Vince McMahon stepped down from all of his positions at TKO earlier this year, including his role as Executive Chairman and member of the TKO Board of Directors.
Nevertheless, McMahon continues to hold TKO stock. His departure is linked to the Janel Grant lawsuit, which contains serious accusations from the former WWE employee. However, McMahon is no longer in a position of power within TKO or WWE.
McMahon is still a shareholder in TKO, and an SEC regulatory filing confirms this. The SEC Form 13G indicates that McMahon owned 8,021,405 shares as of September 30.
This filing is necessary because McMahon’s ownership exceeds 5% of a particular class of stock, which mandates disclosure. His shares represent 9.88% of class A stock, while his total ownership of TKO shares remains below 5%. Most notably, he holds no voting rights.
As we previously reported here on eWn, McMahon is establishing a new “entertainment hub company” to financially support, develop, and produce film and television projects. It is believed there are no intentions to create anything akin to WWE, as the company’s focus will be on fiction and non-fiction projects.
