This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Musk Exercises Final Batch of Tesla Stock Options Behind Recent Share Dealings
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Tech > Musk Exercises Final Batch of Tesla Stock Options Behind Recent Share Dealings
Tech

Musk Exercises Final Batch of Tesla Stock Options Behind Recent Share Dealings

Editorial Board Published December 29, 2021
Share
Musk Exercises Final Batch of Tesla Stock Options Behind Recent Share Dealings
SHARE

Elon Musk has exercised the final batch of a package of vested Tesla Inc. TSLA -0.50% stock options that have underpinned several weeks of share dealings by the chief executive.

Mr. Musk on Tuesday converted more than 1.5 million options due to expire in August 2022 into stock and sold more than 934,000 shares to cover associated taxes, according to regulatory filings.

The Tesla boss has now exercised more than 22.8 million stock options since the transactions began last month. That total represents all of the vested options that would have expired next year, which Mr. Musk earned under a 2012 compensation package.

The transactions have boosted Mr. Musk’s holding in Tesla from around 170.5 million shares to more than 177 million shares.

The combined share sales over that past few weeks have reached a value of more than $16 billion. The sales mostly are linked to a scheduled investment plan Mr. Musk set in September, according to disclosures.

After setting the investment plan, Mr. Musk last month polled Twitter users about whether he should sell 10% of his Tesla stock; people on the social-media platform that voted endorsed the idea of a sale. The chief executive began exercising Tesla stock options and selling shares in the company on Nov. 8.

Mr. Musk has sold around 15.7 million shares since then. How many shares constitute fulfilling his 10% pledge depends on how Mr. Musk defines his ownership stake. Mr. Musk, who is compensated by Tesla in stock awards and doesn’t accept a cash salary from the company, last week said on Twitter that “there are still a few tranches left, but almost done.”

Tesla didn’t immediately respond to a request for comment about whether Mr. Musk planned to sell more of the company’s stock in the coming weeks.

Mr. Musk has a net worth of around $279 billion, making him the richest person on the Bloomberg Billionaires Index. He also has sold some stock in recent weeks not related to the stock options.

Mr. Musk said he would pay more than $11 billion in taxes this year. He has verbally sparred with some Democrat lawmakers over taxes, including Sen. Elizabeth Warren (D., Mass.), who called on the billionaire to pay more. Mr. Musk responded by saying that he will pay more taxes than any American in history this year.

Mr. Musk is likely to have future rounds of such trading activity under a blockbuster 2018 compensation plan approved by shareholders. Mr. Musk has already secured additional stock options under that program.

Tesla’s shares slumped after Mr. Musk began his transactions last month. The stock, which closed down 0.5% on Tuesday at $1,088.47, is down more than 10% from the day Mr. Musk took the Twitter poll.

Write to Robert Wall at [email protected]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the December 29, 2021, print edition as ‘Musk Exercises Options in Share Sale.’

TAGGED:Tech NewsWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Harry Reid dies at 82 Harry Reid dies at 82
Next Article IPOs’ Record Year Ends on Low Note for Most Newcomers IPOs’ Record Year Ends on Low Note for Most Newcomers

Editor's Pick

California dwelling of lacking child’s mother and father searched; father has served time for youngster cruelty

California dwelling of lacking child’s mother and father searched; father has served time for youngster cruelty

San Bernardino County sheriff’s investigators on Sunday, Aug. 17, searched the house of the mother and father of the infant…

By Editorial Board 9 Min Read
Farmer Needs a Spouse: John Sansone and Claire Dinette Break up!
Farmer Needs a Spouse: John Sansone and Claire Dinette Break up!

Studying Time: 2 minutes It's sadly over for one more actuality tv…

4 Min Read
Meri Brown Hints at “Accusations, Heartbreak” in Instagram Publish
Meri Brown Hints at “Accusations, Heartbreak” in Instagram Publish

Studying Time: 3 minutes Meri Brown seems to be going via it…

5 Min Read

Oponion

Stocks Little Changed as Retail Sales Grow

Stocks Little Changed as Retail Sales Grow

U.S. stocks rose on Tuesday after a report on consumer…

November 16, 2021

Nazi plunder: French museums to return looted paintings to Jewish heirs

Eighty years in the past, on…

January 25, 2025

9 Greatest Males’s Excessive-Waisted Pants For 2024 | Fashion

Vogue is a fickle previous sport,…

October 10, 2024

Inoue received the weekend and proved as soon as once more he is must-see TV

Andreas HaleMay 5, 2025, 02:06 AM…

May 5, 2025

Taylor Swift Pronounces Eras Tour BOOK: Get All of the Particulars!

The Eras Tour will quickly be…

October 16, 2024

You Might Also Like

Selecting the Proper MacBook Is not As Troublesome As You Would possibly Suppose
Tech

Selecting the Proper MacBook Is not As Troublesome As You Would possibly Suppose

The larger change is in what number of exterior shows the M3 MacBook Air can help. Whereas the M4 mannequin…

29 Min Read
Our Editors’ Favourite Large Display screen Chromebook Is Now 9
Tech

Our Editors’ Favourite Large Display screen Chromebook Is Now $159

Again to high school is at all times a good time to choose up a deal on a brand new…

2 Min Read
The Rad ‘Tony Hawk’s Professional Skater 3+4’ Remasters Are  Off Proper Now
Tech

The Rad ‘Tony Hawk’s Professional Skater 3+4’ Remasters Are $15 Off Proper Now

In search of a wholesome dose of gaming nostalgia? It can save you $15 on Tony Hawk’s Professional Skater 3+4,…

3 Min Read
The Finest Paper Planners Our Editors Use to Set up Their Lives
Tech

The Finest Paper Planners Our Editors Use to Set up Their Lives

There's nothing like the sensation of a brand-new planner. As the brand new faculty yr kicks off, we have discovered…

32 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?