Tesla CEO Elon Musk has completed his sale of the company’s shares, after exercising a tranche of stock options.
In an SEC Form 4 filing on Tuesday evening, the footnote stated, “This Rule 10b5-1 trading plan was completed on December 28, 2021,” according to Gary Black, managing partner, The Future Fund.
Musk had stock options expiring in August of 2022 and he has now exercised them, instead of letting them expire (which would be unwise considering Tesla’s incredible stock growth since the options were awarded in 2012).
According to data compiled by Black, Musk exercised 1.554 million options on Tuesday, the last of the remaining tranche. Musk then sold 934,090 shares, a number slightly different from his previous pattern of 934,091 share sales.
The Tesla CEO exercised 22.862 million options (100% of the target) at an average price of $1,033 per share.
As for Tesla shares sold, Musk let go of 15.7 million shares, which is 92% of the 17 million target needed, to meet his obligations of a Twitter poll from early November, asking if he should sell 10% of his stock holdings in Tesla. Musk sold these shares at an average price of $1,043, according to Black.
@elonmusk completed his 10b5-1 program tonight, exercising the last 1.554M tranche of options expiring Aug 2022, and selling 934,090(!) shares. As stated in the Form 4 footnote: “This Rule 10b5-1 trading plan was completed on December 28, 2021.” Yes, Elon is done selling $TSLA. pic.twitter.com/taOGy3025o
— Gary Black (@garyblack00) December 29, 2021
From the Tesla shares sold, Musk paid $13.8 billion in taxes on $29.2 billion of taxable income.
This is such a deeply messed up lie to the American people. She is the one freeloading off taxpayers, while I’m paying the largest amount of tax of any individual in history.
Is @SenWarren really someone we want as a US senator?
— Elon Musk (@elonmusk) December 17, 2021
Back on December 17, Musk replied to critic Senator Elizabeth Warren, saying “I’m paying the largest amount of tax of any individual in history.” Warren has been criticizing Musk as a “freeloading billionaire”, saying he “avoids taxes” in a targeted Facebook ad campaign, while asking for donations from supporters in the process.
