In accordance with a filing submitted to the SEC on Thursday, Drew Baglino, a former executive at Tesla, has divested shares amounting to roughly $181.5 million in the prominent electric vehicle manufacturer. Baglino, a seasoned Tesla veteran who commenced his tenure as an engineer in 2006, held a prominent role as one of four members in the company’s leadership team, working alongside Elon Musk. Recently, he tendered his resignation from the position of Senior Vice President of Powertrain and Energy Engineering. His departure aligns with Tesla’s initiative to streamline its global workforce by more than 10% in a bid to curtail costs and enhance efficacy as part of its groundwork for the “next phase of growth.”
The filing disclosed that Baglino executed the sale of approximately 1.1 million shares through a stock option exercise, citing April 25 as the proximate date of the transaction. Notably, earlier this year, he exercised his stock options on two occasions, liquidating shares valued at around $4 million.
