Musk sold 587,638 shares held by his trust on November 11 in
multiple transactions at prices ranging from $1,056.03 to $1,087.88, according
to one of the filings.
A second filing showed that Musk sold an additional 52,099
shares held by his trust at prices ranging from 1,088.01 to $1,104.15.
Musk, the world's richest person and Tesla's top
shareholder, tweeted last weekend that he would sell 10 percent of his stock if
users of the social media platform approved the move. Days after Musk disposed
$5 billion of the stock, or 3 percent of his total holdings, the first such
move since 2016.
In the first round of share sale, filings showed Musk's
trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while
he also sold another 934,000 shares for $1.1 billion to cover tax obligations
after exercising options to acquire nearly 2.2 million shares.
Prior to the sales, Musk owned about 23 percent stake in
Tesla, including stock options.
Musk had previously said that he would have to exercise a
large number of stock options in the next three months, which would create a
big tax bill. Selling some of his stock could free up funds to pay the taxes. ©
Reuters
0 comments:
Post a Comment