The chief financial officer of\u00a0Trump Media\u00a0and two other corporate insiders sold more than $16 million worth of company\u00a0stock\u00a0in the week following the presidential election, according to new\u00a0disclosures.<\/p>\n
Most of the stock was sold by CFO\u00a0Phillip Juhan, who in August adopted a trading plan that revealed his intention to sell 400,000\u00a0DJT\u00a0shares by December 2025.<\/p>\n
Trump Media director\u00a0Eric Swider\u00a0and Scott Glabe, the company\u2019s general counsel, each sold fewer shares of the company, whose majority owner\u00a0Donald Trump\u00a0was elected\u00a0president\u00a0on Nov. 5.<\/p>\n
Trump Media, which operates the\u00a0Truth Social\u00a0app, has a market capitalization of $6.3 billion despite reporting\u00a0revenue\u00a0of slightly more than just $1 million in the third quarter of this year.<\/p>\n
The company, whose share price has dramatically fluctuated since the stock became publicly traded in late March, reported losses of $19.2 million for the quarter.<\/p>\n
Truth Social\u2019s daily active user rate is minuscule compared to other social media apps.<\/p>\n
Similarweb, a digital intelligence platform, reported that Truth Social had about 200,000 daily active users on Nov. 6, the day after\u00a0Election\u00a0Day. By contrast, the social media site X had 36.7 million users that day, Threads had 4.7 million users and Bluesky had about one million users.<\/p>\n
Juhan, who is also Trump Media\u2019s treasurer, sold 320,000 shares on Friday at a price of $30.65 per share, or a total of $9.8 million worth of stock according to a Form 4 filing with the\u00a0U.S. Securities and Exchange Commission.<\/p>\n
On Monday, Juhan sold another 64,000 shares at $32.97 per share, another $2.11 million worth, the same filing said.<\/p>\n
After the second sale, Juhan still had 265,798 shares of DJT, according to the filing. All but about 20,000 of those shares are restricted stock units, which were awarded to him on Nov. 5, Election Day, and which cannot be immediately sold.<\/p>\n
One-quarter of that awarded stock will vest, and become eligible for sale, on Dec. 25, a filing showed. The remaining shares will vest in quarterly installments through March 2027.<\/p>\n
Swider sold 136,183 shares of DJT on Friday at $28.23 per share, for a total of $3.84 million worth, according to his new Form 4 filing.<\/p>\n
The sale disposed of all of Swider\u2019s Trump Media shares, the filing indicated. Swider controls a company, Renatus Advisors, that still owns 18,043 shares of Trump Media.<\/p>\n
Glabe, the general counsel, on Friday sold 15,917 shares for $32.19 per share, or a total of $512,368, a filing shows.<\/p>\n
Glabe, who is also the company\u2019s secretary, still owns 336,576\u00a0restricted stock units\u00a0in Trump Media after that sale. That stock was awarded to him on Nov. 5, and will vest according to the same schedule as Juhan\u2019s RSUs.<\/p>\n
On the same day that Juhan and Scott received the RSUs, Trump Media CEO\u00a0Devin Nunes\u00a0received 1.3 million RSUs, which as of Wednesday were worth nearly $38 million on paper.<\/p>\n
Nunes\u2019 RSUs are subject to the same vesting schedules as those owned by Juhan and Scott.<\/p>\n
A Trump Media spokeswoman did not immediately respond to CNBC\u2019s request for comment on the stock sales.<\/p>\n<\/p>\n
The chief financial officer of\u00a0Trump Media\u00a0and two other corporate insiders sold more than $16 million worth of company\u00a0stock\u00a0in the week following the presidential election, according to new\u00a0disclosures. Most of the stock was sold by CFO\u00a0Phillip Juhan, who in August adopted a trading plan that revealed his intention to sell 400,000\u00a0DJT\u00a0shares by December 2025. Trump Media […]<\/p>\n","protected":false},"author":0,"featured_media":12285,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12284"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12285"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}