Vince McMahon’s Stock in WWE is gone… for now.
In the new SEC Filing, Vince McMahon has disposed of 38519 shares of WWE stock at $0. The filing notes the disposed of stock “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.” But, Vince still owns 69157 shares of stock, which excludes 100 shares of Class A Common Stock owned individually by Mr. McMahon’s wife, Linda McMahon. Vince is still listed at 10% owner on the filing.
For context, a beneficial owner is (1.) A person who enjoys the benefits of ownership even though the stock is not directly owned in his/her name.
For example, I may change the title of my stock to a trust, or a foundation, or an LLC, but still, maintain the benefit of ownership as a trustee or beneficiary or both. (2.) A person (individually or as part of group) who has the power to vote on shares, or who wields influence over a shareholder’s vote. Therefore, in terms of McMahon’s case, (1.) 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. (2.) Excludes 100 shares of Class A Common Stock owned individually by Mr. McMahon’s wife, Linda McMahon. Mr. McMahon disclaims beneficial ownership of those shares.
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