According to an SEC filing on Thursday, former Tesla (TSLA.O) executive Drew Baglino sold shares in the leading EV manufacturer in the world for about $181.5 million.
Baglino, along with Elon Musk, comprised one of four members of the Tesla executive team. He started his career as an engineer in 2006.
Last Monday, he announced his resignation from the corporation as senior vice president of powertrain and energy engineering. Amid its efforts to reduce costs and increase productivity, the EV manufacturer announced the resignation. This move comes as part of its strategy to prepare for the “next phase of growth,” involving the layoff of over 10% of its global workforce.
In an SEC filing, Baglino claimed April 25 as “an approximate date of sale” for the sale of about 1.1 million of his shares as part of the exercising of a stock option.
According to the filing, he exercised two stock options this year, resulting in the sale of shares valued at around $4 million.
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