Elon Musk Sells More Tesla Shares

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SpaceX and Tesla CEO Elon Musk sold another 934,091 shares of his electric car company, which are worth around $906.49 million, according to a pair of financial filings with the Securities and Exchange Commission published late Monday.

He also exercised options to buy 2.13 million shares at the strike price of $6.24 per share granted to him via a 2012 compensation package.

Shares of Tesla closed down 5% at $966.41 on Monday.

The latest insider transactions by the Tesla CEO and centi-billionaire were part of a “Rule 10b5-1” trading plan dated Sept. 14, the filings said. This type of plan allows company insiders to execute trades in their own company’s stock for a set, future date.

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Earlier this month, the CEO also sold Tesla shares in batches amounting to about $963.2 million, and $1.01 billion worth of stock, bringing his total sold in December to more than $2.87 billion so far. He sold a total of $9.85 billion in Tesla stock in November.

– CNBC

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