Vince McMahon Forfeited WWE Stock Following Retirement

Vince McMahon disposed 38,519 of his shares of World Wrestling Entertainment stock at $0 following his recent retirement announcement last Friday (July 22), according to a new SEC filing shared on WWE’s official corporate website Tuesday (July 26).

An explanation of responses in the filing states that the sale, “consists of a portion of unvested stock units previously reported in Table I which were forfeited by Mr. McMahon in connection with his retirement from the Company effective July 22, 2022.”

The filing confirmed, however, that McMahon still owns 69,157 shares of stock, which “excludes 100 shares of Class A Common Stock owned individually by Mr. McMahon’s wife, Linda McMahon.”

An SEC filing on Monday (July 25) revealed that WWE had disclosed $14.6 million in previously unrecorded expenses paid by McMahon, previously its top shareholder, three days after his official retirement announcement and amid an ongoing investigation into claims of sexual misconduct.

The company also hinted that the allegations against McMahon, which have been independently overseen by its board, are also being investigated by other entities.

“The Company has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters,” WWE said in the SEC filing.

Earlier this month, the Wall Street Journal, which exclusively reported WWE’s investigation a $3 million hush-money settlement paid by McMahon to a woman over an alleged affair, reported that the 76-year-old paid more than $12 million in hush money to four women during the past 16 years in an effort to suppress allegations of sexual misconduct and infidelity.

McMahon remains WWE’s largest shareholder with approximately 32% stake in the sports entertainment company.

McMahon officially announced his retirement in an official statement shared by the company on Friday, confirming his daughter, acting chairwoman and CEO Stephanie McMahon, and WWE President Nick Khan, would take over as co-CEOs amid his departure.

On Monday, Wrestling Observer‘s Dave Meltzer reported McMahon’s son-in-law, PaulTriple HLevesque, will be leading WWE creative, according to an email sent to WWE employees.

- Advertisment -

Must Read

Ex-Torrance Police Officer Gets Probation in Child Pornography Case

0
LOS ANGELES (CNS) - A former Torrance police officer was sentenced to a year on probation Wednesday for a misdemeanor charge of possessing child...
- Advertisment -