Stephanie Sells Stock
Stephanie McMahon filed a form 8-K this week to start selling a maximum of 609,733 shares of her WWE stock from her trust. The sales will begin on August 10th and will expire at the end of the 2015 calender year. Below is the filing from the document:
On May 27, 2015, the Stephanie McMahon Levesque Trust u/a Vincent K. McMahon Irrev. Trust dtd. 6/24/04 (the “Trust”) adopted a 10b5-1 stock trading plan. The plan provides for the sale of shares of Class B common stock (“Class B Shares”) of World Wrestling Entertainment, Inc. (the “Company”) held by the Trust. Stephanie McMahon, the Company’s Chief Brand Officer and a director of the Company, is the sole beneficiary and investment director of the Trust. Under the plan, beginning on August 10, 2015, a brokerage firm will be authorized to sell a certain number of Class B Shares periodically provided the price per share is above certain levels. The plan expires on December 31, 2015. The maximum number of Class B Shares that can be sold over the duration of the plan is 609,733 shares. In connection with the sales, the Class B Shares will be converted into shares of the Company’s Class A common stock.
The foregoing trading plan is intended to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policy. Rule 10b5-1 allows individuals who are not in possession of material, non-public information at the time a stock trading plan is adopted to establish prearranged written plans to buy or sell a specified number of shares of a company’s stock. The foregoing trading plan contains certain pre-determined minimum price conditions in order for trading to occur. The plan provides for sales spread out over a set period of time with the goals of gradually diversifying the individual’s investment portfolio, while maintaining such individual’s compliance with the Company’s stock ownership guidelines and limiting market impact from such stock sales.
Transactions under the foregoing trading plan will be disclosed publicly through Form 4 and Form 144 filings with the Securities and Exchange Commission, to the extent required by law.
The Rock Crushing Hollywood
Source: Variety
The Rock’s new movie, San Andreas, grossed $18.2 million on Friday. This was the opening night of the film.
Variety is estimating that the film will make $47 million, which would be the biggest opening for The Rock not including the Fast & Furious franchise.
Early estimates had the movie at about $40 million for the opening.
