Hot News! Tesla Chairman Sells $ 22 Million Shareholding - Kakiforex.com - Financial Market Media No. 1 in the World Hot News! Tesla Chairman Sells $ 22 Million Shareholding Hot News! Tesla Chairman Sells $ 22 Million Shareholding
InstaForex

August 5, 2021

Hot News! Tesla Chairman Sells $ 22 Million Shareholding

 Judging by the report, Tesla chairman Robyn Denholm has sold 31,250 shares of the electric vehicle maker with an average value of $ 22 million.


Most recently, Denholm has filed evidence in Delaware court as part of a shareholders ’court lawsuit regarding Tesla’s 2016 acquisition of SolarCity.


He has served on the Tesla board since August 2014.


In November 2018, Denholm was appointed chairman after CEO Elon Musk was forced to relinquish the role as part of a settlement agreement with the U.S. Securities and Exchange Commission.



Based on the announcement during the SEC agreement in September 2018, which obligated Musk to resign and be replaced by an independent chief for 3 years.


The 3 -year period is almost over, so Musk has the potential to continue his role as before.


However, Tesla has yet to appoint any proxies for the 2021 shareholders ’meeting.


In addition, Denholm was also seen using options to buy or sell shares and all of the transactions were executed on August 2nd. The stock was sold between the $ 700- $ 726.11 price level.


For information, he was previously the chief financial officer at the Australian telecommunications company Telstra Corp and lives in Australia.