Fri 03 December 2021:
Elon Musk, CEO of Tesla Inc, sold another 934,091 shares of the electric vehicle maker for $1.01 billion to meet his tax obligations related to the exercise of options to purchase 2.1 million shares, according to regulatory filings on Thursday.
In early November, the world’s wealthiest person tweeted that if users of the social media platform approved, he would sell 10% of his stock. The sale had been approved by the vast majority of them.
Musk has exercised options to buy 10.7 million shares and sold 10.1 million shares for a total of $10.9 billion since November 8.
Following a flurry of option exercises, Musk still has an option to purchase approximately 10 million additional shares at $6.24 per share, which expires in August of next year.
Tesla shares slipped 1% on news of the sale, trading at around $1,085 per share in pre-market on Friday. They have lost around 11% since Musk started unloading stocks last month.
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