Kemo
03-29-2024, 08:12 AM
Vince McMahon was removed from WWE and the company is doing their best to wash him from their history. This all stems from Janel Grant's lawsuit going public, and he resigned from his role in WWE shortly after that. Now, he is getting out of the TKO business even more by selling off more shares.
Vince McMahon is selling even more TKO Stock as he just unloaded 3,484,006 more shares. This sale adds to the 5,350,000 shares he sold in early March.
Vince McMahon's mass selloff of TKO Stock continues as he unloaded 3,484,006 shares, as revealed in an SEC filing released by TKO today.
The filing details McMahon's sale agreement with an unaffiliated bank, obligating him to deliver up to 3,484,006 shares of TKO's Class A common stock to settle the agreement.
McMahon and the bank amended the agreement on March 1, 2024. The physical settlement, divided into 15 parts, concluded between March 5, 2024, and March 25, 2024, resulting in McMahon receiving approximately $100 million.
In early March, Vince McMahon also sold 5,350,000 TKO shares at $77 each, generating $411,950,000 from the transaction
Despite the recent sales, McMahon still retains ownership of roughly 11.5 million shares of TKO Group, indicating his continued interest in the company's performance and future prospects.
He still does not have enough stock to be able to arrange any sort of takeover like he did after his first retirement. We will have to see if WWE continues avoiding any mention of Mr. McMahon on television.
For what it's worth, TKO Group Holdings stock has shot up in recent memory. Many attribute that rise in value to their impending Netflix deal.
Vince McMahon is selling even more TKO Stock as he just unloaded 3,484,006 more shares. This sale adds to the 5,350,000 shares he sold in early March.
Vince McMahon's mass selloff of TKO Stock continues as he unloaded 3,484,006 shares, as revealed in an SEC filing released by TKO today.
The filing details McMahon's sale agreement with an unaffiliated bank, obligating him to deliver up to 3,484,006 shares of TKO's Class A common stock to settle the agreement.
McMahon and the bank amended the agreement on March 1, 2024. The physical settlement, divided into 15 parts, concluded between March 5, 2024, and March 25, 2024, resulting in McMahon receiving approximately $100 million.
In early March, Vince McMahon also sold 5,350,000 TKO shares at $77 each, generating $411,950,000 from the transaction
Despite the recent sales, McMahon still retains ownership of roughly 11.5 million shares of TKO Group, indicating his continued interest in the company's performance and future prospects.
He still does not have enough stock to be able to arrange any sort of takeover like he did after his first retirement. We will have to see if WWE continues avoiding any mention of Mr. McMahon on television.
For what it's worth, TKO Group Holdings stock has shot up in recent memory. Many attribute that rise in value to their impending Netflix deal.