, the independent directors and a special committee of the independent Directors were very active, holding many meetings. Executive sessions are presided over by the chair of the appropriate Committee hosting the executive session or, if an executive session of all independent Directors, by the principal item to be considered is within a Committee’s scope and, if not, such chairs alternate executive sessions.Lead Independent Director.

Communications with Directors.Directors. Interested parties who wish to communicate with a member or members of the Board of Directors, including Committee chairs and the non-management/independent Directors as a group, may do so by addressing their correspondence to such members or group c/o WWE, 1241 East Main Street, Stamford, CT 06902, Attention: Corporate Secretary, and all such communications, which are not solicitations, bulk mail or communications unrelated to Company issues, will be duly forwarded.

Corporate Governance Guidelines.Our Corporate Governance Guidelines are posted on our corporate website (corporate.wwe.com).

Code of Business Conduct.We have adopted a Code of Business Conduct (the “Code”) which applies to all of our Directors, officers and employees, including our Executive Chairman and our Chief Executive Officer and senior financial and accounting officers. Our Code requires, among other things, that all of our Directors, officers and employees comply with all laws, avoid conflicts of interest, conduct business in an honest and ethical manner and otherwise act with integrity and in the Company’s best interest. In addition, our Code imposes obligations on all of our Directors, officers and employees to maintain books, records, accounts and financial statements that are accurate and comply with applicable laws and with our internal controls. A copy of our Code is posted on our corporate website (corporate.wwe.com). We also plan to disclose any amendments to, and waivers from, the Code on this website.

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Audit Committee.We have an Audit Committee meeting the definition of “audit committee” under Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Audit Committee consists of its Chair, Mr. Speed,Messrs. Barrios (Chair) and Messrs. GoldfarbPamon and Riddick.Ms. McKenna. Each of these members satisfies the independence requirements of applicable NYSE and SEC rules relating to independence generally and to audit committees specifically, and is financially literate with a working familiarity with basic finance and accounting practices within the meaning of the listing standards of the NYSE. Messrs. SpeedNYSE and Riddick have accounting and related financial management expertise and areis qualified as an audit committee financial expertsexpert within the meaning of the applicable rules and regulations of the SEC. Pursuant to the charter of our Audit Committee, no Audit Committee member may simultaneously serve on the audit committee of more than three public companies. During portions of 2022 and early 2023, additional Audit Committee members, each of whom was independent and financially literate, included Ignace Lahoud and Jeffrey R. Speed (each of whom qualified as an audit committee financial expert), Alan Wexler and Mr. Koonin. Messrs. Lahoud, Speed and Wexler are no longer Directors.

The primary purpose of our Audit Committee is to provide assistance to the Board in fulfilling its responsibilities to our stockholders and the investment community relating to our corporate accounting and reporting practices and the quality and integrity of our financial reports. The Audit Committee’s charter is posted on our corporate website (corporate.wwe.com). The Audit Committee charter states that the Committee will, among other things, fulfill the following obligations:

Review and discuss with management and the independent auditors our audited financial statements, quarterly financial statements and all internal control reports (or summaries thereof).
Review any other relevant reports or financial information submitted by the Company to any governmental body, or the public, including management certifications as required by the Sarbanes-Oxley Act of 2002 (Sections 302 and 906) and relevant reports rendered by the independent auditors (or summaries thereof).
Review with financial management and the independent auditors each Quarterly Report on Form 10-Q and each Annual Report on Form 10-K (including, without limitation, the Company’s specific disclosures under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”) prior to its filing.
Review and discuss earnings press releases with management, including the type and presentation of information, paying particular attention to any use of “pro-forma,” “adjusted” or other information which is not required by generally accepted accounting principles.
Review and discuss with management financial information and earnings guidance provided to analysts and rating agencies. Such discussions may be on general terms (i.e., discussion of the types of information to be disclosed and the type of presentation to be made) and need not be in advance of each earnings release or earnings guidance.
Review the regular internal reports (or summaries thereof) to management prepared by the internal auditor(s) and management’s response.
Recommend to the Board whether the audited financial statements should be included in the Company’s Annual Report on Form 10-K.
Obtain from the outside auditors assurance that the audit was conducted in a manner consistent with Section 10A of the Exchange Act, which sets forth certain procedures to be followed in any audit of financial statements required under the Exchange Act.
Have sole authority to appoint (subject to stockholder ratification), compensate, retain and oversee the work performed by the independent auditor engaged for the purpose of preparing and issuing an audit report or performing other audit, review or attest services for the Company. The Audit
Review and discuss with management and the independent auditors our audited financial statements, quarterly financial statements and all internal control reports (or summaries thereof). 10


Review any other relevant reports or financial information submitted by the Company to any governmental body, or the public, including management certifications as required by the Sarbanes-Oxley Act of 2002 (Sections 302 and 906) and relevant reports rendered by the independent auditors (or summaries thereof).
 

Review with financial management and the independent auditors each Quarterly Report on Form 10-Q and each Annual Report on Form 10-K (including, without limitation, the Company’s specific disclosures under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”) prior to its filing.
 
Review and discuss earnings press releases with management, including the type and presentation of information, paying particular attention to any use of “pro-forma,” “adjusted” or other information which is not required by generally accepted accounting principles.

Review and discuss with management financial information and earnings guidance provided to analysts and rating agencies. Such discussions may be on general terms (i.e., discussion of the types of information to be disclosed and the type of presentation to be made) and need not be in advance of each earnings release or earnings guidance.

Review the regular internal reports (or summaries thereof) to management prepared by the internal auditor(s) and management’s response.
Recommend to the Board whether the audited financial statements should be included in the Company’s Annual Report on Form 10-K.
Obtain from the outside auditors assurance that the audit was conducted in a manner consistent with Section 10A of the Exchange Act, which sets forth certain procedures to be followed in any audit of financial statements required under the Exchange Act.
Have sole authority to appoint (subject to stockholder ratification), compensate, retain and oversee the work performed by the independent auditor engaged for the purpose of preparing and issuing an audit report or performing other audit, review or attest services for the Company. The Audit Committee has the ultimate authority to approve all audit engagement fees and terms. The Audit Committee has sole authority to review the performance of the independent auditors and remove the independent auditors if circumstances warrant. The independent auditors report directly to the Audit Committee and the Audit Committee shall oversee the resolution of any disagreement between management and the independent auditors in the event that any may arise.
Review with the independent auditor (without representatives of management when deemed necessary) reports or communications (and management’s and/or the internal audit department’s response thereto) submitted to the Audit Committee by the outside auditors required by or referred to in Auditing Standard No. 1301 and SEC Rule 2-07 of Regulation S-X; review any problems or difficulties with an audit and management’s response, including any restrictions on the scope of the independent auditor’s activities or any access to requested information, and any significant disagreements with management; and review and hold timely discussions with the independent auditors.
Review audit services and approve in advance non-audit services to be provided by the independent auditors, taking into consideration SEC rules regarding permissible and impermissible services by such independent auditors. This duty may be delegated to one or more designated members of the Audit Committee with any such pre-approval reported to the Audit Committee at its next regularly scheduled meeting. Approval of non-audit services will be disclosed to investors in periodic reports to the extent required by the Exchange Act.

Review with the independent auditor (without representatives of management when deemed necessary) reports or communications (and management’s and/or the internal audit department’s response thereto) submitted to the Audit Committee by the outside auditors required by or referred to in applicable requirements of the Public Company Accounting Standards Board and the SEC; review any problems or difficulties with an audit and management’s response, including any restrictions on the scope of the independent auditor’s activities or any access to requested information, and any significant disagreements with management; and review and hold timely discussions with the independent auditors.

Review major issues regarding accounting principles and financial statement presentations, including any significant changes in the Company’s selection or application of accounting principles, and major issues as to the adequacy of the Company’s internal controls and any special audit steps adopted in light of material control deficiencies.

Prepare the Audit Committee report that the SEC requires be included in this proxy statement.
Discuss policies with respect to risk assessment and risk management.
Maintain procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters.
Review audit services and approve in advance non-audit services to be provided by the independent auditors, taking into consideration SEC rules regarding permissible and impermissible services by such independent auditors. This duty may be delegated to one or more designated members of the Audit Committee with any such pre-approval reported to the Audit Committee at its next regularly scheduled meeting. Approval of non-audit services will be disclosed to investors in periodic reports to the extent required by the Exchange Act.
Review major issues regarding accounting principles and financial statement presentations, including any significant changes in the Company’s selection or application of accounting principles, and major issues as to the adequacy of the Company’s internal controls and any special audit steps adopted in light of material control deficiencies.
Prepare the Audit Committee report that the SEC requires be included in this proxy statement.
Discuss policies with respect to risk assessment and risk management.
Maintain procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters.

Compensation Committee.& Human Capital Committee. The Compensation & Human Capital Committee consists of its Chair, Mr. Riddick,Koonin (Chair), and Ms. Ong and Mr. Speed.Wilson. Each of these members satisfies the independence requirements of applicable NYSE and SEC rules relating to independence generally and compensation committees specifically. The primary purpose of the Compensation & Human Capital Committee is to provide assistance to the Board in evaluating and approving the structure, operation and effectiveness of the Company’s compensation plans, policies and procedures. The Compensation & Human Capital Committee’s charter is posted on our corporate website (corporate.wwe.com). During portions of 2022 and early 2023, additional Compensation & Human Capital Committee members, each of whom was independent, included Erika Nardini, Connor Schell and Man Jit Singh, each of whom has left our Board of Directors, and Michelle R. McKenna and Steve Pamon. The Compensation & Human Capital Committee charter states that the Committee will, among other things, fulfill the following obligations:

Approve all employment agreements for the Executive Chairman, the Chief Executive Officer and all officers of the Company who (i) have a title of Executive Vice President or have equal or higher seniority; or (ii) are “officers” as defined in Rule 16a – 1(f) promulgated under the Exchange Act (collectively, the “Senior Executives”).
Approve all employment agreements for the Chairman and Chief Executive Officer and all officers of the Company who (i) have a title of Executive Vice President or have equal or higher seniority; (ii) are “officers” as defined in Rule 16a – 1(f) promulgated under the Exchange Act; or (iii) are other senior executives who report directly to the Company’s Chairman and Chief Executive Officer (collectively, the “Senior Executives”). 11
 
Annually review and approve corporate goals and objectives relevant to the compensation of the Chairman and Chief Executive Officer, evaluating his performance in light of those goals and objectives, and either as a Committee or together with the other independent Directors determine and approve the Chairman and Chief Executive Officer’s compensation level based on this evaluation. In determining the long-term incentive component of the Chairman and Chief Executive Officer’s compensation, the Compensation Committee will consider the Company’s and the individual’s performance, relative total shareholder return, the value of similar incentive awards to chairs and chief executive officers at comparable companies and awards given in past years, among other factors.
Annually review and approve for Senior Executives: (i) the annual base salary level, (ii) the annual incentive opportunity level, (iii) the long term incentive opportunity level, (iv) severance arrangements and change in control agreements/provisions in each case when and if appropriate, and (v) any special or supplemental benefits.
Annually review management’s recommendations and make recommendations to the Board of Directors with respect to the compensation of all Directors and Senior Executives, including all compensation, incentive compensation plans, equity-based plans as well as the individuals or groups of individuals receiving awards under incentive and equity-based compensation plans; provided, however, that the Compensation Committee has full decision-making powers with respect to compensation intended to be performance-based compensation within the meaning of Section 162(m) of the Internal Revenue Code.
Annually review and approve corporate goals and objectives relevant to the compensation of the Chief Executive Officer, evaluating his performance in light of those goals and objectives, and either as a Committee or together with the other independent Directors determine and approve the Chief Executive Officer’s compensation level based on this evaluation. In determining the long-term incentive component of the Chief Executive Officer’s compensation, the Compensation & Human Capital Committee will consider the Company’s and the individual’s performance, relative total shareholder return, the value of similar incentive awards to chairs and chief executive officers at comparable companies and awards given in past years, among other factors.
Review and approve for Senior Executives: (i) the annual base salary level; (ii) the annual incentive opportunity level; (iii) the long term incentive opportunity level; (iv) severance arrangements and change in control agreements/provisions, in each case when and if appropriate; and (v) any special or supplemental benefits.
Review management’s recommendations and make recommendations to the Board of Directors with respect to the compensation of all Directors and Senior Executives, including all compensation, incentive compensation plans, equity-based plans as well as the individuals or groups of individuals receiving awards under incentive and equity-based compensation plans.
Administer the Company’s 2016 Omnibus Incentive Plan and any successor or other incentive compensation plans of the Company.

The Compensation & Human Capital Committee has authority to hire compensation consultants, independent counsel and other advisors. For 2022, the past several years, theCompensation & Human Capital Committee has retained the services of Frederic W. CookPearl Meyer & Co., Inc.Partners, LLC (the “Compensation Consultant”). The Compensation & Human Capital Committee annuallyregularly reviews theits Compensation Consultant’s independence and has determined that no conflicts of interest exist.

Compensation & Human Capital Committee Interlocks and Insider Participation.Participation. During 2017,2022 and to date in 2023, no member of the Compensation & Human Capital Committee was ana current or former officer or employee of the Company or any of our subsidiaries, nor isexcept for Michelle Wilson, who, as previously disclosed, served until January 2020 as our Co-President and Chief Revenue Officer. Ms. Wilson did not serve on our Compensation & Human Capital Committee during any such person a former officer of the Companyperiod she was an employee or any of our subsidiaries. In addition, nofor three years thereafter. No “compensation committee interlocks,” as described under SEC rules, existed during 2017.2022 and to date in 2023.

Governance & Nominating Committee.The Governance & Nominating Committee consists of its Chair,Messrs. Pamon (Chair) and Koonin and Ms. Gottesman, and Messrs. Goldfarb and Peterson.Wilson. Each of these members satisfies the independence requirements of applicable NYSE and SEC rules relating to independence generally.

During portions of 2022 and early 2023 additional Governance & Nominating Committee members, each of whom was independent, included Laureen Ong, Man Jit Singh and Jeffrey R. Speed, each of whom has left our Board of Directors. The Governance & Nominating Committee operates under a charter. This charter is posted on our corporate website (corporate.wwe.com). Under its charter, the Governance & Nominating Committee responsibilities include:

Monitoring the implementation and operation of the Company’s Corporate Governance Guidelines.
Reviewing from time to time the adequacy of the Corporate Governance Guidelines in light of broadly accepted practices of corporate governance, emerging governance issues and market and regulatory expectations, and advising and making recommendations to the Board with respect to appropriate modifications.
Preparing and supervising the implementation of the Board’s annual review of director independence.
Monitoring the implementation and operation of the Company’s Corporate Governance Guidelines. 12
 
Reviewing from time to time the adequacy of the Corporate Governance Guidelines in light of broadly accepted practices of corporate governance, emerging governance issues and market and regulatory expectations, and advising and making recommendations to the Board with respect to appropriate modifications.
Preparing and supervising the implementation of the Board’s annual review of director independence.
Developing an annual self-evaluation process for the Board and Committees, which process is overseen by the Governance & Nominating Committee, and recommending such process to the Board for its approval.
Identifying, reviewing and evaluating candidates for election as Director, consistent with criteria approved by the Board, including appropriate inquiries into the background and qualifications of candidates, interviewing potential candidates to determine their qualification and interest, and recommending to the Board nominees for any election of Directors.
Recommending to the Board the appointment of Directors to serve as members, and as chairs, of the standing Committees and any other Committees established by the Board.
Recommending to the Board appropriate changes to the governance of the Company, including changes to the terms or scope of the Governance & Nominating Committee charter and the Committee’s overall responsibilities.
Making recommendations to the Board regarding any duly submitted stockholder proposal.
Overseeing the Company’s continuing education program for our Directors.
Developing an annual self-evaluation process for the Board and Committees, which process is overseen by the Governance & Nominating Committee, and recommending such process to the Board for its approval.
Identifying, reviewing and evaluating candidates for election as Director, consistent with criteria approved by the Board, including appropriate inquiries into the background and qualifications of candidates, interviewing potential candidates to determine their qualification and interest, and recommending to the Board nominees for any election of Directors.
Recommending to the Board the appointment of Directors to serve as members, and as chairs, of the standing Committees and any other Committees established by the Board.
Recommending to the Board appropriate changes to the governance of the Company, including changes to the terms or scope of the Governance & Nominating Committee charter and the Committee’s overall responsibilities.
Making recommendations to the Board regarding any duly submitted stockholder proposal.
Overseeing the Company’s continuing education program for our Directors.

