Elon Musk has exercised the entirety of his 2018 Tesla (TSLA) CEO pay package, acquiring 303,960,630 shares for a paper gain of about $116 billion, according to a new SEC filing.
But he didn’t sell a single share to do it — and the stock he received is locked up until 2028.
What the filings show
Tesla filed a Form 4 and a Schedule 13G amendment with the SEC on June 17, both reporting a transaction dated June 16, 2026.
Musk exercised options on 303,960,630 shares at a split-adjusted strike price of $23.34. Tesla closed at $404.66 that day, which puts the spread — the difference between what he paid and what the shares are worth — at $381.32 per share.
