Former WWE Chairman & CEO Vince McMahon forfeited 38,519 shares of unvested WWE stock today.
A new SEC filing by WWE revealed the forfeiture. The disposal is related to Vince’s retirement from the company, which was announced last week. The date of the transaction was July 22, and Vince signed off on it today, July 26.
The 38,519 shares had a market value of just under $2.7 million. The 38,519 shares are equal to about 0.1% of Vince’s WWE ownership.
Vince still owns 27.8 million shares of WWE stock, and retains his voting power.
Today’s filing also noted that Vince disclaims beneficial ownership of 100 shares owned individually by Linda McMahon.
As we’ve noted, it was initially revealed on Wednesday, June 15 that WWE’s Board of Directors had been investigating then-Chairman & CEO Vince over the “secret $3 million settlement” he made to a former paralegal that was hired in 2019. Then-Talent Relations head John Laurinaitis was also being investigated for his involvement, and it was revealed that the Board had been looking into other instances with former female employees as well. It was then announced on Friday, June 17 that Stephanie McMahon returned from her leave of absence to act as the Interim CEO & Interim Chairwoman after Vince voluntarily stepped away from his Chairman & CEO corporate duties, while still continuing his creative responsibilities, at least at that time. It was then revealed on Monday, June 20 that Bruce Prichard, WWE’s Senior Vice President and RAW/SmackDown Executive Producer, was working as the Interim Senior Vice President of Talent Relations, filling in for Laurinaitis during the investigation. It was then revealed on Friday, July 8, that McMahon agreed to pay more than $12 million in “hush money” to four women, including a former wrestler, as another round of allegations were made public. Prichard is no longer working the interim role as WWE announced on July 22 that Triple H is the new WWE Executive Vice President of Talent Relations. Vince’s retirement was announced hours after Triple H’s new role was revealed, and Vince was the first to confirm that Stephanie is the new Chairwoman & Co-CEO, along with Co-CEO Nick Khan. Laurinaitis is also believed to be gone from the company. WWE announced earlier this week on July 25 that Triple H is also the new head of creative. WWE also announced on July 25 that previous financial statements were being revised due to “certain unrecorded expenses” by Vince, in the amount of $14.6 million, which are the payouts to various women. WWE noted then that Vince was personally re-paying the amount. It was also revealed on July 25 that the federal government is investigating the McMahon payouts. You can find full details at the links below, including statements from Vince and Stephanie, full details on the anonymous e-mails that led to the investigations, the “hush money” pacts, and more.
Stay tuned to WrestlingHeadlines.com for more. Below are links to our various reports on the McMahon – Laurinaitis situation and the recent fallout.
FULL COVERAGE OF THE VINCE MCMAHON – JOHN LAURINAITIS ALLEGATIONS AND FALLOUT:
– Vince McMahon WWE Stock Update, Vince’s WWE Ownership, Linda McMahon Note
– USA Network Looks Ahead to Big WWE Changes, USA on Fan Reactions to Triple H Taking Over Creative
– Top WWE Stars Jab at Vince McMahon’s Retirement on RAW
– What Triple H Promised to WWE Talents In Pre-RAW Backstage Meeting, More Backstage Notes
– Vince McMahon Facing Additional Investigations?, More on Vince’s Exit from WWE
– WWE Restates Financial Statements Due to Unrecorded Vince McMahon Expenses, Vince to Pay Money Back
– Backstage News on Brock Lesnar Working WWE SmackDown After Walking Out Earlier
– Stephanie McMahon and WWE Fans Send “Thank You” Message to Vince McMahon
– Read Vince McMahon’s Full Retirement Letter Sent to WWE Employees
– Brock Lesnar Officially Pulled from WWE SmackDown
– WWE to Replace Brock Lesnar at SummerSlam?, More on Lesnar’s Reaction to Vince McMahon’s Retirement
– Backstage News on Vince McMahon’s Retirement, Stephanie McMahon and Nick Khan’s New WWE Roles, More
– Brock Lesnar Reportedly Leaves SmackDown, Upset Over Vince McMahon’s WWE Retirement
– Vince McMahon Retires from WWE
– Triple H at WWE SmackDown, Backstage Talk on Triple H’s New Role, Bruce Prichard Update, More
– WWE Announces Triple H’s New Executive Role, Triple H Comments
– Netflix Reportedly Pulls Vince McMahon Project, Millions of Dollars Spent
– WWE Issues Internal Statement on Latest Vince McMahon Allegations
– Vince McMahon Reportedly Paid Millions of Dollars In “Hush Money” to Former Wrestler and Others
– News on Who Made the Decision to Name Stephanie McMahon as WWE’s Interim CEO & Chairwoman
– Stephanie McMahon Addresses Investigation Into Her Father During WWE HQ Meeting
– How Much Value WWE Has Lost Since Vince McMahon Scandal Broke, WWE Ratings Up Due to Buzz?
– WWE Now Facing Multiple Potential Class Action Lawsuits
– Vince McMahon Makes Surprise WWE RAW Appearance to Hype Big Return
– More Details On Vince McMahon’s Mood, Backstage Atmosphere At Friday’s WWE SmackDown
– Vince McMahon Opens Tonight’s WWE SmackDown, Video of the Segment
– Stephanie McMahon Sends Message to WWE Staff After Today’s Huge Announcement
– Vince McMahon Announced for WWE SmackDown
– Pat McAfee Reacts to Vince McMahon Allegations, Thinks We Will Never Get the Truth
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