Vince McMahon sells more than $300 million of stock to Endeavor & TKO

In what is becoming a recurring theme, Vince McMahon has continued to sell his stockpile of TKO stock with this round gaining some additional significance in terms of public reporting.

Announced via an SEC filing Monday morning, it was revealed that the former TKO/WWE chairman committed to selling over 1.64 million shares to TKO parent company Endeavor for $146.2 million and over 1.85 million shares to TKO for $165 million, both based on a share price of $89.01.

Agreed upon last Thursday, the Endeavor purchase is expected to close this Tuesday while the TKO purchase is expected to close this Wednesday.

After the anticipated sales, McMahon will have just over eight million total TKO shares and according to Wrestlenomics’ Brandon Thurston, that will put McMahon at 4.7% ownership of TKO. That is notable as once a stockholder owns under five percent of a publicly traded company, they no longer need to publicly file beneficial owner reports with the SEC.

It’s the fourth and fifth unique TKO stock sale instance McMahon has conducted since November:

• In November, McMahon sold approximately 30% of his stock (8.4 million shares) for nearly $700 million.
• The second came in March with McMahon selling 25% of his remaining stock for $408 million.
• The third also came in March with McMahon selling nearly 3.5 million shares for $100 million to Morgan Stanley to complete a margin loan transaction he took in March 2020.

In total, McMahon has brought in more than $1.5 billion from the various sales.

The 78-year-old resigned as TKO executive chairman this past January after being accused of sex trafficking and sexual assault in a lawsuit filed by former WWE employee Janel Grant.