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Elon Musk exercises more options, sells another $1 billion in Tesla stock

After a lull, Elon Musk sold another $1 billion in Tesla Inc. stock, continuing a nearly month-long sell-off that was expected to continue.

Based on file with On Thursday, Musk exercised a call option on 2.1 million shares at $6.24 per share and immediately sold more than 934,000 of them at prices starting at $1,058 by the Securities and Exchange Commission on Thursday. to 1,112 USD, earning about 1.01 billion USD.

The sale is the first for a Tesla executive since November 23, following a flurry of sales in the previous weeks.

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Musk has sold about 10.1 million shares worth about $10.86 billion since November 8, a day later. Musk’s Twitter Poll Decides He Should Sell 10% Of His Tesla Shares. Some stock purchases were going well before the poll was published.

Assuming Musk intends to sell his 10% stake, he’s already more than half way through. Before the sale started, his 10% stake amounted to about 17 million shares – so after Thursday’s sale, he has about 6.9 million shares left.

Also read: Tesla’s $1,900 Kids EV ‘Cyberquad’ Sold Out, Replenished, and Sold Out

Musk, the world’s richest man, has millions of stock options he needs to exercise by August 2022, and in September Musk said in September that he plans to sell a large chunk of the stock. in the fourth quarter. CNBC reported last month that Musk faces $15 billion in taxes on those options.

Tesla shared
TSLA,
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down more than 10% in the last 30 days, but still up 48% so far and up 54% over the past 12 months.

https://www.marketwatch.com/story/elon-musk-exercises-more-options-sells-another-1-billion-of-tesla-stock-11638504032?rss=1&siteid=rss Elon Musk exercises more options, sells another $1 billion in Tesla stock

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