Sunday, April 24, 2011

Weicker-WWE Split Was Reported April 7 by Don Michak of Manchester Journal Inquirer

[posted 4/19/11 to]

Following up on my previous item, the story of Lowell Weicker’s departure from the WWE board was actually broken on April 7 by the Manchester Journal Inquirer, in a piece by reporter Don Michak scrutinizing the company’s recent Securities and Exchange Commission filing. Journal Inquirer work, in general, gets undervalued in the blogosphere because most of the newspaper’s content is behind a paywall online.

Michak noted that Weicker, a WWE director since the company went public in 1999, is not standing for reelection at the April 29 annual stockholders’ meeting.

Weicker collected an annual retainer from the company, plus fees for attending board meetings and chairing the compensation committee. Last year Weicker received an $80,000 retainer, a $12,000 fee for the compensation committee, and either $1,500 or $500 for each board meeting (depending on whether he attended it in person or joined it by conference call). As of March 4, Weicker and his wife together held 3,282 shares of WWE’s unrestricted Class A common stock.

Irv Muchnick

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