Now I'm really down the rabbit hole on this; looking at the Amended S-4 formthe deal, here are the lockup terms:
"Following the Business Combination, shares of capital stock received by TMTG stockholders in connection with the Business Combination will be subject to a lock-up whereby, subject to certain limited exceptions, the shares cannot be transferred until the earliest of (i) the date that is six months after the Closing, (ii) the date on which the closing stock price for New Digital World common stock equals or exceeds $12.00 per share for any 20 trading days within any 30-trading day period commencing at least 150 days after the Closing, and (iii) the date after Closing on which New Digital World completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the New Digital World stockholders having the right to exchange their shares of New Digital World common stock for cash, securities or other property.
These lock-up restrictions will exclude shares of New Digital World common stock issued to holders of TMTG common stock, which were issued by TMTG prior to the Closing in exchange for their TMTG Convertible Notes."
Note the exception for Convertible note holders. It does not appear that's the source of Trump's shares, though.
