Vince McMahon selling approximately 25 percent of his TKO stock

Former TKO Group Holdings executive chairman Vince McMahon is selling roughly 25 percent of his remaining stock in the company. 

According to an SEC filing from Monday, McMahon is selling 5.35 million shares of TKO stock in a transaction being handled by Morgan Stanley Smith Barney. 

McMahon is expected to pocket more than $400 million from the sale. TKO stock closed on Monday at $81.67 a share. 

While the sale represents approximately 25 percent of the stock McMahon still owns in TKO, Dave Meltzer reports in Monday’s Daily Update that McMahon will still own roughly 8.3 percent of the company. Meltzer writes:

Vince McMahon today sold 5,350,000 shares of WWE stock, which is about 6.5 percent of the company, for $411.95 million. With the sale he now owns 8.3 percent of the company.

The 5.35 million shares represent approximately 6.5 percent of TKO Group Holdings shares. 

This latest transaction is the second major stock sale that McMahon has made over the last five months, as the disgraced former executive sold an additional 8.4 million shares worth roughly $700 million last November. 

McMahon resigned as executive chairman of TKO in January after being accused of sex trafficking and sexual assault in a lawsuit filed by a former WWE employee.