Ex-Tesla president bought shares price $247 million since June 10

2/2 © Reuters. FILE PHOTO: Jerome Guillen, Vice President of Tesla Gross sales and Service, speaks in entrance of a Tesla S electrical automobile throughout the press preview day of the North American Worldwide Auto Present in Detroit, Michigan January 14, 2014. REUTERS/Rebecca Cook dinner 2/2 BERKELEY, Calif. (Reuters) – Lengthy-time Tesla (NASDAQ:) Inc government


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© Reuters. FILE PHOTO: Jerome Guillen, Vice President of Tesla Gross sales and Service, speaks in entrance of a Tesla S electrical automobile throughout the press preview day of the North American Worldwide Auto Present in Detroit, Michigan January 14, 2014. REUTERS/Rebecca Cook dinner

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BERKELEY, Calif. (Reuters) – Lengthy-time Tesla (NASDAQ:) Inc government and president Jerome Guillen, who left the corporate earlier in June, has bought an estimated $274 million price of shares after exercising inventory choices since June 10, in response to a submitting with the Securities and Trade Fee (SEC).

The submitting, which was submitted to the SEC on Tuesday, mentioned that Guillen anticipated to promote 215,718 shares for $129 million that day, and that he offloaded one other 145,289 shares price $89.6 million on June 14, and 90,111 shares price $55 million on June 10.

“It might elevate some eyebrows for buyers,” Wedbush Securities analyst Daniel Ives mentioned, including that buyers are going to look at carefully to see if he sells extra.

Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the corporate’s whole autos enterprise earlier than being named president of the Tesla Heavy Trucking unit in March. He left the corporate on June 3.

The departure of Guillen, one in every of Tesla’s prime 4 leaders, together with CEO Elon Musk, has sparked market considerations about Tesla’s future car applications just like the Semi electrical vehicles and new batteries known as 4680 cells.

Inventory choices give workers and executives the fitting to purchase their firm’s inventory at a specified worth for a sure time period. When share costs rise above the train worth, they’ll purchase the shares at discounted costs.

It was not instantly identified how a lot Guillen paid to train the choices.

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