Vince McMahon Ends WWE Ties by Selling Last of TKO Shares
WWE founder Vince McMahon is selling the last of his shares in TKO Group Holdings, a move that ends the executive’s association with the business he has worked in for more than 50 years.
TKO, which was formed with the purchase of WWE last year by Endeavor Group Holdings, filed a prospectus Friday afternoon showing that McMahon may sell up to 8.02 million shares he holds in the company, worth more than $776 million at TKO’s closing price of $96.76 Friday.
Also listed as a seller is WWE president Nick Khan, who has filed to also sell what appear to be all his holdings of 234,424 shares, an amount that includes restricted stock units which the executive has amassed. Khan remains in his position at the company, according to someone familiar with the transaction who requested not to be identified because they aren’t authorized to speak on his behalf.
In both cases, the filing makes the shares eligible for sale, but doesn’t mean they will be sold. In practice across the corporate world, such filings typically result in the sale of the listed shares shortly after.
A spokesperson for TKO Group declined to comment.
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