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(Bloomberg) – Tesla Inc. chairman Robyn Denholm sold 31,250 shares of the electric vehicle maker for more than $ 22 million, according to a regulatory filing Wednesday night.
Denholm, who recently testified in a Delaware court in a shareholder lawsuit over the controversial Tesla acquisition of SolarCity in 2016, has served on Tesla’s board of directors since August 2014.
She became president in November 2018 after chief executive Elon Musk was forced to relinquish the post as part of his settlement agreement with the U.S. Securities and Exchange Commission. The SEC deal, announced in September 2018, required Musk to step down and be replaced by an independent chairman for three years.
Read more: Tesla could re-appoint Musk president after SEC-ordered hiatus
Those three years are almost over, which means Musk could potentially take over the role. Tesla has yet to file its proxy for the 2021 shareholders meeting.
Denholm lives in Australia and was previously CFO of Australian telecommunications company Telstra Corp.
Wednesday’s record shows that she exercised options to buy the shares, paying the required strike prices, and then sold the shares afterward. All trades were executed on August 2 and the shares were sold at weighted average prices ranging from $ 700 to $ 726.11.
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