SUBSEQUENT EVENTS |
3 Months Ended |
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Mar. 31, 2026 | |
| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 17 - SUBSEQUENT EVENTS
On April 6, 2026, Eric Swider resigned from the Board of Directors of TMTG (the “Board”), effective immediately. Mr. Swider’s resignation did not arise from or relate to a dispute with management or the Board.
On April 21, 2026, TMTG announced that, as of such date, Kevin J. McGurn will serve as Interim Chief Executive Officer and succeed Devin Nunes as the Company’s principal executive officer. The Company and Mr. Nunes entered into a Separation and Release Agreement (the “Separation Agreement”), dated as of April 21, 2026, pursuant to which Mr. Nunes ceased to be an employee, officer or director of the Company or any subsidiary or affiliate of the Company—including Chairman of the Board. Upon his separation from the Company pursuant to the Separation Agreement, Mr. Nunes is entitled to continuation of his base salary from April 21, 2026, through September 30, 2026. Additionally, the Separation Agreement provides for accelerated vesting of 96,721 time-based RSUs granted to Mr. Nunes on August 6, 2025 under the Company’s 2024 Amended & Restated Equity Incentive Plan, and the forfeiture of all other unvested equity.
Also on April 21, 2026, the Board appointed Mr. McGurn to serve as Interim Chief Executive Officer of the Company, effective immediately. In connection with Mr. McGurn’s appointment, the Company and Mr. McGurn entered
into an Employment Agreement, effective as of April 21, 2026, which provides for an initial employment term of nine months.
Effective April 24, 2026, the Board appointed Meredith O’Rourke and Boris Epshteyn as members of the Board. Mr. Epshteyn was subsequently appointed Chairman of the Board, effective April 30, 2026.
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