New documents filed by WWE on Tuesday with the Securities and Exchange commission (SEC) indicates an across-the-board sell-off of WWE stock by major insider holders.
The significant sellers included Kevin Dunn, executive VP of TV production, who sold 10,698 shares on the open market for a value of $171,274. In the same filing, he acquired 50,000 shares of WWE stock that will yield a value depending on "performance, vesting, and forfeiture provisions."
WWE COO Michael Sileck sold 8,364 shares at $16.01 for a value of $133,907. In June, he sold 18,811 shares for a total value of $336,528 when the stock price was $17.89.
Over the last two years, WWE Films division president Joel Simon had only sold stock once prior to this week. Documents filed on Tuesday indicate he disposed of approximately 14 percent of his stock for $103,952.
Other significant sellers were Shane and Stephanie McMahon, who only disposed of 224 and 209 shares, respectively. John Laurinaitis, VP of Talent Relations, sold 4,779 shares for a value of $76,511.
The price of WWE stock dipped below $16.00 per share at the close of business on Tuesday for the first time since June 29, when the stock was impacted by the Chris Benoit story.
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