{"id":19598,"date":"2016-05-16T23:58:15","date_gmt":"2016-05-17T04:58:15","guid":{"rendered":"http:\/\/www.pwtorch.com\/site\/?p=19598"},"modified":"2016-06-16T02:53:51","modified_gmt":"2016-06-16T07:53:51","slug":"vince-mcmahon-sells-2-0-million-shares-wwe-stock","status":"publish","type":"post","link":"https:\/\/www.pwtorch.com\/site\/2016\/05\/16\/vince-mcmahon-sells-2-0-million-shares-wwe-stock\/","title":{"rendered":"Vince McMahon sells more than 2.0 million shares of WWE stock on Monday, informs company of future plans, UPDATE &#8211; Sales Price disclosed"},"content":{"rendered":"<div id=\"pwtor-3872401325\" class=\"pwtor-before-content pwtor-entity-placement\"><hr \/><b>SPOTLIGHTED PODCAST ALERT (YOUR ARTICLE BEGINS A FEW INCHES DOWN)... <\/b>\r\n\r\n<iframe src=\"https:\/\/widget.spreaker.com\/player?show_id=3076978&theme=light&playlist=false&playlist-continuous=false&autoplay=false&live-autoplay=false&chapters-image=true&episode_image_position=right&hide-logo=false&hide-likes=false&hide-comments=false&hide-sharing=false&hide-download=true\" width=\"100%\" height=\"140px\" frameborder=\"0\"><\/iframe>\r\n<hr \/><\/div><p><strong>Update:\u00a0<\/strong>The <a href=\"http:\/\/www.reuters.com\/article\/idUSFWN18D0YF\" target=\"_blank\">Reuters news service picked up on McMahon&#8217;s stock transaction Monday<\/a>. Reuters noted that McMahon informed WWE that he intends\u00a0to continue in his executive role &#8220;for the foreseeable future.&#8221;<\/p>\n<p>The SEC filing was released Monday evening after the stock market closed.\u00a0The stock was down 3.7\u00a0percent in after-hours trading on Monday night. It will be interesting to see how the market reacts on Tuesday.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-19670\" src=\"http:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/post\/2016\/05\/WWEStockAfterhoursMay16.png\" alt=\"WWEStockAfterhoursMay16\" width=\"465\" height=\"141\" srcset=\"https:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/post\/2016\/05\/WWEStockAfterhoursMay16.png 465w, https:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/post\/2016\/05\/WWEStockAfterhoursMay16-300x91.png 300w\" sizes=\"auto, (max-width: 465px) 100vw, 465px\" \/>***<\/p>\n<p>WWE CEO Vince McMahon cashed out more than 2.0 million shares of Class A common WWE Stock on Monday (May 16) for purposes of estate planning.<\/p>\n<p><a href=\"http:\/\/ir.corporate.wwe.com\/Cache\/c34350508.html\" target=\"_blank\">WWE filed an SEC document on Monday<\/a> disclosing the &#8220;block trade&#8221; transaction allowing McMahon to sell a large number of shares.<\/p>\n<p><strong>Update:\u00a0<\/strong>WWE did not disclose what the sales price was.\u00a0<a href=\"http:\/\/ir.corporate.wwe.com\/Cache\/c34372818.html\" target=\"_blank\">In a follow-up SEC filing on Tuesday<\/a>, WWE disclosed the sales price of $16.50 per share, translating to gross proceeds of $36.2 million.<\/p>\n<p>The transaction was completed under the Vincent K. McMahon 2013 Irrevocable Trust, which was established by McMahon &#8220;for estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon&#8217;s Family.&#8221; <a href=\"http:\/\/ir.corporate.wwe.com\/ShowFile.aspx?KeyFile=34372823&amp;Format=XML&amp;Output=XML\" target=\"_blank\">The beneficiary identified in Tuesday&#8217;s SEC filing is Linda McMahon<\/a>.<\/p>\n<p>The block trade represented a sale of about six percent of WWE&#8217;s outstanding Class A common stock.<\/p><div id=\"pwtor-1933851535\" class=\"pwtor-content pwtor-entity-placement\"><div align=\"center\" data-freestar-ad=\"__336x280 __336x280\" id=\"pwtorchcom_test_300x250\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"pwtorchcom_test_300x250\", slotId: \"pwtorchcom_test_300x250\" });\r\n  <\/script>\r\n<\/div><\/div>\n<p>WWE noted the sale was &#8220;executed for liquidity and asset diversification&#8221; purposes, not pointing to a future sale of the company. Although, McMahon&#8217;s overall ownership interest in the company went from majority shareholder to just under 50 percent.<\/p>\n<p>After the sale, McMahon beneficially owns more than 37 million shares of Class B McMahon Family stock, or &#8220;86 percent\u00a0of the Company\u2019s total voting power and approximately\u00a048.8 percent\u00a0of the Company\u2019s total outstanding shares of common stock.&#8221;<\/p>\n<p>The trust itself still owns 1.547 million shares of Class B common stock.<\/p>\n<p>&#8211; WWE disclosed a key item at the end of the\u00a0filing\u00a0that &#8220;Mr. McMahon informed the Company that he has no current plans to sell any shares of the Company\u2019s stock and that he intends to continue in his capacity as the Company\u2019s Chairman and Chief Executive Officer for the foreseeable future.&#8221;<\/p>\n<div class=\"pwtor-end-article-groups pwtor-entity-placement\" id=\"pwtor-1173422549\"><div id=\"pwtor-2627941461\"><div align=\"center\" data-freestar-ad=\"__336x280\" id=\"pwtorchcom_medrec_3\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"pwtorchcom_medrec_3\", slotId: \"pwtorchcom_medrec_3\" });\r\n  <\/script>\r\n<\/div>\r\n\r\nTHANK YOU FOR VISITING<\/div><\/div>","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Update:\u00a0The Reuters news service picked up on McMahon&#8217;s stock transaction Monday. Reuters noted that McMahon informed WWE that he intends\u00a0to continue in his executive role &#8220;for the foreseeable future.&#8221; The SEC filing was released Monday <a class=\"mh-excerpt-more\" href=\"https:\/\/www.pwtorch.com\/site\/2016\/05\/16\/vince-mcmahon-sells-2-0-million-shares-wwe-stock\/\" title=\"Vince McMahon sells more than 2.0 million shares of WWE stock on Monday, informs company of future plans, UPDATE &#8211; Sales Price disclosed\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":1925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[184,71,236,706],"class_list":["post-19598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_wwe","tag-vince-mcmahon","tag-wwe","tag-wwe-stock","tag-wwe-stock-track"],"jetpack_featured_media_url":"https:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/2015\/10\/McMahongym_3x2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/19598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/comments?post=19598"}],"version-history":[{"count":7,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/19598\/revisions"}],"predecessor-version":[{"id":19740,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/19598\/revisions\/19740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media\/1925"}],"wp:attachment":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media?parent=19598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/categories?post=19598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/tags?post=19598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}