Vince McMahon Gives Up $2.7 Million In WWE Stock
The 76-year-old remains WWE's majority shareholder despite his retirement as Chairman & CEO.
Vince McMahon has forfeited around $2.7 million worth of WWE shares following his retirement as the promotion's Chairman and CEO.
The 76-year-old's departure was announced last week, with a new SEC filing revealing the stock forfeiture was effective as of 22 July 2022 - the day of his public retirement announcement. Said filing is available here.
That $2.7 million comes from 38,519 shares given up by Vince. This is, however, a small number relative to his remaining stack in the company. As pointed out by Wrestlenomics' Brandon Thurston, McMahon still owns 28.7 million shares in the promotion:-
Vince McMahon forfeit a small number of shares (relative to his ownership) Friday, due to retirement, which were unvested stock units. The 38,519 shares have a market value of $2.7 million. He still has 28.7 million shares.
38,519 = 0.1% of Vince's WWE ownership pic.twitter.com/U53xFSbIFN
Advertisement— Brandon Thurston (@BrandonThurston) July 26, 2022
Vince relinquished all WWE duties upon retiring last week. Despite this, he remains the company's majority shareholder, though enduring speculation that WWE was preparing for a sale sparked back up following McMahon's retirement announcement.
A series of Wall Street Journal reports in June saw McMahon hit with allegations of sexual misconduct, with Vince said to have paid upwards of $12 million to suppress accusations stemming from extramarital affairs. WWE confirmed on Monday that it was to restate several financial reports after finding McMahon had paid out $14.6 million in "Unrecorded Expenses" since 2016.