Ex-President Tesla Jerome Guillen has sold $274 million worth of shares since June 10, the Securities and Exchange Commission (SEC) reported.
The report states that Guillen will sell 215,718 shares for US$ 129 million, namely 145,289 shares valued at US$ 89.6 million on June 14, and US$ 55 million on June 10.
“This will certainly furrow investors’ eyebrows,” said Wedbush Securities analyst Daniel Ives, as quoted by Reuters on Saturday (19/6/2021).
Ives also added that investors will be closely watching to see if Jerome Guillen, who has just resigned from the company a few weeks ago, will sell his shares again.
Guillen’s sparks investor concerns for Tesla
Guillen has been with Tesla since 2010 and oversaw the company’s entire business before being appointed president of the Heavy Truck unit in March. He left Tesla on June 3.
The departure of Guillen, one of Tesla’s top four leaders, has sparked market concerns about Tesla’s future vehicle projects such as an electric semi-truck and a new battery that is said to reach 4,680 cells.
Stock options do give employees and executives the right to buy shares of their company at a certain price and for a certain period of time. When the stock price goes up, they can buy the stock at a discount.
However, it is not known exactly how much money Guillen spent to exercise this option.
