The New York Post has revealed that WWE executive Stephanie McMahon has been selling off her stock this year to finance the construction of a new home for her family.
According to documents filed with the SEC, McMahon has sold a total of 833,000 shares of WWE stock during 43 separate occasions, netting her approximately $8.3 million.
As part of of the selloff, she converted nearly 1.3 million shares of McMahon Family Class B stock into common Class A stock, which was then cashed in.
When asked about Stephanie selling off her WWE stock, WWE issued the following statement:
“Stephanie McMahon is selling a portion of her Class B shares for personal financial purposes that include building a house.”
Stephanie sold approximately one-third of her stake in WWE stock this year.