Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Trump Media CFO, two other insiders sell millions of dollars worth of DJT stock

by admin November 16, 2024
November 16, 2024
Trump Media CFO, two other insiders sell millions of dollars worth of DJT stock

The chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures.

Most of the stock was sold by CFO Phillip Juhan, who in August adopted a trading plan that revealed his intention to sell 400,000 DJT shares by December 2025.

Trump Media director Eric Swider and Scott Glabe, the company’s general counsel, each sold fewer shares of the company, whose majority owner Donald Trump was elected president on Nov. 5.

Trump Media, which operates the Truth Social app, has a market capitalization of $6.3 billion despite reporting revenue of slightly more than just $1 million in the third quarter of this year.

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.

Truth Social’s daily active user rate is minuscule compared to other social media apps.

Similarweb, a digital intelligence platform, reported that Truth Social had about 200,000 daily active users on Nov. 6, the day after Election Day. 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.

Juhan, who is also Trump Media’s 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 U.S. Securities and Exchange Commission.

On Monday, Juhan sold another 64,000 shares at $32.97 per share, another $2.11 million worth, the same filing said.

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.

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.

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.

The sale disposed of all of Swider’s Trump Media shares, the filing indicated. Swider controls a company, Renatus Advisors, that still owns 18,043 shares of Trump Media.

Glabe, the general counsel, on Friday sold 15,917 shares for $32.19 per share, or a total of $512,368, a filing shows.

Glabe, who is also the company’s secretary, still owns 336,576 restricted stock units in Trump Media after that sale. That stock was awarded to him on Nov. 5, and will vest according to the same schedule as Juhan’s RSUs.

On the same day that Juhan and Scott received the RSUs, Trump Media CEO Devin Nunes received 1.3 million RSUs, which as of Wednesday were worth nearly $38 million on paper.

Nunes’ RSUs are subject to the same vesting schedules as those owned by Juhan and Scott.

A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment on the stock sales.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
The Sign of Strong Charts Getting Stronger
next post
Tech 5: TSMC Gets US$6.6 Billion Biden Admin Grant, Bitcoin Price Hits New All-time High

Related Posts

Nvidia’s CEO did a Q&A with analysts. What...

March 23, 2025

Elon Musk and Sam Altman spar over Trump’s...

January 25, 2025

Global debt has grown to $315 trillion this...

May 30, 2024

Trump’s tariff threats send U.S. companies scrambling for...

November 14, 2024

Home sales slipped unexpectedly in April despite big...

May 23, 2024

Disney will name Bob Iger’s replacement in early...

October 22, 2024

The fight over credit card swipe fees enters...

January 7, 2025

How digitally native companies like Rothy’s are growing...

February 26, 2025

From Chili’s to burger chains, here are the...

December 17, 2024

Some local Teamsters groups announce Harris endorsements after...

September 21, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Strategic Chaos or Tactical Goldmine? What QQQ’s Chart is Whispering Right Now

      June 5, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 5, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 5, 2025
    • Speaker Johnson surprised by Musk’s criticism of ‘big, beautiful bill’: He’s ‘flat wrong’

      June 5, 2025
    • There’s a way to aid Gaza. I know, my foundation just helped deliver 7 million meals… without incident

      June 5, 2025

    Categories

    • Business (967)
    • Investing (2,320)
    • Politics (2,873)
    • Stocks (1,054)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved