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Short-Term TSLA Price Movements - 2013
- Thread starter Robert.Boston
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FredTMC
Model S VIN #4925
Looks like TSLA finished up 3% today (@ 91 euro) on Frankfurt exchange. That's ~$119 in the US.
Europe's markets rallied 3% today (central banks keeping rates low...) USA has potential market mover with the unemployment report in the morning, currently futures are up between 1.25% for DOW & 145% for NASDAQ, report will be released at 8:30 am EST Friday morning.
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FredTMC
Model S VIN #4925
Thanks, what about SCTY ? looks like its not listed there? any reason why ?
http://quotes.wsj.com/TSLA (bottom right)
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Try:
SolarCity Corp. | Equity | A1J6UM | US83416T1007 | Brse Frankfurt (Frankfurt Stock Exchange)
Solarcity Corp - US83416T1007 - Brse Berlin
Note, zero trading on those exchanges today and only one price fixing
or in Bloomberg "0SC:GR"
BTW - also Bloomberg "TL0:GR" for Tesla
You can check here how many shares are sold short every day. But you do not know how many are covered, so there is no way have daily data for the short interest.
July 2013 Reg SHO Daily Files
Hey guys, I noticed that on May 16 George Blankenship exercised options and sold the stock for $12.7 million, TSLA Insider Transactions | Tesla Motors, Inc. Stock - Yahoo! Finance
Is this concerning to anyone? Also, does anyone know how to view how many current shares he has? And also what are his upcoming options?
Is this concerning to anyone? Also, does anyone know how to view how many current shares he has? And also what are his upcoming options?
FredTMC
Model S VIN #4925
sorry. I don't know how much the execs have. I've been curious too. Regardless, I don't view George exercising 12M worth as terribly concerning. I'm sure he's got a lot more
Why would it be a concern? Telsa compensates heavily on stock and it's only worth something if you eventually sell. Seems like a pretty good time to cash out.
bollar
Disgruntled Member
Not a big deal. These are guys who have been working years and finally have a chance to cash out some. All of the details on share awards are covered in the definitive proxy statement, available at ir.teslamotors.com
Yes, it's quite concerning to me. George may decide to leap off the Golden Gate from selling so low. I'm worried about losing a great executive...
I think "concerned" was the wrong word (cause I'm not doubting company fundamentals) but I think it was just odd. Yes, odd is a much better word.
George Blankenship seems to be the highest paid executive on salary (excluding other compensation), TSLA Profile | Tesla Motors, Inc. Stock - Yahoo! Finance. Seems to be making $449k a year for base salary. Not bad. Last year he made $344.5k in base salary. So, it's not like he's living off of $150k salary. A bit strange he would cash out $12.7 million in stock.
But what's more odd is he exercised and sold 139,444 shares. I read through their proxy statements (Tesla Motors - Definitive Proxy Statement) and it seems like that's a big share of his total option incentives (from 2010 to present). His total stock option compensation package (some of them not yet earned or vested) totals 273,333 shares (approx)*. So for him to exercise 139k shares is more than half of his total shares that he's expected to have (not including any new option incentives not yet created).
So, my question is why would one of the top VPs of Tesla sell over half of his stake (present and future) in the company for just $91/share?
If George Blankenship was cashing out 10% or 20% of his shares, I'd totally understand. But 50%+ of his stake?
Of course he could have some personal circumstances we don't know about. Granted he can do whatever he wants with his money/stock. But since he's one of the top executives and this is public information, I can have my feelings/thoughts about it. It just doesn't portray confidence in the future of Tesla from one of their key executives.
Concerning? No, it doesn't change my view of the company.
Odd? Yes, very odd to me.
*Here's the info from the proxy statement regarding George Blankenship's options (when they were initiated, exercise price, and vesting):
June 2010 - 100,000 ($14.17). 1/4 vesting on 5/10/11, 1/48 vesting for next 36 months
Sept 2010 - 25,000 ($20.72). 1/48 vesting over 48 months.
Oct 2010 - 50,000 ($20.24). 1/48 vesting over 48 months.
Jan 2011 - 25,000 ($28.45). 1/48 vesting over 48 months.
Feb 2012 - 40,000 ($31.49). 1/48 vesting over 48 months.
There seems to be another 33,333 shares that was an earned incentive award given but can't find when it was initiated.
He previously exercised 14,114 shares in 2012 (the only time he's exercised shared before 2013).
His 139k shares exercised in mid-May is over half of his total option compensation given since 2010 (including options still vesting).
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mitch672
Active Member
DaveT, $450K/year is nothing to snooze about, but it isn't "FU" money, or enough to retire on.
Maybe George would like to retire soon, and you can live nicely off the interest of $12 million, even if he can only get a %2 yield, that's $240K/year. Also, George's history is he shows up, sets up the retail operations then moves on to the next company (GAP, Apple, Tesla). Maybe it's time to move on or retire, you can't fault the man for cashing out, we don't know what his plans are.
Here is a nearly 3 year old interview with him:
From GAP to the electric car: Tesla’s George Blankenship | VentureBeat
Maybe George would like to retire soon, and you can live nicely off the interest of $12 million, even if he can only get a %2 yield, that's $240K/year. Also, George's history is he shows up, sets up the retail operations then moves on to the next company (GAP, Apple, Tesla). Maybe it's time to move on or retire, you can't fault the man for cashing out, we don't know what his plans are.
Here is a nearly 3 year old interview with him:
From GAP to the electric car: Tesla’s George Blankenship | VentureBeat
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Citizen-T
Active Member
Guys, we go through this every few months. There are a billion reasons you might sell shares. Selling is a very uninteresting insider trade.
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