Company: DJTWW
Filing Date: 2025-03-18
Form Type: 424B3
Source: 0001140361-25-009265
Chunk: 45

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-03-18
Form: 424B3
Chunk 45
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% 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 defined in Nasdaq’s listing standards and applicable SEC rules. Our independent directors have regularly scheduled meetings at which only independent directors are present. Controlled Company Exception As of February 20, 2025, the Donald J. Trump Revocable Trust dated April 7, 2014 beneficially owns approximately 52% of the combined voting power of TMTG common stock. As a result, TMTG is a “controlled company” within the meaning of Nasdaq’s corporate governance standards. Under these corporate governance standards, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or other company is a “controlled company” and may elect not to comply with certain corporate governance standards, including the requirements (1) that a majority of TMTG’s Board consist of independent directors, (2) that TMTG’s Board have a compensation committee that consists entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities, and (3) that TMTG’s director nominations be made, or recommended to TMTG’s full Board, by TMTG’s independent directors or by a nominations committee that consists entirely of independent directors and that TMTG adopts a written charter or board resolution addressing the nominations process. Accordingly, investors do not have the same protections afforded to stockholders of companies that are subject to these corporate governance requirements. In the event that TMTG ceases to be a “controlled company” and its common stock continues to be listed on Nasdaq, TMTG will be required to comply with these provisions within the applicable transition periods. TMTG relies on the “controlled company” exemption. 31

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As a result, TMTG is not required to have a majority of independent directors on the Board, a Compensation Committee that consists