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Tesla board member sells shares worth $200 million after stock bump -filings -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : The Tesla Shanghai Gigafactory is in Shanghai, China. This Tesla logo was taken January 7, 2019. REUTERS/Aly Song

Hyunjoo Jin and Nivedita Balu

BANGALORE/SAN FRANCISCO, (Reuters) – A Tesla Inc (NASDAQ:) Inc board Member sold shares worth over $200 million Wednesday after the stock passed the $1,000 mark. This was the record for an electric carmaker, according to filings.

Tesla, a rental car company Hertz made it possible for Tesla to reach the trillion-dollar mark on Monday. This was after Tesla had recorded its highest quarterly income and profits.

Ira Ehrenpreis was an independent director of Tesla’s board. She exercised her options to purchase 370,000 shares at $50 per share on Wednesday just before the expiration date in June 2019, according to U.S. Security and Exchange Commission filings.

The filings show that he then sold 203.429 shares, at a cost of as much as $1.068.38 per piece, resulting in gains of approximately $214 millions, according to Reuters.

According to another filing, Ehrenpreis is a Venture Capitalist and has been on the Tesla Board since May 2007. He has stock options for 740,000 shares as of the End of 2020.

With a wide range of stock options and stocks, he is among the members of Tesla’s board, which includes Chief Executive Elon Musk.

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