Tesla Board Chairman Sells Tesla Shares Worth 25.1 Billion Won Ahead of Term Expiration
[Asia Economy Reporter Byunghee Park] Robin Denholm, chairman of Tesla's board whose term is about to expire, sold Tesla shares worth $22 million (approximately 25.157 billion KRW), Bloomberg reported on the 4th (local time).
Denholm stated in a filing submitted to authorities that on the 2nd, he exercised stock purchase options to acquire 31,250 Tesla shares and immediately sold them.
Denholm joined Tesla's board in 2014. In 2018, he succeeded Elon Musk as chairman of the board for a three-year term.
Bloomberg reported that as Denholm's term nears its end, there is speculation that Musk may return as chairman of the board.
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Musk was sued by the U.S. Securities and Exchange Commission (SEC) in 2018 on charges of securities fraud, and subsequently agreed to pay a $20 million fine each for himself and Tesla, and to step down as chairman of Tesla's board as part of a settlement that included dropping the lawsuit.
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