Posted on 3/29/124 by Colin Vassallo
Vince McMahon has sold an additional 3,484,006 TKO shares
according to a filing with the United Sates Securities and
Exchange Commission.
The transaction was recorded on March 5 and says that
McMahon entered into a “variable prepaid forward sale
agreement with an unidentified bank” on March 24, 2020.
“The physical settlement contemplated by the Agreement were
divided into 15 components, each of the first 14 of which
were with respect to 232,267 shares of the Issuer’s Class A
common stock and the last of which was with respect to
232,268 shares of the Issuer’s Class A common stock, and
took place on each weekday between March 5, 2024 and March
25, 2024. Upon such physical settlement, the Reporting
Person received, in the aggregate, approximately $100
million from the Bank,” the SEC filing says.
McMahon has made three large transactions to sell TKO stocks
over the past few months as his involvement with the company
came to an end after he resigned in January.
The former WWE chief has received over $1 billion from these
sales.
McMahon still owns over 11 million worth of TKO shares which
at today’s value are worth just under $1 billion.