Nominees for Director. TheIf the Board currently contemplates adding one or twowere to embark on a search for new independent directors, in 2018. The Board willit would consider candidates, and will follow the same process and use the same criteria for evaluating candidates, irrespective of whether they arewere suggested by Board members, management and/or stockholders. Any stockholder recommendations would need to be submitted to the Board at our principal address in care of the Corporate Secretary and would need to include a personal biography of the proposed nominee, a description of the background or experience that qualifies such person for consideration and a statement that such person has agreed to serve if nominated and elected. If stockholders wish to nominate a


person for election to the Board, as contrasted with recommending a potential nominee to the Board for its consideration, they would need to fulfill the requirements detailed under “Stockholder Proposals for 20192024 Annual Meeting.”

The Board plans to reviewreviews potential nominees and decidedecides whether to conduct a full evaluation of any one or more candidates. If additional consideration of one or more nominees is deemed by the Board to be warranted, the Board willmay request its third partya third-party search firm to gather additional information about the prospective nominee’s background and experience. The Board will then evaluateevaluates the prospective nominee taking into account whether the prospective nominee is independent within the meaning of the listing standards of the NYSE and applicable regulations of the SEC and such other factors as it deems relevant, including the then current composition of the Board, the need for Committee expertise, and the evaluations of other prospective nominees. While there is a general desire at least to maintain and preferably enhance, the mixture of viewpoints among its members, the Board does not have any specific policy relating to diversity. The Board will also determine when or how to interview the prospective nominee.nominees. Each Director will havehas the opportunity to participate in the consideration of the prospective nominee. The Governance & Nominating Committee oversees this process and recommends any nominees to the full Board. AfterAs stated in the Introductory Note, during early 2023, Mr. McMahon elected himself, Mr. Barrios and Ms. Wilson to the Board without participation of the Governance & Nominating Committee has completed this process, the Board will make a determination.Committee.

While as stated above, the Company contemplates adding one or two new independent directors in 2018, theThe Board believes that its current members comprise an appropriate mix of background, diversity and expertise. In particular, Mr. McMahonKhan is a seasoned managermedia and entertainment executive who understands what is necessary for the Company to thrive in the dynamic and competitive markets in which we compete. In particular, he has significant expertise in creative matters, television, talent development and live events, each of which is a critical aspect of our business. As our co-founder, Mr. McMahon has decades of experience overseeing all of our revenue streams. He is familiar with every aspect of our business and industry. Similarly, Ms. McMahon andinsight into strategic initiatives including, most notably, the Proposed Transaction. Mr. Levesque havehas decades of experience in our Company and have bothhas been an important playersplayer in all aspects of our creative process, including television, talent and live events. Each of Messrs. BarriosMcMahon, Khan and Levesque and Mses. Wilson and McMahon all havehas extensive practical experience with many of our revenue streams and each of them has been critically involved in our business transformation over the past several years as well as our continuing brand development. Mr. Khan’s years of experience

 13

negotiating television distribution and other licenses and understanding business relationships with talent is expected to continue to add significant value. Of the independent directors,nominees for director, Mr. GoldfarbKoonin is an expert in the television business as well as live events and talent management. Each of Mr. Barrios and Ms. Wilson has more than 25 yearsextensive C-Suite experience in media companies, including the Company, where they were Co-Presidents until January 2020. Ms. McKenna has decades of experience in media, companies with revenue streams similar to thoselive events and sports industries including financial and technology expertise, each of the Company. For more than 12 years of his tenure, Mr. Goldfarb has served at the CEO level. He has significant e-commerce and digital experience. Ms. Gottesman has nearly 30 years of senior level experience with a cable television operator. This experience provides the Company insight into the television industry. She also has relevant digital and social networking experience. Ms. Ong has decades of experience as a senior executive in television, and Mr. Peterson adds further expertise in the digital space. The digital expertise added to the Board by Messrs. Goldfarb and Peterson and Ms. Gottesman are of particular note in light of WWE Network, the Company’s most important recent undertaking. The television expertise added by Mses. Gottesman and Ong are of note because television (together with live events) traditionallywhich has been, at the core of the Company’s business, and video programming, however it is distributed, willexpected to continue to be, criticalof great importance to our success. Messrs. Riddickthe Company. Mr. Pamon provides a rich perspective on creative matters as well as marketing and Speed bring financialmonetizing content through live events and auditing acumen as both have been chief financial officers of large companies. In the case of Mr. Speed, approximately 20 years of his experience has been spent in media and entertainment companies.audio/video programming. The foregoing experience, qualifications and skills led the Board to conclude that each of these members should serve and be nominated for re-electionelection at this year’s Annual Meeting.Meeting and serve their respective roles noted in this proxy statement in the upcoming year.


 14

EXECUTIVE COMPENSATION

Compensation Discussion and Analysis

Executive Summary

World Wrestling Entertainment, Inc. is an integrated media and entertainment company. We have been involved in the sports entertainment business for more than 35 years,four decades, and have developed WWE into one of the most popular and recognizable brands in global entertainment today. We developare principally engaged in the production and distribution of unique and creative content centered aroundthrough various channels including content rights agreements for our talenttelevision programming, WWE Network content (including premium live event and present it viaarchival programming) licensed domestically to Peacock and available either through distributors or direct-to-consumer in most international markets, live events and the sale of consumer products featuring our subscription network, television, online and at our live events.brands. At the heart of our success are the athletic and entertainment skills and appeal of our Superstars and our consistently innovative and multi-faceted storylines. Our WWE Network, live and televised events, digital media, home entertainment, consumer products and feature filmsdistribution platforms provide significant cross-promotion and marketing opportunities that reinforce our brands while effectively reaching our fans.

20172022 Highlights.2017 WWE rose to the challenges brought by the year, emerging from the COVID-19 pandemic, producing live, in-ring content without interruption and fully resuming our live event touring schedule for our fans, including international venues, demonstrating once again our ability to adapt to unprecedented challenges. As a result, 2022 was another record-breaking year for the Company. We believe management was highly effective in achieving the following results:

Revenue increased 10%by 18% to $801.0 million,$1.3 billion, the highest in the Company’s history driven by monetization(the ninth year of video across all our platforms.consecutive record revenues).
Total international revenue exceeded $200 million for the first time.
Operating income increased 36%11% to $75.6a record $283.3 million.
The Company deliveredAdjusted OIBDA as described below increased 19% to a total shareholder return (“TSR”) of 69%, including dividends aggregating approximately $37.0 million. WWE’s stock performance outpaced the S&P 500, the Russell 2000 and many other media peers.
Raw celebrated its 25th Anniversary (in early 2018) and remained the #1 show on USA Network for the twelfth consecutive year. Smackdown, the network’s second most watched show, surpassed 950 episodes.
WWE Network average paid subscribers increased 8% to 1.53record $384.6 million.
Digital engagement continuedWe returned capital to grow with video views of more than 20 billionstockholders totaling $75.7 million, including share repurchases and 1.2 billion social media engagements.dividends paid.

We believe our record-setting revenue and other strongthese results in 2017 validate our ongoing and continued investment to support the Company’s long-term objectives.

Forin our key employees, who are required for the Company to achieve our desired level of success, wesuccess. We must continue to attract, retain and incentivize management. These efforts were particularly important during 2022 in connection with changes in our leadership. The incentive compensation package for senior management in 20172022 is described in detail below and was structured for precisely that purpose.below. On balance, we believe theour ongoing compensation structure envisions and appropriately incentivizesbalances incentivizing achievement of long-term growth and transformation while continuing to tiewith long-term retention and risk mitigation. The program ties a meaningful portion of management’s compensation to annual financial and strategic performance. Equally important,In an effort to further align our compensation program with our long-term goals, we alsohave initiated certain changes to our equity program in respect of 2023 by eliminating our practice of granting equity incentive compensation with only a one-year performance period and granting a portion of the equity in restricted stock units. By transitioning to an equity incentive compensation program that measures performance over a three-year period, we will able to focus effectively on the achievement of significant and sustained improvements in performance and strategic initiatives over the long term. In addition, the Company recently disclosed enhancements to the compensation of certain named executive officers in the event of the closing of the Proposed Transaction. We believe that this incentive for transformationour compensation mix continues to moderate the risk to drive short-term results by promoting greaterencouraging management focus onto work toward long-term performance.


Named Executive Officers.Our named executive officers for 20172022 are:

NameTitle
Vincent K. McMahonExecutive Chairman & Former Chief Executive Officer
George A. BarriosNick KhanCo-PresidentChief Executive Officer
Michelle D. WilsonStephanie McMahonCo-PresidentFormer Co-Chief Executive Officer
Paul LevesqueEVP, Talent, Live Events & CreativeChief Content Officer
Frank A. Riddick, IIIPresident & Chief Financial Officer
Kevin DunnExecutive Producer &and Chief Global Television Production
Suzette Ramirez-CarrChief Human Resources Officer

Elements of WWE’s Compensation Program.In general, the compensation package provided to our senior managementnamed executive officers who are current employees consists of three major components:

Reward

Component
ObjectivesDetermination of Component Value
Base SalaryProvides a fixed elementof compensation paid incash to reward day-to-daycontributions to the Company.Serves as an attraction andretention tool.Salary for each executive isdetermined based on a number offactors including:including job responsibilities,tenure and experience, individualperformance, internal parity and abroad-based assessment of the market.comparison with our peer group.Fixed

Compensation
Short-Term Cash Incentive Bonus CompensationProvides cash-based reward for achievement of annual performance measures that are integral to the success of the Company and reinforce its business strategy and vision.Executives are assigned a target annual incentive opportunity expressed as a percentage of his or her base salary. Performance is measured against a detailed set of financial, strategic andand/or individual performance measures. Payouts may be above or below target based on a rigorous assessment of performance relative to the goals established at the beginning of the performance period.Variable
Compensation
Longer-Term Equity Incentive CompensationAs a complement to the annual incentive bonus plan, provides equity-based awards that are linked to the longer-termlonger- term performance of the Company thereby aligning executives’ and stockholders’ interests.In general, an executive receives 100% of his or her annual longer-term incentive opportunity in the form of Performance Stock Units (“PSUs”). Consistent with theour pay for performance principles, of our compensation plan, the PSU awards may be earned at levels above or below target based on actual performance relative to pre-established goals.goals and generally have continued vesting periods after meeting performance metrics. We also may grant time-based equity awards in some circumstances. Certain changes have been made to our equity program in 2023 as described above in this Executive Summary.

The Compensation & Human Capital Committee believes that thisthe Company’s compensation program constitutes the appropriate mix of fixed and variable compensation as well as short-term and longer-term compensation, a significant portion of which is tied to Company performance, aligning the interests of management with those of our stockholders. Further, we believe our compensation program incentivizes management and serves our attraction, retention and motivation goals while remaining fiscally prudent and not encouraging excessive risks. We also believe that the design of our compensation program is generally consistent with other companies in the entertainment industry. The Company does not provide a defined benefit plan or other similar retiree benefits and generally does not provide its executive officers with perquisites such as cars, club memberships or personal services. Therefore, these three core components (base salary, short-term cash incentive through our management incentive bonus plan, and longer-term equity incentive)incentives), when added together, reflect an accurate picture of the total compensation opportunity available to our senior executives. In an effort to further align our compensation program with our long-term goals, for 2023, we will be moving executives’ equity compensation to a longer-term performance period with different financial tests from those used for the executives’ annual incentive bonus compensation.

Ms. McMahon and Mr. Levesque, as awho have been key performerperformers for the Company, hashave certain additional compensation made pursuant to his agreementtheir booking agreements described below.

Aligning Interests with Stockholders.The table below highlights key executive compensation practices that the Compensation & Human Capital Committee has implemented to encourage a high level of performance and alignment of management and our stockholders’ interests. The table also highlights compensation practices that the Committee has expressly avoided or rejected. We believe these efforts support a strong governance culture and are in the long-term interests of our stockholders.

What We Do . . .What We Do Not Do . . .
☑     þPay for Performance☒     ýNo Gross-up Payments to Cover Excise Taxes
☑     þTie Significant Levels of Compensation to Corporate and Individual Goals☒     ýNo Guaranteed Annual or Multi-Year Bonuses
☑     þCaps on Annual Bonuses and Long-Term Incentives☒     ýNo Special Executive Retirement Programs
☑     þStock Ownership and Stock Holding Requirements☒     ýNo Repricing of Underwater Stock Options
☑     þMultiple Performance Metrics under Short-termShort- term and Longer-term Incentive Plans☒     ýNo Excessive Perquisites for Executives
☑     þDouble Trigger for Change in Control Provisions☒     ýNo Dividend Equivalents Paid Prior to Vesting of Performance Awards (and Never on Unearned Portion of Awards)
☑     þUse an Independent Consultant who Reports Directly to the Compensation & Human Capital Committee☒     ýNo Incentives to Excessively or Inappropriately Encourage Risk Taking Through our Compensation Program
☑     þReview Tally Sheets When Making Executive Compensation Decisions
☑     Mitigate Undue þRisk Mitigation including a Clawback Policy in Compensation Programsthe Event of a Restatement of Financial Results.

Compensation Components

Salary.As part of our continuing effort to manage our fixed costs responsibly, we generally attempt to limit salary increases, typically restricting material increases to instances of promotions or extraordinary contributions to the Company’s performance. The table below highlights recent annual base salariessalary rates for the named executive officers:officers. The table reflects adjustments in salaries resulting from the announcement of significant management changes during 2022 and 2023.

Name     2016     2017     2018 2021  2022  2023
          
Vincent K. McMahon$1,325,000$1,400,000$1,400,000 $1,400,000  $2,000,000(1) $1,200,000(1) 
George A. Barrios$764,400$783,510$870,000(1)
Michelle D. Wilson$771,750$791,044$870,000(1)
Nick Khan $1,200,000  $1,350,000(2) $1,500,000(2) 
Stephanie McMahon $730,000  $1,350,000(2) N/A(3) 
Paul Levesque$606,375$650,000$684,125 $730,000  $900,000(2) $900,000  
Kevin Dunn$909,560$909,560$925,000
Frank A. Riddick, III. $850,000  $950,000(2) $950,000  
Kevin Dunn. $1,000,000  $1,100,000  $1,133,000  
Suzette Ramirez-Carr N/A(4) $725,000  $746,750  

____________________

(1)     

(1)

Annual rate until his resignation in July 2022. Mr. BarriosMcMahon’s salary resumed effective January 9, 2023 at the annual rate of set forth in this table for 2023 for his role as Executive Chairman.
(2)Effective July 22, 2022 when Mr. Khan became Co-CEO as a result of management changes in connection with Mr. McMahon’s resignation. In January 2023, Mr. Khan became sole CEO upon Ms. McMahon’s resignation, and his salary increased to the amount set forth in the table for 2023 effective January 10, 2023.
(3)Ms. Wilson were both promoted to Co-PresidentMcMahon resigned effective January 10, 2023.
(4)Ms. Ramirez-Carr joined our Company in February 2018.

April 2022.

Annual Incentive Bonuses.We believe that an Our annual management incentive bonus plan (“MIP”) that, administered under the 2016 Omnibus Incentive Plan (the “Incentive Plan”), is designed to compensate senior management based on personal and company-wide performanceperformance. We believe this is generally an effective format to incentivize executives to focus on critical financial and strategic short and mid-termlong-term goals. Our approach ties the participant’s interests to those of stockholders without the structural cost increases inherent in salary escalation and without encouraging unnecessary and excessive risk-taking. It acknowledges bothrecognizes individual efforts as well as the collective effort of all participants. For ourMIP bonus targets for eligible named executive officers MIP bonus targets in 2017 ranged from 50% to 100%approximately 160% of salary. Actual bonuses paid under the MIP to our named executive officers in respect of 20172022 are set forth in column (g) of the Summary Compensation Table.

For 2017,2022, the Company established a two-prongthree-prong test for purposes of determining funding of the MIP.

80% of funding was based solely on financial objectives, with 60%50% based on Adjusted OIBDA and 20%30% based on total revenues.
20% of funding was based on the Company’s progress toward fourfive strategic objectives which relate to the Company’s brand strength itsand certain growth and business development initiatives and its business development. In order to fund this factor, the Company must achieve net revenues in excess of $500 million for the fiscal year, regardless of the achievement of the Strategic Objectivesfurther described below.

 

2017 Incentive Plan Payout



The following table shows the MIP funding calculation with actual results for 20172022 shaded.

Determination of MIP Funding Level (2017)

Strategic ObjectivesRevenue (20% ofOIBDA (60%) of MIP
with RevenueMIP Funding)Revenue (30% of MIP Funding)(2)
Testing Funding Factor
(20%Adjusted OIBDA (50% of MIP Funding)(1)
Below
Threshold
0-2.9 out of 10. No fundingforfunding for this factor.Less than $736$1,281 million. No funding for this factor.Less than $80$333 million. No funding for this factor.
Threshold3 out of 10 (60%(50% of factor isfunded)is funded).$7361,281 million (50% of factor is funded).$80333 million (50% of factor is funded).
Between
Threshold
and Target

Each additional 1/10 of apointa point results in an additional2.0%additional 2.5% of this funding factor.Actual Result: 4.7factor to 5.0 out of 10for 94%10.

