Khanna's Merck Trade Took 758 Days to Disclose, 713 Past the STOCK Act Limit

Representative Ro Khanna (D-CA) reported a sale of MRK stock 758 days after the transaction date, according to a congressional disclosure filed this week. The STOCK Act allows 45 days.

The trade, a sale of between $1,001 and $15,000 in Merck & Co. shares, was executed on August 3, 2026, and reported on September 1, 2028. That is 713 days past the legal deadline.

The filing also includes two other Merck trades: a buy of $15,001 to $50,000 on August 7, 2024, and a buy of $1,001 to $15,000 on August 24, 2026. The August 2024 buy was reported 1,490 days after execution, also far beyond the 45-day window.

Khanna, a member of the House Armed Services Committee and the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, has reported 19,659 career trades. This is not his first late filing; his history includes multiple disclosures that missed the STOCK Act deadline.

The STOCK Act, passed in 2012, requires members of Congress to report stock trades within 45 days of execution. Late filings are common, but a 758-day delay is on the extreme end. The Office of Congressional Ethics has previously reviewed late trade disclosures, though no formal action has been announced in this case.

Merck, a pharmaceutical company with a market cap of $285.9 billion, trades on the NYSE at $150.33, near the top of its 52-week range of $77.58 to $156.92. The company's oncology franchise, led by Keytruda, drives a significant share of revenue. Investors watch patent expiration timelines and clinical trial outcomes as key earnings drivers.

Khanna is one of 96 lawmakers who have traded Merck stock in the current session. His committee assignments include oversight of defense and technology policy, but Merck's business is not directly tied to those committees. The disclosure does not indicate any conflict; it is a fact about a transaction.

The August 2026 buy, reported in the same filing, was made by Khanna's spouse. The August 2024 buy was listed as owned by a dependent child. The sale in August 2026 was listed as owned by the spouse.

Late filings have been a recurring issue in Congress. A 2023 analysis by the Campaign Legal Center found that more than half of all congressional stock trade disclosures in the previous year were filed late. The STOCK Act's enforcement mechanism relies on a $200 fine for late filings, which the House Ethics Committee can waive.

Khanna's office did not respond to a request for comment. The filing was made public through the House Financial Disclosure database, which is part of the latest congressional trades feed.

The 758-day delay is the slowest trade in this filing, but it is not the slowest in Khanna's career. His record includes a trade reported 1,200 days after execution, according to data compiled by our tracking system.

Merck's stock has risen 94% over the past 52 weeks, from a low of $77.58 to a high of $156.92. The company's dividend yield is 2.8%, and its price-to-earnings ratio is 21.4. Analysts have a consensus price target of $158, according to data from financial platforms.

The disclosure does not specify the exact dollar amounts, only ranges. The total value of the three trades is approximately $49,000, based on the midpoints of the ranges.

Khanna has been a vocal advocate for stricter ethics rules, including a proposed ban on individual stock trading by members of Congress. His own trading history, with 19,659 career trades, has drawn scrutiny from transparency groups.

The STOCK Act was designed to prevent conflicts of interest, but its enforcement has been weak. The House Ethics Committee has not publicly disciplined a member for a late filing in the past decade, according to records reviewed by our team.

This filing is now part of the public record. The data table below shows the exact trades as reported.

The disclosed trades

Every MRK line item from Ro Khanna's periodic transaction reports, as filed: