Insiders Cash Out: Trump Media Executives Sell Millions Worth of Stock
A Post-Election Exodus
In the week following the presidential election, three top executives at Trump Media, including the chief financial officer, sold a staggering $16 million worth of company stock. This sudden move has raised eyebrows, especially given the company’s struggling performance.
CFO Leads the Charge
Phillip Juhan, Trump Media’s CFO and treasurer, led the pack, selling 320,000 shares on Friday at $30.65 per share, netting a cool $9.8 million. He followed up with another sale of 64,000 shares on Monday, adding $2.11 million to his total haul. Despite these significant sales, Juhan still holds 265,798 shares, mostly in the form of restricted stock units awarded on Election Day.
Other Insiders Join the Fray
Eric Swider, a Trump Media director, sold 136,183 shares at $28.23 per share, pocketing $3.84 million. This sale disposed of all his Trump Media shares, although his company, Renatus Advisors, still owns 18,043 shares. Meanwhile, Glabe Scott, the company’s general counsel, sold 15,917 shares for $512,368.
A Struggling Company
Trump Media, which operates the Truth Social app, has struggled to gain traction. Despite its $6.3 billion market capitalization, the company reported a paltry $1 million in revenue in the third quarter, accompanied by losses of $19.2 million. Its daily active user rate is minuscule compared to other social media platforms, with only around 200,000 users on November 6.
A Complex Web of Stock Holdings
The executives’ stock sales are further complicated by the vesting schedules of their restricted stock units. Juhan, Scott, and CEO Devin Nunes all received large awards of RSUs on Election Day, which will vest in quarterly installments through March 2027. Nunes’ RSUs alone are worth nearly $38 million on paper.
No Comment from Trump Media
A Trump Media spokeswoman declined to comment on the stock sales, leaving many to wonder about the motivations behind these sudden moves. As the company continues to struggle, one thing is clear: its insiders are cashing out while they can.
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