Trump Media Awards Thousands of Shares to Top Executives and Board Members
In a move that has raised eyebrows, Trump Media has gifted thousands of shares of company stock to several high-ranking executives and board members, including President Donald Trump’s nominee for FBI director, Kash Patel, and his eldest son, Donald Trump Jr.
A Valuable Gift
According to new regulatory filings, Trump Media awarded 25,946 stock shares each to Patel, Trump Jr., and Linda McMahon, the president’s pick for Education secretary, who all serve as Trump Media directors. The shares were granted at no cost and have a paper value of over $779,400, based on the company’s closing price of $30.04 per share on Tuesday.
Restricted Stock Units
The filings revealed that the stock was granted “as consideration for services provided” between late March and December 25. However, most of the stock awarded has restrictions on when it can be sold. The shares are restricted stock units that will vest in installments, with 25% immediately vesting and the remaining 75% vesting in nine quarterly installments over two years.
Conflict of Interest Concerns
The disclosures have sparked concerns about potential conflicts of interest for members of the Trump administration. Critics argue that President Trump’s financial entanglements and recent business ventures pose a risk to the integrity of his administration.
Expansion into Financial Services
The stock awards were made public just hours after Patel appeared for a Senate hearing on his nomination to lead the FBI. Trump Media, which operates the Truth Social app, also announced its expansion into financial services on Wednesday.
Trump’s Financial Ties
Weeks after winning the presidential election, Trump transferred his majority stake in Trump Media to his revocable trust. Trump is the sole beneficiary of the trust, and Trump Jr. is its only trustee. The new SEC filings have raised questions about the extent of Trump’s financial ties and their potential impact on his administration.
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