Elon Musk’s brother and Tesla board member Kimbal Musk exercised a call option to buy 25,000 Tesla shares at $74.17 per share on Monday, a Form-4 filing showed. The shares cost Kimbal $1.85 million owning now a total of 536,240 shares and the expiration date for the call option is June 18, 2025.
In a tweet, Kimbal said, “Tesla is just getting started. I can’t wait for the next decade of awesome from my brother and his amazing team”.
In late February, Kimbal was investigated by the Securities and Exchange Commission (SEC) for insider trading regarding his sale of 88,500 Tesla shares on November 5, 2021.
On the day after, his brother and Tesla CEO Elon Musk posted made a Twitter poll asking his followers if he should sell 10 percent of his shares for capital gains. At the time, the poll had the participation of 3.5 million accounts, with 57.9 percent of respondents supporting Musk selling the stock.
Tesla announced Wednesday its Q2 2022 Earnings Results reporting total revenue of $16.9 billion (up 42% year-over-year) and a 14.6% operating margin saying it expects to achieve “50% average annual growth in vehicle deliveries” confirming the previous guidance.
Tesla also detailed the production in each factory adding that it achieved “record production rates across the company”. However, the company warned of “continuation of manufacturing challenges related to shutdowns, global supply chain disruptions, labor shortages and logistics and other complications, which limited our ability to consistently run our factories at full capacity”.