Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Tesla is set to witness a substantial stock sell-off as three of its board members—Kimball Musk, Robyn Denholm, and Kathleen Wilson-Thompson—have arranged to sell shares totaling $300 million. The insider trading plans were detailed in Tesla's latest SEC filing, marking one of the largest collective sales by company insiders in recent history.
Board Members Set Sights on $300 Million Stock Sale
Three high-ranking Tesla employees, one of whom is Elon Musk's brother, are getting ready to unload about $300 million worth of TSLA shares.
According to Tesla's 10Q SEC filing, three board members, including Chairwoman Robyn Denholm and Elon Musk's brother Kimball, entered into new agreements to sell a large number of shares last quarter, Electrek reports.
Inside the SEC Filing: Details on Planned Sales
- On July 25, 2024: "Robyn Denholm, one of our directors, adopted a Rule 10b5-1 trading arrangement for the potential sale of up to 674,345 shares of our common stock (all resulting from stock options expiring in June 2025), subject to certain conditions. The arrangement’s expiration date is June 18, 2025."
- On July 31, 2024: "Kimbal Musk, one of our directors, adopted a Rule 10b5-1 trading arrangement for the potential sale of up to 152,088 shares of our common stock, subject to certain conditions. The arrangement’s expiration date is May 30, 2025."
- On August 12, 2024: "Kathleen Wilson-Thompson, one of our directors, adopted a Rule 10b5-1 trading arrangement for the potential sale of up to 300,000 shares of our common stock, subject to certain conditions. The arrangement’s expiration date is February 28, 2025."
Potential Profits and Stock Valuations
Denholm stands to gain $175 million from her proposed selling of Tesla shares at the present price of around $260 per share.
Wilson-Thompson would be able to sell almost $78 million under her arrangement, while Kimball Musk's 152,000 shares would be worth nearly $40 million.
Stock Options and Compensation Concerns
Denholm is executing her stock options, but she only had 85,000 Tesla shares in her possession as of her most recent report.
A lawsuit claims that shareholders have compensated Tesla's board members too much.
Settlement of the Shareholder Lawsuit
In a settlement reached last year, board members of Tesla agreed to refund more than $700 million in stock and cash.
