As Tesla stock has fallen in recent weeks, members of the board and an executive at Elon Musk's company have sold off millions of dollars in stock, according to filings.

Summary

Tesla board members and executives have sold over $100 million in stock since early February as the company’s shares decline.

Board member James Murdoch sold $13 million in stock on March 10, coinciding with Tesla’s worst single-day drop in five years.

Kimbal Musk sold $27 million in shares last month, and board chair Robyn Denholm offloaded over $75 million through a predetermined plan.

The sell-offs come as Tesla’s stock has fallen nearly 50% since December.

  • BlazeDaley@lemmy.world
    10·
    16 hours ago

    Looking into the sale by James he shared in his form 4 filing that his sale was to cover the transaction cost in exercising his non-qualified stock options (NSO). This sale results in closing part* of his NSO grant and acquisition of 477,011 shares. The net cash value of the sale comes out to $196k. This should result in ordinary income tax of roughly $42M.

    * I’m not actually sure how NSOs work here. It’s unclear to me if there are still exercisable options in this grant or any other outstanding grants.

    The shares were sold to cover the exercise price relating to the exercise of stock options to purchase 531,787 shares, which are scheduled to expire in 2025.

    https://www.sec.gov/Archives/edgar/data/1318605/000177134025000004/xslF345X05/edgardoc.xml