<p>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.</p>.<p>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 fair market value of the shares.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/musk-sells-more-tesla-stock-bringing-total-to-69-billion-1050177.html" target="_blank">Musk sells more Tesla stock, bringing total to $6.9 billion</a></strong></p>.<p>This is the second time in a week that the billionaire has exercised his stock option. Last Monday, he sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.</p>.<p>The two options-related sales were set up in September via a trading plan that allows corporate insiders to establish preplanned transactions on a schedule, the filings said.</p>.<p>As of the end of 2020, he had an option to buy 22.86 million shares, which expire in August next year, a Tesla filing shows.</p>.<p>On November 6, Musk polled Twitter users about selling 10 per cent of his stake, pushing down Tesla's share price after a majority on Twitter said they agreed with the sale. It was not clear how or whether the trading plan related to Musk's Twitter poll.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>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.</p>.<p>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 fair market value of the shares.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/musk-sells-more-tesla-stock-bringing-total-to-69-billion-1050177.html" target="_blank">Musk sells more Tesla stock, bringing total to $6.9 billion</a></strong></p>.<p>This is the second time in a week that the billionaire has exercised his stock option. Last Monday, he sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.</p>.<p>The two options-related sales were set up in September via a trading plan that allows corporate insiders to establish preplanned transactions on a schedule, the filings said.</p>.<p>As of the end of 2020, he had an option to buy 22.86 million shares, which expire in August next year, a Tesla filing shows.</p>.<p>On November 6, Musk polled Twitter users about selling 10 per cent of his stake, pushing down Tesla's share price after a majority on Twitter said they agreed with the sale. It was not clear how or whether the trading plan related to Musk's Twitter poll.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>