Former President Donald Trump just landed another $1.8 billion worth of stock in the corporate owner of Truth Social.
Trump Media & Technology Group disclosed the windfall for Trump in a filing Tuesday, saying the former president has received another 36 million shares in the company. That bonus, known as “earnout” shares, was triggered by the company’s share price staying above certain levels. Trump Media said in the filing that on April 26 it officially determined the performance criteria “had been satisfied” and Trump was “subsequently issued the Earnout Shares.
According to SEC filings, the full earnout of 40 million shares to pre-merger shareholders would be paid if the company’s dollar volume-weighted average price equaled or exceeded $17.50 for any 20 trading days within any 30-day trading period beginning on March 25. Tuesday, April 23 marked the 20th trading day for Trump Media, and the stock has not traded below that $17.50 level at any point during that timeframe.
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