SPOTLIGHTED PODCAST ALERT (YOUR ARTICLE BEGINS A FEW INCHES DOWN)...
WWE executive Stephanie McMahon’s stock trading plan expired at the beginning of December when all 609,733 shares were sold for gross proceeds of more than $11 million.
But, Stephanie is not out of WWE shares.
WWE released an SEC disclosure on Tuesday noting that Stephanie has access to almost two million more shares through a second Vince McMahon trust.
The stock plan that ran from August until December was from the “Stephanie McMahon Levesque Trust U/A Vincent K. McMahon Irrev. Trust dtd. 6/24/04.”
The second trust is the “Stephanie McMahon Levesque Trust u/a Vincent K. McMahon Irrev. Trust dtd. 12/23/2008.” This trust ives Stephanie access to 1,849,393 shares, or about 5.1 percent of Class B McMahon Family stock.
WWE did not announce whether those shares will be converted to Class A common stock in a new trading plan. The SEC filing on Tuesday was simply to disclose that Stephanie has more than 5 percent ownership interest through the second trust.
Stephanie also has access to her husband, Triple H’s, 63,527 shares of Class A common stock.
Therefore, Stephanie has access to 1,912,920 total shares, or about 5.3 percent of outstanding stock, according to WWE’s calculations.
Overall for WWE, the company disclosed that as of October 29, there were 34,215,459 shares of Class A common stock outstanding, and 41,688,704 shares of Class B common stock outstanding. Having more Class B family stock maintains the McMahons’s standing as the majority shareholders of the company.