WWE President Nick Khan Puts All TKO Shares Up For Sale
With Vince McMahon putting all of his TKO shares up for sale, it has emerged that WWE President Nick Khan has done exactly the same.
Vince McMahon has been accused of sexual assault and sex trafficking as part of a lawsuit that rocked WWE. As a result, Vince McMahon was told to resign as Executive Chairman of TKO with WWE moving into a new era.
In November 2023, Vince McMahon sold millions of TKO shares and he followed this up in March with a stock deal that netted him $100 million. However, a deal sealed in early April with WWE’s new owners puts the size of those sales firmly in the shade.
In an SEC filing now made on the 12th of April, three shareholders have made stock available for sale. Vince McMahon has made available 8,021,405 shares, which is notable as that is all the shares in the company that he still holds.
WWE President Nick Khan Mirrors Vince McMahon Stock Move
Brandon Thurston of Wrestlenomics has followed up on his report on Vince McMahon listing all of his shares for sale and points out that WWE President Nick Khan did the same on the same date:
We reported on April 12 that all of Vince McMahon’s remaining TKO shares were being registered for sale. That was a preliminary filing, of which the final version was published today. All of Nick Khan’s shares are also registered for sale, as well as many of Board member Steve Koonin’s shares.
Unclear if all of said shares will definitely be sold or not. And given Vince now hold less than 5% of TKO, unclear if there will be filings recording his transactions from this point forward. Because Nick and Koonin are board members, there will be filings. Nick got an enormous amount of equity as part of his employment contract. This gives him the ability to liquidate some or all of that.
Following the Endeavor takeover of WWE, Nick Khan was made WWE President after spending time as the company’s CEO. Khan took on the co-CEO role with Stephanie McMahon after Vince McMahon’s initial retirement in July 2022 with Stephanie resigning from the company when her father forced his way back in January 2023.