A new filing published Friday evening shows that all 8,021,405 TKO shares that still belong to Vince McMahon have been registered for sale. That doesn’t mean they’re sold yet, though.
Additionally, 234,424 shares held by WWE President Nick Khan and another 3,508 shares held by TKO Board member Steve Koonin are also registered for sale.
The fact that the shares are registered for sale doesn’t mean that they’ll necessarily be selling all the shares, although they might. And the rate at which McMahon has liquidated millions of shares in recent months suggests he might be looking for a pathway to sell off his ownership completely.
Registering the shares for sale allows the public to buy them and therefore might allow McMahon, Khan, and Koonin to get a better deal and to complete any transactions with less administrative friction.
No timeline is placed on when the shares may be sold.
The filing states: “Nick Khan and Steven R. Koonin, who are directors of TKO, and Vincent K. McMahon will be selling stockholders and may from time to time offer and sell any or all of their respective shares of Class A common stock set forth below pursuant to this prospectus.”
Any stock transactions involving Khan or Koonin will need to be disclosed as long as they’re both serving as Board members for TKO, as required by the SEC.
Vince McMahon, though, is no longer a Board member or an executive with the company. He now only holds 4.7% of all TKO shares. When he was still holding more than 5% of the company, his transactions had to be reported publicly. But since his multiple stock sales since November 2023, his ownership percentage has fallen below the 5% threshold which is important for reporting requirements.
However, McMahon currently owns 9.9% of class A TKO shares. There are two classes of TKO stock. Class A shares are basically the former WWE shares, which represent about 48% of TKO. The rest of the company consists of class B shares held by Endeavor.
Because McMahon holds more than 5% of TKO’s class A shares, he may be required to continue to file 13D or 13G forms on certain occasions.
The filing also mentions that TKO has no plans to pay a dividend to shareholders.
“We do not currently anticipate declaring or paying any other cash dividends to holders of our Class A common stock in the foreseeable future,” the filing reads.
WWE, before it was merged into TKO in September, paid a quarterly dividend of 12 cents per quarter.
TKO shares closed today at $98.00, which means McMahon’s remaining shares have a market value of $786 million. He’s already sold nearly $1.5 billion in stock since November. The 234,424 shares registered for sale by Khan have a market value of $23 million. And Koonin’s 3,508 shares that were registered have a value of $343,784.
In addition to serving on the TKO Board, and the WWE Board before that, Koonin works full-time as the CEO of the Atlanta Hawks and State Farm Arena.
Brandon Thurston has written about wrestling business since 2015. He operates and owns Wrestlenomics.