Tesla’s Heavy Trucking executive sold $6M+ in stock

According to an SEC Form 4 filing, Tesla’s President of Heavy Trucking, Jerome M. Guillen, sold over $6 million worth of TSLA stock earlier this week. Transactions occurred under transaction codes M and S, according to Guillen’s most recent Form 4 submission.

Code M denotes the exercise or transfer of a derivative security, such as an option, received from the firm. The selling of shares on an exchange or to another individual is denoted by the transaction code S.

According to the Form 4, the Tesla executive purchased 10,000 shares for $55.32 by exercising his options under transaction code M. Tesla’s President of Heavy Trucking also sold 10,000 shares at market value, ranging from $628.46 to $664.77, under transaction code S. Guillen recently sold $6,440,627 worth of Tesla stock.

When looking at Guillen’s operation so far in 2021, a pattern appears over the last few months. He also sold 10,000 TSLA shares for a total of $6,978,659 in April at an average price of $697.87. Between January and March, Guillen completed similar transactions.

This year, Tesla’s Chief Financial Officer (CFO) Zachary Kirkhorn sold less shares than Guillen did. Kirkhorn sold 1,250 shares for an average price of $718 in April 2021, for a total of $897,500. In March, the CFO sold 4,068 TSLA shares for a total of over $2 million at an average price of $655.81-$595.08.

According to a regulatory filing dated March 11, 2021, Jerome Guillen’s position at Tesla shifted from president of Automotive to president of Heavy Trucking. Guillen’s new position means he will have less overall duties at Tesla, such as managing the company’s entire automotive division. Instead, Guillen’s new position means that he would focus more on the Tesla Semi, the company’s much-anticipated all-electric Class-8 vehicle.

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