Yesterday, the Stephanie McMahon Levesque Trust filed Form 8-K with the Securities and Exchange Commission authorizing a brokerage firm to sell a number of WWE Class B shares periodically starting August 10, 2015.
The shares for McMahon will be sold when the price per share is above certain levels with the plan expiring on December 31, 2015.
The maximum number of Class B shares that can be sold over the duration of the plan is 609,733 shares. In connection with the sales, the Class B Shares will be converted into shares of the Company’s Class A common stock.
At yesterday’s value of $14.30, the 609,733 shares have a value of over $8 million.