Elon Musk has exercised the full 2018 Tesla CEO compensation award, securing 303,960,630 shares for an approximate $116 billion paper gain according to an SEC filing. No shares were sold during the transaction and the acquired stock remains restricted until 2028.
All shares acquired through the award stay restricted until 2028.
At prevailing valuations the award creates major unrealized value while avoiding an immediate tax obligation that would arise from a sale.
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Tesla marked the start of high-volume Semi production at its new Sparks, Nevada factory on September 24. The plant, which Tesla says covers 1.8 million square feet, is built to scale to 50,000 trucks annually.
Tesla reportedly conducted intensive supplier audits across China's Yangtze River Delta last week as it prepares Optimus production. The visits to potential suppliers Tuopu Group, Sanhua Holding Group, and Joyson Electronics in Ningbo, Hangzhou, and Shanghai leverage existing automotive partners rather than confirming a mass-production acceleration.
Tesla postponed its next-gen Roadster reveal from October 1 to October 15, citing severe weather for an outdoor-only event. The company said additional details will follow and did not announce a new start time.
Tesla has started sending invitations for its Semi Rollout event on September 24 at the new factory in Sparks, Nevada. The gathering will showcase the facility, which Tesla says covers 1.8 million square feet, built to produce up to 50,000 trucks per year along with refreshed vehicle features and fleet economics.
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