Recent Securities and Exchange Commission (SEC) filings suggest that Vince McMahon, the former prominent figure behind WWE and still a notable TKO stockholder, is nearing the end of his tenure as a shareholder. McMahon, alongside other TKO board members, has listed a substantial portion of his shares for sale. This move marks the latest development in McMahon’s ongoing divestment strategy, which commenced in November 2023.
McMahon, former WWE CEO and TKO board member, has made 8,021,405 of his shares available for sale, constituting his entire remaining stake in the company. Other board members, such as Nick Khan and Steven Koonin, have also listed some shares for sale, albeit in smaller quantities.
While the shares are listed for sale, it does not guarantee that all shares will be sold by the respective holders.
Brandon Thurston notes that registering the shares for sale could potentially facilitate better deals and smoother transactions for McMahon, Khan, and Koonin.
With TKO’s closing share price at $98 on Friday, Vince McMahon’s current stock value stands at over $786 million. McMahon’s recent divestment activities have been substantial, totaling more than $1.5 billion from various transactions since November 2023.
Timeline of McMahon’s Stock Liquidation:
In November 2023, McMahon sold approximately 30% of his TKO stock, amounting to 8.4 million shares, for nearly $700 million.
In March 2024, McMahon further reduced his holdings by selling 25% of his remaining stock for $408 million.
Another transaction in March involved McMahon selling nearly 3.5 million shares for $100 million to Morgan Stanley, completing a margin loan transaction initiated in March 2020.
Transition from Executive Role:
McMahon, aged 78, relinquished his position as TKO executive chairman in January amid allegations of s*x trafficking and s*xual assault brought forth by former WWE employee Janel Grant.
Conclusion:
Vince McMahon’s ongoing divestment of TKO shares signals a significant transition in his relationship with the company, potentially marking the end of his tenure as a major stockholder. These developments come amidst legal challenges and corporate restructuring, shaping the future landscape of TKO and McMahon’s involvement in the business world.
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