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Tesla (NASDAQ: TSLA) board chair Robyn Denholm has sold approximately $33.7 million worth of Tesla stock, according to a recent SEC filing. Denholm, who has held the position since 2018, offloaded 112,390 shares. This follows a similar sale last month, where she sold the same number of shares for around $43.2 million.
The stock sale comes as Tesla's board faces scrutiny over executive compensation. Earlier this year, Denholm and other Tesla directors received court approval for a settlement worth up to $919 million, requiring them to return compensation to resolve claims of excessive pay between 2017 and 2020. During this period, Tesla’s stock surged, making stock options received by directors significantly more valuable.
Denholm previously testified in Elon Musk’s $56 billion pay package lawsuit, revealing that her tenure at Tesla had earned her around $280 million. Tesla’s board, which includes Musk’s brother Kimbal Musk, has often been criticized for its close ties to the billionaire CEO.
Meanwhile, Musk has expanded his influence beyond Tesla. President Donald Trump recently appointed him as head of the Department of Government Efficiency, assigning him to tackle government spending. This move aligns with broader efforts by the White House to cut costs, including thousands of job reductions.
Tesla’s stock has dropped about 13% since the November 5 elections, reflecting ongoing market volatility and concerns over governance. Investors remain watchful as regulatory and corporate challenges continue to shape the company’s trajectory.
