Trump Media CEO, CFO, CTO Sold Shares To Cover Tax as Bitcoin Bet Takes $238M Crypto Hit

Trump Media & Technology Group (TMTG) executives disposed of shares worth about $756,000 to cover tax withholding after restricted stock units vested.

The transactions came just days after the Truth Social parent reported a $238.1m second‑quarter loss largely tied to declines in digital assets and other financial securities, according to filings with the US Securities and Exchange Commission.

The filings distinguish the transactions from conventional insider selling. The executives did not sell shares to raise cash or reduce their exposure to the company voluntarily. Instead, a portion of the newly vested stock was withheld or disposed of to meet tax obligations created when the awards vested.

Executives Dispose of Shares for Tax

The transactions involved interim chief executive Kevin McGurn, chief financial officer Phillip Juhan, chief technology officer Vladimir Novachki and general counsel Scott Glabe. Together, they disposed of shares worth about $756,000 on 13 August after restricted stock units vested.

McGurn disposed of 16,509 shares at a weighted average price of $8.3252, leaving him with 120,811 shares. Juhan disposed of 18,817 shares at an average price of $8.3265, leaving 581,749 shares.

Novachki disposed of 29,957 shares at about $8.33, while Glabe disposed of 25,546 shares at a weighted average price of $8.325.

The filings describe the transactions as dispositions made solely to cover withholding payments to applicable tax authorities.

They also state that the executives received no cash proceeds. The shares were tied to restricted stock units, which represent the right to receive company shares subject to vesting conditions.

The transactions reduced the executives' holdings while satisfying the tax liabilities associated with the vested awards. They were not reported as ordinary open‑market sales in which the executives received sale proceeds.

Trump Media's $238m Loss

The share dispositions followed Trump Media's second‑quarter results, which showed its net loss widening to $238.1m from about $20m a year earlier. The increase was primarily driven by unrealised losses on digital assets and other financial securities.

More than $190m of the quarterly loss came from declines in digital assets, digital assets pledged and equity securities, according to the company's results. Revenue rose 89 per cent year on year to about $1.7m.

Trump Media held 9,477 Bitcoin at the end of June, with the position valued at about $557m. That compared with a fair value of roughly $836m for 9,542 Bitcoin at the end of 2025.

The company also held about 756m Cronos tokens, whose fair value fell to roughly $40m from nearly $68m at the end of 2025. The declines were reflected in Trump Media's accounts through mark‑to‑market losses. The company continued to hold substantial digital‑asset exposure after the quarter.

McGurn's Additional Tax Transaction

McGurn later disposed of another 7,958 shares on 21 August at a weighted average price of $8.8864, worth about $71,000. The filing identified the transaction as another tax‑withholding disposition. His later filing showed 112,853 shares remaining after the transaction.

The filings do not state that the executives made the transactions because of Trump Media's cryptocurrency losses. The share dispositions followed the vesting of equity awards and were used to satisfy tax obligations, while the company's $238.1m quarterly loss reflected declines in the value of its digital assets and other securities.