The United States Securities and Exchange Commission (SEC) documents show that after Tesla’s stock price exceeded $1,000 for the first time to reach a record high, a Tesla director sold more than $200 million of stock on Wednesday.
After the third quarter’s revenue and profit hit historical records, Tesla and the car rental company Hertz reached a 100,000 car order agreement, which pushed Tesla’s share price soaring, becoming the fifth company with a market value of more than 10,000 Billion-dollar American company.
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According to SEC documents, Tesla’s independent director Ira Ehrenpreis exercised options on Wednesday and bought 370,000 Tesla shares at $50 per share. These options will expire in June next year. Subsequently, he sold 203,429 shares at a price of US$1068.38 per share, gaining approximately US$214 million.
Alan Price is a venture capitalist who has served on Tesla’s board of directors since May 2007. Another document shows that as of the end of 2020, he has obtained stock options to buy a total of 740,000 Tesla shares.
In addition to Ellen Price, other Tesla directors, including Tesla CEO Elon Musk, are also expected to make a fortune from the company’s stock price rise. Tesla directors hold a large number of stocks and stock options.
