-

Vince McMahon sells 1.5 million WWE Class A common stock

In today’s WWE 8-K filing with the Securities and Exchange Commission it was revealed that Vince McMahon, Chairman and CEO of WWE sold 1,547,372 shares of Class A common stock of World Wrestling Entertainment, Inc., in a block trade.

The shares were sold from McMahon’s grantor retained annuity trust (GRAT) which was established for estate planning purposes for the benefit of himself and certain members of his family. Mr. McMahon has no further plans to sell shares of the company’s stock and that he intends to continue in his capacity as the Chairman and Chief Executive Officer for the foreseeable future.

The 1,547,372 shares sold represent approximately 2% of the Company’s total outstanding shares of Class A and Class B common stock. After the sale, Mr. McMahon beneficially owns 35,533,375 shares of the Company’s Class B common stock, which represents approximately 85% of the Company’s total voting power and approximately 46.5% of the Company’s total outstanding shares of common stock.

On August 15, WWE Executive Producer Kevin Dunn sold 56,000 WWE shares for a $387,173 payout.

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Dynamite TV Report for 03/27/2024

Venue: Videotron Centre, Quebec City, Canada ***** Will Ospreay vs Katsuyori Shibata Backstory: Ospreay wants to match/one-up Danielson who beat Shibata ten...

WWE on A&E block (2024) ratings for week 5

Week five of WWE on A&E featured WWE Rivals: Hardy Boyz vs Dudley Boyz vs Edge & Christian and...

Becky Lynch reveals she’s in her final two months of her WWE contract

Appearing on the MMA Hour with Ariel Helwani to promote her new book, Becky Lynch revealed that she is...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading