Tesla, Inc. is trading 4% up at $359.20 after Elon Musk completed a $116 billion stock-based compensation exercise, locking up 304 million shares until 2028 and easing overhang fears.
- The lock-up of 304 million shares reduces near-term supply concerns and reinforces long-term alignment between Musk and the company.
- Tesla shares are outperforming broader indices, which are currently trading mixed to slightly lower as the market digests the scale and structure of the award.