WWE Announce Details Of Separation Agreement With Former CFO

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New details have emerged regarding the exit of Chief Financial Officer Kristina Salen from WWE just one day after she appeared on an earnings conference call.

Kristina Salen was on the most recent earnings report conference call as the company’s executive team gave details on the financial state of WWE for this quarter. Just one day later Salen was the victim of ongoing budget cuts in the company as she was let go from her contract.

Now Brandon Thurston of Wrestlenomics has reported on the settlement between Salen and WWE that the company has made public. The separation agreement states that Salen will be paid for the next 12 months:

“WWE disclosed former CFO Kristina Salen and the company have made a separation agreement. She will receive her base pay and health insurance for 12 months. She will be paid $413k for forfeited stock units and is eligible for est performance bonus of $431k.”

The full WWE statement reads:

“On November 23, 2021, World Wrestling Entertainment, Inc. (the “Company”) entered into a separation agreement with Kristina Salen, formerly the Company’s Chief Financial Officer, in connection with her previously announced departure from the Company (the “Separation Agreement).”

“Under the terms of the Separation Agreement, Ms. Salen will receive a continuation of base salary and health insurance coverage for a period of twelve months. She will be paid cash in the amount of $413,000 for certain forfeited restricted stock units and will be eligible for a payment in respect of her incentive bonus for 2021 to be determined by the Compensation Committee of the Company’s Board of Directors and currently estimated at $431,200, in each case payable on or before March 31, 2022.”

“All payments are subject to applicable employment or tax withholding and deductions. The Separation Agreement contains other standard provisions, including maintaining Ms. Salen’s intellectual property, confidentiality and non-solicitation obligations.”