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Kimbal Musk, the younger brother of billionaire Elon Musk, sold Tesla shares worth $ 25.6 million on Tuesday, according to documentation registered with the Securities and Exchange Commission.
He sold 30,000 direct shares at an average price of $ 853 per share. The 48-year-old, who is a board member and restorer of Tesla, still holds 599,740 shares in the company, valued at approximately $ 483 million.
Tesla’s shares rose by 743% in 2020 and by 14% so far in 2021.
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Market Insider
Separately, Antonio Gracias, a member of Tesla’s audit committee, sold 150,747 shares in the electric car maker on Tuesday at an average price of $ 845.36. But Gracias replaced those positions by buying 150,747 call options that expire in June 2022 and 2025, with exercise prices of $ 52.38 and $ 68.56. Gracias, a board member who also serves as chairman and CEO of Valor Equity Partners, owns 1.3 million shares in Tesla via the AJG Growth Fund, the submission showed.
According to Bloomberg, Tesla executives and insiders have about a 19.6% stake in the company.
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