Key insights
- GM's Executive VP, Rory Harvey, sold over $7M in company stock after exercising stock options and PSUs. The sales occurred near GM's 52-week high. InvestingPro analysis suggests GM is currently overvalued. While not a strong bearish signal, insider selling at high valuations can be a mild negative indicator.
Rory Harvey, Executive Vice President at General Motors Co. (GM), sold common stock totaling $7,049,301 across multiple transactions in late May, according to a recent SEC Form 4 filing. The transactions occurred between May 22 and May 27, 2026.The sales come as GM stock trades at $84.12, near its 52-week high of $87.62, following a remarkable 73% gain over the past year. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value estimate, placing it among companies on the Most Overvalued list.
On May 22, Mr. Harvey acquired 5,652 shares of common stock upon the exercise of employee stock options. This acquisition was valued at $233,992, with a price of $41.40 per share. These options were granted on February 7, 2023, and were fully vested. On the same day, Mr. Harvey sold these 5,652 shares for $79.57 per share, totaling $449,603.64.
Further sales took place on May 27. Mr. Harvey sold 13,582 shares of common stock at a weighted average price of $82.97 per share, generating $1,128,007.54. These shares originated from Performance Stock Units (PSUs) granted on February 7, 2023, which vested on February 7, 2026, after achieving certain financial targets.
Also on May 27, an additional 65,912 shares were sold at a weighted average price of $83.03 per share, totaling $5,472,090.36. These shares were also derived from PSUs, granted on July 3, 2023, and vested on February 7, 2026, based on financial performance. The prices for the shares sold on May 27 ranged from $82.97 to $83.25.
Following these transactions, Mr. Harvey directly owns 46,519 shares of General Motors Co. common stock.For deeper insights into GM’s valuation and performance metrics, investors can access the comprehensive Pro Research Report, available for GM and 1,400+ other US equities on InvestingPro.
In other recent news, General Motors reported first-quarter revenue of $43.6 billion and earnings per share of $3.70, surpassing consensus estimates of $43.4 billion and $2.60, respectively. The company’s wholesale auto units totaled approximately 899,000, reflecting a slight year-over-year decline of about 1%, although average transaction prices increased by 3%. Wells Fargo raised its price target for General Motors to $59 from $57, citing the company’s adjusted EBIT performance that exceeded expectations and an upward revision in full-year adjusted EBIT guidance. Conversely, Mizuho adjusted its price target downwards to $100 from $105, attributing the change to cost headwinds while maintaining an Outperform rating.
Freedom Broker resumed coverage of General Motors with a Hold rating, referencing the company’s better-than-expected first-quarter 2026 results. In a separate development, General Motors announced a workforce restructuring in its information technology department, resulting in the elimination of up to 600 salaried positions. This move is part of a broader cost-reduction strategy. Additionally, Morgan Stanley reported that U.S. auto sales in April slightly exceeded expectations, with a seasonally adjusted annual rate of 16.1 million units, although sales were down 6% year-over-year.
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