WWE senior vice president and general counsel James Langham informed the promotion's personnel that they were prohibited from trading company shares in the wake of Vince McMahon's retirement announcement.
"Please be advised that, in light of recent developments, the Company's trading window has closed effective immediately for all employees," a notice from Langham read. The notice, which detailed the ban of "any purchases or sales of Company securities," also noted that WWE employees should remain quiet about it.
Currently, there is reportedly no longer a ban on employees purchasing and selling company stock, per PWInsider. WWE employees were reportedly given the green light to freely trade company stock following the release of the firm's Q2 financial earnings report this week.
According to WWE's insider trading policy, employees who are "aware of material non-public information" are not allowed to trade, while "event-specific blackouts" of stock trading are not to be communicated to anybody other than those who are required to know about it.
WWE's New Management Keen On Restructuring How Certain Departments Are Run
Those events followed Vince McMahon's departure from WWE due to sexual misconduct claims involving non-disclosure agreements and undocumented hush money payments to former employees.
WWE's new management team consists of co-CEOs Stephanie McMahon and Nick Khan and creative director Paul "Triple H" Levesque. The business's promise in its most recent SEC filing to alter the way some departments work is evidence that the three have already begun changing the corporation as they see fit.
Meanwhile, WWE's share price continues to show strength even in the wake of McMahon's retirement and closed at $70.66 on Thursday.
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