On May 16, WWE disclosed that CEO Vince McMahon – under his trust – cashed out more than 2.0 million shares of stock, translating to gross proceeds of $36.2 million. That left the trust with 1.547 million shares.

On Wednesday (August 17), McMahon’s trust cashed out the remaining 1.547 million shares, according to an SEC filing released by WWE.

WWE disclosed the full amount of 1,547,372 shares sold in a “block trade,” but did not disclose the sales price.

Update: WWE issued a follow-up SEC filing on Thursday disclosing the sales price of $19.32 per share for all shares sold.

So, 1,547,372 shares sold at $19.32 per share translates to $29.9 million in gross proceeds.

The two transactions on May 16 and August 17 add up to gross proceeds of $66.1 million from the trust.

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McMahon’s trust now owns no company stock. However, McMahon, individually, still owns 35,533,375 shares of Class B McMahon Family WWE stock.

WWE disclosed that the trust sale was “for estate planning purposes for the benefit of Mr. McMahon and certain members of Mr. McMahon’s Family.”

WWE further added that the trust sale “was executed for liquidity and asset diversification.”

Similar to the May filing, WWE disclosed a key item at the end of the filing that “Mr. McMahon has informed the Company that he has no current plans to sell any shares of the Company’s stock and that he intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future.”

Results of Stock Sale

The sale represented about 2.0 percent of WWE’s total outstanding shares of Class A and Class B common stock.

McMahon, individually, owns 35,533,375 shares of Class B McMahon Family stock.

McMahon’s stock represents about 85 percent of WWE’s total voting power, reduced from 86 percent in May.
McMahon’s stock represents about 46.5 percent of WWE’s total outstanding shares of common stock, reduced from 48.8 percent in May.