Trump Media this week gifted thousands of shares of company stock to President Donald Trump’s nominee for FBI director, Kash Patel, to Trump’s eldest son and to four other board members, new regulatory filings show.
The company awarded 25,946 stock shares each to Patel, Donald Trump Jr., and the president’s pick for Education secretary, Linda McMahon, who all serve as Trump Media directors, the filings Thursday reveal.
The filings said the awards were granted Tuesday. Trump Media that day closed trading at $30.04 per share.
At that price, the shares have a paper value of more than $779,400. But most of the stock awarded has restrictions on when it can be sold.
DJT was trading at around $31.50 per share as of 2:30 p.m. ET on Friday.
The filings said the stock was granted “as consideration for services provided” between late March — when Trump Media went public after completing a merger with a blank-check company — and Dec. 25.
The stock awards were made public hours after Patel appeared for a Senate hearing on his nomination to lead the FBI, the top U.S. law enforcement agency.
Trump Media, which operates the Truth Social app, on Wednesday announced it was expanding into financial services.
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 said the shares awarded Tuesday to the six board members are restricted stock units that will vest in installments.
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