Tesla’s Chairwoman, Robyn Denholm, has filed a new Form 144, indicating her intention to sell 112,390 Tesla shares. This move is part of a larger pattern of exercising Tesla options and selling common shares, resulting in millions of dollars in proceeds.
What Happened
Denholm’s latest filing shows that she plans to sell shares worth around $32 million. The transaction is part of a Rule 10b5-1, which means the timing and share amounts were predetermined and not based on any insider information. This sale comes after Denholm exercised Tesla options acquired on June 18, 2018.
Previous Sales
Denholm has sold the same number of shares (112,390) in February and March, with total sales of $43.2 million and $33.7 million, respectively. She has been one of the most active sellers among Tesla insiders, with sales earlier this year and in 2024.
Current Holdings
After the latest transaction, Denholm owns 85,000 Tesla shares and 300,440 options. Despite selling shares, Denholm has received over $600 million in stock compensation since joining the Tesla Board of Directors in 2014.
Importance of the Sale
Denholm’s sale may overshadow the recent insider purchase made by Joe Gebbia, a Tesla board member. While Gebbia’s purchase was small, it marked the first insider buy in years and may signal increased confidence in Tesla ahead of upcoming catalysts.
Reaction from Investors
Some Tesla investors have been critical of Denholm’s hands-off role as Chairwoman and her frequent selling of shares. The latest filing may reignite concerns about her commitment to the company.
Stock Performance
Tesla stock was down 5.1% to $277.14 on Wednesday, compared to a 52-week trading range of $167.41 to $488.54. Year-to-date in 2025, Tesla stock is down 26.8%, while shares have increased over 50% in the last year.
Next Steps
Investors will be watching Denholm’s future transactions and Tesla’s overall performance closely. With several catalysts on the horizon, including robotaxis and new vehicle models, Tesla’s stock price may be volatile in the coming months.