Vince McMahon, Triple H and other top WWE executives sell stock worth millions
Vince McMahon, Triple H, Stephanie McMahon, Kevin Dunn, and a few other executives have sold WWE stock amounting to roughly $2.5 million, based on multiple SEC filings.
Kevin Dunn, Executive Vice President (Television Production), sold the most stock as he got $1,008,884.34 for 21,809 shares.
WWE Chairman and CEO Vince McMahon sold 12,762 shares at $46.26 for which he pocketed around $590,370.
Triple H, Executive Vice President of Global Talent Strategy & Development of WWE, sold 10,628 shares at $46.26 for $491,651.
Stephanie McMahon, WWE's Chief Brand Officer (CBO), got $516,585 for 11,167 shares sold at $46.26 per share.
Executive Vice President Bradley Blum sold 6,735 shares, while WWE SVPs Brian Nurse and Mark Kowal disposed of 146 and 2,613 shares at $46.26 per share.
There was a note in the SEC filings that stated that the transactions included a portion of vesting stock units withheld by the company to pay withholding taxes priced at the close of business on July 20, 2020.
The Wrestlenomics Twitter handle also noted the same following the offloading of WWE stock by all the top executives mentioned above:
As usual around this time each year, WWE executives have their withholding taxes paid for out of "vesting stock units withheld by the Company" that are for such purposes. Proceeds amount to: Vince McMahon: $590,370, Stephanie McMahon-Levesque: $516,585, Paul Levesque: $491,651
WWE's upcoming second-quarter results conference call
WWE is scheduled to report its second-quarter results on Thursday, July 30, 2020. A conference call will be held, which will be hosted by interim Chief Financial Officer (CFO) Frank A. Riddick and WWE head honcho Vince McMahon.
The call will get underway at 5:00 PM et, and there will be many takeaways regarding the financial condition of the company.
WWE is currently running operations during a pandemic wherein shows are being taped at the WWE Performance Center. The company has taken various steps over the past few months to steady the ship from a financial standpoint during the pandemic, including extensive talent cuts and furloughs in April.
As always, the conference call will have detailed explanations from Vince McMahon about the various aspects of the business and how it affects the investors.