Paul Pelosi exercises $1M Google stock call options before Dems introduce congressional stock trading ban
Pelosi bought the call options in December 2021 and exercised them on Sept. 16
Paul Pelosi, husband of House Speaker Nancy Pelosi, exercised call options on at least $1 million worth of Alphabet stock ahead of last month's bill banning members of Congress from purchasing individual stocks.
Paul Pelosi exercised call options on anywhere between $1 million and $5 million worth of Alphabet stock on Sept. 16, after which they would have expired.
Paul Pelosi originally purchased the right to buy Google stock at a given price in December 2021. Alphabet is the parent company of tech heavyweight Google.
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Nancy Pelosi and Chuck Schumer hold a press conference on gas prices, April 28, 2022. (Chip Somodevilla/Getty Images / Getty Images)
Nancy Pelosi noted the purchase on Friday via an official congressional disclosure.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOG | ALPHABET INC. | 169.24 | -8.09 | -4.56% |
| GOOGL | ALPHABET INC. | 167.63 | -8.35 | -4.74% |
The disclosure shows that Paul Pelosi exercised the call options one week before a bill was introduced to the House of Representatives that bans the trading of individual stocks by congress members and their spouses.
The bill was backed by Nancy Pelosi.
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Signage at the Google headquarters in Mountain View, California, Jan. 27, 2022. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
House Democrats introduced the legislation last month that would prohibit federal officials from trading stocks in an effort to curb potential conflicts of interest.
The bill, titled the Combatting Financial Conflicts of Interest in Government Act, would ban congressional lawmakers and their spouses and dependent children, federal judges, Supreme Court justices, the president, vice president, members of the Federal Reserve System’s Board of Governors and others from trading or owning investments in securities, commodities, futures, cryptocurrency or other digital assets.
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Paul Pelosi and Nancy Pelosi attend the 2018 White House Correspondents' Dinner at Washington Hilton on April 28, 2018, in Washington. (Tasos Katopodis/Getty Images / Getty Images)
Those barred from trading stocks would be required to divest their holdings or put them into a qualified blind trust.
However, the legislation does allow officials to place their money in other investments, including diversified mutual funds and exchange-traded funds; U.S. Treasury bills, bonds and notes; and state and municipal bonds.
Fox News' Landon Mion contributed to this report.