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Elon Musk Sells $930 Mln Worth Tesla Shares

elonmusk nov17 lt

Tesla Inc. (TSLA) CEO Elon Musk has sold more than 934,000 company shares worth $930 million, filings at the US Securities and Exchange Commission or SEC, revealed on Monday.

The filings reveal that Elon Musk used options to purchase 2.1 million stocks at $6.24 each. Musk has to pay income taxes based on the difference between the exercise price and fair market value of the shares.

This is the second time in two weeks that Musk is using his stock options. According to a regulatory filing, on November 8, Musk exercised options to acquire nearly 2.2 million shares.

Earlier in November, Musk had done a poll on Twitter asking if he should sell 10 percent of his stock to pay taxes and saying that he would follow the result, which was in favor of the sale.

The filings also reveal that certain stock sold on Monday is part of a trading plan set up in September. Musk still has millions of stocks options he must exercise before they expire next August.

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