Elon Musk completes Tesla (TSLA) stock sale

elon musk
Credit: Tesla

Elon Musk has completed his sale of Tesla (TSLA) shares, a process which started after the CEO asked his Twitter followers if he should sell 10% of his shares in the automaker.

On Tuesday night Musk exercised his final stock option on 1.554 million shares that were set to expire in August 2022.

According to the 10b5-1 regulatory filing, Musk also sold 934,090 shares for a total of $1.02 billion in order to pay taxes on the options.

Most importantly the filing also showed Musk is now done selling TSLA shares, with a footnote indicating “This Rule 10b5-1 trading plan was completed on December 28, 2021.”

Since his Twitter poll on November 6, Musk has exercised options on 22.862 million shares at an average price of $1,033.

In addition he has sold a total of 15.7 million shares at an average price of $1,043, falling slightly shy of the proposed 10% target (17 million).

When it is all said and done, Musk will pay the largest tax bill in American history of $13.8 billion on $29.2 billion of taxable income, according to an analysis by investment advisor Gary Black.

You can read the full regulatory filing below.

About Darryn John 5316 Articles
Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca