In the week after the presidential election, Trump Media’s chief financial officer and two other corporate officials sold almost $16 million worth of company shares, according to recent filings.
CFO Phillip Juhan sold the majority of the stock after announcing in August that he intended to sell 400,000 DJT shares by December 2025.
Following Donald Trump’s election as president on November 5, Trump Media’s general counsel Scott Glabe and director Eric Swider both sold less shares of the firm.
Even though Trump Media, the company that runs the Truth Social app, reported barely more than $1 million in sales for the third quarter of this year, its market valuation is $6.3 billion.
Since the stock went public in late March, the business’s share price has fluctuated significantly. During the quarter, the company recorded losses of $19.2 million.
When compared to other social networking apps, Truth Social’s daily active user rate is quite low.
On Nov. 6, the day following Election Day, Truth Social had over 200,000 daily active users, according to Similarweb, a digital intelligence firm. In comparison, Bluesky had around one million members, Threads had 4.7 million, and X, a social networking platform, had 36.7 million subscribers on that day.
According to a Form 4 filing with the U.S. Securities and Exchange Commission, Juhan, who also serves as treasurer of Trump Media, sold 320,000 shares on Friday for a total of $9.8 million, or $30.65 per share.
According to the same filing, Juhan sold an additional 64,000 shares on Monday for $32.97 a share, totaling $2.11 million.
According to the filing, Juhan still owned 265,798 shares of DJT following the second transaction. Of those shares, all but around 20,000 are restricted stock units, which he was granted on Election Day, November 5, and which are not immediately marketable.
According to a filing, 25% of the awarded shares will vest and be available for purchase on December 25. Through March 2027, the remaining shares will vest in quarterly installments.
According to his latest Form 4 filing, Swider sold 136,183 shares of DJT on Friday for a total of $3.84 million, or $28.23 per share.
According to the document, Swider’s Trump Media shares were all sold. Swider is in charge of Renatus Advisors, a business that continues to own 18,043 Trump Media shares.
According to a filing, general counsel Glabe sold 15,917 shares on Friday for $32.19 a share, for a total of $512,368.
Following that transaction, Glabe, who serves as the company’s secretary, still holds 336,576 units of restricted stock in Trump Media. He received the stock on November 5th, and it will vest on the same timeline as Juhan’s RSUs.
Devin Nunes, the CEO of Trump Media, earned 1.3 million RSUs on the same day as Juhan and Scott received theirs. As of Wednesday, the RSUs were valued at around $38 million on paper.
The vesting schedules for Nunes’ RSUs are identical to those for Juhan and Scott’s.
CNBC’s request for comment on the stock transactions was not immediately answered by a Trump Media spokesperson.
