Kimbal Musk, co-founder of The Kitchen Community, speaks during the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 3, 2016.
Kimbal Musk, brother of Tesla CEO Elon Musk, sold 30,000 shares of the electric car maker this month for roughly $25.6 million, according to a securities filing.
The younger Musk is a member of the board at the pioneering automaker. Another director, Antonio Gracias, sold more than 150,000 shares earlier this month, according to securities filings.
The sales come after a dramatic run for Tesla, which joined the S&P 500 late last year. Its stock price is up more than 400% in the past 12 months but has stalled in recent weeks and is down slightly over the past month.
Kimbal Musk's sales came at just above $850 per share, according to securities filings. Tesla's stock closed at just under $805 per share on Wednesday.
The sale represents about 5% of the younger Musk's stake in Tesla. He held 600,000 shares as of October, according to FactSet, making him the fifth largest insider stockholder. He also sold a large amount of stock last September.
Musk, a restaurateur, was previously a board member for Chipotle Mexican Grill.
