DarkandStormy
Active Member
From the 2024 TSLA Proxy - Elon is capped from borrowing against his shares the lesser of $3.5B or 25% of the value of his pledged shares. P152, f1 shows that as of 3/31/24, Elon has pledged 238,441,261 shares as collateral for his indebtedness. TSLA's stock price around that time was $175.79, making the pledged collateral worth approximately $41.9B and 25% of that valued at approximately $10.5B. Since Elon is capped at $3.5B, why does he have $41.9B pledged?
BOD is MIA.