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A Tesla board member exercised 370,000 choices at about $50 apiece on Wednesday, SEC filings mentioned.
Ira Ehrenpreis then unloaded 203,429 shares at greater than $1,000 apiece, the filings mentioned.
One other departing member introduced a sale of greater than $600 million in inventory, Reuters reported.
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A Tesla board member unloaded greater than $200 million in inventory this week because the electric-vehicle maker’s shares traded close to document highs, in accordance with paperwork filed with the SEC.The paperwork have been first reported on by Reuters. The gross sales got here because the inventory surged, notching its largest month-to-month acquire in practically a yr, following sturdy Q3 earnings. Ira Ehrenpreis, of DBL Companions, who joined the board in 2007, exercised choices for 370,00 shares on Wednesday, one doc confirmed. He paid $50.14 apiece for 120,000, and $52.38 apiece for an additional 250,000, the submitting mentioned.
He then offered 203,429 shares in additional than 30 transactions, which spilled over onto one other submitting. His sale costs ranged from about $1,030 per share to about $1,065 per share, the filings mentioned. Ehrenpreis held onto 190,335 shares, price about $212 million at Friday’s shut. Antonio Gracias, a departing board member, additionally notified the SEC on Wednesday of a deliberate sale of greater than $600 million in inventory, Reuters reported.
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