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Kimbal Musk, the younger brother of billionaire Elon Musk, sold Tesla shares worth $ 25.6 million on Tuesday, according to documents registered with the Securities and Exchange Commission.
He sold 30,000 shares of direct ownership at an average price of $ 853 per share, the documents showed. The 48-year-old man, who is a member of Tesla’s board and restaurateur, still holds 599,740 shares of the company, which are worth about $ 483 million.
Tesla’s shares were up 743% in 2020 and up about 14% so far in 2021.
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Markets Insider
Separately, Tesla’s audit committee member Antonio Gracias sold 150,747 shares of the electric car maker at an average price of $ 845.36 on Tuesday, according to another document. But Gracias replaced those positions by buying 150,747 call options that expire in June 2022 and 2025, with strike prices of $ 52.38 and $ 68.56. Gracias, a board member who also serves as president and CEO of Valor Equity Partners, owns 1.3 million Tesla shares through the AJG Growth Fund, the document showed.
Tesla executives and insiders own about 19.6% of the company’s shares, according to Bloomberg.
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