A filing with the Securities and Exchange Commission (SEC) has revealed that Tesla Inc.’s former President of Heavy Duty Trucking, Jerome Guillen, has sold approximately $274 million USD worth of the company’s stock since June 10 — reports Yahoo! Finance.
Long-time Tesla executive and one of the electric vehicle (EV) giant’s top-four, Guillen left the company on June 3, and started exercising stock options shortly after.
The SEC filing, submitted on June 15, detailed that Guillen would be liquidating 215,718 shares for $129 million USD on the same day, and had already sold 145,289 shares worth $89.6 million USD on June 14, as well as 90,111 shares worth $55 million USD on June 10.
The departure of Guillen, who had been with the company since 2010 and was named President of Heavy Duty Trucking earlier this year, has cast doubt over the future of Tesla projects like the Semi, its all-electric truck, and revolutionary 4680 battery cells.
Tesla previously touched an all-time high of $900 USD per share earlier in the year, but was hovering around $600 USD per share when Guillen offloaded much of his stake in the company.
A person who is well aware of Tesla’s potential and, up until recently, was considered to be the second-most important individual at the company selling a significant portion of their holdings is certainly going to raise many an investor’s eyebrows.
Both market analysts and Tesla investors predict nothing but good things to come for the company and its stock in the future, so stakeholders may struggle to make sense of Guillen’s decision.
