Tesla, Inc. (NASDAQ:TSLA) board member Robyn M. Denholm recently engaged in significant stock transactions, according to a new filing with the Securities and Exchange Commission. On March 12, Denholm sold a total of 89,306 shares of Tesla common stock, with the transactions amounting to over $16 million.
The sales were executed in multiple transactions, with prices ranging from $173.055 to $177.771 per share. Specifically, the sales included 18,068 shares sold at an average price of $173.055, 16,206 shares at $173.956, 24,653 shares at $175.164, 2,859 shares at $175.841, 1,619 shares at $176.808, and a larger batch of 30,300 shares sold at an average price of $177.771.
In addition to the sales, Denholm also acquired 93,705 shares through the exercise of options at a set price of $23.17, totaling approximately $2.17 million. These transactions were automatically effected pursuant to a Rule 10b5-1 trading plan previously adopted on October 23, 2023, for the orderly liquidation of options scheduled to expire in 2024.
Following these transactions, Denholm's ownership in Tesla common stock has adjusted to 15,000 shares. The recent activity reflects a mix of exercised options and sales, which are a common part of executive compensation and portfolio management.
Investors often monitor insider transactions for insights into a company's health and the confidence level of its executives. While these transactions are routine and scheduled, they can still provide valuable context regarding insider perspectives on the stock's value.
The details of the transactions were made available through a Form 4 filing with the SEC, which provides transparency into the trading activities of a company's officers, directors, and beneficial owners.
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