Trump Media & Technology Group Corp. disclosed a series of major leadership changes in a regulatory filing on Friday, solidifying the company’s strategic shift under new interim CEO Kevin McGurn and expanding the board with two close allies of former President Donald Trump.
The filing, submitted with the Securities and Exchange Commission, reveals that McGurn will receive a monthly salary of $125,000 for an initial nine-month term, along with 146,198 restricted stock units (RSUs). These RSUs, granted on April 24, convert into common shares upon vesting. If McGurn is not appointed permanent CEO, a one-year consulting agreement at $50,000 per month has been arranged.
McGurn, 53, brings extensive experience from media and technology sectors, having held roles at T-Mobile, Vevo, and Hulu, as well as serving on the boards of several special purpose acquisition companies (SPACs) including Yorkville Acquisition Corp. and Texas Ventures Acquisition III Corp. He was appointed interim CEO on April 21, after advising the company since December 2024.
In a parallel move, the board appointed Meredith O’Rourke and Boris Epshteyn effective April 24. O’Rourke has served as Trump’s senior adviser and national finance director since 2022, while Epshteyn is senior counsel and senior adviser to Trump. Their addition signals a tighter alignment with Trump’s political and business network.
The filing also details the departure of Devin Nunes, who exited all roles including chairman. Under his separation agreement, Nunes will receive base pay through September 30 and accelerated vesting of 96,721 time-based RSUs; any remaining unvested equity will be forfeited.
Trump Media’s shares (NASDAQ: DJT) closed the latest session at $9.35, with a market capitalization near $2.6 billion. The stock traded in a range of $9.02 to $9.46 during the session.
The company faces significant operational challenges as it juggles Truth Social, streaming service Truth+, financial platform Truth.Fi, crypto initiatives, and merger activities—all without a permanent CEO. For 2025, Trump Media reported revenue of roughly $3.7 million, while net losses exceeded $712 million, driven largely by unrealized losses on digital assets and related securities.
User engagement metrics remain weak. According to Similarweb data, Truth Social’s mobile monthly active users fell 9% year-over-year to just over 2 million, while web traffic dropped 27% to 4.6 million. Daily active users are under 320,000, a fraction of the 129 million on X (formerly Twitter).
Investors will be watching closely whether the refreshed leadership can translate political attention into a sustainable business model and generate steady revenue, rather than relying solely on the media spotlight.
