Former Tesla chairman has sold shares worth $ 247 million since June 10
US automaker Tesla Vice President Jerome Guillen poses at the Paris Auto Show on the final press day on October 3, 2014. The Paris Auto Show opens to the public on Saturday.
Eric Piermont | AFP | Getty Images
long time You’re here Executive and chairman Jerome Guillen, who left the company earlier in June, has sold about $ 274 million worth of shares after exercising stock options since June 10, according to a filing filed with of the Securities and Exchange Commission (SEC).
The filing, which was submitted to the SEC on Tuesday, said Guillen planned to sell 215,718 shares for $ 129 million that day, and that he had offloaded another 145,289 shares worth $ 89.6 million. dollars on June 14 and 90,111 shares valued at $ 55 million on June 10.
“This could raise investors’ eyebrows,” said Daniel Ives, analyst at Wedbush Securities, adding that investors will be watching closely to see if he sells more.
Guillen, a former Mercedes engineer who had worked at Tesla since 2010, oversaw the company’s entire vehicle business before being named president of the Tesla Heavy Trucking unit in March. He left the company on June 3.
The departure of Guillen, one of Tesla’s top four executives, including CEO Elon Musk, has raised concerns in the market about Tesla’s future vehicle programs, such as semi-electric trucks and new batteries called the 4680 cells.
Stock options give employees and officers the right to buy shares in their company at a specified price for a certain period of time. When the stock price exceeds the strike price, they can buy the stock at reduced prices.
It was not immediately clear how much Guillen paid to exercise the options.