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Elon’s brother Kimbal Musk makes more than $7 million in profit from Tesla stock trading



Elon’s younger brother Kimbal Musk made $7 million in Tesla Inc. shares. He bought the shares through stock options, and the average price on the day was higher than the price he paid. Sell ​​Tesla for $600.

In a Form 4 filing with the U.S. Securities and Exchange Commission later on Monday, Tesla revealed that Kimbal, a member of the electric car manufacturer’s board of directors, exercised an option to purchase $890,000 on April 1 at a price of $74.17 per share. 12,000 ordinary shares. . Since October 2008, Elon has been the CEO of Tesla.

According to MarketWatch calculations on Form 4 data, Tesla said on the same day that Kimbal sold 1

2,000 shares on the open market at a weighted average price of US$675.856, raising US$8,110,149.46.

Of the net amount, Kimbal earned $7,220,109.46.

The company stated that the stock sale is part of the Rule 10b5-1 trading plan passed by Kimbal on May 19, 2020.

Stock TSLA,
-0.10%
In the most recent afternoon trading, it rose slightly by 0.1% on Tuesday to $691.41, after rising by 4.4% on Monday. YTD, the stock is down 2.0%, and the S&P 500 index SPX,
-0.10%
An increase of 8.6%.

Kimbal’s stock sale on April 1 was conducted through a series of transactions, with prices ranging from $660.113 to $691.35. On the same day, the stock rose 3.7% shortly after the opening, to an intraday high of 692.42 US dollars, then reversed and fell 1.3% to an intraday low of 659.42 US dollars, and then closed down 0.9% to 661.75 US dollars.

After the sale of the shares, he still owns 599,740 shares of Tesla common stock, which are valued at approximately $414.7 million at current prices. He also beneficially owns an option to buy 197,250 shares.

FactSet, MarketWatch

Kimbal has been very good at finding recent highs in Tesla stock in recent months. The last time he sold shares was on February 9th, at a weighted average price of US$852.117. The stock closed at $849.46 that day, and the closing price has been below that level since then.

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Prior to this, Kimbal sold the stock on September 1, which marked a high of approximately 2 1/2 months for the stock.


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