Ex-Tesla president sold stocks worth $247 million since June 10-SEC filing

Long-time Tesla Inc executive and president Jerome Guillen, who left the company earlier in June, has sold an estimated $274 million worth of shares after exercising stock options since June 10, according to a filing with the Securities and Exchange Commission (SEC).

Tesla Model S Plaid was officially launched at an event at the carmaker’s Fremont facility earlier this month.
Tesla Model S Plaid was officially launched at an event at the carmaker’s Fremont facility earlier this month.

The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he offloaded another 145,289 stocks worth $89.6 million on June 14, and 90,111 stocks worth $55 million on June 10.

"It could raise some eyebrows for investors," Wedbush Securities analyst Daniel Ives said, adding that investors are going to watch closely to see if he sells more.

Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the company's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. He left the company on June 3.

Also check these Vehicles

Find more Cars
Tesla Model S (HT Auto photo)
UPCOMING
₹70 Lakhs - 1 Cr* *Expected Price
View Details
Tesla Model 3 (HT Auto photo)
UPCOMING
₹70 - 90 Lakhs* *Expected Price
View Details
Mercedes-benz Eqe (HT Auto photo)
UPCOMING
₹70 - 90 Lakhs* *Expected Price
View Details
Mercedes-benz Eqb (HT Auto photo)
₹74.5 Lakhs***Ex-showroom price
Add to compare
Check latest offers
Lexus Ux 300e (HT Auto photo)
UPCOMING
₹75 - 85 Lakhs* *Expected Price
View Details

Also Read : Tesla in fast lane? Elon Musk’s Boring Co. pitches double-wide tunnels)

The departure of Guillen, one of Tesla's top four leaders, including CEO Elon Musk, has sparked market concerns about Tesla's future vehicle programs like the Semi electric trucks and new batteries called 4680 cells.

Stock options give employees and executives the right to buy their company's stock at a specified price for a certain period of time. When share prices rise above the exercise price, they can buy the stocks at discounted prices.

It was not immediately known how much Guillen paid to exercise the options.


First Published Date: 19 Jun 2021, 13:52 PM IST
Recommended for you
View all
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
55% OFF
SOFTSPUN Microfiber Cloth - 4 pcs - 40x40 cms - 340 GSM Grey- Thick Lint & Streak-Free Multipurpose Cloths - Automotive Microfibre Towels for Car Bike Cleaning Polishing Washing & Detailing…
Rs. 269 Rs. 604
21% OFF
Involve Your Senses One Musk Organic Car Perfume, Involve Your Senses Strong Fiber Air Freshener to Freshen'up Your Car - IONE01-40 g,Car Accessories interior car perfumes and fresheners
Rs. 315 Rs. 399
73% OFF
pTron Bullet Pro 36W PD Quick Charger, 3 Port Fast Car Charger Adapter - Compatible with All Smartphones & Tablets (Black)
Rs. 349 Rs. 1,299
13% OFF
Jopasu Car Duster
Rs. 754 Rs. 869

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city