Vince McMahon sells over 3 million WWE shares for a $271 million windfall

03/27/2019

In an 8-K filing with the Securities and Exchange Commission today, it was revealed that WWE Chairman and CEO Vince McMahon unloaded 3,204,427 of WWE’s Class A common stock to continue funding his Alpha Entertainment LLC for the XFL.

WWE stocks closed the day at $84.87 so McMahon walked out with over $271 million. The shares sold by McMahon represent approximately 4.1% of the Company’s total outstanding shares of Class A and Class B common stock.

After the sale, McMahon beneficially owns 28,682,948 shares of the Company’s Class B common stock, which represents approximately 80.1% of the Company’s total voting power and approximately 36.8% of the Company’s total outstanding shares of common stock.

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Colin Vassallo https://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!