More than half of Robyn Denholm’s cash haul came from sales in the first four months this year as Tesla stock fell by one-third, according to filings reviewed by The Associated Press. In total, she unloaded hundreds of thousands of shares — more than half her holdings as dictated by a pre-arranged selling plan filed with regulators as Musk began embracing right-wing politics.
Denholm filed that plan on July 25, the day Musk endorsed Trump for president.
Denholm’s profits were likely outsized, too. That is because many of the shares she sold had been acquired through so-called options granted to her by Tesla years earlier that, given recent stock prices, allowed her to buy at a deep discount, according to data from research provider FactSet. Nearly a million shares acquired through options were bought for $25, less than a tenth of the market price for much of the last nine months.
The headline seems to imply something wrong is happening.
The options they got when hired finally matured, now they can sell them. With the share price cratering for things they can’t control (Musk being a dick) who wouldn’t just cash out? It’s the only thing worth doing in that situation.
That and leaving the company right after.
Huh ? She’s still chair ?
The only remotely suspect part is she filed the plan to sell the shares as soon as she knew Musk was going all in on Trump, it doesn’t take a genius to know that would finish Tesla. The plan is then the fastest timeline to offload her shares before Musk kills the company.
This isn’t really a story since they literally filed paperwork they were selling ahead of time like they are obligated to do.
I just don’t understand how they’re not like “ok, I’ve got the money I need now, I’ll just disappear into obscurity and do whatever I want”-mentality, like Tom, who many of us remember as our first friend.
Money hoarding in this way is a sickness, and they need to be cured. I don’t know what the cure could be, but somehow, Mario’s brother comes to mind.
