Former TKO executive chairman Vince McMahon has sold a percentage of his company stock worth more than $400 million.
TKO filed documents on Monday to confirm that McMahon was selling 5,350,000 of his Class A common shares with a market value of $411,950,000.00.
After the sale, McMahon still holds approximately 15 million shares of TKO stock, which represents about nine percent of TKO stock.
NEW FILING: Vince McMahon sells 5,350,000 TKO shares, a value of $412 million.
After the transaction, he has about 15 million shares, or about 9% of all TKO stock. pic.twitter.com/SropbXk5Dg
— Brandon Thurston (@BrandonThurston) March 5, 2024
During last Tuesday’s TKO earnings call, analyst Brandon Ross inquired about McMahon potentially selling more stock. TKO president Mark Shapiro responded, “We’re not having any 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. So we’re going to wait around and find out just like you.”
In January, Janel Grant filed a lawsuit where she alleged she was sexually assaulted, trafficked for sex, and experienced emotional abuse – naming Vince McMahon, John Laurinaitis, and WWE as defendants.
On January 26, McMahon resigned as executive chairman of TKO Group Holdings and had to forfeit approximately 87,000 unvested shares.
Last November, McMahon sold 8.4 million of his shares worth $670.3 million with TKO repurchasing $100 million worth of the shares. Upon the news of McMahon’s intent to sell in November, the TKO stock fell by six percent.
