Elon Musk Exercises Options on Tuesday, Sells 934,091 Tesla Shares Again
Tesla CEO Elon Musk has continued his streak of exercising stock options, then selling shares afterwards.
According to new Form-4 filings with the SEC on Tuesday afternoon, Musk exercised 2,113,761 options from his 2012 compensation plan, then proceeded to sell 934,091 shares. This is the third time he’s sold off exactly 934,091 shares, and at today’s Tesla share prices is around $930 million USD.
According to Dave Lee, who has been tracking Musk’s options and share sales, the Tesla CEO has sold 8,230,057 common and exercised shares. He needs to sell at least 8,769,943 shares to meet the 10% Tesla stake sell-off as per his recent Twitter poll.
Today @elonmusk exercised 2,113,761 shares (from his 2012 ceo compensation plan) and then sold 934,091 of those shares to pay taxes.
Total common + exercised shares sold to date is 8,230,057.$TSLA did well today even w/the selling and closed up 4% to $1054. pic.twitter.com/9TH1QYp7WF
— Dave Lee (@heydave7) November 17, 2021
Earlier today, Lee shared a breakdown of Musk’s tax rate when exercising his stock options. According to Lee, “at $1,050 stock price, Elon’s 22.8 [million] exercised shares would be worth $24 [billion]. Government would net $12.6 [billion].”
The Tesla CEO replied to Lee’s calculations to say, “accurate thread”.
— Elon Musk (@elonmusk) November 16, 2021
In a nutshell, Lee concludes, “Who would have thought back in 2012 the big winner of Elon’s 2012 CEO compensation plan would be the government?”