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Elon Musk exercises Tesla options for 175,000 fresh shares



Tesla Inc.

TSLA, -0.14%

CEO Elon Musk exercised options for 175,000 shares in the car company, adding his efforts at prices less than one third of the price. Muska's options for more than 5 million Tesla shares triggered years ago, and he has previously exercised more than 500,000 options at a lower price. According to a filing with the Securities and Exchange Commission, Musk exercised the fresh shares on Monday at a price of $ 31.17, and paid the cost of utilizing the options – nearly $ 5.5 million ̵

1; as well as the taxes without selling other shares. Musk still has access to about 4.6 million known options, according to SEC filing, and they expire in just over three years. Prior to Monday's option exercise, Musk owned 19.5% of the Tesla share, according to FactSet. Tesla stock closed Tuesday at $ 205.08, having fallen by 29% over the past 12 months.

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