Actual Result: 4.8 out of 10 for a payout of 95% of this funding factor.

Each additional $1 million results in an additional 3.8% of this funding factor until $1,294 million in revenue.

Actual Result: $1,291.5 million for a payout of 92% of this funding factor.

Each additional $1 million results in an additional 1.25%1.6% of this funding factor until $363 million.
Target5 out of 10 (100% of factor is funded).$1,294 million (100% of factor is funded).$363 million (100% of factor is funded).
Between Target and MaximumEach additional 1/10 of a point results in an additional 2.0% of this funding factor.Each additional $1 million results in an additional 2.5%5.6% of this funding factor.
Target5 out of 10 (100% of factoris funded).$776factor until $1,303 million (100% of factor is funded).$100and, above that, each additional $1 million (100% of factor is funded).
Between
Target and
Maximum
Each additional 1/10 of a point results in an additional 2%5% of this funding factor.factor until $1,313.

Each additional $1 million results in an additional 2.8%2.5% of this funding factor. Actual Result: $801.0factor until $383 million for 170% of factor.

Each additionalafter which each $1 million results in an additional 6.7%3.8% to $396 million.

Actual Result: $384.6 million for a payout of 155% of this funding factor. Actual Result: $101.6 million for 111% of factor.

MaximumMaximum.200% funding of this factor at a strategic goal score of 10 out of 10.200% funding of this factor at $812revenue of $1,313 million or higher.200% funding of this factor at $115$396 million or higher.

____________________

(1)

Regardless of achievement of any of the Strategic Objectives, no funding on this portion of the MIP would occur unless a revenue test ($500 million) is met. Revenues for 2017 were $801.0 million so this revenue test was met.

(2)

Adjusted OIBDA is a non-GAAP figure which has beenfinancial measure. Our definition of Adjusted OIBDA may be different from similarly titled non-GAAP financial measures used by other companies. Adjusted OIBDA is the primary measure of profitability used by management of the Company. It consists ofCompany to evaluate segment performance and make decisions about allocating resources. We define Adjusted OIBDA as operating income before depreciation and amortization, (excluding feature filmexcluding stock-based compensation, certain impairment charges and television production asset amortization and impairments, as well as the amortization of costs related to content delivery and technology assets utilized for WWE Network).other non-recurring material items. See our Annual Report on Form 10-K for the year ended December 31, 20172022 for a reconciliation of Adjusted OIBDA to operating income.


The determination of the Strategic Objectives score for the foregoing purposes is set forth in the following table. ThoughAlthough these objectives are not calculable on a purely mathematical basis, they are scored by the Compensation & Human Capital Committee based on certain measures of success. The Compensation & Human Capital Committee closely reviews and discusses performance relative to this scorecard on a quarterly basis.

Strategic ObjectivesIndicative Benchmarks
Grow WWE Network (30%Performance (10%)Average hours consumed per subscriber.International WWE Network Licensing
Drive International Growth (30%Certain License Renewal(s) (20%)Number of markets with localized content; social media metrics.Revenue on Renewal
Brand StrengthPremium Live Event Revenue (20%)Certain television ratings, social media metrics and sponsorships.Live Event Revenue Metrics
InnovationTotal Viewer Engagement (30%)Certain Digital Viewership and Social Media Metrics
Certain Ratings (20%)Revenue from new product initiatives; hours of new content produced/acquired.Key Television Ratings
Management Overall Actual Score4.7 (94%4.8 (95% of factor funding).

The following table compares MIP funding for 20172022 with that of the prior two years:

         Strategic               Aggregate Funding of
Calendar YearGoal Score(1)OIBDA TargetRevenue TargetIncentive Pool
20157.2$46.0 million$592 million164%
20167.9$80.0 million$705 million131%
20174.7$100.0 million$776 million120%
Calendar Year Strategic
Objectives
Overall Score
 OIBDA Target Revenue Target Aggregate Funding of
Incentive Pool
          
2020 5.0 $300.0 million $1,165 million 61%
2021 4.1 $304.0 million $1,083 million 140%
2022(1). 4.8 $363.0 million $1,294 million 124%

____________________

(1)

Includes achievementIn connection with its annual review of minimum revenue target.

performance testing, the Compensation & Human Capital Committee reduced certain targets, determining the targets set at the beginning of 2022 to be inappropriate in the Committee’s judgment due to certain non-recurring changes to our business during the year including the move to a licensing model of certain of our operations, certain accounting treatment and other projections made when goals were set that changed during the year, and a one time adverse foreign exchange impact in our Live Event segment.

Once funding is established based on achievement of the financial performance and strategic factorsobjectives described above, a participant is entitled to participate if his or her individual performance rating for the year is at or above a threshold. The aggregate amount of funding does not increase based upon individual payouts, with the result that the aggregate payout to all participants must be less than or equal to the established funding. Actual payouts are based on an individual’s target, which is a percentage of his or her salary at the end of 20172022 (this percentage is established based on the executive’s title/position) multiplied by the MIP funding percentage for the Company as a whole with a possible multiplier for exceptional performance, in each case subject to the exercise of negative discretion by the Compensation & Human Capital Committee. The use of negative discretion to one executive will not necessarily result in an increased bonus to another executive. The overall MIP funding for the Company, and the overall payment to any individual, will not exceed 200% of target. In addition to the 200% ofindividual’s target cap, maximum payments under the MIP are capped at $5 million to any named executive officer.opportunity. The Committee also retains discretion to pay amounts outside of the plan but has rarely exercised this discretion in the pasthistorically and did not do so in respect of 2017.2022.

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Performance Stock Units (“PSUs”)Units..Our compensation program includes a longer-term component consisting of stock unit grants. Consistent with past practice, our normal 2022 annual grantgrants of stock units in 2017 had a performance requirement under the 2016 Omnibus Incentive Plan featured performance-based goals as well as service-based vesting requirements which extend beyond the performance period. This structure reinforces our pay for performance philosophy. There isphilosophy by aligning compensation with long-term shareholder value creation while also a service-based vesting requirement which extends beyond the performance period.incentivizing retention of key employees. The performance targets for our PSUs granted in 2022 mirror those set for the MIP described above. ForThe PSUs, to the 2017 grants if at least one of the three threshold performance criteria - strategic score goal coupled with a minimum net revenue test, total revenues or OIBDA - were satisfied at the threshold level or above, the PSUs would begin to accrue dividends andextent earned, vest in three equal annual installments, with the first vesting occurring on or about July 20, 2018.2023. The number of PSUs haveearned is determined based on a sliding scale of 10% of the target number of units for a singlegranted if the strategic objectives factor described above is achieved at no less than threshold performance test met at threshold up to a maximum cap of 200% of the target number of units if all three performance criteria are achieved at the


maximum level. We believe this cap appropriately mitigates the potential risk that accompanies performance-based equity compensation. As referenced above under the description of our MIP, management achieved a level of 120%124% of overall target and this is the percentage of PSUs that were earned, subject to continued service vesting.

We expect to continue to make annual grants of PSUs forequity to our senior executives. Beginning with grants in 2023, PSUs will have performance measured over a three-year performance period with different performance metrics from the one-year MIP. By measuring performance over a three-year period, we will continue to be able to focus effectively on the achievement of significant and sustained improvements in performance and strategic initiatives over the long term. Our transition to a three-year long-term incentive program that will pay out in a cliff at the end of such period will effectively decrease the amount of PSUs eligible to vest on an annual basis. Restricted stock units with various vesting periods have been granted to fill this shortfall and to replace a portion of the normal PSU grant. The Committee closely monitors share usage through the approval of an annual share budget or “pool” that management may use. From this pool, management proposes individual grants at a separate meeting of the Compensation & Human Capital Committee and these individual grants are reviewed and approved by the Committee. The awards (assuming we meet performance criteria) are subject to service vesting, generally in equal annual installments over three years in July beginning the year after the year in which the grant was made (and performance measures met). We do not plan grants or vesting dates of stock units around material news releases in order to provide any special benefits to our employees.

We believe that equity compensation for executive officers is different from salary and short-term cash incentives in that, due to its performance and time-vesting requirements, stock units serve both a retention and incentive purpose. Equity compensation (particularly where it has both performance and time-vesting requirements) aligns interests of management with stockholders. We also hope that stock units, together with our 401(k) Plan, will be utilized by employees for retirement planning, as we do not provide a defined benefits retirement plan.

The following table shows the aggregate number of stock units granted to all eligible employees (executive(named executive officers and all others) as part of our normal annual grant for the past several years. The table also shows the actual number of stock units earned based on performance achieved for each relevant performance period. The table does not include special grants for new hires/promotions:promotions/retention, such as those granted in 2022 to our executive new hires or the sign-on grants to Mr. Khan, as shown in the Grants of Plan-Based Awards table below.

          Aggregate target stock     
units in AnnualAggregate actual stock
Aggregate target stock units in AnnualGrant (adjusted to reflectunits earned in
Calendar YearGrant (unadjusted)forfeitures)respect of such year
20151,210,6061,157,0561,783,400
20161,155,4471,089,1591,371,821
2017   843,619778,460880,246
Calendar Year Aggregate target stock units in Annual
Grant (unadjusted)
 Aggregate target stock
units in Annual
Grant (adjusted to reflect
forfeitures)
 Aggregate actual
stock units earned in
respect of such year
2020  411,908   360,325   284,436 
2021  460,014   327,632   446,663 
2022  718,646   453,551   521,333 
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Other Compensation Matters

Employment Agreements and Other Agreements.Severance Matters. We have an amended and restated employment agreement with our Chairman and Chief Executive Officer, Vincent K. McMahon,As described in detail under which we pay him an annual salary of $1,400,000 in respect of 2018 and he is entitled to participate in our Management Incentive Plan with a target bonus of 100% of base salary. See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table.”

WhileTable” below, we generally attempt to avoid enteringhave entered into employment agreements with our other executives, we have individual severance arrangements with many of our executive officers including our named executive officers, which provideofficers. Some of these agreements provided for a specified period ofinitial compensation, as well as provisions relating to severance in the event of an involuntary termination of employment, without cause.including termination following a change in control. The Company also has a severance planCommittee carefully considers terms in agreements when they are entered into, and believes the agreements we have in place are appropriate for all eligible employees (generally full-time employees and part-time employees who regularly work in excess of 30-hour weeks and, in either case, have at least one year of employment with the Company) which provides for severanceour executives, are in the caserange of involuntary termination of employment without cause, ranging, depending on length of service, from a minimum of four weeks to a maximum of one year. The employee is also entitled to a prorated bonus for the year of termination (assumingmarket practice, and protect the Company meets its performance tests), at rates to be determined, if


hisby ensuring executives are focused on their jobs. As described below, during 2022, we entered into new agreements, or her termination occurs after July 1 of the year. Employee health insurance is also provided during the severance period. The Company believes that these severance arrangements are important for the Company to attractamended and retain high caliber employees.

Since he joined the Company as a performer in 1995, Mr. Levesque has been party to a booking agreementrestated agreements, with the Company under which he is onesome of our top talent.executives due to the changes in management, based on the needs at the applicable time.

Stock Ownership Guidelines & Holding RequirementsRequirements..We believe that it is in the best interests of our stockholders for management and directors to own a significant amount of our Common Stock. We have stock ownership guidelines for our Directors and our executive officers with a title of Executive Vice President or higher. Under the guidelines, the individual must attain the following multiple of base salary (or annual cash retainer, in the case of Directors):

Title Multiple
Chairman and Chief Executive Officer6x
Director5x
EVP2x

Valuations of ownership are made at the beginning of each year based on the average of the prior calendar year’s month-end closing stock prices. Until the required multiple of ownership is attained, 50% of the after-tax shares received upon the vesting of performance and restricted stock units must be held by the individual. For these purposes, performance units for which the performance test has been met, but which have not yet vested, count toward the ownership goal. Once the respective multiple is attained, so long as none of the shares required for such attainment are disposed, the obligation remains met despite any subsequent decline in stock price.

Anti-Hedging PolicyPolicy::Under “Hedging” refers to instruments or transactions that have the Dodd-Frank Wall Street Reformeffect of protecting an executive or director from the economic risk of a decline in our stock price and Consumer Protection Act (the “Dodd-Frank Act”),is often viewed as changing the SEC is required to promulgate disclosure rules relating to hedging practices in Company securities granted as compensation by insiders.alignment of long-term interests between management and stockholders. The Company does not believe that hedging to reduce investment riskand/or pledging of owningCompany stock has created any disconnect in the alignment of the interests of our directors and executive officers with those of our stockholders. Any transaction that would result in profit if the price of the Company’s securities declines is prohibited by Company policy. While other hedging of WWE stock is strongly discouraged and any hedging transaction by an executive officer or director of the Company would be closely reviewed by the Company, we have not made a blanket prohibition against them for any of our employees. Pledging Company securities is an issue amongalso discouraged and senior executives may not purchase securities of the Company on margin. The Company plans to continue to monitor the situation and may act if it perceives any such activities by its directors or executive officers and to the Company’s knowledge, none of itsor directors or named executive officers has engaged in such hedging or pledging of his or her Company securities. Ashave a result,negative impact on the Company has decided to await the adoption of these rules by the SEC prior to formulating an anti-hedging policy.or its securities.

Clawbacks.The Company has not been faced witha policy administered by the situation of, and has no formal policies governing what would happenCompensation & Human Capital Committee allowing, in the event of aany restatement or adjustment of financial statements, on which prior bonusesa claw back of any compensation paid or stock performance decisionsawarded in excess of what would have been made. However,paid or awarded in the NYSE is expected to revise its listing standards in accordance with the Dodd-Frank Act toabsence of such misstatement. This policy does not require listed issuers to adopt and disclose clawback policies. Under such policies, an accounting restatement due to material noncompliance with any financial reporting requirements under the securities laws would trigger a clawback. The Company will be required to recover any erroneously awarded compensation payments that would not have been made had the restated accounting numbers been used. Payments made to current or former executive officers during the three-year period preceding the date of a restatement will be subject to this policy. Our existing incentive compensation plans will be reviewed and updated for consistency with the final clawback rules when they are adoptedwrongdoing by the SEC.

Tax Considerations. Section 162(m) of the Internal Revenue Code historically disallowed a tax deductionparty involved, and is in addition to publicly held corporations for annual compensation over $1 million paidany other available clawbacks required by law or otherwise. Specific clawbacks are also included in most special equity grants to certain executives of that corporation unless it was paid based on the attainment of pre-established, objective performance goals established under a stockholder-approved plan. The Compensation Committee has used, where practical, compensation policies and programs intended to preserve the tax deductibility ofour executive compensation; however, the recent Tax Cuts and Jobs Act eliminated this performance exception beginning in 2018.officers.


 22

Tally SheetsSheets; Benchmarking..Tally sheets are provided to the Compensation & Human Capital Committee annually to supplement its review of aggregate compensation for each executive officerSenior Executive in connection with setting salary and granting performance-based incentive compensation and longer-term equity incentive compensation for the year. Totalcompensation. Compensation is reviewed annually vis-à-vis market data consisting of a media and entertainment industry-specific index and data from an industry-specific (media and live event/experience) peer group. Named executive officer compensation is reviewed from time to time vis-à-vis broad-based published market data to determine whether the compensation paid to our executives is generally competitive relativetargeted to the market. It should be noted thatsecond quartile of this marketdata. The data used by the Compensation & Human Capital Committee and its Compensation Consultant is not obtained from a specified peer group but rather is a combination of both general industry and industry-specific (media) information. It(i) the S&P United States BMI Media & Entertainment Index, which is not the same as either of the groupsindex used for comparison in the Cumulative Total Return Chart included in the Company’s Annual Report on Form 10-K. Given10-K, and the challenges associated with benchmarking our compensation against direct competitors, we do not attempt to maintain an established target percentile compensation level within a designatedfollowing custom peer group.group:

CompanyTicker
IAC Inc.IAC
Take-Two Interactive Software, Inc.TTWO
Lions Gate Entertainment Corp.LGF.A
TEGNA Inc.TGNA
AMC Networks Inc.AMCX
Roku, Inc.ROKU
Gray Television, Inc.GTN
The E.W. Scripps CompanySSP
Angi Inc.ANGI
Madison Square Garden Entertainment Corp.MSGE
Cable One, Inc.CABO
Six Flags Entertainment Corporation.SIX
Tripadvisor, Inc.TRIP
Yelp Inc.YELP
Entravision Communications Corporation.EVC
Madison Square Garden Sports Corp.MSGS

Management’s Role in the Compensation-Setting ProcessProcess.. The Chairman and Chief Executive Officer and the Human Resources Department annually review the performance of each executive officer shortly after the financial results for a fiscal year are known. The conclusions and recommendations resulting from this review, including proposed salary, bonuses and equity-based grants, to Senior Executives are presented to the Compensation & Human Capital Committee for its final approval.

