Tesla (TSLA) Stock Price Gains as Musk Exercises All Stock Options Expiring Next Year, Sells More Shares
Shares of Tesla (NASDAQ: TSLA) are up more than 2% in pre-open Wednesday after CEO Elon Musk exercised all of his stock options that are due to expire next year.
This would signal an end to his Tesla stock selling spree, although he sold another $1.02 billion worth of Tesla shares today. Musk hinted last week that Tesla stock selling will be concluded once the 10b preprogrammed sales are completed.
"This rule 10b5-1 trading plan was completed on December 28, 2021," Tesla said in filings yesterday.
Musk now exercised all of the options on 22.8 million shares. He sold 15.7 million shares of Tesla so far to approach the 10% stake he said he will sell after a Twitter poll in early November.
Out of these 15.7 million Tesla shares, 10.3 million are related to options he exercised. The billionaire earned $16.4 billion from selling Tesla stock since early November. He could sell an additional 1.3 million Tesla shares if he is to offload 10% of his stake.
Tesla stock price closed at $1.088.47 yesterday.