{"id":5397,"date":"2015-12-11T15:49:41","date_gmt":"2015-12-11T21:49:41","guid":{"rendered":"http:\/\/www.pwtorch.com\/site\/?p=5397"},"modified":"2015-12-11T16:03:07","modified_gmt":"2015-12-11T22:03:07","slug":"5397","status":"publish","type":"post","link":"https:\/\/www.pwtorch.com\/site\/2015\/12\/11\/5397\/","title":{"rendered":"WWE files SEC document on McMahon Family estate planning"},"content":{"rendered":"<div id=\"pwtor-3828922454\" 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><a href=\"http:\/\/ir.corporate.wwe.com\/ShowFile.aspx?KeyFile=32213982&amp;Format=XML&amp;Output=XML#F4\" target=\"_blank\">WWE filed an SEC document<\/a> on Friday disclosing estate planning involving WWE stock and\u00a0the McMahon Family.<\/p>\n<p>The lengthy filing, plus <a href=\"http:\/\/ir.corporate.wwe.com\/Cache\/c32214103.html\" target=\"_blank\">a second disclosure<\/a>, notes that Vince McMahon was granted 2,209,773 shares of Class B McMahon Family Stock from\u00a0a trust titled &#8220;Vincent K. McMahon 2013 Irrev. Trust U\/A dtd. December 5, 2013.&#8221;<\/p>\n<p>The transaction dated December 7 and finalized Dec. 11 is\u00a0part of Vince being\u00a0due an annual annuity payment over the three-year term of the trust that he established.<\/p>\n<p>The trust now holds 3,739,266 shares of Class B Common Stock after disbursing\u00a0the 2.2 million shares\u00a0to Vince.<\/p>\n<p>Linda McMahon is the trustee of the trust, so Vince and Linda co-filed the SEC document. They disclosed that Vince established the trust &#8220;for the benefit of Mr. McMahon and certain members of Mr. McMahon&#8217;s family to hold a portion of the shares of Class B Common Stock previously owned directly by Mr. McMahon.&#8221;<\/p>\n<p>Linda has &#8220;sole voting power and authority&#8221; and each has &#8220;unilateral power and authority to sell&#8221; the shares, converting to Class A common stock.<\/p>\n<p>Linda McMahon, herself, owns 566,670 Class B Common Stock independent of the trust. Because she also has access to the trust&#8217;s shares, she now owns 11.2\u00a0percent\u00a0of WWE stock.<\/p>\n<p>Meanwhile, the trust owns 9.9 percent of WWE stock.<\/p><div id=\"pwtor-4043624049\" 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 was required to make the filings because the distribution to Vince &#8220;reduced the ownership of Class B Common Stock by each of the Reporting Persons (Linda and the trust) by greater than 1 percent of the outstanding Class B Common Stock.&#8221;<\/p>\n<p>The filing also notes what happens when the trust expires.\u00a0From the filing: &#8220;On the termination of the (trust), after annuity distributions to Mr. McMahon (or his estate), any remaining trust shares of Class B Common Stock or other property will under certain circumstances pass to successor trusts for other members of Mr. McMahon&#8217;s family.&#8221;<\/p>\n<p>Of note,\u00a0Linda is the official owner of the trust under the business name\u00a0of\u00a0&#8220;McMahon Ventures, LLC,&#8221; which with an address on Washington Blvd. in Stamford, Conn., about two miles away from WWE Corporate HQ on Main Street in Stamford.<\/p>\n<div class=\"pwtor-end-article-groups pwtor-entity-placement\" id=\"pwtor-3640317997\"><div id=\"pwtor-3115410788\"><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>WWE filed an SEC document on Friday disclosing estate planning involving WWE stock and\u00a0the McMahon Family. The lengthy filing, plus a second disclosure, notes that Vince McMahon was granted 2,209,773 shares of Class B McMahon <a class=\"mh-excerpt-more\" href=\"https:\/\/www.pwtorch.com\/site\/2015\/12\/11\/5397\/\" title=\"WWE files SEC document on McMahon Family estate planning\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":1239,"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":[721,1304,184,71],"class_list":["post-5397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_wwe","tag-linda-mcmahon","tag-mcmahon-ventures","tag-vince-mcmahon","tag-wwe"],"jetpack_featured_media_url":"https:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/2015\/10\/WWELogo_3x2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/5397","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=5397"}],"version-history":[{"count":3,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/5397\/revisions"}],"predecessor-version":[{"id":5400,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/5397\/revisions\/5400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media\/1239"}],"wp:attachment":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media?parent=5397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/categories?post=5397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/tags?post=5397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}