Elon Musk Sold $1.1 Billion USD of Tesla Stock To Pay Taxes, Following Twitter Poll

Elon Musk Sold $1.1 Billion USD Tesla Stock Pay Taxes Twitter Poll Info

Following his questionable Twitter poll, Elon Musk has now offered 934,000 shares/$1.1 Billion USD of Tesla Stock to fulfill taxes from alternatives. Final week, the CEO of the electric automobile producer launched a poll on Twitter, proposing the sale of 10% of his Tesla inventory. Receiving 58% of the three.5 million votes in favor of a sale, Musk exercised 2.15 million alternatives at a tag of $6.24 per contract.

Discover of the poll made headlines plummeted Tesla’s inventory and successfully shedding $50 billion USD from Elon Musk’s catch price. It’s fascinating to display veil that the contracts offered were from a inventory possibility award Musk got in 2012 and were role to expire August 2022.

An genuine filing with the SEC notes the gross sales were to “totally to fulfill the reporting particular person’s tax withholding obligations linked to the exercise of inventory alternatives.” Furthermore, the transactions were from a pre-organized shopping and selling belief adopted in mid-September.

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