News > Tesla's Elon Musk sells $930 million in shares to cover stock option tax: Report
Tesla's Elon Musk sells $930 million in shares to cover stock option tax: Report
Times of India | 16/11/2021 08:43 PM | Click to read full article
Tesla CEO Elon Musk has sold $930 million in shares to meet tax withholding obligations related to the exercise of stock options, US securities filings showed on Monday.
Musk sold 934,091 shares after exercising options to buy 2.1 million stocks at $6.24 each on Monday. Tesla shares closed at $1,013.39. He is required to pay income taxes on the difference between the exercise price and the fair market value of the shares.