Vince McMahon has sold off even more of his WWE stock.
As reported in the latest SEC filing from TKO Holdings, McMahon sold 5.35 million shares of Class A Common stock, equivalent to 6.5% of total company shares. With the share price closing at $81.67 on March 4th, McMahon is expected to receive over $400 million from the transaction. The sale represents a quarter of McMahon’s shares, meaning that his ownership of the company after the transaction is 8.3%.
While the 8.3% is still a substantial amount of stock for one investor to have, it is not enough for McMahon to have a major influence in making corporate changes at the top and his voting power has been further reduced.
This is not the first time that McMahon has sold a large amount of stock as he sold a large portion of shares back in November 2023. McMahon sold 8.3 million shares towards the end of 2023, which was valued at approximately $700 million.
While it is unknown why the sales took place, it should be noted that McMahon’s shares in the company were a topic for discussion at the most recent TKO Holdings investors call, which was the first call since Vince McMahon resigned from the company in light of disturbing allegations of sex trafficking and sexual assault. McMahon’s ownership of shares and significant power despite the controversial exit was asked by an investor during the call. TKO President Mark Shapiro responded as follows:
“Obviously, we’re talking about Vince McMahon, specifically, in terms of cashing stock. He still holds, I believe, 20 million shares. It’s all registered. He’ll do whatever he is going to do and we’re on the sidelines, we’ll have a look, we’ll see, we have no idea on timing. We’re not having a discussion with him. He’s given us no point of view on his motive or if he plans to sell or not sell or if he does, how much. We’re going to wait around and find out, just like you,”
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