WWE Merger Litigation: $147.5 Million Automatic Payments

Can I leave the settlement?

No. The notice says the Court certified this as a non-opt-out class, so there is no option to exclude yourself.

• The settlement is a non-opt-out class action. That means class members cannot exclude themselves from it.
• If the settlement is approved and becomes effective, class members will be bound by the Court’s judgment and the settlement’s release of certain claims related to the WWE merger.

How will my payment amount be calculated?

Eligible class members share the Net Settlement Fund in proportion to their eligible WWE Class A shares. The notice does not state a final per-share payment amount.

• The payment amount is not a fixed dollar amount per person or per share.
• The Net Settlement Fund will be divided by the total number of Eligible Shares held by all eligible class members. Your payment is that per-share amount multiplied by your number of Eligible Shares.
• The final fund is reduced by notice and administration costs, taxes, any Court-approved attorneys’ fees and expenses, incentive awards, and other Court-approved costs.

Where would an automatic payment go?

The payment method depends on how the eligible shares were held at the merger closing.

• For shares held through a broker in street name, the broker is responsible for depositing the payment into the same brokerage account that received the merger consideration.
• For eligible shares held directly in a record-holder position other than through Cede & Co., the Settlement Administrator will pay the eligible record holder directly.

What if I bought or sold WWE shares shortly before the merger but the trade had not settled?

The notice assigns eligibility for these non-settled shares to the purchaser, not the seller.

• The buyer is treated as the eligible class member for shares bought before the merger closing if the purchase had not settled by closing.
• The seller is not treated as eligible for those same unsettled shares.

How do I object or ask to speak at the hearing?

A written objection is required. Simply appearing at the hearing is not enough. The notice gives filing and service instructions and addresses for the Court and counsel.

• You may object to the proposed settlement, the proposed plan for distributing the fund, or the request for attorneys’ fees, expenses, and incentive awards.
• Your written objection must be received by November 16, 2026. It must identify the case, give your contact information, be signed, explain your specific reasons, and include documents showing that you are a class member.
• To ask to speak at the hearing, you must also timely file and serve a notice of appearance. The Court decides whether to allow oral argument.

When will payments be sent?

There is no payment date in the notice. Court approval alone does not set a distribution date.

• The case will not distribute the Net Settlement Fund unless the Court approves the settlement and the settlement’s Effective Date occurs.
• The notice says payments will be made after any appeals are resolved.
• The notice does not give a specific date for distribution.

Could attorneys’ fees reduce the amount available for payments?

Yes. Any fee and expense award approved by the Court would be paid from the Settlement Fund, which affects the Net Settlement Fund available for distribution.

• Plaintiffs’ Counsel plan to request attorneys’ fees and litigation expenses of up to 33% of the Settlement Fund.
• The two named plaintiffs may each request an incentive award of up to $5,000. Any such awards would come only from the attorneys’ fee and expense award.
• The Court will decide the amounts. Class members are not personally responsible for these fees or expenses.

What does the notice ask brokers or other nominees to do?

The notice includes separate delivery instructions for institutions or people holding shares for someone else.

• A broker or other nominee that held WWE Class A shares for other people at the merger closing is asked either to forward the notice to beneficial owners or provide their names and addresses to the Settlement Administrator.
• The notice sets a seven-calendar-day timeframe after the nominee receives the notice for either option.
• A nominee that fully follows these directions may request reimbursement for reasonable expenses, with supporting documentation.

What claims would I give up if the settlement becomes effective?

The release is tied to the merger-related matters described in the lawsuits and to ownership of WWE common stock at the closing. It also covers unknown claims within that defined scope.

• The settlement would release claims that class members asserted, or could have asserted, concerning the allegations, transactions, facts, events, disclosures, representations, or omissions described in the complaints and their ownership of WWE common stock at the merger closing.
• The release includes unknown claims—claims a class member does not know about when the release takes effect.
• Claims to enforce the settlement are excluded from the release.