Three Tesla board members, including Chair Robyn Denholm, have initiated plans to sell more than $300 million worth of Tesla stock. The sales will occur under a 10b5-1 trading plan, according to documents submitted to the U.S. Securities and Exchange Commission (SEC).
Denholm plans to sell up to 674,345 shares, valued at approximately $177 million based on Tesla's recent closing price of around $262.50. Board member Kathleen Wilson-Thompson will sell up to 300,000 shares, equating to nearly $78.75 million. Additionally, Kimbal Musk, Elon Musk's brother, intends to sell 152,000 shares, amounting to almost $40 million.
