Board leader Tesla Robyn Denholm talks about the Australian National Press Club in Canberra in September 2022.
Fairfax media
Board leader Tesla Robyn Denholm has done extremely well for herself in the past year – mainly selling most of her shares to the electric car company. She dismissed over 65% of her shares and options in the last 12 months, giving $ 168 million before taxes – taking advantage of the stock points after winning President Donald Trump in November.
Denholm, who led the Tesla board after the insurance and exchange commission forced CEO Elon Musk to leave that role in 2018 after his fake tweet about securing funds to obtain private company, kept alone 85,000 shares and 412,000 options in the company after the latest sale selling this month, for $ 43 million, according to SEC recordings. This is declining from 15,000 shares and 1.47 million options a year ago. One possible reason for heavy sale: its options will expire in June. So she is likely to remain a heavy salesman of her remaining options in the coming months. Since 2017, she has sold $ 448 million to Tesla, before taxes.
“Board directors are paid in stock and it is really scary to have all your net value in a company’s assets. Ucla Andrew Verstein, co -director of his Lowell Milken Institute for Business Law and Policy. “On the other hand, it’s a little scary because they know how the company will do, and if they are selling, it can be a bad sign.”
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Most Denholm sales occurred on the basis of a plan set in July 2024 – it exercised and sold over 403,000 options since then – so the overall landing of its properties is dramatic, is not completely surprising. She, Musk and the other six board members are also stroke to refund the company for as many $ 919 million under a solution approved by the Delaware Cancer Court last month that discovered they compensated a lot between 2017 and 2020 .
The individual part of Denholm is not detailed in the settlement agreement. Given the 12% of Musk’s shares in Tesla, it is likely to owe the bulk most of the refund.
Denholm did not immediately respond to a commentary request on her stock sales. Tesla increased 5.8% to $ 355.94 on Thursday.
Lon Musk, with his son X æ A-XII, speaks to President Donald Trump and reporters at the White House Oval office this week.
Washington Post through Getty Images
With a current market estimate of $ 1.1 trillion Tesla is so far the most valuable motorist in the world, and a very volatile stock since its 2010 IPO. million dollars, the South African -born bill, contributed to helping his 2024 presidential leadership, have been extremely useful for Tesla so far. The shares began spraying in November after the loss of former deputy President Kamala Harris, reaching a high 479.86 peak on December 17, with investors assuming the new administration would be very favorable to Musk’s companies , which had faced investigations and control regulators under the administration of Biden. An early Tesla bonus seemed to be a $ 400m contract of the State Department to buy armored electric vehicles, initially identified as Teslas, although the deal has been suspended right now.
Denholm, an Australian native who joined a large part of the shares last year.
Kathleen Wilson-Thompson, who previously served as the Head of Human Resources at the Walgreens Boots Alliance and joined the Tesla Board in December 2018, sold $ 106.5 million in the past year, loading most of its shares in the company. It still had the opportunity for 120,948 shares since last month, from 765,855 a year ago.
Tesla board members, including Musk Kimal’s brother, who holds 1.46 million shares, and James Murdoch, have been major financial winners as the value of the shares has increased, especially after the company became very profitable in 2020 when Gigafactory opened its in Shanghai. However, this adds concerns that they have failed in recent years in the increasingly polarized comments and actions of CEO Musk threatening the Tesla brand. This has become an even greater issue now that he is leading Doge, the so -called Government Efficiency Department, for President Donald Trump, and attempt to make major federal budget reduction despite concerns about the legality of that effort.
“It is a company that is reaching out of all metrics, although all its inputs are agile according to conventional standards of good corporate governance or what they want to see Delaware Chancellors,” Vernstein said. “Tesla seems to be following the thesis that we can do well without those procedures and we don’t care if it looks bad.”
“Can you run a company that is quite ambitious and does not control any of the good practice boxes if your idea is good enough if your CEO is quite charismatic, if your engineering is good enough?” He said. “Can you ignore all other beauties, and investors and clients of the gathering? And if this is disappointed by some judges and some law professors, so.”
With reporting assistance from Kerry Dolan and Andrea Murphy.
