Read more about Tesla’s Elon Musk exercises all of his stock options expiring next year on Business Standard. Tesla shares were trading down 1.1% to $1,077.03 each on Wednesday
Inc Chief Executive has exercised all of his options expiring next year, signaling an end to his stock sales which triggered a fall in the share price of the world’s most valuable carmaker. He has sold $16.4 billion worth of shares since early November when he said he would sell 10% of his stock if Twitter users agreed. They did. Musk said last week that he would be done selling shares after his programmed sales ended. Musk in September set up a prearranged plan for stock sales related to options expiring next year and in a filing on Tuesday said the program was complete. The last trades, reported on Tuesday, included exercising an option on 1.6 million shares and selling 934,090 of those shares to pay for taxes. In total, Musk has sold 15.7 million shares in Tesla late in this year, approximately the 10% stake the billionaire had pledged to sell.
