Tesla board member Joe Gebbia actually bought some stock

Tesla board member and Airbnb co-founder Joe Gebbia acquired about 4,000 shares of the automaker’s stock, a purchase that has a value of about $1 million and change, according to a regulatory filing. That’s not a significant stock purchase, and certainly not for the billionaire board member, as Electrek noted in its reporting.

It’s notable simply because a Tesla board member making a straight purchase of stock — no gifted stock, an exercise or conversion of derivative security, or right to buy an option — is so rare. Gebbia now owns 4,111 shares in Tesla.

Historically, Tesla board members have either purchased options or offloaded stock. James Murdoch, for instance, acquired about 531,787 options in March. And board chair Robyn Denholm sold $32 million worth of shares Tuesday, per a regulatory filing. Denholm, who has been chair since 2018, has sold tens of millions of Tesla stock in recent months. She sold stock valued at $33.7 million in March and $43.2 million in February.