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Chairman of Tesla Sells Shares Worth Over $2 Million

The Chairman of Tesla Inc., Robyn Denholm, has sold a sum total of over 31,250 shares of the electric-vehicle maker for above a worth of $22 million, according to a monitoring filing done late on Wednesday.Denholm, who has recently appeared in a Delaware court as a part of a shareholder lawsuit over a controversial 2016 acquisition of Tesla in regard of SolarCity, has helped on Tesla’s board since the month of August 2014.

She became the chairperson of the company in November 2018 after Chief Executive Officer, Elon Musk was forced to give up the role as a part of his settlement to the agreement with the United States Securities and Exchange Commission. The SEC agreement was announced in September of the year 2018, which required Musk to step down from the role of chair and be swapped by an independent Chairman for 3 long years.

Those 3 years are almost coming to an end, which means that Musk could possibly continue the role of the chair. Tesla has yet to file its commission for the 2021 shareholder meeting.

Denholm currently resides in Australia and was earlier the chief financial officer at the Australian telecoms company, Telstra Corporation.The filing done on Wednesday shows that she has worked out the options to the purchases of the shares, paying all the required prices, and then afterwards she sold the stock. All the transactions were performed on August 2 and the shares were sold at subjective average prices which ranged from amounts $700 to $726.11.

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