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.

Prior to the latest sale, Baglino had unloaded about $4 million worth of shares in two transactions this year — one in late February and the other in early April, filings show. In each case, he sold 10,500 shares, exercising stock options in both.

During earnings calls and other major company events, including a presentation of Tesla's "Master Plan part 3" in the spring of 2023, Baglino had become a familiar voice and face to shareholders, often discussing mining, battery manufacturing and performance.

Baglino didn't respond to requests for comment.