Vince McMahon sells 1.54 million shares of WWE stock
Vince McMahon sold just over 1.54 million shares of Class A common stock of the WWE on Wednesday, according to an SEC filing.
The full amount of money McMahon received for the sale of his shares is not known, but the WWE’s stock price closed at $20.97 per share on Wednesday, meaning McMahon’s sale would have generated $32.44 million at closing price.
WrestleZone located the SEC filing on McMahon’s stock sale, which describes the financial transaction as being done for liquidity and asset diversification reasons.
While McMahon no longer has any Class A shares of WWE stock, he still owns 35.5 million shares of Class B 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.”
McMahon, 71, plans to continue as the company’s chairman and CEO.