Tesla’s Chairwoman, Robyn Denholm, has filed to sell another $30 million in Tesla stock. She appears to be completely liquidating her stake in the company she chairs.
This morning, we noted that a Tesla insider made their first stock purchase in five years.
Other than the small purchase from Joe Gebbia disclosed last night, Tesla executives and board members have exclusively exercised stock options and sold them right away.
Robyn Denholm, Tesla’s Chairwoman, has been the top seller. She sold over $150 million worth of Tesla stocks over the last 6 months.
She has received over $600 million in stock compensation since joining the board just 10 years ago, and she has sold over $500 million worth.
Today, she filed with the SEC to sell another 112,390 Tesla shares worth over $32 million:
It’s the third time in the last 3 months that she filed to sell a block of over 112,000 shares.
As of her last filing, she had only 85,000 shares left and 300,440 stock options expiring later this year.
She has now liquidated most of her Tesla position.
Tesla shareholders sued Tesla board members, alleging they were overcompensated, and the parties ultimately agreed to return nearly $1 billion in cash and stock options to the company.
Electrek’s Take
I’d be surprised if Denholm is still on Tesla’s board by the end of the year. She looks like she is liquidating her position.
She did her job. That is, if you agree with Musk’s job description for a chairperson: useless. Musk actually said that.
Denholm’s only real job was to bank those checks while letting Musk do whatever he wants after he was banned from the chairperson role due to SEC violations.
She will be remembered as the person who had the best chance to stop Musk from destroying the Tesla brand and she did nothing.
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