According to documents submitted to the US Securities and Exchange Commission (SEC), the chief financial officer of Trump Media Technology Group and two other insiders sold shares worth tens of millions of dollars after the election.
According to the documents, Phillip Juhan (Phillip Juhan), the company's chief financial officer and treasurer, sold 0.32 million shares at a price of $30.65 per share last Friday (11/8), for a total of 9.8 million US dollars. This Monday (11/11), he sold another 0.064 million shares at a price of $32.97 per share, worth $2.11 million.
Zhu Han previously revealed a trading plan showing that he plans to sell 0.4 million shares of Trump Media Technology Group by December 2025. Documents show that he still holds 265,798 shares, most of which are restricted shares granted to him on November 5 and cannot be sold immediately.
According to another US SEC filing, Scott Glabe (Scott Glabe), general counsel and secretary of Trump Media Technology Group, sold 15,917 shares at a price of $32.19 each last Friday, for a total of $512,368. Graber still holds 336,576 restricted shares of the company.
Additionally, the company's director Eric Swider (Eric Swider) sold 136,183 shares worth approximately $3.84 million last Friday at a price of $28.23 per share. Swade sold all of his shares, but his company Renatus Advisors (Renatus Advisors) still holds 18043 shares of Trump Media.
Donald Trump, the majority shareholder of Trump Media Technology, holds 0.11475 billion shares, or about 60% of the company's total shares. On Thursday, Trump denied rumours of a possible stock sale in a social media post.
Trump said these rumors were “false, untrue, and probably illegal” and were probably spread by market manipulators or short sellers. “I have no intention of selling it,” he emphasized.