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.

Information for this briefing was found via Edgar. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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