---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-233577"
form_type: "8-K"
ticker: null
cik: "0001766363"
company_name: "Endeavor Group Holdings, Inc."
filed_at: "2023-09-12T23:59:59+00:00"
generated_at: "2026-06-10T21:16:12.159367+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Endeavor closes WWE-UFC combination; TKO now operating; 51%/49% ownership split

## Summary
- Transaction closed Sept 12, 2023; Endeavor units own 51% voting & economic of TKO; former WWE holders own 49%.
- Governance agreement: McMahon/WWE designees control board until sunset; Endeavor designees while >20% voting power.
- Ariel Emanuel appointed CEO of TKO with $3M base salary, $20M transaction bonus, $40M one-time equity award.
- Mark Shapiro appointed President/COO of TKO; employment term expires one year from closing.

## SEC filing metadata
- accession: 0001193125-23-233577
- form_type: 8-K
- cik: 0001766363
- company_name: Endeavor Group Holdings, Inc.
- filed_at: 2023-09-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1766363/000119312523233577/0001193125-23-233577-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1766363/000119312523233577/d495817d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-233577
- JSON: https://secwatch.observer/filing/0001193125-23-233577.json
- Plain text: https://secwatch.observer/filing/0001193125-23-233577.txt

## Key facts
- Executive change
  Mark Shapiro was appointed as President and Chief Operating Officer at Endeavor Group Holdings, Inc..
  - Action: appointed
  - Role: President and Chief Operating Officer
  source text: Ariel Emanuel, the Company’s Chief Executive Officer, and Mark Shapiro, the Company’s President and Chief Operating Officer, were appointed to also serve as Chief Executive Officer, and President and Chief Operating Officer, respectively, and as members of the TKO Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766363/000119312523233577/0001193125-23-233577-index.htm
- Executive change
  Ariel Emanuel was appointed as Chief Executive Officer at Endeavor Group Holdings, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Ariel Emanuel, the Company’s Chief Executive Officer, and Mark Shapiro, the Company’s President and Chief Operating Officer, were appointed to also serve as Chief Executive Officer, and President and Chief Operating Officer, respectively, and as members of the TKO Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766363/000119312523233577/0001193125-23-233577-index.htm
- Material Agreements
  Endeavor Group Holdings, Inc. entered into TKO Operating Agreement with TKO OpCo valued at Fourth Amended and Restated Limited Liability Company Agreement of TKO OpCo (effective 2023-09-12).
  - Action: entry
  - Counterparty: TKO OpCo
  - Value: Fourth Amended and Restated Limited Liability Company Agreement of TKO OpCo
  - Effective: 2023-09-12
  source text: On the Closing Date, in connection with the Transactions, the Company, TKO and other subsidiaries of the Company entered into several agreements, including a Fourth Amended and Restated Limited Liability Company Agreement of TKO OpCo (the “TKO Operating Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766363/000119312523233577/0001193125-23-233577-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.