Photo: Kimbal Musk/Instagram
On Wednesday, Tesla (NASDAQ: TSLA) board member, Kimbal Musk, bought 25,000 shares in the manufacturer, exercising a call option to buy TSLA shares at a price of $74.17.
Tesla board member Kimbal Musk made a purchase of the company's shares. The purchase followed exercising of a call option to buy the shares at an exercise price of $74.17 on Monday, Benzinga reported. The purchase of 25,000 shares cost $1.85 million, according to the Form-4 filing. The expiration date for the call option, which gives the right to buy the stock, is June 18, 2025. After completing the last purchase, Musk now owns 536,240 Tesla shares.
Musk’s stock option award is a triennial award granted to the board member following the electric vehicle maker’s 2010 equity incentive plan and outside director compensation policy. About 1/36 of the 2010 award could be vested and exercised as of each monthly anniversary following June 18, 2018.
© 2022, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
Legal Disclaimer --
This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.