The shares were part of a contractual "earnout bonus" that Trump's media company agreed to shortly before it went public in March.
At Tuesday's closing price of $49.93, Trump's newly awarded shares were worth around $1.8 billion, although Trump is prohibited from selling them until a six-month lockup period expires.The windfall for Trump comes as Trump Media's stock price has rocketed up 50% in the past seven days, afterSupreme Court won’t let former Trump aide Peter Navarro out of jail while he appeals sentenceThe shares were transferred to Trump as a reward for keeping the stock price above $17.
Source: News Formal (newsformal.com)
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