You are currently viewing Latest filings with the Securities and Exchange Commission confirm the resignation of members of the WWE Board of Directors due to Vince’s return

Latest filings with the Securities and Exchange Commission confirm the resignation of members of the WWE Board of Directors due to Vince’s return


WWE.com

It also reveals how much money Shane McMahon has made not working in the past year.

WWE introduced Form 8-K to the US Securities and Exchange Commission on January 11.

The document again refers to the written approval Vince McMahon executed last Friday to remove three members of WWE’s board of directors, replace them with himself and two loyal former associates, and change the company’s bylaws to ensure his approval of any media. Rights deals or sale of the company.

By the way, written consent is the basis for the investor’s lawsuit against McMahon today.

Mostly, the recording confirms what we already know about Vince’s return, which resulted in him taking back the CEO position on the board, and the resignation of co-CEO Stephanie McMahon. Among what has been confirmed is that the two independent directors who resigned after the written consent came into effect – Ignace Lahoud and Man Jeet Singh – did so because they opposed the return of the elder McMahon:

“While Messrs. LaHood and Singh agreed with the board’s decision to explore strategic alternatives for the company, they did not agree with Mr. McMahon’s return at this time.”

There has been much informed speculation about Lahoud and Singh’s exit, mostly based on Lahoud’s role on the board’s audit committee and Singh’s role, among other things, as lead investigator into Vince’s financial and sexual misconduct scandals. But we know now.

We also know that the majority of the current board members are employees of the company. WWE has “elected to take advantage of the ‘controlled company’ being exempted from the listing requirement under New York Stock Exchange rules which stipulate that the majority of the board of directors are made up of independent directors”. WWE “expects” that she will not need the waiver after January 30th. The stated reason is that they plan to name more outsiders to the board by then. Could anything else happen by the end of the month that would cause Vince not to have to comply with NYSE rules?

Regardless, K-8 reveals Shane McMahon’s latest compensation. Although he was sent home after January Royal Rumble – The only game he worked on last year – Shane earned $828,000 as an independent contractor in 2022.

I’m not sure what to do with this information, but there it is.


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