Item 2.02Results of Operations and Financial Condition.
On January 30, 2020, World Wrestling Entertainment, Inc. (the "Company") issued
a press release (the "Press Release") announcing that Company expects its full
year 2019 Adjusted OIBDA to be approximately $180 million, which is at the low
end of 2019 Adjusted OIBDA guidance of $180 million to $190 million previously
provided by the Company in its earnings release for the quarter ended September
30, 2019, a copy of which the Company furnished as an exhibit to its Current
Report on Form 8-K dated October 31, 2019 and which includes information
regarding the reconciliation of such non-GAAP financial measure to its most
directly comparable GAAP measure.
A copy of the Press Release is attached as Exhibit 99.1.
Item 5.02.Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Company's Press Release also announced the departures of Co-Presidents,
Michelle Wilson and George Barrios, from the Company effective as of January 30,
2020 and that they will no longer serve on the Company's Board of Directors.
In addition, the Company announced in the Press Release that Frank A. Riddick
III has been appointed to serve as the Company's interim Chief Financial
Officer, effective January 30, 2020. Mr. Riddick will continue to serve on the
Company's board of directors, although he will no longer serve on the Audit
Committee or Compensation Committee while serving as interim Chief Financial
Officer. The Company has commenced a search for a permanent Chief Financial
Officer. Biographical and other information, regarding Mr. Riddick is included
in the Company's proxy statement for the 2019 Annual Meeting of Stockholders,
filed with the Securities and Exchange Commission on March 5, 2019, and is
incorporated by reference herein. For his service as interim Chief Financial
Officer, Mr. Riddick will receive compensation of $66,666.67 payable every two
weeks. Mr. Riddick will not be eligible to receive health and welfare and other
benefits generally available to other executive officers of the Company.
Mr. Riddick has no family relationships with any director or executive officer
of the Company, and there are no arrangements or understandings with any person
pursuant to which he was selected as an officer or director of the Company. In
addition, there have been no transactions directly or indirectly involving Mr.
Riddick that would be required to be disclosed pursuant to Item 404(a) of
Regulation S-K under the Securities Exchange Act of 1934.
A copy of the Press Release is attached as Exhibit 99.1 to this Current Report
on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d)Exhibits
99.1 Press Release dated January 30, 2020 .
?
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
WORLD WRESTLING ENTERTAINMENT, INC. 
