-

Vince McMahon sells over 2 million WWE shares

WWE Chairman and Chief Executive Officer Vince McMahon sold 2,191,894 shares of WWE’s Class A common stock, netting him nearly $40 million according to the 8-K document filed yesterday with the Securities and Exchange Commission.

The shares sold represent around 6% of the company’s outstanding shares of Class A common stock. McMahon owns 37,080,747 shares of the Company’s Class B common stock, around 86% of the Company’s total voting power and approximately 48.8% of the Company’s total outstanding shares of common stock.

The filing says that other than this sale, there are no plans to sell any more shares and intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future.

The reasoning behind the sale was listed as, “estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon’s family.”

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

NXT rating for 05/11/2021

The NXT audience didn't turn up this week with the show now doing the normal levels that they did...

Orange Cassidy knocked out on Dynamite, three-way match for AEW World title

Orange Cassidy was legit knocked out during his number one contender's match against Pac yesterday during Dynamite, resulting in...

Bobby Fish returns to NXT after five months

It's been several months since we have seen Bobby Fish on WWE television but the former NXT Tag Team...
spot_img