Role of Compensation Consultant and Use of Market DataData.. During 2017,2022, the Committee consulted with the Compensation Consultant who iswas paid by the Company and hashad access to management, but ismanagement. The Compensation Consultant was hired by and reportsreported directly to the Compensation & Human Capital Committee. To date, design aspects of compensation have been proposed by management, with the Compensation Consultant advising on the appropriateness of the design and market competitive levels of compensation. The Compensation & Human Capital Committee, however, doesdid not specify limits either on the scope of the Compensation Consultant’s inquiry or on areas on which the Compensation Consultant iswas allowed to comment, other than to prohibit the Compensation Consultant from undertaking work on behalf of management without the Committee’s consent. The Compensation Consultant has never provided consulting services to the Company other than for executive and Director compensation.compensation and related disclosure. The Committee annuallyregularly reviews the Compensation Consultant’s independence (most recently in February 2018) and has affirmatively determined that no conflicts of interest exist.exist or existed.

 23

20172022 Say-on-Pay Advisory Vote OutcomeOutcome..The Compensation & Human Capital Committee considered the results of the 20172022 advisory, non-binding vote to approve executive compensation in connection with the discharge of its responsibilities. In excess of 99%95% of the vote of our shareholders in 20172022 was in favor of the compensation of our named executive officers, a result we feel affirms our pay practices, and no changes were made as a result no changes were made.of such vote.

Conclusion

The Compensation & Human Capital Committee of the Board understands its responsibility for evaluating and approving the Company’s compensation programs, including reviewing and approving the Company’s compensation philosophy as well as corporate goals and objectives relative to incentive compensation, evaluating performance in light of those goals and determining compensation levels based on this evaluation. Management and, in particular, the Chairman and Chief Executive Officer and Human Resources Department, are instrumental in developing recommendations relating to the compensation program, subject to final approval by the Compensation & Human Capital Committee. The Compensation & Human Capital Committee iswas assisted in this regard in respect of 2022 by its independent Compensation Consultant.

We believe that we have an appropriate mix of compensation components along with competitive compensation levels that incentivize management and serve our attraction, retention and motivation goals while remaining fiscally prudent and not encouraging excessive risks. We believe management compensation closely aligns them with shareholder interests and we believe the Company’s strong financial performance over the past several years underscores the effectiveness of our compensation program. Going forward, while we may adjust certain aspects of the compensation program – including our transition to a three-year performance period for our equity incentive compensation, as noted above – we believe that it is fundamentally sound and abides by a strong pay for performance philosophyphilosophy.


Compensation & Human Capital Committee Report

Notwithstanding anything to the contrary set forth in any of our previous filings under the Securities Act of 1933, as amended, or the Exchange Act that might incorporate future filings, in whole or in part, including our Annual Report on Form 10-K for the year ended December 31, 20172022 and the Company’s currently effective Registration Statements on Form S-8, the following Report, and the Audit Committee Report set forth under Proposal 2—Ratification of Selection of Independent Registered Public Accounting Firm, shall not be incorporated by reference into any such filings.

The Compensation & Human Capital Committee of the Company has reviewed and discussed the Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K with management and, based on such review and discussions, the Compensation & Human Capital Committee recommended to the Board that the Compensation Discussion and Analysis be included in this Proxy Statement.

The Compensation & Human Capital Committee
Frank A. Riddick, III,Steve Koonin, Chair
Laureen OngMichelle D. Wilson
 24
Jeffrey R. Speed

Summary Compensation Table

The following table sets forth certain information about the compensation of each person who served as our Principal Executive Officer during any portion of fiscal 2022, our Principal Financial Officerprincipal financial officer and our three next most highly compensated executive officers who were serving as executive officers at December 31, 2017.2022. As stated above, these individuals are our “named executive officers.”

Non-Equity
StockIncentive PlanAll Other
SalaryBonusAwardsCompensation CompensationTotal
Name and Principal Position (a)     Year (b)     ($)(c)     ($)(d)     ($)(e)     ($)(g)     ($)(i)(1)     ($)(j)
Vincent K. McMahon20171,388,46200   1,680,000     19,075  3,087,537
Chairman & Chief Executive Officer20161,313,462001,739,06319,0753,071,600
20151,239,923002,050,00019,0753,308,998
 
George A. Barrios2017780,5700683,940(2)470,1069,1921,943,808
Co-President (Principal Financial Officer)2016758,80003,009,579523,03719,6404,311,056
2015723,69203,099,994662,0009,1924,494,878
 
Michelle D. Wilson2017788,0760690,742(2)474,6279,1921,962,637
Co-President2016766,09603,014,478527,8519,1924,317,617
2015729,61503,099,994669,0009,1924,507,801
 
Paul Levesque2017643,2880696,788(2)390,0001,493,640(3)3,223,716
EVP, Talent, Live Events & Creative2016601,9330499,992419,5312,471,961(3)3,993,417
2015573,2690299,995526,0001,713,360(3)3,112,624
 
Kevin Dunn2017909,5600840,801(2)545,73610,2722,306,369
Executive Producer2016902,89703,106,366618,11710,2724,637,652
2015859,90403,099,994788,00010,2724,758,170
Name and Principal Position (a) Year (b) Salary
($)(c)
 Bonus
($)(d)
 Stock
Awards
($)(e)(1)
 

Non-Equity
Incentive Plan
Compensation
($)(g)

 All Other
Compensation
($)(i)
 Total
($)(j)
Vincent K. McMahon 2022 1,006,923(2)0 11,267,050(3)  0  139,860(4) 12,413,833
Executive Chairman 2021 1,400,000 0 1,671,260   1,960,000  20,287(5) 5,051,547
  2020 1,394,615 0 1,636,594   854,000  20,583(5) 3,905,792
Nick Khan 2022 1,266,923 0 21,096,312(6)  2,499,949  10,422(5) 24,873,606
Chief Executive Officer 2021 1,200,000 0 1,814,470   2,660,000  32,401(5) 5,706,871
  2020 498,462(6)0 6,799,138(6)  471,823(6) 5,195,142(7) 12,964,565
Stephanie McMahon 2022 1,006,615(8)0 12,361,738(9)  0  915,173(10) 14,283,526
Former Co-Chief Executive Officer 2021 730,000 0 583,523   511,000  767,682  2,592,205
  2020 724,115 0 464,778   22,650  775,723  2,187,266
Paul Levesque 2022 805,846 0 8,963,822(11)  748,858  1,096,302(10) 11,614,829
Chief Content Officer 2021 730,000 0 583,523   511,000  1,017,021  2,841,544
  2020 724,115 0 464,778   222,650  906,757  2,318,280
Frank A Riddick, III 2022 894,615 0 879,432   1,065,899  354,986  3,194,932
President & Chief Financial Officer 2021 134,038(12)0 5,189,329(12)(13)  130,085(12) 1,183,105(14) 6,636,557
  2020 782,667(15)0 53,842(16)  0  173,210(17) 1,009,719
Kevin Dunn 2022 1,100,000 0 11,637,454(18)  1,364,000  13,176(5) 14,114,630
Executive Producer & Chief Global Television Production                  
Suzette Ramirez-Carr 2022 490,769(19)0 499,994(20)  304,183(19) 873,072(21) 2,168,018
EVP, Chief Human Resources Office                  

____________________

(1)

Consists of matching contributions under our 401(k) plan and certain life insurance payments.

(2)

Represents the aggregate grant date fair value of awards of performance stock units and restricted stock units pursuant to our 2016 Omnibus Incentive Plan consistent with the estimate of aggregate compensation cost to be recognized over the service period determined as of the grant date under FASB ASC Topic 718, excluding the effect of estimated forfeitures. For additional disclosure on assumptions made in the valuation of our performance stock units awards, see “Note 18 – Stock-based Compensation” to our Consolidated Financial Statements. For these purposes, performance stock units are assumed to have been granted in amounts that would occur if the Company had met all performance criteria at 100% of target. Assuming hypothetically that the highest level of performance conditions for these performance stock units (other than the Special Grants which are described in footnotes 6, 9 and 11) had been achieved, the number of such performance stock units would have been 200% of the numbers included in the table which for 20172022 would result in maximum grant date values of $1,367,880$22,534,100 for Mr. Barrios; $1,381,484McMahon; $7,397,530 for Ms. Wilson; $1,393,576Mr. Khan; $1,057,399 for Mr. Levesque; $3,635,626 for Ms. McMahon; $1,758,864 for Mr. Riddick; and $1,681,602$2,789,340 for Mr. Dunn. For disclosure on assumptions made in the valuation of these awards, see “Note 17 – Stock-based Compensation” to our Consolidated Financial Statements. For 2017,2022, the Company achieved 94% of its Strategic Objectives factor, 112% of its OIBDA funding factor and 170% of its Revenue funding factor. Accordingly, 120%124% of the target number of these performance stock units, were earned, subject to vesting in three annual installments beginning July 2018. To the named executive officers, this totaled as follows: for Mr. Barrios 42,349 shares; for Ms. Wilson 42,770 shares; for Mr. Levesque 43,145 shares; and for Mr. Dunn 52,062 shares.

 25

July 2023. The actual results for these performance stock units as follows: Mr. McMahon 0 shares; Mr. Khan 88,696 shares; Mr. Levesque 12,678 shares; Ms. McMahon 0 shares; Mr. Riddick 21,089 shares; and Mr. Dunn 33,444 shares.

(2)
Mr. McMahon resigned as Chairman and Chief Executive Officer on July 22, 2022. He remained a stockholder with a controlling interest and rejoined the Company as Executive Chairman in January 2023.
(3)

All of these shares were forfeited upon Mr. McMahon’s resignation.

(4)

Consists principally of accrued vacation pay.
(5)Consists of matching contributions under our 401(k) plan and certain life insurance payments.
(6)Mr. Khan joined the Company in August 2020 and his salary, normal performance feesstock units and royalties paidMIP bonus were prorated for 2020. Under his amended employment agreement, Mr. Khan received performance stock units described in footnote 1 above as well as a special sign-on inducement grant of performance units (the “Special Grants”) as follows: (x) $6 million of such units at his start date in 2020 (“Tranche 1”); and (y) an additional $16.5 million on or about October 1, 2022 (“Tranche 2”), in each case valued at a 30-day trading average stock price ending on or about the date of the grant. The Special Grants have different performance measures from the normal annual grant of performance units described in footnote 1. These Special Grants, to the extent they meet their performance measures, vest at the end of their respective performance measurement periods. The performance measurement period for Tranche 1 ended September 30, 2022, and 27,944 shares vested. The performance measurement period for Tranche 2 ends September 30, 2025. In the above table, the Special Grants are valued at 100% of target and are reflected in year 2020 (Tranche 1) and 2022 (Tranche 2). Assuming hypothetically that the highest level of performance conditions for the Special Grants were achieved, the performance units would be at 300% of target which, together with the normal performance units granted to Mr. Levesque as oneKhan at their maximum level of performance (200%), would result in a grant date value of $19,620,980 in 2020 and $59,590,170 in 2022. See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table”.
(7)Consists principally of a $5.0 million sign on bonus, which is subject to certain repayment obligations if Mr. Khan voluntarily leaves the Company’s top talent.Company without good reason or is terminated for cause before August 3, 2023. Also includes certain relocation reimbursement, 401(k) plan and life insurance payments. See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table – Employment and Booking Agreements.”

Agreements”.
(8)Ms. McMahon resigned January 10, 2023.
(9)Ms. McMahon received a one-time Special Grant of performance stock units under the Incentive Plan with a grant date target of $10 million effective October 3, 2022 (valued at a 30-day trading average stock price ending on or about the date of grant). This Special Grant had a three-year performance measurement period and would have vested, to the extent it met its performance measures, on or about September 30, 2025. In the above table, the Special Grant is valued at 100% of target. Assuming hypothetically that the highest level of performance conditions for the Special Grant were achieved, the performance units would be at 300% of target which, together with the normal performance units granted to Ms. McMahon at their maximum level of performance (200%), would result in a grant date value of $35,267,399. All of these shares were forfeited upon Ms. McMahon’s resignation.

 26
(10)Consists principally of performance fees, royalties and related minimum guarantees (which amounted to $807,595 and $717,253 for Mr. Levesque and Ms. McMahon, respectively, in 2022) . See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table – Employment and Booking Agreements”. Includes matching contributions under our 401(k) plan and certain life insurance payments.
(11)Mr. Levesque received a one-time Special Grant of performance stock units under the Incentive Plan with a grant date target of $8 million effective October 3, 2022 (valued at a 30-day trading average stock price ending on or about the date of grant). This Special Grant has a three-year performance measurement period and will vest, to the extent it meets its performance measures, on or about September 30, 2025. In the above table, the Special Grant is valued at 100% of target. Assuming hypothetically that the highest level of performance conditions for the Special Grant were achieved, the performance units would be at 300% of target which, together with the normal performance units granted to Mr. Levesque at their maximum level of performance (200%) would result in a grant date value of $25,927,644.
(12)Mr. Riddick joined our Company as an employee in November 2021 and his salary, normal performance stock units and MIP bonus were prorated for 2021.
(13)Consists principally of a sign-on Special Grant of restricted stock units valued at $5.0 million vesting over four years which began in June 2022. Includes quarterly stock awards paid as part of independent Directors’ fees for the period Mr. Riddick was an independent Director (prior to his employment by the Company beginning November 2021).
(14)Consists principally of a one-time $1 million cash sign-on bonus payment, which is subject to certain repayment obligations if Mr. Riddick voluntarily leaves the Company without good reason or is terminated for cause. Also includes independent Directors’ cash fees while he was independent. Also includes certain relocation reimbursement, 401(k) plan and life insurance payments. See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table – Employment and Booking Agreements”.
(15)Mr. Riddick served as our Interim Chief Financial Officer for the period February until August 2020.
(16)Includes quarterly stock awards paid as part of independent Directors’ fees during periods in which Mr. Riddick was an independent Director.
(17)Includes independent Directors’ cash fees while he was independent and $106,907 of housing paid for Mr. Riddick while he was acting as WWE’s Interim Chief Financial Officer.
(18)Consists principally of a one-time grant of restricted stock awards which vest in equal installments which began July 2022.
(19)Ms. Ramirez-Carr joined our Company in April 2022 and her salary and MIP bonus were prorated for 2022.
(20)Consists of a sign-on grant of restricted stock units which vest in three equal installments beginning July 2023.
(21)Consists principally of a sign-on bonus in the amount of $650,000 which is subject to certain repayment obligations if Ms. Ramirez-Carr voluntarily leaves the Company or is terminated for cause.
 27

Grants of Plan-Based Awards for 20172022

Name (a) Grant
Date (b)
 Estimated Possible Payouts Under
Non-Equity Incentive Plan Awards(1)
 
Estimated Possible Payouts Under
Equity Incentive Plan Awards(2)
 All
Other
Share
Awards
 Grant Date
Fair Value
of Stock(3)
 
 Threshold
($)(c)
 Target
($)(d)
 Maximum
($)(e)
 Threshold
(#)(f)
 Target
(#)(g)
 Maximum
(#)(h)
 (#)(i) ($)(j) 
Grant Date                   
Vincent K. McMahon (4) 3/9/22 433,918 4,339,178 8,678,356 19,931 199,311 398,622 0 11,267,050 
Nick Khan 2/4/22 201,609 2,016,087 4,032,175 7,153 71,529 143,058 0 3,698,765 
Estimated Possible Payouts UnderEstimated Possible Payouts UnderFair Value 10/3/22    0 241,264(5) 723,792 0 17,397,547 
Stephanie McMahon (6) 2/4/22 116,660 1,116,603 2,333,205 3,515 35,154 70,308 0 1,817,813 
Non-Equity Incentive Plan Awards(1)Equity Incentive Plan Awards(2)of Stock 10/3/22    0 146,220(5) 438,660 0 10,543,924 
Paul Levesque 2/4/22 60,392 603,918 1,207,836 1,022 10,224 20,448 0 528,683 
     Grant Date     Threshold     Target     Maximum     Threshold     Target     Maximum     Awards(3) 10/3/22    0 116,979(5) 350,937 0 8,435,356 
Name (a)(b)($)(c)($)(d)($)(e)(#)(f)(#)(g)(#)(h)($)(l)
Vincent K. McMahon2/10/17  140,000  1,400,0002,800,000   0   0  0    0  
George A. Barrios2/10/1739,176391,755783,5103,52935,29170,582683,940
Michelle D. Wilson2/10/1739,552395,522791,0443,56435,64271,284690,742
Paul Levesque2/10/1732,500325,000650,0003,59535,95471,908696,788
Frank A. Riddick, III 2/4/22 85,960 859,596 1,719,192 1,701 17,007 34,814 0 879,432 
Kevin Dunn2/10/1745,478454,780909,5604,33843,38586,770840,801 2/4/22 110,000 1,100,000 2,200,000 2,697 26,971 55,942 0 1,394,670 
 3/9/22       181,192(7)10,242,784 
Suzette Ramirez-Carr 4/28/22 24,531 245,308 490,616    8,563(8)499,994 

____________________

(1)

The amounts shown in column (c) reflect the generally applicable minimum payment level under the Company’s 20172022 management incentive plan administered under the 2016 Omnibus Incentive Plan which is 50% of 20% (which equals 10%) of the target amount shown in column (d). This assumes the threshold of the revenue teststrategic objectives funding factor is met and the other two performance measures are below thresholds. Actual minimums could be lower due to a restricted bonus pool available to the Company as a whole or due to the exercise of negative discretion. The amount shown in column (e) is 200% of the individual’s target, which was the maximum payment under the bonus plan.

