The man who started electric pickup truck startup manufacturer Lordstown Motors then resigned as CEO has sold more than $16 million worth of stock in the company since early last week.

According to documents filed with the U.S. Securities and Exchange Commission, Steve Burns has sold 8,679,000 shares of Lordstown Motors Common Stock worth $1.70 to $1.97 per share in separate transactions since November 8.

The total worth of the five recent transactions amount to $16,224,150.

The sales leaves Burns with a remaining 26,683,745 shares of LMC as of Tuesday.

This past April Burns sold 7,785,000 LMC shares worth a total of $19,629,600. During the previous November he sold 3,204,000 shares which were valued at $5.88 at the time.

Burns became CEO of Lordstown Motors after announcing in 2019 that he was in negotiations with General Motors to purchase its former Lordstown Assembly Plant to manufacture electric powered pickup trucks, which eventually became known as the Endurance.

In June of 2021, Burns resigned as LMC CEO at the same time the company disclosed that a special committee looking into a damaging report by Hindenburg Research found “issues regarding the accuracy of certain statements regarding the company’s pre-orders.”

Although the committee concluded that Hindenburg’s report was false and misleading, it did find some credence in claims about inaccurate pre-order disclosures made by LMC.