Vince McMahon’s stake in TKO continued to diminish after the former WWE Chairman and CEO has agreed to sell 1,642,970 TKO shares to Endeavor and 1,853,724 TKO shares to TKO Group Holdings for a price of $89.01 per share.
The transactions are expected to close on April 9 and April 10 respectively according to documents filed with the United States Securities and Exchange Commission and will give Vince McMahon a total of $311,240,732.
With these sales, McMahon’s ownership of TKO shares will go below 5% and according to regulations, McMahon no longer has to record future sales with the SEC.
McMahon, who served as the TKO Executive Chairman of the Board, resigned in January of this year and made more than $1.5 billion in stock transactions.
