Part 7/13:
Taking a closer look at the actual shares held, some insiders own substantial stakes. Zachary’s total potential holdings, including options, can total nearly 3 million shares valued at over $545 million if Tesla's stock reaches around $185. As the stock price increases, so does the worth of these unexercised options, making it in their best financial interest to hold tight.
Similarly, Andrew Baglino owns roughly 65,000 shares equating to about $12 million in holdings, with substantial stock options that, if exercised, could be worth hundreds of millions more. His regular small sales probably reflect a need for liquidity or tax planning rather than a loss of confidence.