Trump Media (Nasdaq: DJT) has awarded thousands of company shares to Kash Patel, former President Donald Trump’s pick for FBI director, along with Donald Trump Jr. and several board members, according to new regulatory filings.
The stock grants, disclosed in Securities and Exchange Commission (SEC) filings on Thursday, raise fresh concerns about financial entanglements within the Trump administration as the company expands its business ventures.
Who received Trump Media stock and why?
The filings reveal that Patel, Trump Jr., and Trump’s nominee for Education Secretary, Linda McMahon, each received 25,946 shares of Trump Media & Technology Group (DJT).
Three other board members—former US trade representative Robert Lighthizer, Eric Swider, and Kyle Green—were granted the same number of shares at no cost.
According to the SEC documents, the stock was granted “as consideration for services provided” from late March—when Trump Media went public through a merger with a blank-check company—through December 25.
DJT stock value and restrictions
Trump Media’s stock closed at $30.04 per share on the day of the awards, valuing each board member’s grant at over $779,400 on paper.
However, restrictions apply to most of the awarded stock.
While 25% of the restricted stock units (RSUs)—approximately 6,487 shares per recipient—are vested immediately and can be sold at any time, the remaining 75% will vest in nine quarterly installments over the next two years, beginning March 25.
Timing raises conflict-of-interest concerns
The stock awards became public just hours after Patel testified before the Senate during his confirmation hearing for FBI director.
Critics argue that Trump’s financial dealings—including his ownership of Trump Media—could create potential conflicts of interest for his administration.
Adding to the scrutiny, Trump Media, which operates Truth Social, announced this week that it is expanding into financial services, further intertwining business and politics.
Since winning the 2024 presidential election, Trump has transferred his majority stake in Trump Media to a revocable trust, of which he is the sole beneficiary. Trump Jr. serves as the only trustee, effectively maintaining close family control over the company.
As of Friday afternoon, DJT stock was trading around $31.50 per share, reflecting continued investor interest in Trump’s social media and business empire.
However, the stock’s volatility and ongoing concerns about the company’s governance could shape how the market reacts in the months ahead.
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