On November 24, according to SEC documents,Tesla CEO sold another approximately $1.05 billion of Tesla stock on Tuesday night local time, This is the third time he has sold stocks this month.
In addition to the US$6.9 billion and US$1.9 billion he sold in the previous two times, the total number of shares sold this month is 9.2 million, valued at more than US$9.9 billion.He is halfway through his plan to sell 10% of Tesla’s shares.。
So why does Musk want to sell stocks like crazy? This starts with a tweet.
As part of the compensation plan, Musk received a stock option award of 22.8 million shares in 2012 with an execution price of $6.24 per share.
These options will expire in August next year. Because this part of the stock is used as employee benefits or rewards, Musk must pay up to 54.1% of taxes for this. According to the current stock price calculation,Taxes will exceed 15 billion U.S. dollars。
On November 6, Musk launched a poll on Twitter asking whether his 62.5 million followers should sell 10% of Tesla shares. The voting results showed that nearly 58% of the 3.5 million votes supported the sale. .
So since November 8th, Musk began to sell stocks frequently. After the latest sale,Tesla’s stock price plummeted by more than 4% on Tuesday, suspending its upward trend for several consecutive daysHowever, the stock has risen by more than 50% this year.
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