Actual payments are included in column (g) of “Summary Compensation Table”.

(2)

TheExcept for the Special Grants of restricted stock described in footnote 5 below, the amounts shown in column (f) reflect the number of performance stock units that would be earned (subject to vesting) ifassuming the Company had met the threshold level of the revenue teststrategic objectives funding factor and in each case, performed below its minimum for the other two performance measures in 2017are below thresholds which would result in a minimum performance level equal to 50% of 20% (which equals 10%) of the target number of stock units shown in column (g). If the Company exceeds these thresholds, there is an increase to 100% of the target stock units at 100% attainment of all three funding factor targets, which is reflected in column (g). Above those targets, the stock units increase up to a maximum possible grant under the plan of 200% of target stock units. This maximum number is shown in column (h). For 2017,2022, the Company achieved 94% of its Strategic Objectives factor, 112% of its OIBDA funding factor and 170% of its Revenue funding factor. Accordingly, 120%124% of the target number of these performance stock units, were earned, subject to vesting in three annual installments beginning July 2018. To the2023. For these named executive officers, this totaledthe actual results for these performance stock units were as follows: for Mr. Barrios 42,349McMahon 0 shares; for Ms. Wilson 42,770Mr. Khan 88,696 shares; for Mr. Levesque 43,14512,678 shares; Ms. McMahon 0 shares; Mr. Riddick 21,089 shares; and for Mr. Dunn 52,06233,444 shares.

(3)

Reflects the full grant date fair value under FASB ASC Topic 718 of grants of stock units and is based upon the probable outcome of such conditions on the date of grant.grant (which is the target number). The amounts are consistent with the estimate of aggregate compensation cost to be recognized over the service period determined as of the grant date under FASB ASC Topic 718, excluding the effect of estimated forfeitures, and correspond with the 20172022 stock award values in the Summary Compensation Table. See “Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table” for more information about our restricted and performance stock units. For additional disclosure on assumptions made in the valuation of these awards, see “Note 1718 – Stock-based Compensation” to our Consolidated Financial Statements.


 28
(4)Mr. McMahon resigned on July 22, 2022, but remained a stockholder with a controlling interest. These shares were forfeited on his resignation. He rejoined the Company as Executive Chairman in January 2023.
(5)Includes Special Grants to Messrs. Khan and Levesque and Ms. McMahon described in footnotes 6, 9 and 11 to the summary compensation table.
(6)Ms. McMahon resigned effective January 10, 2023, and all shares granted to her noted in this table were forfeited.
(7)Consists of restricted stock units that vest in five equal annual tranches on the 1st day of July, with the first tranche vesting in 2022.
(8)Consists of restricted stock units that vest in three equal annual tranches on the 20th of July, with the first tranche vesting in 2023.

Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table

The Summary Compensation Table and Grants of Plan-Based Awards Table above provide certain information regarding compensation of our named executive officers. This narrative provides additional explanatory information regarding compensation of our named executive officers and should be read in conjunction with those tables.

Employment and Booking AgreementsAgreements.

. Vincent K. McMahon.McMahon. Mr. McMahon entered into an employment agreement with the Company, effective as of March 29, 2023 (the “McMahon Employment Agreement”), pursuant to which, retroactive to January 9, 2023, he will continue to serve as Executive Chairman for a term of two years from his start date of January 9, 2023, subject to automatic extension for additional one-year terms thereafter unless either the Company or Mr. McMahon provides at least 180 days’ notice of non-renewal. The McMahon Employment Agreement provides that Mr. McMahon will receive (i) an annual base salary of $1.2 million, (ii) an annual target bonus opportunity (as a percentage of annual base salary) of 175% and (iii) an annual equity grant date target value set at $4.3 million, subject to performance metrics and vesting periods (as determined by the Committee). In the event the Company terminates his employment without cause or he terminates his employment for good reason (as those terms are defined in the McMahon Employment Agreement), Mr. McMahon will be eligible to receive as severance (a) base salary continuation through the end of the term (or, if longer, for one year), (b) a prorated portion of the annual bonus based on target performance for the year in which the termination occurs and (c) health and welfare continuation through the end of the term in accordance with the Company’s severance policy. In the event such a termination occurs within the two-year period following a change in control (as defined in the McMahon Employment Agreement), Mr. McMahon will instead be eligible to receive (a) a lump sum cash payment equal to two times Mr. McMahon’s then-current base salary, (b) as lump sum cash payment equal to two times Mr. McMahon’s annual bonus based on target performance, (c) a prorated portion of the annual bonus based on target performance for the year in which the termination occurs, (d) full accelerated vesting of Mr. McMahon’s unvested equity awards (with the payout of performance-based awards determined based on target-level achievement) and (e) health and welfare continuation for the twenty-four month period following the termination.

Nick Khan. We have an amended and restated employment agreement, as amended, with Mr. McMahon. ThisKhan under which he serves as our Chief Executive Officer. The employment agreement provides for a current annual base salary of $1,500,000, and eligibility to participate in the Company’s Incentive Plan with a current targeted annual incentive award of 175% of his salary. In 2020, in connection with his initial employment with us, Mr. Khan received a sign-on bonus of $5,000,000, which remains subject to partial repayment requirements if he voluntarily leaves the Company without good reason or is terminated for cause prior to August 5, 2023. Under his agreement, Mr. Khan has received sign-on grants of PSUs valued at an aggregate of $22,500,000, 40% of which was granted in 2020 and vested (in an amount based on performance) in September 2022,

 29

and 60% of which was granted in 2022 and, subject to meeting performance requirements, would vest in September 2025. The employment agreement provides that he participates in the Company’s performance stock program under the Incentive Plan with a targeted annual award, beginning in 2023, of $5.375 million. If Mr. Khan is terminated by the Company without cause prior to the fifth anniversary of his employment start date, he would be entitled to receive his then-current base salary for the remainder of the agreement’s five-year term and a prorated portion of his incentive bonus for the year in which the termination occurs. In the event that, within two years following a Change in Control, as defined in the agreement, Mr. Khan’s employment is terminated by the Company without cause or by Mr. Khan with good reason, as defined, he is entitled to receive (i) two times his annual base salary; (ii) two times his target bonus; (iii) a bonus based on actual performance prorated for the portion of the year in which the termination occurs; (iv) vesting of all equity awards including, without limitation, special awards at the performance level, if the performance period has run, or otherwise at target; and (v) continued health benefits for 24 months.

Stephanie McMahon. The Company entered into an employment agreement with Ms. McMahon shortly before her resignation which resulted in its cancellation, and all payments thereunder (other than normal salary, for the period January 1, 2023 – January 10, 2023, the date of her resignation) is reflected in the Summary Compensation Table. We have a booking agreement with Ms. McMahon which currently has a term ending December 31, 2018, but automaticallyruns until October 6, 2023, and thereafter extends for successive one-year periods unless either party gives notice of nonextension at least 18090 days prior to the expiration date. Under his employmentthis agreement, Mr.Ms. McMahon is entitled to a minimum guaranteed annual payment of $750,000 which the Company is entitled to recoup from all payments under the agreement including pay for performing in live and televised events and royalties for merchandise sold including Ms. McMahon’s name and/or likeness.

Paul Levesque. The Company entered into an employment agreement effective December 20, 2022, with our Chief Content Officer, Paul Levesque, pursuant to which he receives an annual salary of $900,000 and is eligible to participate in the initialIncentive Plan with a targeted annual bonus of 100% of his salary. Mr. Levesque received a one-time special equity grant of PSUs with a grant date target value of $8 million with a three-year performance measurement period ending on or about September 30, 2025, with immediate vesting on that date in an amount of $1,100,000, subject to increase in the discretion of the Compensation Committee (the Compensation Committee increased Mr. McMahon’s salary most recently to $1,400,000 in respect of 2018), andbased on performance. He is entitledeligible to participate in the Company’s incentive bonus planstock program under the Incentive Plan with ana target annual target bonusequity award starting in 2023 of 100% of salary.

In$1.6 million. If Mr. Levesque is terminated by the Company without cause, he is entitled to the Company’s normal severance policy described below. in the event we terminate Mr. McMahon’s employment other than for cause (asthat, within two years following a Change in Control, as defined in histhe agreement, Mr. Levesque’s employment agreement)is terminated by the Company without cause or ifby Mr. McMahon terminates his employment forLevesque with good reason, (as defined) within the two-year period followingas defined, he shall receive (i) one and a change in control (as defined), we are obligated to pay to Mr. McMahon compensation and benefits that are accrued but unpaid as of the date of termination, plus a payment equal to twohalf times his annual base salarysalary; (ii) one and assuminga half times his target bonus; (iii) a bonus based on actual performance prorated for the Company meets its minimum (threshold) performance targets forportion of the year in which the termination occurs, two times his target bonusoccurs; (iv) vesting of all equity grants including, without limitation, special grants, at the performance level, if the performance period has run, or otherwise at target; and (v) continued health benefits for that year. Payment of severance is conditioned on Mr. McMahon’s release of any claims against the Company and its affiliates. Mr. McMahon will also continue his health, accident, and life insurance benefit plan participation for a two-year period following such termination, unless he obtains substantially similar coverage with a new employer. The Company does not provide Mr. McMahon a tax gross up. Under his employment agreement, if any severance pay or benefits would constitute a “parachute payment,” the Company would reduce such payments to Mr. McMahon to the extent required so that they do not subject Mr. McMahon to excise taxes and such payments shall be deductible by the Company, unless the full parachute payments would result in a greater net benefit to Mr. McMahon after he pays all related excise taxes.

If Mr. McMahon dies or becomes disabled (as defined in the agreement) during the term of his agreement, or if we terminate Mr. McMahon’s employment for cause or if he resigns other than for good reason following a change in control, we are obligated to pay him (or his estate, as applicable) compensation and benefits accrued but unpaid as of the date of termination. The agreement also contains confidentiality covenants and covenants that, among other things, grant to the Company intellectual property ownership in his ideas, inventions and performances and prohibit him from competing with the Company and its affiliates in professional wrestling and our other core businesses during employment and for one year after termination. The agreement allows Mr. McMahon and members of his immediate family to use the Company’s aircraft for personal travel when it is not being used for business purposes. Personal use of the jet is paid for by Mr. McMahon so that no incremental cost is incurred by the Company.

Paul Levesque.Since he joined the Company as a performer in 1995, we18 months. We have had a booking agreement with Mr. Levesque under which he is onecurrently runs until March 30, 2024 and thereafter extends for successive one-year periods unless either party gives notice of our top talent as an independent contractor.nonextension at least 90 days prior to the expiration date. Under his current bookingthis agreement, Mr. Levesque is entitled to a minimum guaranteed annual payment of $1 million, whichand the Company recoupsis entitled to recoup this minimum from all payments under the agreement including pay for performing in live and televised events and royalties for merchandise sold utilizing Mr. Levesque’s name and/or likeness.

Frank A. Riddick. The Company entered into an amended and restated employment agreement effective October 13, 2022, with Frank A. Riddick, III, pursuant to which he serves as our President & Chief Financial Officer with a current annual salary of $950,000. Mr. LevesqueRiddick received a one-time $1.0 million cash sign-on bonus payment, which remains subject to partial repayment requirements if he voluntarily leaves the Company without good reason or is terminated with cause before November 5, 2024. In addition, Mr. Riddick is eligible to participate in the Company’s Incentive Plan under which he has out-earned this minimum guaranteea target bonus of 125% of his salary.

 30

Mr. Riddick is eligible to receive equity awards under the Incentive Plan with an annual target in each2023 equal to $2.4 million. During 2021, Mr. Riddick received a sign-on inducement grant of restricted stock units valued at $5.0 million. These restricted stock units vest in equal installments over four years beginning June 2022. In the event the Company terminates his employment without “cause” or he terminates his employment for “good reason” (as defined in the employment agreement), Mr. Riddick would be eligible to receive as severance (i) a payment in an amount equal to the sum of his base salary and annual bonus based on target performance for the year in which the termination occurs and (ii) a prorated portion of the past several years.annual bonus he would have otherwise earned for the year in which the termination occurs. In addition, if his employment terminates for these reasons, or if he dies or becomes disabled, his sign-on restricted stock units will vest. In the event that within two years, following a Change in Control (as defined in the employment agreement), Mr. Riddick is terminated or Mr. Riddick terminates his employment with good reason, he will receive (i) one and a half times his then current salary; (ii) a bonus equal to one and a half times his target bonus; (iii) a prorated portion of the bonus he otherwise would have received; (iv) full vesting of all invested stock units, with performance share units that have not completed their performance measurement periods at target levels; and (v) continued health benefits for eighteen (18) months.

Additional Enhancements. Under their employment agreements, Messrs. McMahon, Khan, Levesque and Riddick, and members of their immediate family, are allowed to use the Company’s aircraft for personal travel when not being used for business purposes. Personal use of the aircraft is paid for by the executive so that no incremental cost is incurred by the Company. The agreement currently runs until March 30, 2019, and thereafter extends for successive one-year periods unless either party gives notice of nonextension at least 90 days priorCompany recently disclosed enhancements to the expiration date.


Other Agreements and Programs.While we generally attempt to avoid entering into employment agreements with our other executives, we have severance arrangements with manycompensation of our executive officers including ourcertain named executive officers which provide for a specified period of severance (and, in certain instances, the vesting of equity beyond what is required by our severance plan) in the event of an involuntary termination of employment without cause. The Company also has a severance plan for all eligible employees (generally full-time employees and part-time employees who regularly work in excess of 30-hour weeks and, in either case, have at least one year of employment with the Company) which provides for severance in the case of involuntary termination of employment without cause, ranging, depending on length of service, from a minimum of four weeks to a maximum of one year. The employee is also entitled to a prorated bonus for the year of termination, at rates to be determined (based on actual Company performance), if his or her termination occurs after July 1closing of the year. Employee health insurance is also provided during the severance period. This policy covers any executive officers who do not have individual severance agreements. The Company believes that these severance provisions are necessary for the Company to attract and retain high caliber employees.Proposed Transaction.

Performance Stock UnitsEquity Award Terms..Under our standard PSU award agreement, if the terms of our stock units,underlying performance vesting conditions have been achieved, dividends accrue after the performance test has been met at the same rate as are paid on our shares of Class A common stock. This ensures that, to the extent shares are not earned due to a performance shortfall, no dividends will be paid on the stock units. Time-based RSUs and our new PSUs with a three-year performance period and cliff vesting accrue dividends from the date of grant. Dividend accruals vest at the same time as the vesting of the stock units on which they accrue. Under theirOur standard terms, stock units generally vest over three years (assuming that the performance test has been met). The unitsaward agreements for PSUs and RSUs have a double trigger“double trigger” accelerated vesting provision so that in the event of a change of control, if the employee is terminated without cause or terminates his or her employment for good reason, as a result of a decreasedefined in base salary, a change in responsibilitythe applicable plan or reporting structure or a change in employment location of more than 25 miles, suchagreement, vesting iswould be accelerated.

Management Incentive PlanPlan..Our management incentive planMIP is administered under the 2016 Omnibus Incentive Plan and provides for incentive cash bonuses to be made annually based upon Company-wide and individual performance. The plan provides guidelines for the calculation of bonuses subject to Compensation & Human Capital Committee oversight and approval. For 2017, participants’ bonuses were based on two components, individual performanceThe 2022 plan, goals and Company performance. The participant had to meet threshold goals for both components in order to receive any bonus under the management incentive plan. Individual performance was scored based on many factors, such as competency, creativity, leadership and communication. At the beginning of 2017, the Compensation Committee set a Company-wide performance target for Revenue, OIBDA and a series of strategic objectives relating to the Company’s brand strength, growth initiatives and its business development, all aspayouts are described above in the “Compensation Discussion and Analysis.” As an additional performance requirement, the strategic objectives funding factor was deemed met only if the Company achieved net revenues in excess of $500 million for the year.Analysis”. Bonuses paid under the management incentive planMIP to named executive officers are included in column (g) of the Summary Compensation Table.


