On Monday, Musk filed a proprietor ownership report with the Securities and Exchange Commission (SEC) to state that he owns 73,486,938 Twitter shares (about 9.2 percent of his common stock and enough to make him the company’s largest individual shareholder). ) and The box marked on the form (pdf) indicated that it was a 13G Program, which allows a simple revelation for investors who intend to remain “passive” in the company’s affairs. We do not usually go into details about the stock market, but this is important because of what happened next. This morning, Twitter and its CEO, Parag Agrawal, announced that Elon Musk is joining the board and that the news has caused concern because it suggests a much more active role, which requires a more detailed form. Section 13D on the stock market. Failure to make the correct disclosure could result in a fine from the Securities and Exchange Commission, and as long as Elon seems to enjoy his ongoing controversy with the Fed His tweets and Eminem’s reference to a court case are just a few), it seems this is something he decided to avoid. Around the same time, news about the edit button was released, an updated deposit appeared, modifying the previous one, checking the right box and seemingly avoiding an unnecessary headache for the billionaire and his new game of 9.2%. More specifically, the new publication includes language related to Musk’s plans for his stake in the company and the company as a whole. The agreement states that it does not attempt to hold more than 14.9 per cent of Twitter shares as a condition of its participation in the board and that, apart from the possible sale or purchase of shares, it has no plans to try to sell the company or its subsidiaries. propose a merger or take any of the other actions listed under item 4 of the form. A New York Times report states that, unlike some other board members, Musk did not sign an agreement promising not to influence the company’s policies. The new deposit also has a lot more details than Monday’s form on how we got here. It suggests that Musk has been buying Twitter shares almost daily since January 31. He never bought less than 371,075 shares in the days he acquired them, peaking at 4,839,507 bought on February 7th and the last recorded lot was bought on April 1st. On April 4, Twitter announced its new role and a day later, we heard the news about the edit button (which Twitter says has been in the works for over a year and has nothing to do with any polls posted by newest member of its board of directors).
