Tesla’s Chief Accounting Officer Vaibhav Taneja has unloaded 4,459 shares of the electric automaker’s stock, taking home $2,947,330 due to the sale, SEC documents reveal.
On July 6th, Vaibhav sold 4,459 shares for unknown reasons, according to a Form 4 filing with the Securities and Exchanges Commission. A Form 4 is the necessary paperwork needed for “an insider” with a company to execute a transaction. The purpose is to make the public aware of the “insider’s various transactions in company securities, including the amount purchased or sold and the price per share,” the SEC writes.
The Tesla CAO took home $2,947,330.63 due to the sale of common stock. Taneja did acquire 4,090 options, according to the Form 4 filing. He still holds 19,721 shares of the automaker’s stock, so Taneja is not likely planning to leave the company.
Taneja has been with Tesla for 4 years and 6 months, according to his LinkedIn profile. Previously, he was the Vice President and Corporate Controller for SolarCity, the solar panel manufacturer that Tesla absorbed in 2016 for $2.6 billion.
Tesla CEO Elon Musk is currently in a Delaware courtroom where he is defending the company’s acquisition of SolarCity after various shareholders felt Musk might have forced Tesla board members into voting toward the motion that would see the companies combine. Musk has denied these claims, stating he had “no material role” in the decision. Musk did not vote on the matter when it was presented to board members.
Taneja was also recently promoted to oversee the financials of Tesla’s entrance into India. A graduate of Delhi University in India, Taneja was also an attendee of the Institute of Chartered Accountants of India and is a Certified Public Accountant.
Over the past several months, Tesla has lost several of its executives and officers. Tesla’s Deputy General Counsel Lynn Miller left the company on June 22nd. Meanwhile, Tesla’s VP of Legal Al Prescott joined LiDAR company Luminar in late April. However, the most notable loss for Tesla in 2021 has been President of Heavy Trucking and Former President of Automotive Jerome Guillen, who departed the company on June 7th.
At the time of writing, TSLA shares were trading at $645.30.