Vince McMahon Sells 2.2 Million Shares of WWE Stock

– WWE announced in their latest SEC filing that Vince McMahon sold 2,191,894 shares of Class A common stock, or 6% of the company’s outstanding shares, today. McMahon sold the shares through the Vincent K. McMahon 2013 Irrev. Trust, which was established by him in 2013 “or estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon’s family.” The sale was done, according to the announcement, for liquidity and asset diversification.

The announcement notes that “After the sale, the GRAT continues to own 1,547,372 shares of the Company’s Class B common stock.” McMahon still owns 37,080,747 shares of the Company’s Class B common stock, which represents approximately 86% of the Company’s total voting power and approximately 48.8% of the Company’s total outstanding shares of common stock.