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    TSLA   US88160R1014

TESLA, INC.

(TSLA)
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Tesla : Ex-Tesla president sold stock worth $274 million since June 10 -SEC filing

06/19/2021 | 09:49am EDT
FILE PHOTO: FILE PHOTO: Tesla's Guillen speaks in front of a Tesla S during the press preview day of the North American International Auto Show in Detroit

BERKELEY, Calif. (Reuters) - Long-time Tesla Inc executive and president Jerome Guillen, who left the company earlier in June, has sold an estimated $274 million worth of shares after exercising stock options since June 10, according to a filing with the Securities and Exchange Commission (SEC).

The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he offloaded 145,289 shares worth $89.6 million on June 14, and 90,111 shares worth $55 million on June 10.

Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the company's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. He left the company on June 3.

The departure of Guillen, one of Tesla's top four leaders, including Chief Executive Elon Musk, has sparked market concerns about Tesla's future vehicle programs like the Semi electric truck and new batteries called 4680 cells.

Gordon Johnson, an analyst at GLJ Research, estimated that Guillen has cut his exposure to Tesla from 1.3 million shares a weak ago to about 150,000 as of Friday.

"Should TSLA be on the verge of technological and autonomous breakthroughs and breakout 2Q21E deliveries/earnings, as well as EV domination, why has what many assumed was the second most important person at the company (i.e., Jerome Guillen) sold $274mn worth of TSLA stock," he said in a report.

"It could raise some eyebrows for investors," Wedbush Securities analyst Daniel Ives said, adding that investors are going to watch closely to see if he sells more.

Stock options give employees and executives the right to buy their company's stock at a specified price for a certain period of time. When share prices rise above the exercise price, they can buy the stocks at discounted prices.

It was not immediately known how much Guillen paid to exercise the options.

(Reporting by Hyunjoo Jin, additional reporting by Jessica DiNapoli; Editing by Sonya Hepinstall and Steve Orlofsky)


ę Reuters 2021
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Financials (USD)
Sales 2021 49 114 M - -
Net income 2021 3 256 M - -
Net cash 2021 9 299 M - -
P/E ratio 2021 220x
Yield 2021 -
Capitalization 620 B 620 B -
EV / Sales 2021 12,4x
EV / Sales 2022 9,10x
Nbr of Employees 70 757
Free-Float 80,5%
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Mean consensus HOLD
Number of Analysts 36
Last Close Price 643,38 $
Average target price 659,83 $
Spread / Average Target 2,56%
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Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
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