IMPORTANT POINTS:
- Nancy Pelosi and her husband Paul disclosed a donation of 2,900 Apple shares, valued between $500,001 and $1 million, to Trinity College, where Pelosi studied.
- The Pelosi couple has had a large stake in Apple, having exercised 100 call options in March 2023 and purchased 10,000 shares at an exercise price of $80.
- The stock trading of Nancy Pelosi and her husband has drawn attention and scrutiny, with calls to ban members of Congress and their spouses from trading, leading to the introduction of legislation known as the PELOSI Act.
Nancy Pelosi, Congresswoman and former Speaker of the United States House of Representatives, has revealed a stock transaction in the world’s most valuable company, Apple Inc. This news comes shortly after the tech giant shared details about new products and updates at its Worldwide Developers Conference (WWDC).
In a statement released Wednesday, Nancy Pelosi and her husband Paul Pelosi disclosed a transaction involving 2,900 Apple shares valued between $500,001 and $1 million. However, this transaction was not a sale or purchase of Apple stock, but a donation to a university.
The description of the transaction notes a “contribution of 2,900 personally owned shares to Trinity College.” Pelosi is an alumna of Trinity College, a private Catholic university in Washington, DC The congresswoman has regularly hosted Trinity students as guests at the United States Capitol over the years.
Apple shares traded between $172.11 and $173.85 on May 8, the date of the transaction. This would value the stock donation between $499,119 and $504,165. Based on the disclosure that the transaction is between $500,001 and $1 million, the transaction would be in the range of $500,001 and $504,165 for the 2,900 shares.
Apple shares hit an all-time high of $184.95 on Monday, June 5, ahead of WWDC.
The importance of this transaction
Apple has been a great investment for Pelosi, with 100 call options exercised on March 17, 2023. The 10,000 shares were purchased at an exercise price of $80, the day the options would have expired. The call options were acquired in May 2022.
Pelosi has been one of the members of Congress who has garnered the most attention with her disclosures of actions. Her husband Paul, a venture capitalist, and her operations have often come under scrutiny for their timing and potential inside information.
In 2023, Pelosi reported losses from several operations, including Roblox Corporation, which ranked as a top operator in 2021 based on public disclosures and a report by UnusualWhales. In 2022, Pelosi had a loss for the year according to the UnusualWhales report.
Calls to ban members of Congress and their spouses from trading in the stock market have grown, including the introduction of legislation known as the PELOSI Act. Pelosi sold shares of Nvidia Corporation.
