Vince McMahon has officially sold his 8.4 million shares of TKO stock

As previously noted, a press release was issued in regards to Vince McMahon’s intentions to sell 8.4 million shares of his TKO stock.

On November 14th 2023, a new Changes in Beneficial Ownership filing indicated that McMahon sold his 8.4 million shares at the price of $76.41 per share with net proceeds coming out to $641,844,000. McMahon still holds 20,435,207 shares which is roughly 12% of the company.

Here is an excerpt from the filing…

Explanation of Responses:

(1) Pursuant to an underwriting agreement, dated November 9, 2023, among the Issuer, the underwriters listed on Schedule II thereto and the Reporting Person, the Reporting Person sold 8,400,000 shares of the Issuer’s Class A common stock in an underwritten secondary public offering, which closed on November 14, 2023. The shares were sold at a public offering price of $79.80 per share, and the Reporting Person paid an underwriting discount and commission of $3.39 per share, resulting in a net price of $76.41 per share.

(2) Includes 83,102 restricted stock units (“TKO RSUs”). Each TKO RSU represents a contingent right to receive one share of the Issuer’s Class A common stock.

(3) Excludes 100 shares of the Issuer’s Class A common stock owned individually by the Reporting Person’s wife, Linda McMahon. The Reporting Person disclaims beneficial ownership of those shares.