Long-time WWE executive Kevin Dunn sold off $2,171,750.00 worth of stock on September 6th, according to recent SEC Filings. Dunn serves as Executive Vice President of Television Production for WWE since 2008 and has been with the company since the early 1980’s. The stock was sold at an average price of $86.87.
On July 30th, Dunn sold $7,918,000.00 worth of stock, sold at an average price of $79.18. For those of you wondering, Dunn is not going anywhere. He still holds almost 190,000 shares.
Last December, Vince McMahon sold over $100 million worth of stock. The belief at the time was that he did so in preparation for the re-launch of the XFL.
WWE’s stock has reached an all-time high this year after it was announced that they had signed new TV deals with NBCUniversal to keep Monday Night Raw on the USA Network and Fox Sports to move Smackdown Live to Friday nights on the Fox Network. It’s expected that the stock will continue to climb as WWE increases their revenue streams. They are also getting big money from their shows in Saudi Arabia, a deal that extends 10 years.
WWE’s stock price opened at $90.11 today.