The Rock’s Massive Equity Deal Revealed in TKO SEC Filing

TLDR

TKO's latest SEC filing revealed details of WWE's financial agreement with Dwayne Johnson, including his January 2024 appointment to the TKO Board and a corresponding DJ Services Agreement. Under the deal, WWE assigned "The Rock" trademark and related intellectual property to Johnson through one of his affiliates, who then licensed it back to WWE for up to 10 years, while Johnson received an RSU award valued at $30 million. The company paid Johnson $0.9 million in annual royalties for both 2024 and 2025, along with travel expense reimbursements totaling $2.6 million in 2024 and $0.6 million in 2025.