Trump Media Insiders Sell More Than $16 Million In DJT Stock

Trump Media & Technology Group Corp. DJT’s chief financial officer and two other insiders have sold millions of dollars worth of shares following the election, according to SEC filings. 

The Details: Trump Media's CFO and treasurer Phillip Juhan sold 320,000 shares on Friday, Nov. 8 at a price of $30.65 per share for a total of $9.8 million in stock, according to a Form 4 filing. On Monday, Juhan sold another 64,000 shares at $32.97 per share, or $2.11 million in stock, according to the same filing.

Read Next: Bitcoin Could Reach $1 Million By 2037, Economist Says: ‘Buy Of A Lifetime’ Opportunity

Juhan previously disclosed a trading plan that revealed his intention to sell 400,000 Trump Media & Technology shares by December 2025. Juhan still holds 265,798 shares of DJT, according to the filing, most of which are restricted stock units (RSUs) awarded to him on Nov. 5 that cannot be immediately sold.

One-quarter of Juhan's restricted stock units will become eligible for sale on Dec. 25, 2024, and the remaining shares will vest in quarterly installments through March 2027.

Scott Glabe, Trump Media's general counsel and secretary, on Friday sold 15,917 shares for $32.19 per share, or a total of $512,368, an SEC filing shows.  Glabe still holds 336,576 restricted stock units in Trump Media which will vest according to the same schedule as Juhan's RSUs.

Eric Swider, director, sold 136,183 shares of DJT on Friday at $28.23 per share, or a total of $3.84 million in stock, according to his Form 4 filing. Swider disposed of all of his shares, but his company, Renatus Advisors, still owns 18,043 shares of Trump Media.

Benzinga reached out to Trump Media & Technology Group for comment on the stock sales.

Donald Trump, the majority shareholder of Trump Media & Technology, holds 114.75 million shares, representing about 60% of the company’s total shares. Trump denied rumors of a potential share sale in a post on Truth Social last Thursday. 

Trump said the rumors were “fake, untrue, and probably illegal,” likely spread by market manipulators or short sellers. He emphasized, “I have no intention of selling.”

DJT Price Action: According to data from Benzinga Pro, Trump Media & Technology shares were down 3.84% at $27.82 late in Thursday’s trading session.

Read Next: 

• Trump’s Potential ‘Health Czar’ Robert F. Kennedy Jr. Rattles Vaccine Stocks: ‘Shoot First Reaction’

Image: Shutterstock.