Tesla’s Musk is taking advantage of all the stock options that will expire next year, Reuters said

San Francisco (Reuters) – Tesla Ince CEO Elon Musk has taken advantage of all the opportunities that will expire next year, which has put an end to stock sales, which has led to a fall in the share price of the world’s most valuable carmaker.

Musk said he would achieve the goal of selling about 10% of its stake in Tesla (NASDAQ 🙂 last week “when 10b pre-scheduled sales are completed,” probably referring to sales of shares related to its options.

Since early November, it has taken advantage of options that will expire next year and has sold a portion of Tesla’s shares to pay taxes in accordance with the “10b5-1 rule” established in September for the payment of taxes.

With the realization of the 1.6 million share option on Tuesday, it has taken advantage of all the 22.8 million share options that will expire in August. It also sold 934,090 shares to pay $ 1,020 billion in taxes, according to records.

“This 10b5-1 regulation plan ended on December 28, 2021,” Tesla said in the archives on Tuesday.

Tesla shares lost a quarter of their value in November after Musk asked his followers on Twitter (NYSE 🙂 if he should sell 10% of his shares. They bounced back to $ 1,088.47, but are still below the November closing record of $ 1,229.91.

CLOSE TO 10% GOAL

Musk has so far unloaded 15.7 million shares on Tesla, approaching a 10% stake that it has pledged to sell millionaires.

Of the 15.7 million shares, 10.3 million options were related to the exercise. Musk sold an additional $ 5.4 million, earning a powerful Tesla rally.

He has unloaded $ 16.4 billion worth of shares since early November, when Twitter users agreed he would sell 10% of Tesla shares if he agreed.

The Twitter poll took place two days after Tesla’s shares reached a record high following a rally sparked by a request from Hertz car rental company Hertz.