Elon Musk committed to offloading Tesla shares weeks before Twitter poll

Trading plan adopted 14 September

James Baxter-Derrington
clock • 1 min read
The CEO had already set in motion a plan to sell more than $1bn of stock
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The CEO had already set in motion a plan to sell more than $1bn of stock

Tesla CEO Elon Musk had already set in motion a plan to sell more than $1bn of shares in the company weeks before he launched a Twitter poll, asking if he should offload stock.

According to an SEC filing from 14 September, Musk committed to selling at least $1.1bn of shares, 54 days before he launched his Twitter poll in which he asked the internet whether he should sell 10% of his stock. As a result of this filing, known as a 10b5-1 plan often used to avoid suspicion of insider trading, he sold the shares on 8 November. JP Morgan American trust ditches stocks on ESG concerns The shares were originally acquired by Musk on 13 August 2012 as part of an options scheme, meaning he was able to purchase the stock for a price of $6.24, before offloading it at th...

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