Kimbal Musk, billionaire Elon Musk’s younger brother, sold Tesla shares worth $25.6 million shares on Tuesday, according to filings registered with the Securities and Exchange Commission.
He sold 30,000 directly owned shares at an average price of $853 per share, the filings showed. The 48-year-old, who is a Tesla board member and restaurateur, still holds 599,740 shares in the company, worth roughly $483 million.
Tesla’s shares rose 743% in 2020 and are up about 14% so far in 2021.
Read More: US stocks set to resume climb, while bond yields and the dollar slip as investors mull lower-than-expected inflation
Separately, Tesla audit committee member Antonio Gracias sold 150,747 shares in the electric-car maker at an average price of $845.36 on Tuesday, according to another filing. But Gracias replaced these positions by purchasing 150,747 call options that expire in June 2022 and 2025, with exercise prices of $52.38 and $68.56. Gracias, a board member who also serves as the chairman and CEO of Valor Equity Partners, owns 1.3 million shares in Tesla via the AJG Growth Fund, the filing showed.
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