Elon Musk Isn’t the Only Executive Trading Tesla Stock. SVP Tom Zhu Sells Shares.

Tom Zhu, Tesla’s senior vice president of automotive, sold 20,000 shares on Sept. 11. (Scott Olson/Getty Images)

Key Points

About This Summary

• Tom Zhu, Tesla’s SVP of Automotive, sold 20,000 shares on Sept. 11 for roughly $7.3 million, according to an SEC filing.
• The securities sold included stock awarded as compensation and shares Zhu purchased with cash dating back to 2021.
• Zhu indirectly owns 47,599.75 shares through Magical Blake Global Limited, valued at $19.8 million based on Thursday’s close.

Tesla CEO Elon Musk’s $1 billion purchase of company stock caused a stir earlier this week, but he wasn’t the only executive making moves.

Tom Zhu, Tesla’s senior vice president of automotive, sold 20,000 shares on Sept. 11. The transactions were disclosed in a Form 4 filed with the U.S. Securities and Exchange Commission on Sept. 12.

At an average price of $363.76 each, Zhu sold around $7.3 million worth of stock. Following the transactions, he indirectly owned 47,599.75 shares through Magical Blake Global Limited, an entity registered in the British Virgin Islands.

The SEC filing noted that Zhu is “the sole beneficial owner” of the entity. His holdings were valued at a total $19.8 million based on Thursday’s closing price. Shares have gained 15% since the sale on Sept. 11.

The securities included in the latest sale were a mix of stock awarded as compensation as well as shares that Zhu purchased with cash as far back as 2021, according to a separate SEC filing.

Tesla didn’t respond to a request for comment regarding the transaction.

Zhu served as the vice president of Tesla’s Greater China division before stepping into his current role in 2023. He oversaw the construction and groundbreaking of Tesla’s factory in Shanghai.

Zhu’s latest transactions were overshadowed by news of Musk’s purchase of 2.6 million shares on Sept. 12. It was the first time Musk bought shares on the open market since February 2020. The transaction appeared to reflect Musk’s confidence in Tesla’s artificial intelligence strategy, which includes its burgeoning robotics business.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com