Outstanding Equity Awards at December 31, 2017Other Agreements and Programs.

Stock Awards(1)
Market Value of
Number of Shares orShares or Units of
Units of Stock ThatStock That Have Not
Name(a)     Have Not Vested (#)(g)     Vested ($)(h)(2)
Vincent K. McMahon       0            0     
George A. Barrios399,77012,224,967
Michelle D. Wilson400,44812,245,700
Paul Levesque81,3162,486,643
Kevin Dunn414,55612,677,122
____________________

(1)

Includes dividends that have accrued (at a non-preferential rate) as additional stock units but were not vested at December 31, 2017. Performance stock units vest in installments on or about July 20 of 2018, 2019 and 2020. Includes shares underlying the 2017 annual grant of performance share units earned in 2017 at 120% of target.

(2)

These amounts are calculated by multiplying the closing price of the Company’s Common Stock of $30.58 on December 29, 2017, the last trading day in 2017, by the number of unvested stock units on that day.

Stock Vested during 2017

Stock Awards
Number
of SharesValue
Acquired onRealized
Vestingon Vesting
Name (a)     (#)(d)(1)     ($)(e)(2)
Vincent K. McMahon   0   0
George A. Barrios173,9363,703,097
Michelle D. Wilson174,0623,705,780
Paul Levesque29,414626,224
Kevin Dunn176,4473,756,557
____________________

(1)

The number of shares acquired on vesting reflects the gross number of shares that vested, including shares withheld by the Company to cover the withholding tax payable upon such vesting.

(2)

The amounts are calculated by multiplying the number of shares vested by $21.29, the closing price on July 20, 2017, which was the vesting date for these shares.

Potential Payments Upon Termination or Change in Control

Certain agreements with our named executive officers provide for severance and/or accelerated vesting of equity in the event of an involuntary termination without cause or a termination following a change in control. The Company also has a severance planpolicy for all eligible employees (generally full-time employees and part-time employees who regularly work in excess of 30-hour weeks and, in either case, have at least one year of employment with the Company), including Mr. Dunn and Ms. Ramirez-Carr, which provides for severance in the case of involuntary termination of employment without cause, ranging, depending on title and length of service, from a minimum of four weeks to a maximum of one year. The employee is also would be entitled to a prorated bonus for the year of termination, at rates to be determined (based on actual Company performance), if his or her termination occurs on or after July 1 of the year. Employee health insurance is also provided during the severance period. In addition, underThis policy covers any employees who do not have individual severance agreements. The Company believes that these severance provisions are necessary for the Company to attract and retain high caliber employees.


 31

Outstanding Equity Awards at December 31, 2022

  Stock Awards (1)
Name(a) 

Number of Shares or
Units of Stock That
Have Not Vested (#)(g)

 

Market Value of
Shares or Units of
Stock That Have Not
Vested ($)(h)(2)

Vincent K. McMahon(3)  0   0 
Nick Khan  396,108      27,141,298    
Stephanie McMahon(4)  144,593   9,907,543 
Paul Levesque  202,869   13,900,601 
Frank A. Riddick, III  87,285   5,980,751 
Kevin Dunn  213,394   14,621,762 
Suzette Ramirez-Carr  8,610   589,955 

(1)Includes dividends that have accrued (at a non-preferential rate) as additional stock units that were not vested at December 31, 2022. Includes the 2022 annual grant of performance stock units which were earned at 124% of target and vest in installments on or about July 20, 2023, 2024 and 2025. Also Includes shares underlying (i) Special Grants of performance stock units to Messrs. Dunn, Khan, Levesque and Riddick and Ms. McMahon and (ii) grants of restricted stock units to Mr. Dunn and Ms. Ramirez-Carr, in each case with the vesting dates described in the footnotes to the Summary Compensation Table and/or Grants of Plan-Based Awards table above.
(2)These amounts are calculated by multiplying the closing price of the Company’s Common Stock of $68.52 on December 30, 2022, the last trading day in 2022, by the number of unvested stock units reflected in the table.
(3)Mr. McMahon resigned on July 22, 2022, forfeiting unvested shares. He remained a stockholder with a controlling interest and rejoined the Company as Executive Chairman in January 2023.
(4)Ms. McMahon resigned effective January 10, 2023, forfeiting unvested shares.

Stock Vested during 2022

  Stock Awards
Name (a) 

Number
of Shares
Acquired on
Vesting
(#)(d)(1)

 Value
Realized
on Vesting
($)(e)(2)
Vincent K. McMahon  26,869     1,780,618
Nick Khan  48,743  3,545,146
Stephanie McMahon  8,733  578,716
Paul Levesque  8,733  578,716
Frank A Riddick, III  22,332  1,399,418
Kevin Dunn  71,764  4,621,089
Suzette Ramirez-Carr  0  0

(1)The number of shares acquired on vesting reflects the gross number of shares that vested, including shares, if any, withheld by the Company to cover the withholding tax payable upon such vesting.
(2)The amounts are calculated by multiplying the number of shares vested by the closing price on the applicable vesting date for these shares.
 32

Potential Payments Upon Termination or Change in Control

Certain agreements with our named executive officers provide for (i) severance following an involuntary termination without cause or a resignation by the standard termsemployee for good reason not in connection with a change in control and (ii) enhanced severance entitlements and accelerated vesting of our PSUs,equity in the event that,of a termination (or constructive termination, as defined) within the 24 months after a change of control, as defined in the agreement, (x) terminates his or her employment as a result of a decrease in base salary,following a change in responsibility or reporting structure orcontrol. The Company also has a change in employment locationseverance plan for all eligible employees. The terms of more than 25 miles (“Constructive Termination”); or (y) such person is terminated without cause, such stock unitsthese agreements and accrued dividend units will vest at the target level. Under certain Performance Agreements, if Mr. Barrios, Ms. Wilson, or Mr. Dunn is terminated without cause, as defined in his or her Performance Agreement, for any PSUs granted thereunder that have met their performance tests before the termination, the shares that would otherwise vest at the next vesting date will vest,plan are described under “Narrative Disclosure to Summary Compensation Table and all other PSUs and related dividend units under the Performance Agreement will be forfeited.Grants of Plan-Based Awards Table” above. The following is a quantification of such provisions, assuming hypothetically that the triggering event took place on the last businesstrading day of 20172022 with the closing price per share of the Company’s Common Stock on that date of $30.58.$68.52. Certain recently disclosed enhancements would change these numbers if the calculations were made currently, rather than at December 31, 2022.

Name Executive Benefit
and Payments
Upon Separation
 

Involuntary
Not For Cause
Termination/
Voluntary
Termination with
Good Reason
($)

 

Constructive
Termination
Following
Change in
Control
($)

Constructive        
Termination
InvoluntaryFollowing
Executive BenefitNot For CauseChange in
and PaymentsTerminationControl
Name     Upon Separation     ($)     ($)
Vincent K. McMahonCompensation: Compensation:
Salary
Bonus

0

0

        

0

0

       
       Salary2,800,000(1)2,800,000(1) 
       Bonus2,800,000(1)(2)2,800,000(1)(2) Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
0 0 
  Continuation of health,
accident and life insurance
 0 0 
Long-Term Incentive Total: 0 0 
       Compensation: 
Nick Khan Compensation:
Salary
Bonus

3,506,301

2,016,087

 

2,700,000

6,048,262

 
       Accelerated Vesting of 
       Stock Units00 Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
0 27,141,298 
Continuation of health, Continuation of health,
accident and life insurance
 20,555(1) 41,110(1)
accident and life insurance22,370(3)22,370(3) Total: 5,542,944 35,930,670 
              Total:5,622,3705,622,370
George A. BarriosCompensation:
       Salary783,510(4)0
       Bonus391,755(2)0
Long-Term Incentive
       Compensation:
       Accelerated Vesting of
       Stock Units6,376,4152,115,878
Continuation of health,
accident and life insurance28,760(3)0
              Total:7,580,4402,115,878


Constructive
Termination
InvoluntaryFollowing
Executive BenefitNot For CauseChange in
       and PaymentsTerminationControl
Name     Upon Separation     ($)     ($)
Michelle D. WilsonCompensation:        
       Salary593,283(4)0
       Bonus395,522(2)0
 
Long-Term Incentive
       Compensation:
       Accelerated Vesting of
       Stock Units6,376,4152,132,485
Continuation of health,
accident and life insurance22,382(3)0
              Total:7,387,6022,132,485
 
Paul LevesqueCompensation:
       Salary366,164(4)0
       Bonus183,082(2)0
 
Long-Term Incentive
       Compensation:
       Accelerated Vesting of
       Stock Units01,911,704
Continuation of health,
accident and life insurance28,760(3)0
              Total:578,0061,911,704
 
Kevin DunnCompensation:
       Salary909,560(4)0
       Bonus454,780(2)0
 
Long-Term Incentive
       Compensation:
       Accelerated Vesting of
       Stock Units6,376,4152,479,392
Continuation of health,
accident and life insurance28,760(3)0
              Total:7,769,5152,479,392
____________________

 33
Name Executive Benefit
and Payments
Upon Separation
 

Involuntary
Not For Cause
Termination/
Voluntary
Termination with
Good Reason
($)

 

Constructive
Termination
Following
Change in
Control
($)

         
Paul Levesque. Compensation:
Salary

1,099,916

(2) 

1,350,000

(2)
  Bonus603,918  1,509,795 
         
  Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
0  9,907,543 
  Continuation of health,
accident and life insurance
 20,473(1) 30,710(1)
  Total: 1,724,307  12,798,047 
         
Stephanie McMahon(3) Compensation:
Salary
 

1,534,932

(2) 

3,069,863

(2)
  Bonus 1,166,603  3,499,808 
         
  Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
 0 13,900,601 
  

Continuation of health,

accident and life insurance

 20,473(1) 40,947(1)
  Total: 2,722,008  20,511,219 
         
Frank A. Riddick, III Compensation:
Salary
Bonus

950,000

1,719,192

  

1,425,000

2,148,990

 
         
  Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
 4,393,459 5,980,751 
  

Continuation of health,

accident and life insurance

 17,224(1) 26,585(1)
  Total: 7,080,374  9,581,326 
 34
Name Executive Benefit
and Payments
Upon Separation
 

Involuntary
Not For Cause
Termination/
Voluntary
Termination with
Good Reason
($)

 

Constructive
Termination
Following
Change in
Control
($)

         
Kevin Dunn Compensation:
Salary
Bonus

1,100,000

1,100,000

  

1,100,000

1,100,000

 
         
  Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
 12,323,115 16,098,947 
  

Continuation of health,

accident and life insurance

 26,935(1) 0 
  Total: 14,553,050  18,298,947 
         
Suzette Ramirez-Carr Compensation:
Salary
Bonus
 

111,538

0

  

725,000

0

 
         
  Long-Term Incentive
Compensation:
Accelerated Vesting of Stock Units
 0  589,995 
  

Continuation of health,

accident and life insurance

 0  15,682(1)
  Total: 111,538  1,330,638 

(1)

Includes voluntary resignation for good reason. Under his employment agreement, Mr. McMahon is required to maintain the confidentiality of Company information indefinitely after his termination and has a one-year non-compete covenant.

(2)

The Company met its minimum (threshold) performance goals under our MIP for 2017. Otherwise, this number would have been $0.

(3)

EstimateEstimates based on current rates and premiums for the Company under the Consolidated Omnibus Reconciliation Act (“COBRA”).

(2)

In the case of Mr. Levesque and Ms. McMahon, includes ninety (90) days’ continued minimum guarantee under his/her booking agreement in effect at the end of 2022.
(4)

(3)

Payable over severance period.

Ms. McMahon resigned effective January 10, 2023, and these amounts were not paid. If she had resigned before December 31, 2022, all of these numbers would have been $0.

 35

Equity Compensation Plan Information

The following table sets forth certain information with respect to securities authorized for issuance under equity compensation plans as of December 31, 2017.2022.

Plan Category 

Number of securities
to be issued
upon exercise of
outstanding options,
|warrants and rights
(a)

 

Weighted-average
exercise price of
outstanding options,
warrants and rights
(b)

 

Number of securities remaining
available for future issuance
under equity compensation
plans (excluding securities
reflected in column (a))
(c)

Number of securitiesNumber of securities remaining          
to be issuedWeighted-averageavailable for future issuance
upon exercise ofexercise price ofunder equity compensation
outstanding options,outstanding options,plans (excluding securities
warrants and rightswarrants and rightsreflected in column (a))
Plan Category     (a)     (b)     (c)
Equity compensation plans approved by security holders:                         
2012 Employee Stock Purchase Plan0N/A1,585,604 0 N/A 1,312,937 
2007 Omnibus Incentive Plan
Performance and Restricted stock units731,600N/A0
2016 Omnibus Incentive Plan 
Performance and Restricted stock units1,800,123(1)N/A3,590,148(1) 1,488,033(1)    N/A 2,249,440(1)       
Equity compensation plans not approved by security holdersN/AN/AN/A N/A  N/A N/A 
Total2,531,723(1)5,175,752(1) 1,488,033(1) 3,562,377(1)

____________________

(1)

For 2017,PSUs, calculated using target numbers. Information relating to aggregate units earned in respect of 20172022 is found in “Executive Compensation – Compensation Discussion and Analysis – Performance Stock Units (“PSUs”).Analysis.

 36

Director Compensation for 20172022

For 2017,2022, we paid our non-employee Directors a retainer at an annual rate of $100,000, payable in equal quarterly installments in arrears.targeted at $210,000. In addition, we paid our Audit and Compensation Committee Chairsmembers an annual fee of $15,000, and$15,000; our Compensation & Human Capital Committee members an annual fee of $10,000; our Governance & Nominating Committee Chairmembers an annual fee of $10,000, in each case in equal quarterly installments in arrears. Non-employee Directors also received$7,500; the Chair of our Audit Committee an annual fee of $35,000; the Chair of our Compensation & Human Capital Committee a fee of $1,500 for each Board$30,000; and the Chair of our Governance & Nominating Committee meeting that they attended in person or by telephone. $42,500a fee of $22,500. We pay our Lead Independent Director an annual fee of $55,000. The Company paid $100,000 of a Director’s annual retainer, together with all meeting and Committee Chair fees, were paid in cash and the remainder in unrestricted shares of our Class A common stock. All payments are made in equal quarterly installments in arrears. The grant of shares is calculated using an average closing price for the last 30 trading days of the calendar quarter for which grants are made (so the actual aggregate grant date values set forth in the table may vary from the numbers for the grants described in this narrative description). All Directors received reimbursement of expenses incurred in connection with participation in our Board and Committee meetings. In addition, all independent directors who worked on the previously disclosed special investigation during 2022 received a cash retainer of $50,000, and its two co-chairs, Messrs. Singh and Speed, received $80,000, in each case in arrears. Management Directors do not receive additional compensation for their services as a Director. The Company has Indemnification Agreements with its outside directors which, together with our Charter and By-laws, provide for indemnification to the fullest extent allowed by applicable law.


The following table sets forth the components of total compensation earned during 20172022 by our non-employee Directors.

          Stock     
Fees Earned orAwardsTotal
Name (a)Paid in Cash(b)($)(c)(1)($)(h)
Stuart U. Goldfarb71,04257,500128,542
Patricia A. Gottesman66,04257,500123,542
Laureen Ong59,04257,500116,542
Joseph H. Perkins(2)17,50017,50035,000
Robyn W. Peterson57,54257,500115,042
Frank A. Riddick, III87,54257,500145,042
Jeffrey R. Speed87,54257,500145,042
Name (a) Fees Earned or
Paid in Cash($)(b)
 Stock
Awards
($)(c)(1)
 Total
($)(h)
JoEllen Lyons Dillon(2)  28,905        29,290 58,195
Steve Koonin  160,084  109,186 269,270
Ignace Lahoud  120,962  65,779 186,740
Michelle McKenna(4)  28,905  29,290 58,195
Erika Nardini(3)  128,346  79,806 208,171
Laureen Ong(5)  47,313  43,720 91,032
Steve Pamon  169,709  109,186 278,895
Connor Schell(6)  56,890  57,792 114,682
Man Jit Singh(2)  272,584  109,186 381,770
Jeffrey R. Speed(2)  222,584  109,186 331,770
Alan M. Wexler(2)  165,084  109,186 274,270

____________________

(1)

Represents the aggregate grant date fair value under FASB ASC Topic 718 (calculated at the average closing price for the last 30 trading days of the calendar quarter for which grants are made).718. See “Security Ownership of Certain Beneficial Owners and Management” for a description of the number of shares of our Class A common stock owned by each of our Directors.

