Jon M. Huntsman Jr., a board member of Ford Motor Co, sold 81,234 shares of the company’s common stock on Friday, generating total proceeds of $982,200.
The shares were sold at a weighted average price of $12.091 each. Following this transaction, Huntsman Jr. now holds 168,601 shares in the company.
Huntsman Jr. was re-elected to the Ford board of directors in October 2020, having previously served as a company director from 2012 to 2017.
He stepped down in 2017 to serve as the U.S. ambassador to Russia under President Donald J. Trump, a role he held for two years.
Additionally, Huntsman was a Ford officer from May 2021 through December 2022, advising on strategic policy matters as vice chair, Policy, to company President and CEO Jim Farley and Executive Chair Bill Ford.
Earlier this month, the automaker requested its electric-vehicle suppliers to reduce costs to support profitability, stating “everything is on the table,” Reuters reported citing a company memo.
Since February, Mustang Mach-E and F-150 Lightning owners in the United States and Canada started reserving a complimentary Fast Charging Adapter, enabling the access to Tesla Superchargers.
