Vince McMahonthe founder of WWE WHO resigned from the board of directors of the TKO group Earlier this year, amid sexual assault allegations against him, he filed to sell TKO stock worth $411.95 million, according to a regulatory filing.
McMahon's sale included 5.35 million shares of TKO, p.a. SEC Filing Monday. It happened after he sold 8.4 million shares of TKO Class A common stock – on sale worth $670.3 million – last November.
At the end of 2023, McMahon held 20.35 million shares of TKO Groupclass A, meaning he still owns about 15 million shares. He was the longtime leader of WWE before its September 2023 merger with the Endeavor-owned UFC.
In January, Janel Grant, former WWE employee sued McMahon, WWE and former WWE executive John Laurinaitis. The lawsuit alleges that McMahon sexually abused and exploited her and also trafficked her to other men, including Laurinaitis.
A day after the lawsuit was filed, McMahon announced he was resigning from the TKO board of directors. However, he strongly denied the allegations contained in Grant's lawsuit.
“I stand by my previous statement that Ms. Grant's trial is filled with lies, made-up lewd instances that never happened and constitutes a vindictive distortion of the truth,” McMahon said in a statement. “I intend to vigorously defend myself against these baseless accusations and look forward to clearing my name.” »
McMahon's statement continued: “However, out of respect for the WWE Universe, the extraordinary business of TKO and its board members and shareholders, partners and constituents, and all employees and Superstars who have contributed to To build WWE into the global leader it is today, I have decided to resign as Executive Chairman and from the Board of Directors of TKO, effective immediately.
In a filing with the SEC last month, TKO revealed McMahon lost 86,918 shares of unvested stock units, valued at $7.5 million, after he resigned under pressure from the TKO board of directors.