Elon Musk exercised options to buy 2,107,672 shares of Tesla at $6.24 each on Monday, then proceeded to sell 934,091 of them, to pay income tax obligations on the difference in prices from the exercise price and market value, reveal Form-4 filings with the SEC.
Given the low price of Tesla’s stock at $980 on Monday to a high of $1,031, Musk’s share sale is worth an estimated $930 million or more.
Exactly one week ago, the Tesla CEO also exercised options to buy 2,154,572 shares, and also sold the exact number afterwards at 934,091.
According to shares tracked by Dave Lee (@heydave7), Musk has sold 7,295,966 shares to date since last week, and has 9,704,034 shares remaining to sell to hit 17 million. Musk said he would sell 10% of his stake in Tesla shares, which would be at 17 million total to meet his Twitter pledge.
Here's a better look at things broken down by # shares exercised, # exercised shares sold, and # existing common shares sold.
Interesting to note:
1. @elonmusk exercised ~2.1m shares last Monday and today (Monday).
2. After exercised, he sold the same 934,091 shares both days. pic.twitter.com/ubNRU6nMLe— Dave Lee (@heydave7) November 16, 2021
On Sunday, Musk had taunted U.S. Senator Bernie Sanders, who is demanding billionaires “pay their fair share.” Musk said, “want me to sell more stock, Bernie? Just say the word,” suggesting he was about to sell more shares.
Want me to sell more stock, Bernie? Just say the word …
— Elon Musk (@elonmusk) November 14, 2021
Shares of Tesla are down 1.03% in after-hours trading and hit a low $978.64 on Monday, before rebounding to close at $1,017.63.
