Tesla CEO Elon Musk sold a massive stake in his company over the past several weeks. And yet he owns 564,000 more shares than he did at the start of the selling spree.
An analysis of his filings shows Musk is not backing away from his holdings in Tesla, despite his promise to follow a poll he sent to his Twitter followers, who called on him to sell 10% of his stake. So far he's sold 10.1 million shares — about 7 million shares short of the goal.That's because at the same time he is selling shares, he's also exercising options to buy additional stock. And he's doing so at a bargain exercise price of $6.
7 million other options that will allow him to buy that many additional shares, albeit at a higher exercise price than options he is now purchasing. He's not likely to exercise them soon, as virtually none of those options will expire until January of 2028. More options on their wayThe number of options Musk holds is likely to grow significantly in the coming year.
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