WWE CEO Vince McMahon Sells 1.55 Million Shares in Estate Move
- Stock is valued at about $32.5 million based on current prices
- Executive says he plans no more sales, intends to stay on job
Vince McMahon.
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Vince McMahon, chief executive officer of Worldwide Wrestling Entertainment Inc., sold 1.55 million shares of Class A stock in the company as part of his estate planning, a transaction worth about $32.5 million at current prices.
The stock, held by a trust, represents about 2 percent of total Class A and Class B shares of the company, WWE said Thursday in a regulatory filing. McMahon, 71, told the Stamford, Connecticut-based company he has no plans to sell more shares and intends to continue as chairman and chief executive officer for the foreseeable future.