That's nice. Plans change if you end up owing legal damages.
It's not quite that simple he has to file in advance in order to sell.
Saying no plans to sell means he has not filed with the SEC saying he will sell.
He doesn't have legal damages yet, so of course he hasn't filed to sell his shares at this point.
If you don't have more than 51% percent or major equity then you're pretty powerless in the company.
Also selling equity is like showing doubt about the mission of the company which will also kill the company
Pretty much non-news. If he is ruled against in the defamation lawsuit, he doesn't weasel out of paying via the "illiquid" argument. Liens can be placed against stock.
Musk’s attorney had the same opinion and expressed it with the exact same words. What a coincidence!
I did not know tesla stock is illiquid.
Tesla stock held by Elon Musk is most definitely illiquid for some rather reasonable interpretations of that word. As the CEO he can't just sell whenever he wants.
I don't understand why any of this is an issue. He can get a loan to pay now, file a 10b5-1 to sell stock in the future and repay the load then.
It's not an issue, this is a non-story.
What about when given legal fees?
He's allowed to sell, he just has to jump through some hoops. He just can't log into Robinhood and make some trades.