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WME Partners Finally Got To Sell 20% Of Stock This Week, And Many Took Advantage Of Post-IPO Opportunity At Endeavor
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deadline.comEXCLUSIVE: At WME, what a difference a year has made. Yesterday, many of the agency’s partners took advantage of an opportunity to sell 20% of their shares back to the company, based on the stock price derived from the agency’s recent IPO.
The stock of parent company Endeavor was at $28.60 a share. Now a public company, Endeavor would not comment, but my sources said that many took advantage, as the next chance to sell will be two years from now, at around 20%, and another liquidation event two years after that.
There are up to 180 partners — 25 new ones were minted late last year as full salaries were restored — and for the senior partners with the most shares, this is a serious cash windfall, in the millions dollars.
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