Tesla Inc Chief Executive Officer Elon Musk will purchase company stock worth USD 20 million in the next open trading session, the electric carmaker said in a filing on Wednesday.
The news comes weeks after Tesla and Musk agreed to pay USD 20 million each as fine as part of a settlement with the US Securities and Exchange Commission.
Tesla said the purchase is 'separate and apart from the settlement' between Musk, Tesla and the SEC.
Shares of the company rose 2 per cent in premarket trading.