Jerome Guillen, long-time executive and president of Tesla Inc, who had departed the company in June, has been reported to have sold approximately of $274 million worth of shares following exercising stock options since June 10, mentioned a filing of Securities and Exchange Commission (SEC).
The SEC was submitted the said filing on Tuesday. It read that Guillen anticipated selling 2,15,718 shares for $129 million on that day and that he jettison an additional 145,289 stocks worth $89.6 million on June 14, and 90,111 stocks worth $55 million on the 10th of June.
Wedbush Securities analyst Daniel Ives said that that investors were going to observe closely to see if he sells more in addition to saying, “It could raise some eyebrows for investors.”
Guillen, who previously was a Mercedes engineer and has been with Tesla since 2010, supervised the company’s complete vehicles business prior to being named the president of the Tesla Heavy Trucking unit in the month of March. He left the company on June 3.
The divergence of Guillen from the company after being one of Tesla’s top four leaders, together with CEO Elon Musk, has raised concerns in the market regarding Tesla’s future vehicle programs such as Semi electric trucks and new batteries called 4680 cells.
It was not known immediately the price Guillen paid to exercise the options.