Tesla’s Musk completes options-related sales plan-filing By Reuters

Tesla's Musk completes options-related sales plan-filing
© Reuters. FILE PHOTO: Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo

San Francisco (Reuters) -Tesla Inc Chief Executive Elon Musk on Tuesday completed stock sales related to his options set to expire next year, according to securities filings.

“This rule 10b5-1 trading plan was completed on December 28, 2021,” the filings said, referring to Musk’s options-related sales set up in September via a trading plan.

The billionaire said on Dec. 22 that he would meet his target of selling about 10% of his stake in Tesla (NASDAQ:), when he is done with his “preprogrammed” sales.

“There are still a few tranches left, but almost done,” he tweeted at that time.

Musk exercised an option on Tuesday to buy 1.6 million shares of Tesla and sold 934,090 shares for $1.02 billion to pay for taxes associated with the option exercise, the filings showed.

With the latest transaction, he has exercised all of the options to buy 22.86 million stocks, which are set to expire next year, according to Reuters’ calculation.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.