New Delhi: CEO Tesla Elon Musk has sold $ 930 million shares to fulfill tax deduction obligations related to the implementation of stock options, US securities submission shows on Monday.
Musk sold 934,091 shares after exercising to buy 2.1 million shares at $ 6.24 each on Monday.
Tesla’s shares closed at $ 1,013.39.
He is required to pay income tax for the difference between exercise prices and fair market value of shares.
This is the second time in a week that billionaires have carried out their stock options.
Last Monday, he sold 934,000 other shares for $ 1.1 billion after exercising options to obtain nearly 2.2 million shares.
Two related sales options are set in September through a trade plan that allows people in the company to establish transactions prepared on the schedule, the word archiving.
At the end of 2020, he had the option to buy 22.86 million shares, which ended in August next year, Tesla’s archiving shows.
On November 6, Musk bubbled Twitter users about selling 10% of their shares, pushing Tesla’s stock prices after the majority on Twitter said they agreed with sales.
It is unclear how or whether the trade plan is related to the Twitter Musk poll.
Musk Tesla sells $ 930 million shares to cover stock option tax