(2)

Mr. PerkinsMs. Dillon and Messrs. Lahoud, Singh, Speed and Wexler all left the Board in early January 2023.

(3)Ms. Nardini left the Board on September 15, 2022.
(4)Ms. McKenna joined the Board on September 15, 2022.
(5)Ms. Ong left our Board effective withon May 19, 2022, the date of our 2022 annual meeting which was heldmeeting.
(6)Mr. Schell left the Board on April 20, 2017.

July 6, 2022.

Certain Relationships and Related Party Transactions

As previously disclosed, the Company learned in 2022 of certain settlement and other agreements entered into by Mr. McMahon over the past several years, resulting in a special investigation by our independent Directors and revisions to our financial statements. Mr. McMahon reimbursed the Company for expenses it incurred in this connection in the amount of approximately $17.4 million through January 31, 2023 and Mr. McMahon will review in good faith and reimburse the Company for additional such costs incurred subsequent to January 31, 2023 (or that have been incurred and not yet paid as of January 31, 2023).

Stephanie McMahon is the daughter of Vincent McMahon, and Paul Levesque is her husband. Both Stephanie McMahon and Paul Levesque arewere executive officers and directors of the Company during 2022, and areMr. Levesque is nominated for election to the Board of Directors at the upcoming Annual Meeting. Each is a performer for the Company. These executives receiveindividuals received compensation in their capacities as employees and as independent contractor performers for the Company including participating in talent royalties for certain Company products bearing his or her name and/or likeness. Each has a booking contract with the Company. The compensation package of each of Ms. McMahon’s total compensation in 2017 in all these capacities was approximately $2.2 million.McMahon and Mr. Levesque’s compensationLevesque is detailed in the Summary Compensation Table. While, under

Shane B. McMahon is the son of Vincent McMahon, brother of Stephanie McMahon and brother-in-law of Paul Levesque. In 2022, Shane McMahon was retained as a performer for the Company for which he received an aggregate of approximately $827,559.

Under its charter, the Audit Committee is responsible for reviewing and approving related party transactions, which the Company defines as those required to be disclosed by applicable SEC regulations, theregulations. The Audit Committee does not review the retention of Stephanie McMahon, or Paul Levesque or Shane McMahon each year, noryear. Nor does itthe Committee approve their levels of compensation. Instead, as to levels of their compensation for Mr. Levesque as employees,an employee, the Audit Committee relies on the approval procedures of the Compensation & Human Capital Committee. Their pay as performers, as well as that of Shane B. McMahon, as noted below, is negotiated by the Company’s Chairman/Chief Executive Officer and/or the Company’s Talent Relations Department, and/or the Company’s film studio, as applicable. The Audit Committee believes this oversight to be consistent with relevant industry expertise and good business practice. While no written policies exist, the Audit Committee believes it would apply a standard of reasonable business practices to any other related party transactions.

Shane B. McMahon is the son of Vincent McMahon, brother of Stephanie McMahon and brother-in-law of Paul Levesque. In 2017, Shane McMahon returned as a performer for the Company for which he received performance fees and royalties aggregating approximately $1.3 million.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Exchange Act requires our Directors, executive officers, and persons who own more than 10% of our common stock to file reports of their ownership and changes in ownership of our common stock with the SEC. Based on information available to us during 2017, we believe that all Section 16(a) filings were made timely.


CEO Pay Ratio

As required by applicable SEC rules, we are providing the following information about the relationship between the annual total compensation of our employees and the annual total compensation of Vincent K. McMahon,Nick Khan, our Chairman and Chief Executive Officer.

For 2017,2022, the total compensation of our median employee was $107,556,$105,283, and, as reported in the Summary Compensation Table above and adjusted to annualize his salary as provided below, Mr. McMahon’sKhan’s total compensation was $3,087,537.$24,957,683.

For 2017,2022, the ratio of the annual total compensation of our Chairman and Chief Executive Officer to the annual total compensation of our median employee was 28.7237 to 1 (our “CEO Pay Ratio”)

We tookused the following steps tosame median employee for our CEO pay ratio in our proxies mailed in 2022. To identify the median employee, we used total W-2 compensation. We did not use any statistical sampling techniques and quantifydid not make any cost of living adjustments identifying our median employee. We do not believe there were any other changes in our employee population or employee compensation arrangements that would significantly change our CEO pay ratio disclosure. For the CEO pay ratio, we used annual total compensation of both Mr. Khan and our median employee, calculated for 2022 in accordance with the requirements of Item 402(c)(2)(x).

Although we had more than one CEO serving in that role during 2022, we determined to use Mr. Khan who was employed throughout the year, annualizing his salary to the year-end number (which is the reason the number used in this CEO Pay Ratio exceeds his total compensation in the summary compensation table by $84,077). It is worth noting that Mr. Khan’s 2022 total compensation included an approximate $16.5 million (valued at a 30 day trading average stock price) second tranche of a special equity grant agreed upon in connection with his hiring in 2020. This inflates his compensation beyond what it otherwise would have been. Without this grant, Mr. Khan’s total compensation would have been $8,457,683 and our CEO.the CEO Pay Ratio would be 80 to 1.

1.

We determined that, as of December 31, 2017, our employee population consisted of approximately 840 individuals. This population consisted of our full-time, part-time and temporary employees employed with us as of the determination date.

2.

To identify the “median employee” from our employee population, we used total W-2 compensation for U.S. employees and comparable compensation for international employees. We did not use any statistical sampling techniques and did not make any cost of living adjustments identifying our median employee.

3.

For the annual total compensation of our median employee, we identified and calculated the elements of that employee’s compensation for 2017 in accordance with the requirements of Item 402(c)(2)(x).

Our reported CEO Pay Ratio is a reasonable estimate calculated in a manner consistent with SEC rules for identifying the median employee and determining the ratio. These rules permit companies to employ a wide range of methodologies, estimates and assumptions. CEO pay ratios reported by other companies, which may have used other permitted methodologies or assumptions, and which may have a significantly different work force structure from ours, are likely not comparable to our CEO Pay Ratio.

Pay Versus Performance Disclosure

In accordance with rules adopted by the Securities and Exchange Commission (“SEC”) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive “compensation actually paid” (“CAP”, as calculated in accordance with the SEC rules) and certain Company performance measures for the fiscal years listed below. For information regarding the WWE’s pay-for-performance philosophy and how the Company aligns executive pay with performance, refer to our Compensation Discussion & Analysis (“CD&A”).


39

                         
  Vincent McMahon (1) Stephanie McMahon (2) Nick Khan (3) Non-CEO NEOs (4) Year-end value
of $100 invested on
12/31/2019 in:
    
Year Summary
Compensation
Table Total
$
 Compensation
Actually Paid
(5)(6)
$
 Summary
Compensation
Table Total
$
 Compensation
Actually Paid
(5)(6)
$
 Summary
Compensation
Table Total
$
 Compensation
Actually Paid
(5)(6)
$
 Average
Summary
Compensation
Table Total
$
 Average
Compensation
Actually Paid
(5)(6)
$
 WWE
$
 S&P US BMI
Media &
Entertainment
Index
$
 Net
Income
(in
millions)
$
 Adjusted
OIBDA
(in millions)
$
                         
2022 12,413,833 -292,437 14,283,526 11,251,129 24,873,606 19,212,760 7,773,102 8,871,744 108.6 90.7 195.6 384.6
2021 5,051,547 5,797,169 N/A N/A N/A N/A 3,995,173 3,941,461 77.6 163.4 177.4 327.1
2020 3,905,792 2,057,290 N/A N/A N/A N/A 3,409,744 -505,976 74.9 133.5 131.8 286.2

(1)Vincent McMahon resigned as CEO effective July 22, 2022.
(2)Stephanie McMahon was appointed Co-CEO effective July 22, 2022.
(3)Nick Khan was appointed Co-CEO effective July 22, 2022.
(4)Non-CEO NEOs reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives by year:

2022: Frank Riddick, Paul Levesque, Kevin Dunn, Suzette Ramirez-Carr

2021: Stephanie McMahon, Nick Khan, Frank Riddick, Paul Levesque, Kristina Salen

2020: Stephanie McMahon, Nick Khan, Frank Riddick, Paul Levesque, Kristina Salen, George Barrios

(5)Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid include:

                                 
  2022   2021   2020 
  Vincent
McMahon
 Stephanie
McMahon
 Nick Khan Average Non-
CEO NEOs
 Vincent
McMahon
 Average Non-
CEO NEOs
 Vincent
McMahon
 Average Non-
CEO NEOs
                                 
Total Compensation from
Summary Compensation Table
 $12,413,833  $14,283,526  $24,873,606  $7,773,102  $5,051,547  $3,995,173  $3,905,792  $3,409,744 
Adjustments for Equity Awards                                
Adjustment for grant date values in
the Summary Compensation Table
 $(11,267,050) $(12,361,738) $(21,096,312) $(5,495,176) $(1,671,260) $(1,751,778) $(1,636,594) $(1,380,427)
Year-end fair value of unvested awards granted in the current year $  $8,921,098  $15,646,583  $4,875,115  $2,354,213  $1,717,614  $964,460  $795,788 
Year-over-year difference of year-end fair values for unvested awards granted in prior years $  $257,438  $752,822  $845,335  $30,522  $23,124  $(592,281) $(74,468)
Fair values at vest date for awards granted and vested in current year $  $  $  $567,884  $  $20,006  $  $ 
Difference in fair values between prior year-end fair values and vest date
fair values for awards granted in
prior years
 $464,233  $150,805  $(963,940) $305,484  $32,147  $5,937  $(584,088) $(167,285)
Forfeitures during current year equal to prior year-end fair value $(1,903,453) $  $  $  $   $(68,614) $  $(3,089,328)
Total Adjustments for Equity Awards $(12,706,270) $(3,032,397) $(5,660,846) $1,098,642  $745,622  $(53,712) $(1,848,502) $(3,915,720)
Compensation Actually Paid
(as calculated)*
  -292,437   11,251,129   19,212,760   8,871,744   5,797,169   3,941,461   2,057,290   -505,976 

No adjustments made for pension or dividends not otherwise included in total compensation.

(6)Equity valuation assumptions for calculating Compensation Actually Paid are not materially different from grant date valuation assumptions.

40

Tabular List of Financial Performance Measures

In WWE’s assessment, the most important financial performance measures used to link compensation actually paid to our NEOs, for the most recently completed fiscal year, to the Company’s performance were the following:

Adjusted OIBDA
Revenue
Free Cash Flow

Pay Versus Performance: Graphical Description

The illustrations below provide graphical descriptions of the relationships between the following:

CAP, WWE’s cumulative TSR and the S&P US BMI Media & Entertainment Index cumulative TSR;
CAP and WWE’s Net Income; and
CAP and WWE’s Company Selected Measure (Adjusted OIBDA).

CAP and Cumulative TSR

 

CAP and Net Income

 

41

CAP and Adjusted OIBDA

42

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENTMANAGEMENT.

The following table sets forth certain information known to us with respect to beneficial ownership of our Common Stock as of March 1, 201815, 2023 by (1) each stockholder known by us to be the beneficial owner of more than five percent of either Class A common stock or Class B common stock; (2) each of the Directors and named executive officers; and (3) the Directors and executive officers as a group. Unless otherwise indicated, the address of each stockholder listed in the table below is 1241 East Main Street, Stamford, Connecticut 06902.

Title of Class Name and Address of Beneficial Owner Amount and Nature
Ownership
 % of Class 
          Amount and Nature             
of Beneficial
Title of ClassName and Address of Beneficial OwnerOwnership% of Class
Class B(1)Vincent K. McMahon  32,193,375(2)       93.0      Vincent K. McMahon 28,752,105(2) 92.2 
Class B(1)Linda E. McMahon566,770(3)1.6 Linda E. McMahon 566,770(3) 1.8 
Class B(1)Stephanie McMahon1,933,746(4)5.4 Stephanie McMahon(4) 1,940,190(4) 6.0 
Class ALindsell Train Limited(5)7,132,86816.8 Lindsell Train Limited(5) 7,463,627 17.2 
66 Buckingham Gate 66 Buckingham Gate 
London SWIE 6AU UK London SWIE 6AU UK 
Class ABlackRock, Inc.(6)4,889,36311.5 BlackRock, Inc.(6) 4,778,788 11.0 
55 East 52nd Street 55 East 52nd Street    
New York, NY 10055 New York, NY 10055  
Class AThe Vanguard Group(7)3,501,6608.2 The Vanguard Group(7) 4,128,663 9.5 
100 Vanguard Blvd. 100 Vanguard Blvd. 
Malvern, PA 19355 Malvern, PA 19355 
Class AGeorge A. Barrios337,894* Ninety One UK Limited(9) 2,642,911 6.1 
 55 Gresham Street 
 London, ECV2 7HB 
 United Kingdom 
Class AMichelle D. Wilson82,016* Nick Khan 28,559 * 
Class APaul Levesque83,172(8)* Paul Levesque 46,060(8) * 
Class AKevin Dunn0* Frank A. Riddick, III 35,452 * 
Class AStuart U. Goldfarb21,516* Kevin Dunn 56,219 * 
Class APatricia A. Gottesman22,485* Suzette Ramirez-Carr 0 * 
Class ALaureen Ong9,868* George A. Barrios 0 * 
Class ARobyn W. Peterson7,764* Steve Koonin 2,915 * 
Class AFrank A. Riddick, III33,846* Michelle R. McKenna 426 * 
Class AJeffrey R. Speed30,721* Steve Pamon 4,543 * 
Class A and Class B(9)All Executive Officers and Directors as a34,761,56545.1
(Group (16 Persons)
Class A Michelle D. Wilson 0 * 
Class A and Class B(10) All Executive Officers and Directors as a Group (14 Persons) 29,023,415 38.9 

____________________

*

* Less than one percent.

(1)

(1)

Class B common stock is fully convertible into Class A common stock, on a one-for-one basis, at any time at the election of the holder. The two classes are entitled to equal per share dividends and distributions and vote together as a class with each share of Class B entitled to ten votes and each share of Class A entitled to one vote, except when separate class voting is required by applicable law. If any shares of Class B common stock are beneficially owned by any person other than Vincent McMahon or his wife, Linda McMahon, any descendant of either of them, any entity which is wholly owned and is controlled by any combination of such persons or any trust, all the beneficiaries of which are any combination of such persons, each of those shares will automatically convert into shares of Class A common stock.

(2)

Includes 69,157 shares of Class A Common Stock. Excludes 566,670 shares of Class B common stock and 100 Sharesshares of Class A common stock owned by Mr. McMahon’s wife, Linda McMahon.

Mr. McMahon has pledged (x) 1,000,000 of these shares to secure certain contingent obligations relating to insurance matters for XFL, a football league formerly owned by Mr. McMahon; (y) 3,484,006 of these shares to secure his obligations under a prepaid forward contract; and (z) 5,870,130 of these shares secure a revolving credit facility.
(3)

Includes 100 shares of Class A held directly by Mrs. McMahon.



(4)

Includes (i) 84,35390,797 shares of Class A common stock held by Ms. McMahon; and (ii) 1,849,393 shares of Class B common stock held by the Stephanie McMahon Levesque Trust u/a Vincent K. McMahon Irrev.Irrevocable Trust dtd. 12/23/2008 (the “2008 Trust”). Ms. McMahon is a beneficiary of the 2008 Trust. She has sole investmentdispositive power over the shares held by the 2008 Trust. Excludes shares held by Paul Levesque, Ms. McMahon’s husband.

(5)

The amount shown is from an Amendment No. 48 to Schedule 13G, filed February 13, 2018.8, 2023. Lindsell Train Ltd, (“Lindsell”Lindsell Train”) is an investment adviseradvisor with shared power to vote and dispose all of these shares. Messrs. Michael James Lindsell and Nicholas John Train each owns a significant membership interest in Lindsell Train and therefore may be deemed to control shares held in managed accounts by Lindsell.Lindsell Train. Each of the reporting persons disclaims beneficial ownership in such shares except to the extent of his pecuniary interest therein.

(6)

The amount shown is from an Amendment No. 39 to Schedule 13G, filed January 19, 2018.24, 2023. BlackRock, Inc. is a parent holding company with sole power to vote 4,824,6564,583,624 of the shares and sole power to dispose of all of the shares.

(7)

The amount shown is from an Amendment No. 39 to Schedule 13G, filed February 9, 2018.2023. The Vanguard Group is an investment adviseradvisor with sole dispositive power over 3,426,8484,064,528 shares, shared dispositive power over 74,812 shares, sole voting power over 76,51264,131 shares, and shared voting over 1,80021,939 shares.

(8)

Excludes shares held by Stephanie McMahon, Mr. Levesque’s wife.

