Trump's media company gave a roughly $800,000 stock award to his pick for FBI director
President Donald Trump
's pick for director of the Federal Bureau of Investigations has received around $800,000 worth of stock in Trump Media & Technology Group.
Kash Patel
, the former chief of staff to the US Secretary of Defence and a director of TMTG, was given 25,946 restricted shares in the parent company of Truth Social last week, according to a Securities and Exchange Commission filing.
The SEC Form 4 document shows that Patel was given the shares on January 28, which were then worth $779,000. Based on Thursday's closing price, the value is now about $840,000.
The stock award came days before his Senate confirmation hearing, and the New York native did not disclose it on his
financial disclosure report
, which all federal appointees are required to file to determine potential conflicts of interest and deter corruption.
In total, according to his financial disclosure report,
Patel made over $2.6 million
last year.
Per SEC filings, all six
Trump Media & Technology
directors — Patel, Donald J. Trump Jr., pick for education secretary Linda McMahon, former Digital World Acquisition CEO Eric Swider, former Louisiana prosecutor W. Kyle Green, and former US trade representative Robert Lighthizer — received almost 26,000 each in shares on the same date in January.
The grant is subject to certain conditions, wherein 25% of the shares can be sold straight away, and the remaining 75% will vest in quarterly installments through March 2027.
On Thursday, a Senate Judiciary Committee vote to progress Patel's nomination to lead the FBI was delayed by Democratic committee members, who have concerns about whether Patel is a suitable choice.
Some committee members say Patel has the potential to politicize the FBI after he included a list of "corrupt actors" in his 2023 book "Government Gangsters."
Representatives of Kash Patel did not immediately respond to Business Insider's request for comment.