Large number of WWE employees reportedly to receive a stock award
According to F4WOnline and Brandon Thurston at Wrestlenomics, who is citing multiple sources, took to Twitter on Thursday saying that a large number of WWE employees are receiving a $3000 stock award that vests in March.
Thurston noted not all WWE employees are receiving the award.
This news comes just a week after it was reported that WWE told employees there would be no raises, bonuses or promotions, causing unhappiness within the company. It is not known if the stock award is a result of announcement.
F4WOnline noted the reason for the decision to issue stock awards for the large number of employees was that WWE missed their stock price target despite record-setting revenues, and the recent new $1 billion deal for the WWE Network to move over to NBCUniversal’s Peacock streaming service beginning March 18.
In an unrelated report, according to an SEC filing, WWE President Nick Khan acquired 10,464 shares of WWE stock. The value of his shares at the close of the stock market Thursday was $494,633 ($47.27).
WWE employees have been given a stock award valued at $3,000, according multiple sources in the company. Not every employee received the award but a large number. The stock units vest next month.
Employees learned on Friday that salary raises and promotions were put on hold.
— Brandon Thurston (@BrandonThurston) February 18, 2021
WWE media relations did not immediately respond to a request for comment.
Many employees were upset about the freeze on raises and promotions, as noted in my story on Tuesday.https://t.co/rMoIzB0Z3i
— Brandon Thurston (@BrandonThurston) February 18, 2021