Tesla dipped nearly 2% in premarket trading as Musk sold another 934,091 shares on Monday.Tesla CEO Elon Musk sold another 934,091 shares in the automaker, worth nearly $906.5 million, on Monday, as per filings made with the U.S. Securities and Exchange Commission.
Musk conducted the sale of shares to satisfy tax withholding obligations on the exercise of stock options to purchase 2.13 million shares of Tesla, as per the filings.
Musk has sold 12 million shares since he tweeted on November 6 that he would reduce his stake in Tesla Motors by 10%.
If you don't count the stocks he bought, the number of shares reduced has actually reached the goal that10% of the shares sold is equivalent to about 17 million shares.