Company: DJTWW
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001140361-25-009143
Chunk: 46

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 46
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 Agreement in favor of TMTG. Under the Non-Competition and Non-Solicitation Agreement, each Significant Company Holder has agreed that, for a period of (i) four years, it will not engage in any business activity similar to, or competitive with, the business conducted by TMTG or its affiliates, in particular, Truth Social and the business of developing and operating media platforms for social media and digital video streaming, and of developing and operating products and services relating and incidental thereto or any other business being conducted by TMTG or any of its subsidiaries, as of the Closing Date, and (ii) three years, it will not, directly or indirectly (a) hire, engage, solicit, induce or encourage certain employees, independent contractors, consultants, or other certain personnel to leave TMTG; or (b) in any way interfere with or attempt to interfere with the relationship between such persons and TMTG. Tax Remittance and Share Repurchase Effective August 22, 2024, the Board and the Audit Committee authorized a share repurchase of an aggregate of 128,138 shares of common stock from certain executive employees at $22.70 per share. As consideration for the repurchase, the Company remitted $2,908,708, plus applicable penalties and interest, to the U.S. Internal Revenue Service and certain state taxing authorities in satisfaction of certain tax obligations that arose in connection with the March 7, 2024 issuance of certain promissory notes. Other Agreements In June 2024, in connection with a company event, TMTG paid $78,200 to Mar-a-Lago Club LLC, which is owned by the Donald J. Trump Revocable Trust, dated April 7, 2014. At the time of such transaction, Donald J. Trump owned more than 5% of TMTG’s common stock. Donald J. Trump, Jr., who serves as a director of TMTG, is currently the trustee and has sole voting and investment power over assets owned by the trust. Director Independence An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our board of directors has determined that Messrs. Bernhardt, Green, Holding and Lighthizer are “independent directors” as