Shares of Trump Media were awarded to President Trump's appointees, including Kash Patel, Donald Trump Jr., and Linda McMahon, along with two other board members. The move has sparked criticism over potential conflicts of interest due to the president's financial ties and business ventures.
Shares were awarded to President Donald Trump's pick for FBI director, Kash Patel, Donald Trump Jr. Education secretary nominee Linda McMahon, former U.S. trade representative Robert Lighthizer, and two other directors.
The disclosures come as critics say the president's financial entanglements and recent business ventures pose conflicts of interest for members of his administration.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 MediaAt that price, the shares have a paper value of more than $779,400. But most of the stock awarded has restrictions on what it can be sold.
The new SEC filings said that the shares awarded Tuesday to the six board members are restricted stock units that will vest in installments.Twenty-five percent of the awarded RSUs — about 6,487 shares per director — immediately vested, meaning they can be sold at any time. The paper value of those shares was nearly $195,000 as of Tuesday's closing trade.
The remaining 75% of the RSUs will vest in nine quarterly installments over two years beginning March 25.New Jersey
TRUMP MEDIA STOCK AWARDS CONFLICT OF INTEREST PRESIDENTIAL APPOINTMENTS BUSINESS VENTURES
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump's 'Victories' Over Legacy Media: A Media Analyst's TakeMedia analyst Matt O'Connor argues that Donald Trump's persistent attacks on 'fake news' have finally paid off, leading to a decline in trust in traditional media outlets. O'Connor credits the public's growing awareness of media bias during the COVID-19 pandemic and the 2024 election for this shift. He believes this signifies a new era where citizen journalism and alternative media gain legitimacy, while traditional media loses its dominance.
Read more »
Kai Trump's Social Media Skyrockets After Donald Trump's WinKai's latest YouTube vlog, 'My grandpa became the president again,' has racked up 2.4 million views in 48 hours.
Read more »
Trump Media announce fintech launch with $250 million Bitcoin and crypto investment, TRUMP meme coin plungesMeme coins related to United States (US) President Donald Trump DJT and TRUMP declined on Wednesday despite the Trump Media board's plans to launch a new financial services platform, Truth.Fi.
Read more »
Johnson Allies Sound Alarm: Vote Against Him Could Delay Trump's InaugurationAmidst a tight race for House Speaker, Mike Johnson’s allies are warning that a vote against him could jeopardize the timely certification of Donald Trump’s presidential victory.
Read more »
Trump Allies Slam Biden for Awarding Cheney Presidential MedalPresident Joe Biden's decision to award Liz Cheney the Presidential Citizens Medal has sparked outrage among former President Donald Trump's supporters.
Read more »
Trump Allies Blast FBI Over Initial Handling of New Orleans AttackThe FBI faced criticism for initially characterizing the New Orleans attack as non-terrorist before launching a terrorism investigation.
Read more »