The US electric car manufacturer Tesla Vice President Jerome Guillen poses at the Paris Auto Show on October 3, 2014, on the final press day. The Paris Auto Show opens to the public on Saturday.
Eric Piermont | AFP | Getty Images
Long-time Tesla CEO and President Jerome Guillen, who left the company in early June, has exercised stock options since Jan.
Filing with the SEC on Tuesday said Guillen would sell 215,718 shares that day for $ 129 million and that he would sell another 145,289 shares on June 14, valued at $ 89.6 million, and on March 10.
“It might raise some investor eyebrows,” said Daniel Ives, an analyst with Wedbush Securities, adding that investors will be watching closely to see if he sells more.
Guillen, a former Mercedes engineer who has been with Tesla since 2010, oversaw the company’s entire vehicle business before being named president of the Tesla Heavy Trucking unit in March. He left the company on June 3rd.
The departure of Guillen, one of Tesla’s four top executives, including CEO Elon Musk, has raised market concerns about Tesla’s future vehicle programs such as the semi-electric trucks and new batteries called 4680 cells.
Stock options give employees and executives the right to buy shares in their company at a certain price for a certain period of time. If the share price rises above the exercise price, you can buy the shares at reduced prices.
It was not immediately known how much Guillen paid to exercise the options.