Trump Media grants large amounts of stock to directors

Trump Media & Technology Group this week awarded its directors blocks of shares currently worth just over $825,000.

Trump Media & Technology Group this week awarded its directors blocks of shares currently worth just over $825,000. The directors include two of President Donald Trump’s key nominees to serve in his administration; however, Kash Patel told Congress in a questionnaire as part of his nomination process that he would not accept that compensation. “On January 28, 2025, the TMTG board convened without my presence or participation and awarded all board members—including myself—compensation for past services provided, including a monetary award and shares,” Patel wrote in response to a question from Democratic Sen. Adam Schiff of California. “Even though this represented compensation for past services I had provided, out of an abundance of caution and to avoid any appearance of any conflict, I did not and will not accept that compensation.” Patel also stated that he had “never received compensation for serving as a board member” for TMTG. As part of a stock grant to members of its board, the Truth Social owner on Tuesday awarded nearly 26,000 shares each to its six directors: Patel, Linda McMahon, former US Trade Representative Robert Lighthizer, Eric Swider, Kyle Green and Donald Trump Jr, according to filings with the Securities and Exchange Commission disclosed Thursday. Patel has been tapped for FBI director and McMahon for Department of Education secretary; both are awaiting formal confirmation. Many critics of President Trump say that his complex web of financial stakes in various properties, cryptocurrencies and his social media company could allow him to profit off his presidency and improperly curry favor with business partners who also serve his government. Trump has taken at least one step to avoid a conflict of interest: He announced in December that he transferred his dominant stake in Trump Media to a revocable trust of which the president’s eldest son is the sole beneficiary and Trump Jr. is the sole trustee, according to regulatory filings. He does not vote on company or board decisions. It’s common for company board members to be awarded shares, and there is no evidence whatsoever that these grants were anything other than typical stock awards to board members.