According to Odaily Planet Daily, a new filing with the U.S. Securities and Exchange Commission shows that Elon Musk has exercised all rights under his 2018 Tesla CEO compensation plan. The filing states that Musk received 304 million shares, with paper gains of about $116 billion, equivalent to approximately RMB 7.8 trillion as cited in the report.
The disclosure separates the exercise of the stock rights from the ability to sell the shares. Although the compensation plan rights have been fully exercised, the shares are subject to a lock-up arrangement until 2028. Under that arrangement, Musk will not be able to sell the shares before the lock-up period ends.
The item was provided by CLS and published by Odaily Planet Daily. Based on the information in the report, the key details are the 2018 Tesla CEO compensation plan, the 304 million shares, the roughly $116 billion in paper gains, the RMB 7.8 trillion equivalent, and the restriction that keeps the shares locked until 2028.