Gerrit Meier, Executive VP of WWE, sold off 1,398 shares today, according to a report on conferencecalltranscripts.org. The shares were sold off this morning at $10.52 per share. Meier still owns 17,029 shares.
Here is some additional information from the filing:
Consists of a portion of vesting stock units withheld by the Company to pay withholding taxes priced at the close of business on January 23, 2015 Includes 234 shares of dividend accruals and 1424 of Employee Stock Purchase Plan Shares which were not previously reported because such acquisitions are exempt under Section 16.
It’s not clear if this had to do with the backlash following last night’s pay-per-view or if he was going to sell the stock regardless. This is still bad timing and certainly not the type of news that WWE needs right now.
(Thanks to Rebecca R for her help).