A new SEC filing (which was spotted by Wrestlenomics’ Chris Harrington) reveals that World Wrestling Entertainment Co-President George Barrios is looking to sell a sizable share of his stock in the company. Barrios has adopted a 10b5-1 stock trading plan, which will allow him to sell “an aggregate of up to 175,000″ shares of stock beginning November 27. At current stock prices (which is over $96), that will add up to over $16.9 million.
The SEC filing also says that World Wrestling Entertainment ” expects that Mr. Barrios will remain a significant stockholder and will be in full compliance with the Company’s stock ownership guidelines.” So, it doesn’t look like he’s planning to leave the company after getting this significant amount of money.
Barrios becomes the second WWE mainstay to make such a move in recent weeks, as Kevin Dunn has sold over $10 million in WWE stock.