Tesla shares exceed $1,000, independent directors sell more than $200 million in stocks

US Securities and Exchange Commission (SEC) documents revealed that after Tesla’s share price exceeded $1,000 for the first time to reach a record high, a Tesla director sold more than 2% on Wednesday.

After the third quarter’s revenue and profit hit historical records, Tesla and the car rental company Hertz reached a 100,000 car order agreement, which pushed Tesla’s share price soaring, becoming the fifth company with a market value of more than 10,000 on Monday.

According to SEC filings, Tesla’s independent director Ira Ehrenpreis (Ira Ehrenpreis) exercised his option on Wednesday and bought 370,000 Tesla shares for $50 per share. These options will expire in June next year. Subsequently, he sold 203,429 shares at a price of US$1068.38 per share, gaining approximately US$214 million.

Alan Price is a venture capitalist who has served on Tesla’s board of directors since May 2007. Another document shows that as of the end of 2020, the stock options he has obtained can buy a total of 740,000 shares of Tesla.

In addition to Ellen Price, other Tesla directors, including Tesla CEO Elon Musk (Elon Musk), are also expected to make a fortune from the rise in the company’s stock price. Tesla directors hold a large number of stocks and stock options.

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