Ari Emanuel Poised to Pocket $3.5 Million in Latest Sale of Endeavor Group Shares

thewrap.com:

regulatory filing Monday that said he was selling nearly 155,000 shares. The form was dated Saturday, after the stock closed Friday’s trading session at $22.55, which would bring the sale total to around $3.48 million.The stock, which is basically flat for the year, was trading at $22.38 at midday Tuesday.

It was not clear from the filings if the sale has yet gone through.Endeavor stock saw a slight dip in early April when the company announced that its UFC will combine with Worldwide Wrestling Entertainment, a deal praised by Wall Street that nevertheless left investors unenthused.A few weeks later, investors cheered Endeavor’s announcement that it would sell global sports education institution IMG Academy to a unit of private equity firm EQT, in an all-cash deal valued at $1.25 billion.Emanuel made a series of moves at the time, after the announcement pushed the stock to its peak for the year, a regulatory filing shows.Emanuel vested, or acquired, 951,389 shares that he had received as part of his compensation for running the company on May 3.

The shares were worth about $23.8 million. Vesting those shares triggered the automatic sale of two large blocks of shares in the following days to cover the related taxes.

One sale saw 300,000 shares go on May 4 for $24.66 per share, for a total of over $7.5 million. The second was a series of sales on May 5 that totaled 187,542 shares for an average price of $24.94, or roughly $4.7 million.The company did not immediately respond to a request for more information about the latest sale.Emanuel’s 2022 compensation was over $19 million, according to the company’s proxy statement.