The chief operating officer of Trump Media and Technology Group (TMTG), Andrew Northwall, is resigning, according to a Securities and Exchange Commission filing Thursday.
Details about Northwall’s departure were limited. TMTG only said that he had stepped down from his role at the company as of September 28. No immediate replacement was announced. However, the company said it plans to “transition his duties internally.”
Northwall is a longtime tech operative in conservative circles. Prior to working at TMTG he briefly advised the rightwing social media site Parler, according to his LinkedIn. Parler was booted off the internet when Amazon stripped it of its web services in early 2021, following the events of Jan. 6. Before working at Parler, Northwall had various roles in Republican politics.
Since December 2021 Northwall has been with TMTG, serving as COO for the entirety of his tenure at the company. As an executive Northwall was granted both a salary and stock options in TMTG. Like other insiders at the company he was subject to the lockup period that expired last month, and prevented him from selling any stock. As of July Northwall owned 20,000 shares, according to an SEC filing made at the time. Based on the current stock price of $16.17 those shares are currently worth $323,000. Northwall’s compensation also includes a $365,000 and a $600,000 retention bonus.
While those portions of Northwall’s compensation were typical for executives, others were less common. Northwall along with other TMTG executives including CEO Devin Nunes and CFO Phillip Juhan were issued a promissory note, which is essentially a legally binding IOU, from the company. Northwall’s portion of the promissory note was worth $200,000, according to SEC filings. However, as part of the agreement he forfeited 50,000 restricted stock units he would have been eligible for.
On Thursday, the day of Northwall’s departure TMTG stock closed up 2.3%. It is worth noting that Northwall’s resignation was announced as the market closed.
TMTG and Andrew Northwall did not immediately respond to a request for comment.
