The sale of stocks has been 5 years since Musk sold the stocks last time. In 2016, Musk exercised stock options to sell shares for the first time.At that time, he sold the stock and paid approximately $590 million in income tax.
In addition, it is worth noting that the documents stated that the sale of these shares was “purely to pay the declarant’s tax deduction obligations related to the exercise of stock options.”The documents also show that these transactions were carried out in accordance with the pre-arranged transaction plan adopted in mid-September.
Last week, Musk announced through an online vote that he would “sell 10% of Tesla’s shares.” The voting results show that 57% of netizens support Musk’s stock sale. Musk said he would comply with the voting results and sell the shares.
However, the file shows,The disclosure plan for the sale of shares will be carried out as early as mid-September, which means that Musk will sell the shares no matter what the outcome of the voting is.
At the same time, Musk also expected the results of the vote, and most netizens would support his sale of stocks. Therefore, Musk’s online voting is a perfect boost for his public reduction of Tesla stock, and it minimizes the factors affecting the stock price of the reduction. It can be regarded as a textbook-level public reduction.