ChainCatcher reported that, according to a new filing from the U.S. Securities and Exchange Commission, Elon Musk has exercised all rights under his 2018 Tesla CEO compensation package. The filing shows that Musk received 304 million Tesla shares through the exercise, with paper gains of approximately $116 billion, equivalent to about RMB 780 billion.
The shares cannot be sold immediately. According to the disclosed filing, the stock will remain locked until 2028. Before the lock-up period ends, Musk will not be able to sell these shares, even though the rights under the compensation plan have already been fully exercised and the paper gains have been recorded.
The disclosure focuses on the exercise of Musk’s 2018 Tesla CEO pay plan, the number of shares obtained, the estimated book gain, and the lock-up arrangement. Under the filing, Musk will only be able to sell the shares after 2028.