Paul Levesque - Sep 12, 2023 Form 4 Insider Report for WORLD WRESTLING ENTERTAINMENT, LLC (WWE)

Role: Chief Content Officer, Director
Signature: /s/ Paul Levesque
Stock symbol: WWE
Transactions as of: Sep 12, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/12/2023, 04:53 PM
Previous filing: Jul 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WWE	Class A Common Stock	Award		+11.6K	+13.45%		97.7K	Sep 12, 2023	Direct	F1, F4
transaction	WWE	Class A Common Stock	Disposed to Issuer		-52.7K	-53.93%		45K	Sep 12, 2023	Direct	F2
transaction	WWE	Class A Common Stock	Disposed to Issuer		-45.2K	-100%		0	Sep 12, 2023	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Paul Levesque is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	In connection with the closing of the transactions under the Transaction Agreement, dated as of April 2, 2023 (the "Transaction Agreement"), among World Wrestling Entertainment, LLC (f/k/a World Wrestling Entertainment, Inc., "WWE"), Endeavor Group Holdings, Inc., Endeavor Operating Company, LLC, TKO Operating Company, LLC (f/k/a Zuffa Parent, LLC), TKO Group Holdings, Inc. (f/k/a New Whale Inc., "TKO") and Whale Merger Sub Inc., WWE performance stock units ("PSUs"), which were granted in February 2023, subject to financial and/or operational performance goals, were equitably adjusted into time-based WWE restricted stock units ("RSUs") at target level, subject to vesting over three years. Each WWE RSU reflects the right to receive one share of WWE Class A common stock following vesting.
F2	Pursuant to the Transaction Agreement, each share of WWE Class A common stock was converted into the right to receive one share of TKO Class A common stock.
F3	Pursuant to the Transaction Agreement, each outstanding award of WWE RSUs was converted into an award of TKO's RSUs, on the same terms and conditions as were applicable under the original WWE RSUs immediately prior to the effective time of the conversion (including any provisions for acceleration) on a one-to-one basis.
F4	Also includes shares acquired under the Company's ESPP and/or dividend accruals, all of which are exempt under Section 16. Mr. Levesque may also be deemed to be the indirect beneficial owner of shares of WWE common stock that are directly owned by his wife, Stephanie Levesque. Mr. Levesque disclaims beneficial ownership of those shares.