Elon Musk Exercises More Options, Sells $905 Million Worth of Tesla Shares

Tesla CEO Elon Musk has yet again exercised options to buy shares of Tesla at a strike price of $6.24 per share, as part of a 2012 compensation package.

Two filings published with the Security and Exchange Commission on Monday showed Musk bought 2.134 million shares through his options, then proceeded to sell 934,091 shares, worth $906.48 million, as part of his 10b51 plan, reports CNBC.

In early November, Musk launched a Twitter poll asking followers if he should sell 10% of his stake in Tesla, with results favouring the “yes” side at nearly 58%.

According to Musk’s stock sales since November recorded by Gary Black (@garyblack00), Musk has sold total shares of 12 million, reaching 70% of his 17 million target; he has raised $12.7 billion dollars so far. As for his options exercised, the total is just under $15 million, about 65% of his target exercised.

2/ To date, we estimate Elon has saved $1.0B in taxes by selling shares in 2021 before the 5% and 3% tax surcharges on $10M and $25M AGI respectively kick in on 1/1/2022 per Biden’s BBB bill, net of losses incurred by selling shares via 10b5-1 instead of via secondary. $TSLA

— Gary Black (@garyblack00) December 14, 2021

Earlier today, Musk was named the Person of the Year by TIME magazine.