Posted on 4/08/124 by Colin Vassallo
Vince McMahon’s stake in TKO continued to diminish after the
former WWE Chairman and CEO has agreed to sell 1,642,970 TKO
shares to Endeavor and 1,853,724 TKO shares to TKO Group
Holdings for a price of $89.01 per share.
The transactions are expected to close on April 9 and April
10 respectively according to documents filed with the United
States Securities and Exchange Commission and will give Vince
McMahon a total of $311,240,732.
With these sales, McMahon’s ownership of TKO shares will go
below 5% and according to regulations, McMahon no longer has
to record future sales with the SEC.
McMahon, who served as the TKO Executive Chairman of the
Board, resigned in January of this year and made more than
$1.5 billion in stock transactions.