After Tesla CEO Elon Musk exercised over $100 million worth of options on two separate occasions ahead of the earnings last week, now it’s Chief Technology Officer and co-founder JB Straubel’s turn to exercise some options and increase his stake in the automaker.
According to a SEC filing published Friday evening, Straubel exercised 107,916 shares bringing his total stake in the company to 242,818 shares. Based on the price at market close on Friday, Straubel’s total stake in the company is now worth over $36 million.
Like we wrote when Musk exercised his shares, employees and executives often sell some or all new shares upon vesting in order to cover the cost associated with the transaction, but for his latest transactions, Musk actually paid the difference out-of-pocket. It looks like Straubel did the same since the company didn’t report any sales of Tesla’s common stock from Straubel linked to this transaction.
The CTO has been with the company since its founding and he is credited for helping get Musk onboard with the project. Last year, he took the second position on Forbes 40 under 40.
A few of our articles about Straubel:
- The Power of Controllable Charging Load – Is Tesla working on a “bi-directional” home charging station?
- Tesla CTO JB Straubel addresses Model S acceleration and horsepower concerns
- “From all manufacturers I think we’ll see electric vehicles dominate the whole transportation fleet (within the next 10 years)” – JB Straubel, Tesla’s CTO and co-founder