(9)

The amount shown is from a Schumer 13G, filed February 13, 2023. Ninety One UK Limited is a non-us discretionary investment advisor which has sole party to vote and dispose of these shares.

(10)Assumes hypothetically that all shares of Class B common stock have been converted into Class A common stock.


PROPOSAL 2 — 2—RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM

The Board of Directors has recommended that the stockholders ratify the Audit Committee’s appointment of Deloitte & Touche LLP (“Deloitte”) as our independent registered public accounting firm for the year ending December 31, 2018.2023. Deloitte has audited our consolidated financial statements since 1999. In recommending to the Board of Directors the reappointment of Deloitte, the Audit Committee took into consideration a number of factors including the length of time Deloitte has been engaged, the quality of the Audit Committee’s discussions with representatives of Deloitte, reports of the Public Company Accounting Oversight Board (“PCAOB”) on Deloitte, Deloitte’s fees and the performance of the lead audit and consulting partners.partner. Under SEC rules and Deloitte’s practice, the lead engagement audit partner as well as consulting partner, are eachis required to change every five years, and a new lead audit partner has beenwas appointed beginning 2017. The consulting partner will change in 2018.2022. The Committee interviewed and approved the incoming audit partner, and will do so for the consulting partner as well.partner. Although ratification of this selection is not legally required, the Board of Directors believes that it is appropriate for the stockholders to ratify such action as a matter of good corporate governance. If the stockholders do not ratify the selection of Deloitte, the Audit Committee will reconsider their appointment as our independent registered public accounting firm. We expect that a representative of Deloitte will be present at the Annual Meeting, will have an opportunity to make a statement if he or she wishes and will be available to respond to appropriate questions.

Independent Auditors Fees

The following table presents fees for professional audit services rendered by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte & Touche”) for the audit of our financial statements for calendar years 20162021 and 2017,2022, and fees for other services rendered by Deloitte & Touche during those periods.

  2021 2022
       
Audit Fees (a) $1,492,100 $1,616,000
Audit-Related Fees (b)  0 $1,101,000
Tax Fees (c)  0  0
All Other Fees (c)  0  0
Total $1,492,100 $2,717,000

     2016     2017
Audit Fees (a)$1,385,079$1,358,141
Audit-Related Fees (b)00
Tax Fees (c)00
All Other Fees (d)00
Total$1,385,079$1,358,141
____________________

(a)

“Audit Fees” were for the audit of the Company’s annual financial statements, (and a stand-alone audit of one of WWE’s subsidiaries required for an existing financing in 2016), reviewsreview of the Company’s quarterly financial statements and other services related to SEC matters including attestation of management’s assessment of internal control over financial reporting as required by Section 404 of the Sarbanes-Oxley Act of 2002.

(b)

No “Audit-Related Fees” were paid to Deloitte & Touche during 2016 or 2017.

Consists of fees for additional audit and internal control assessment work required by our 2022 financial restatement and related matters.
(c)

No feesservices other than those described in footnotes (a) and (b) were incurredperformed for tax compliance, tax advice or tax planning during 2016 or 2017.

(d)

No other services were renderedthe Company by Deloitte & Touche during 2016in 2021 or 2017.

2022.

The Audit Committee has adopted policies and procedures for pre-approving all non-audit work performed by Deloitte & Touche. In general, the provision of such services must be compatible with the maintenance of that firm’s independence in the conduct of its auditing functions. The Audit Committee annually reviews and pre-approves services on a list of generally pre-approved services, subject to projected dollar fees, and the Committee is updated from time to time at regularly scheduled meetings as to the actual fees vis-à-vis these projections. All of the services provided by Deloitte & Touche in the table above were pre-approved by the Audit Committee and the Committee has concluded that the provisions of these services at these costs is compatible with the maintenance of Deloitte’s independence. If additional services are identified

throughout the year, they are taken to the Audit Committee’s Chair for pre-approval. The Audit Committee Chair is designated to pre-approve them, reporting such pre-approval to the entire Audit Committee at its next meeting, unless such services have projected fees in excess of $25,000, in which case they are to be
pre-approved by the entire Audit Committee.

Audit Committee Report

The primary purpose of the Audit Committee is to assist the Board in monitoring the integrity of our financial statements, our independent auditor’s qualifications and independence, the performance of our independent auditors and our compliance with legal and regulatory requirements. The Board, in its business judgment, has determined that all members of the Committee are “independent,” as required by applicable listing standards of the New York Stock Exchange and applicable regulations of the SEC. The Audit Committee operates pursuant to a charter, a copy of which is available on the Company’s corporate website (corporate. wwe.com)(corporate.wwe.com). For a description of this charter and the Audit Committee’s responsibilities under it, please also refer to “Proposal 1 – Election of Directors – The Board and Committees.”

Management is responsible for the preparation, presentation and integrity of the Company’s financial statements, accounting and financial reporting principles and internal controls and procedures designed to assure compliance with accounting standards and applicable laws and regulations. The independent auditors were responsible for performing an independent audit of the consolidated financial statements in accordance with generally accepted auditing standards.

In performing its oversight role, the Audit Committee has, among other things covered in its charter, reviewed and discussed the audited financial statements with management and the independent auditors. The Audit Committee has also discussed with the independent auditors the matters required to be discussed by Statement on Auditing Standards No. 1301,Communication with Audit Committees,applicable requirements of the PCAOB and Rule 2-07, Communication with Audit Committees, of Regulation S-X.the SEC. The Committee has received the written disclosures and the letter from the independent auditors required by applicable requirements of the Public Accounting Oversight Board regarding the independent auditor’s communications with the Audit Committee concerning independence. The Audit Committee has also considered whether the provision of non-audit services by the independent auditors is compatible with maintaining the auditors’ independence and has discussed with the auditors their independence.

Based on the reports and discussions described in this Report, and subject to the limitations on the role and responsibilities of the Audit Committee referred to in this Report and in the charter, the Audit Committee recommended to the Board that the audited financial statements be included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2017.2022.


While the members of the Audit Committee meet the independence, financial experience and other qualification requirements of the New York Stock Exchange and applicable securities laws, they are not professionally engaged in the practice of auditing or accounting. Members of the Committee rely without independent verification on the information provided to them and on the representations made by management and the independent auditors. Accordingly, the Audit Committee’s oversight does not provide an independent basis to determine that management has maintained appropriate accounting and financial reporting principles or appropriate internal controls and procedures designed to assure compliance with accounting standards and applicable laws and regulations. Furthermore, the Audit Committee’s considerations, efforts and discussions referred to above do not assure that the audit of the Company’s financial statements has been carried out in accordance with generally accepted auditing standards, that the financial statements are presented in accordance with generally accepted accounting principles or that Deloitte is in fact independent.

The Audit Committee
Jeffrey R. Speed,George A. Barrios, Chair
Steve Pamon
Stuart U. Goldfarb
Frank A. Riddick, IIIMichelle R. McKenna

PROPOSAL 3—ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION

We are asking stockholders for a non-binding vote to approve the compensation for our named executive officers. As an advisory vote, this proposal is not binding upon the Company. However, the Compensation & Human Capital Committee, which is responsible for designing and administering the Company’s executive compensation program, values the opinions expressed by stockholders and will continue to consider the outcome of the vote when making future compensation decisions for named executive officers.

As required by SEC compensation disclosure rules, we have described our executive compensation program in the “Executive Compensation” section of this proxy statement (which disclosure includes the “Compensation Discussion and Analysis,” the compensation tables and the narrative disclosures that accompany the compensation tables).

The Company’s goal for its executive compensation program is to attract, motivate and retain a talented and creative team of executives who provide leadership for the Company and drive success across our numerous competitive revenue streams. We seek to accomplish this goal of rewarding performance while remaining aligned with the Company’s stockholders’ long-term interests. We want to avoid rewarding inappropriate risk taking. The Company believes that its executive compensation program satisfies this goal.

Our Board of Directors strongly endorses the Company’s executive compensation program and recommends that stockholders vote in favor of the following resolution:

RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed in this proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission, which disclosure shall include the “Compensation Discussion and Analysis” section and the related compensation tables and narrative disclosures, is hereby APPROVED.

PROPOSAL 4—ADVISORY VOTE ON FREQUENCY OF ADVISORY
VOTE ON EXECUTIVE COMPENSATION

We are required to include a separate non-binding vote on whether the type of non-binding vote on executive compensation included in Proposal 3 should occur every one, two or three years. Stockholders have the option to vote for any one of the three alternatives, or to abstain on the matter.

The Company believes that an advisory vote on executive compensation should be conducted every year so that stockholders will have a regular and frequent opportunity to express their views on the Company’s executive compensation program. Stockholders are not voting to approve or disapprove of the recommendation of the Board of Directors.

The frequency of vote chosen by a plurality of the shares present in person or represented by proxy and entitled to vote on this proposal at the 2023 Annual Meeting of Stockholders will be the one approved by stockholders. This means that the option for holding an advisory vote on executive compensation every one year, two years or three years receiving the greatest number of votes will be considered the preferred frequency of the stockholders. Although this advisory vote is non-binding, the Board of Directors will take into account the outcome of the vote when making future decisions about the frequency of the advisory vote on execute compensation.

The Board of Directors recommends that stockholders vote to hold an advisory vote on executive compensation ANNUALLY.

RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed in this proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission, which disclosure shall include the “Compensation Discussion and Analysis” section and the related compensation tables and narrative disclosures, is hereby APPROVED.

STOCKHOLDER PROPOSALS FOR 20192024 ANNUAL MEETING

Stockholder proposals for inclusion in our proxy materials for our 20192024 Annual Meeting must be received at the Company’s principal executive offices, 1241 East Main Street, Stamford, CT 06902 Attention: Corporate Secretary on or before November 9, 2018.December 5, 2023. Under our By-laws, any stockholder proposal received afterfor consideration at our 2024 Annual meeting, but not for inclusion in our proxy materials for that datemeeting, will be considered timely for purposes of the 20192024 Annual Meeting only if the stockholder provides our Corporate Secretary notice of the proposal no earlier than January 21, 2019,February 15, 2024, and not later than February 18, 2019;March 17, 2024; provided that if the 20192024 Annual Meeting is held on or before April 4, 2019,May 1, 2024, our Corporate Secretary must receive a stockholder’s notice no later than the close of business on the fifth business day following the day on which we make a public announcement of the meeting date.

“HOUSEHOLDING” OF PROXY MATERIALS

The SEC has adopted rules that permit companies and intermediaries such as brokers to satisfy delivery requirements for proxy materials with respect to two or more stockholders sharing the same address by delivering a single set of proxy materials addressed to those stockholders. This process, which is commonly referred to as “householding,” potentially provides extra convenience for stockholders and cost savings for companies. The Company and some brokers household proxy materials, delivering a single proxy statement or Notice to multiple stockholders sharing an address unless contrary instructions have been received from the affected stockholders. Once you have received notice from your broker or us that they or we will be householding materials to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in householding and would prefer


to receive a separate set of proxy materials or if you are receiving multiple copies of the proxy materials and wish to receive only one, please notify your broker if your shares are held in a brokerage account or, us if you hold registered shares. Youshares, you can notify us by sending a written request to WWE,at 1241 East Main Street, Stamford, CT 06902, Attention: Corporate Secretary or by telephoningyou can make a telephone request toof our Corporate Secretary at (203) 352-8600.

OTHER MATTERS

The Board of Directors knows of no other matters to present at the Annual Meeting. If any other matter is properly brought before the Annual Meeting, the persons named as proxies will exercise their discretionary authority to vote on such matters in accordance with their best judgment.A copy of the 20172022 Annual Report (which includes our Form 10-K for the year) is available on the website that is accessible as provided in the Notice. A copy is being sent with this Proxy Statement to all stockholders who requested them as provided in the Notice. Our Annual Report on Form 10-K for the year ended December 31, 20172022 is also available on our corporate website at corporate.wwe.com. We will also mail a copy of the Form 10-K to each record and beneficial owner of our securities without charge upon written request to us at 1241 East Main Street, Stamford, CT 06902; Attention: Corporate Secretary. To register for electronic delivery for future mailings, you can go to proxyvote.com.

By Order of the Board of Directors,

Blake T. Bilstad
SVP, General Counsel & Secretary

WORLD WRESTLING ENTERTAINMENT, INC.

1241 EAST MAIN STREET

STAMFORD, CT 06902

ATTN: INVESTOR RELATIONS



 

WORLD WRESTLING ENTERTAINMENT, INC.

1241 EAST MAIN STREET

STAMFORD, CT 06902

ATTN: INVESTOR RELATIONS

VOTE BY INTERNET -www.proxyvote.com

Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.

ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS

If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years.

VOTE BY PHONE - 1-800-690-6903

Use any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions.

VOTE BY MAIL

Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.

 

VOTE BY INTERNET

Before The Meeting - Go to www.proxyvote.com or scan the QR Barcode above

Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.

During The Meeting - Go to www.virtualshareholdermeeting.com/WWE2023

You may attend the meeting via the Internet and vote during the meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions.

VOTE BY PHONE - 1-800-690-6903

Use any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions.

VOTE BY MAIL

Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
E38338-P01715                      V09826-P91879KEEP THIS PORTION FOR YOUR RECORDS
 DETACH AND RETURN THIS PORTION ONLY

THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.

WORLD WRESTLING ENTERTAINMENT, INC.For
All
Withhold
All
For All
Except

To withhold authority to vote for any individual nominee(s), mark “For"For All Except”Except" and write the number(s) of the nominee(s) on the line below.

   
 The Board of Directors recommends you vote FOR the following:AllAllExcept  
1.      Election of Directors     
  
1.Election of Directorsooo
Nominees:
        
  

01)   01)  

Vincent K. McMahon

02)   

05)   Steve Koonin
02)Nick Khan06)   Michelle R. McKenna
03)  Paul Levesque07)   Steve Pamon
04)George A. Barrios

03)

08)   Michelle D. Wilson

04)   Stephanie McMahon Levesque

05)   Paul Levesque

06)   Stuart U. Goldfarb

07)   Patricia A. Gottesman

08)   Laureen Ong

09)   Robyn W. Peterson

10)   Frank A. Riddick, III

11)   Jeffrey R. Speed

The Board of Directors recommends you vote FOR the following Proposals:ForAgainstAbstain
2.Ratification of Deloitte & Touche LLP as our Independent Registered Public Accounting Firm.ooo
3.Advisory vote to approve Executive Compensation.ooo
The Board of Directors recommends you vote 1 year on the following proposal:1 Year2 Years3 YearsAbstain
4.Advisory vote on frequency of the advisory vote on Executive Compensation.oooo
NOTE: Such other business as may properly come before the meeting or any adjournment thereof.
        
           

    For Against Abstain
       
 2.      Ratification of Deloitte & Touche LLP as our Independent Registered Public Accounting Firm. 
       
 3.      Advisory vote to approve Executive Compensation. 
       
 NOTE:Such other business as may properly come before the meeting or any adjournment thereof.    



Foraddress changes and/or comments, please check this box and write them on the backwhere indicated.  
Please indicate if you plan to attend this meeting.    
  YesNo
    
 Please sign exactly as name appears hereon. When shares are held by joint tenants, both should sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such.   

       
 Signature [PLEASE SIGN WITHIN BOX]Date Signature (Joint Owners)Date 




Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:

The Notice and Proxy Statement and Annual Report are available at www.proxyvote.com.

V09827-P91879

E38339-P01715

 

PROXY/VOTING INSTRUCTION CARD


WORLD WRESTLING ENTERTAINMENT, INC.


ANNUAL MEETING TO BE HELD ON APRIL 19, 2018MAY 18, 2023 AT 10:1:00 A.M.P.M. EASTERN TIME


FOR HOLDERS AS OF FEBRUARYMARCH 21, 2018
2023

This proxy is solicited on behalf of the Board of Directors

By signing this card, I (we) hereby authorize GEORGENICK KHAN and FRANK A. BARRIOS and BLAKE T. BILSTAD,RIDDICK, III, or either of them, each with full power to appoint hishis/her substitute, to vote as Proxy for me (us) at WWE's Annual Meeting of Stockholders to be held virtually on May 18, 2023 at WWE's Headquarter, 1241 East Main Street, Stamford, Connecticut 06902, on Thursday, April 19, 2018 at 10:1:00 a.m.p.m. Eastern Time, or any adjournment thereof, the number of shares which I (we) would be entitled to vote if personally present. The proxies shall vote subject to the directions indicated on the reverse side of this card and proxies are authorized to vote in their discretion upon such other business as may properly come before the meeting and any adjournments thereof.

By signing this card, I (we) instruct the proxies to vote as the Board of Directors recommends where I (we) do not specify a choice.

Address Changes/Comments:

(If you noted any Address Changes/Comments above, please mark corresponding box on the reverse side.)

 

Continued and to be signed on reverse side