Elon Musk sells more Tesla shares for $1.02 billion; nearing 10% target

Tesla Inc Chief Executive Elon Musk on Tuesday completed stock sales related to his options set to expire next year, according to securities filings.

"This rule 10b5-1 trading plan was completed on December 28, 2021," the filings said, referring to Musk's options-related sales set up in September via a trading plan.

The billionaire said on Dec. 22 that he would meet his target of selling about 10% of his stake in Tesla, when he is done with his "preprogrammed" sales.

"There are still a few tranches left, but almost done," he tweeted at that time.

Musk exercised an option on Tuesday to buy 1.6 million shares of Tesla and sold 934,090 shares for $1.02 billion to pay for taxes associated with the option exercise, the filings showed.

With the latest transaction, he has exercised all of the options to buy 22.86 million stocks, which are set to expire next year, according to Reuters' calculation.