Business

Tesla’s SVP Boosts Stake as Zhu Xiaotong Exercises Stock Options

Published by
Matthew Martins
  • Zhu Xiaotong, Senior Vice President (SVP) of Automotive at Tesla, Inc., exercises stock options, increasing beneficial ownership.
  • Transaction involves the acquisition of 2,775 shares of Tesla’s common stock and the exercise of a non-qualified stock option for 336,285 shares.
  • The filing indicates compliance with SEC regulations and provides transparency for investors regarding changes in beneficial ownership of Tesla shares.

In a recent announcement, the United States Securities and Exchange Commission (SEC) has disclosed the details of a transaction made by Zhu Xiaotong, Senior Vice President (SVP) of Automotive at Tesla, Inc. The transaction involves the exercise of stock options, resulting in an increase in Xiaotong’s beneficial ownership of Tesla shares.*

According to the filing submitted to the SEC on May 23, 2023, Zhu Xiaotong exercised a portion of the stock option award grant, acquiring 2,775 shares of Tesla’s common stock at a price of $180.14 per share. These shares were part of a larger option award grant with respect to a total of 339,060 shares initially. The stock options became vested and exercisable on May 19, 2023, with subsequent portions vesting monthly until April 1, 2027, when all the shares subject to the option will be fully vested.

Additionally, Zhu Xiaotong exercised a non-qualified stock option, acquiring 336,285 shares of Tesla’s common stock at the same exercise price of $180.14 per share. Similar to the previous option, these shares are part of a larger grant, and their vesting schedule follows the same pattern as the previous option.

The disclosure indicates that the stock options were exercised pursuant to a contract, instruction, or written plan, satisfying the conditions of Rule 10b5-1(c), which provides an affirmative defense for insider trading allegations.

As a result of these transactions, Zhu Xiaotong’s beneficial ownership of Tesla shares has increased. Following the reported transactions, Xiaotong now beneficially owns a total of 2,775 shares of common stock acquired directly, in addition to 336,285 shares acquired through the exercised options.

Tesla, Inc. (ticker symbol: TSLA) is a well-known electric vehicle (EV) manufacturer and clean energy company founded by entrepreneur Elon Musk. The company has garnered significant attention in recent years due to its innovative EV technology and ambitious goals in the renewable energy sector.

It is worth noting that the filing also indicates that Zhu Xiaotong holds the position of SVP, Automotive at Tesla, Inc. However, no further details regarding the transaction’s purpose or any specific plans for the acquired shares were disclosed in the filing.

Matthew Martins

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Published by
Matthew Martins

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