Lordstown Founder Sells EVERYTHING He Has In The Automaker

Stephen Burns, the founder and former CEO of Lordstown Motors, has sold his entire stake in the electric vehicle maker. The sale was outlined in a regulatory filing. 

 

Burns’ sale of his Lordstown stake was made in three transactions between May and June. About 581,000 shares were sold on May 23, just before the company initiated a reverse stock split for an average price of $0.27 per share. Another 200,000 shares were sold for an average price of $3.74 per share on May 24, and the last 591,752 shares were sold at $4.99 per share on June 16, as noted in a Bloomberg News report.