Brandon Thurston Assesses Nick Khan's Recent WWE Stock Sale

On Monday, TKO Group Holdings shared a new filing disclosing that WWE President Nick Khan sold 22,693 shares in the company, at an estimated market value of $2,394,846.54. The move raised some eyebrows given the ongoing story of Vince McMahon selling his own shares in TKO throughout the year amidst a federal sex trafficking investigation; however, writing on the matter for Wrestlenomics, journalist Brandon Thurston reported that the stock sale was made to pay for Khan's tax burden. 

Thurston noted that "in-kind" transactions used to cover tax payments have been filed for WWE executives in July previously. In fact, such a transaction was filed for Khan at almost the exact same time last year, as he shifted 25,231 shares on July 21. Thurston believes Khan may be the only member of the company required to disclose the transaction this year, suggesting there could be an arrangement specific to WWE executives tenured prior to the September 2023 merger of WWE and UFC into TKO.

In April, a filing disclosed that all of Khan's shares are listed for sale, alongside McMahon's and fellow TKO board member Steve Koonin's, so there's a chance there will be further transactions in the near future. After the sale recorded Monday, Khan reportedly has 211,731 shares remaining at an estimated market value of $22.4 million. No stock sales have been made by him outside of those made for tax coverage, per Thurston.

Khan was brought to WWE from the Creative Arts Agency in August 2020 after being credited for brokering the broadcasting deal between McMahon's promotion and NBCUniversal in 2019. The Co-Head of Television at CAA, he reported directly to McMahon prior to his transition into his new role as WWE President and Chief Revenue Officer. He replaced McMahon after his 2022 resignation alongside Stephanie McMahon as Co-CEO, returning to his role as President following the TKO merger.