Tesla (TSLA) CTO Stock Sales Seen as Ominous Sign - Electrek

May 31, 2019 1:29 PM EDT

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Electrek believes the insider selling disclosure from Tesla (NASDAQ: TSLA) CTO JB Straubel could be an ominous sign as he has been scarcely seen at the office over the past several months.

The outlet noted that Straubel has been with the company since the beginning.

The disclosure in questions shows that the executive exercised 15,000 options and sold them on Tuesday for around $2.8 million. The options were not set to expire until 2022.

Electrek failed to mention that the stock option exercise and sales reported were part of a pre-determined Rule 10b5-1 trading plan adopted by Straubel.

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