Vince McMahon Sells Another 3.5 Million Shares of TKO Stock

Vince McMahon has sold a new hefty batch of his TKO stock, according to an SEC filing. TKO filed the paperwork on Thursday noting that McMahon sold an additional 3.484 million shares of the company’s stock. McMahon sold 5.35 million shares earlier this month.

Following the sale, McMahon still owns 11.518 million shares which means he has unloaded approximately 44% of his stock. The filing reads:

“On March 24, 2020, the Reporting Person entered into a variable prepaid forward sale agreement (the “Agreement”) with an unaffiliated bank (the “Bank”) relating to 3,484,006 shares of the Issuer’s Class A common stock and obligating the Reporting Person to deliver to the Bank up to 3,484,006 shares of the Issuer’s Class A common stock (or, at the Reporting Person’s election, under certain circumstances, an equivalent amount of cash) to settle the Agreement. On March 1, 2024, the Reporting Person and the Bank amended the Agreement to provide that the Agreement would be fully settled by the Reporting Person’s delivery of 3,484,006 shares of the Issuer’s Class A common stock to the Bank.

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.”