According to a new filing with the U.S. Securities and Exchange Commission, Elon Musk has exercised all of the rights under his 2018 Tesla chief executive compensation plan. The filing shows that the arrangement gives Musk 304 million Tesla shares, with a book gain of about $116 billion, equivalent to roughly RMB 780 billion.
The shares are not immediately available for sale. The filing states that the shares will remain locked until 2028, and Musk will only be able to sell them at that time. In other words, the rights under the compensation plan have been exercised, but the disposal of the shares remains subject to the lock-up arrangement.
The key details disclosed in the filing are the origin of the rights in Tesla’s 2018 CEO pay plan, the share amount of 304 million shares, the book gain of approximately $116 billion, and the restriction that prevents sales until the lock-up expires in 2028.