-

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 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!

LATEST NEWS

Mike Tyson helps The Inner Circle in battle against The Pinnacle

Boxing legend Mike Tyson appeared on Dynamite last night and got physical by joining an unlikely rival: Chris Jericho.Tyson...

New NXT champions crowned on night one of Takeover: Stand & Deliver

Io Shirai's 304-day reign as NXT Women's champion came to a screeching halt last night on the first night...

NXT Takeover: Stand & Deliver night one results

Here are the results from night one of NXT Takeover: Stand & Deliver which took place live from the...
spot_img

Stories you might also likeRELATED
Recommended to you