Tesla’s Robyn Denholm Sells $33 Million in Stock Amid Compensation Settlement

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Tesla (TSLA) chair Robyn Denholm has sold approximately $33.7 million worth of the company's stock, according to a filing with the Securities and Exchange Commission on Monday. Denholm, who has been Tesla’s board chair since November 2018, sold 112,390 shares of the automaker. This follows a similar sale of the same number of shares last month, generating gross proceeds of around $43.2 million.

Earlier this year, Denholm, along with other Tesla directors, reached a settlement worth up to $919 million after a court-approved agreement required them to return compensation to settle claims of overpaying themselves. The lawsuit argued that the director compensation from 2017 to 2020 was excessive, particularly as Tesla's stock surge made the stock options granted to directors worth hundreds of millions.

Denholm had previously testified in Elon Musk’s $56 billion pay package case, revealing that her time on the Tesla board had earned her about $280 million. Tesla's board, which includes CEO Elon Musk’s brother, Kimbal Musk, has faced repeated criticism for its close relationships with the billionaire.

Meanwhile, Musk has gained significant political influence, with President Donald Trump appointing him head of the Department of Government Efficiency to oversee efforts to cut wasteful spending and implement large government reforms, including significant job reductions. Tesla’s stock has dropped about 13% since the November 5 elections.

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