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.
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