Former Tesla SVP Drew Baglino is selling $181.5 million worth of stock, SEC filing says

Former Tesla executive Drew Baglino, who announced his resignation earlier this month, sold shares in the electric vehicle company worth around $181.5 million, according to a filing on Thursday with the SEC.

Baglino, who joined Tesla in 2006, is selling about 1.14 million of his shares, the filing said, listing an “approximate date of sale” of April 25, and describing it as an exercise of stock options.

Tesla announced on April 15 that it’s laying off 10% of its global workforce, following a drop in first-quarter deliveries and a steep slide in the stock price. That day, Baglino and fellow company veteran Rohan Patel said they were leaving the company.

Baglino announced his departure in a statement posted to X.

“I made the difficult decision to move on from Tesla after 18 years yesterday,” he wrote. “I am so thankful to have worked with and learned from the countless incredibly talented people at Tesla over the years.”

Baglino began as an engineer and climbed the ranks, most recently serving as senior vice president of powertrain and energy engineering, a job he’d held since 2016. Reporting directly to Musk, Baglino was seen as the unofficial chief of operations by many colleagues.

Source: CNBC