Unless you’re Ted DiBiase, the worlds of professional wrestling and high-net-wealth individuals rarely collide. But the latest round of stock sell-offs by WWE executives may put even ‘The Million Dollar Man’ to shame.
Just over a week ago, we reported that notable WWE higher-ups, including Triple H, Stephanie McMahon, and Kevin Dunn had shifted a combined $160 million worth of their WWE stock (otherwise known as a pittance to those with WrestleTalk stock options).
Now it appears that more WWE shares are changing hands. Separate filings submitted to the US Securities and Exchange Commission (SEC) yesterday revealed that WWE‘s Executive Vice-President of Television Productions, Kevin Dunn, and WWE’s Co-President, Michelle Wilson, have disposed of a further 100,000 and 140,000 shares respectively – equating to roughly one-third of their total holding.
The volume and timing of these sales come as a bit of a surprise, given that shares are ordinarily only sold to raise cash or if the shareholder anticipates an imminent decline in the share price. Considering that both Dunn and Wilson raised in excess of $10 million following last week’s sales and the generally positive outlook on the WWE share price, neither of those scenarios appear likely.
As always, WrestleTalk will continue to monitor the story and update you on any developments.
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