In an SEC notice published on Friday afternoon, it was revealed that WWE President Nick Khan has registered to sell all of his shares in TKO  Group Holdings Inc., the parent company of WWE and UFC.

Khan registered to sell all of the 234,424 Class A Common Shares he holds in the company, including 180,530 shares that he has earned as part of restricted stock awards but have not yet vested. At market price as of Friday afternoon, Khan’s proceeds would total nearly $23 Million USD.

In addition to Khan, another long-time WWE director Steven R Koonin has registered to sell 3,508 shares, representing approximately 75% of his holdings. The notice also reiterated the previously-announced registration for sale of all of the shares held by former WWE CEO Vince McMahon.

It is unclear if the decision to sell his shares portends any other intentions by Khan with respect to his role within the company, either as a member of TKO’s Board of Directors or as WWE President.

Recently, TKO Group has laid off some long-time WWE employees, and senior leadership of the company has indicated its intention to find additional cost-savings that could be explored as a result of the WWE-UFC merge. It is noted that Khan was recently-identified as one of the “Corporate Officers” who was named in the lawsuit filed against Vince McMahon for alleged sexual criminal activity.

Stay tuned to for any developments.

EDITOR’S NOTE: Post-publication, the headline was modified to be less speculative on Nick Khan’s status with the company; he remains with WWE.