In an SEC Filing on Monday, Vince McMahon sold 5,350,000 shares in his possession. The share value at the time of the sale was $411,950,000.
The form 144 is a notice required by the SEC prior to the sale. TKO stock was selling around $81 per share as of Monday night.
According to Forbes, McMahon has a net worth of $2.7 billion. McMahon was named in a lawsuit by Janel Grant for sexual assault and sexual trafficking. McMahon’s lawyers have not issued a formal legal response to the allegations, but they have denied the allegations. Still, TKO wanted him to resign due to pressure to oust McMahon.
The cashout might be seen as slowly liquidating assets (he still has 15 million shares) or a need for cash to pay for attorneys to defend him. Notably, McMahon sold $700 million worth of shares in November.
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