Elon Musk Resumes Selling Tesla Stock, Sees Gross Proceeds Of $1.05 Billion
After taking a breather for nearly a week, it appears Elon Musk is back at it. Last night the chief executive of Tesla (NASDAQ: TSLA) filed four Form-4’s with the US Securities and Exchange Commission, indicating he has sold further stock in the electric car manufacturer.
As has become habit at this point, a total of 2.15 million stock options with an exercise price of $6.24 were exercised into common shares yesterday, bringing the total remaining options to be exercised down to 16.97 million. As expected, a total of 934,091 shares again were sold by Musk following the exercise.
This time however, after letting the equity breathe for several days, Musk managed to garner gross proceeds of $1,049,449,444.77 from the stock sales, as compared to Wednesday of last week when a similar sale net him only $973.4 million. The day before another similar transaction net him even less, at $930.7 million.
The latest round saw shares of the company sold between a range of $1,063.96 and $1,179.08.
To date, Musk has sold a total of 9.2 million shares for gross proceeds of approximately $9.9 billion.
Tesla last traded at $1,109.03 on the Nasdaq.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
