June 28, 2022

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Elon Musk covered Endeavor options in 7,583 shares as he prepares to exit the board

Elon Musk filed a Form 4 with the Securities Commission, and transferred his options in Endeavor Group Holdings, Inc. to 7,583 shares on June 13, 2022.

Endeavor Group Holdings, Inc. Entertainment content through its affiliates. She specializes in marketing, licensing, representation, and event management.

Elon Musk is part of the Endeavor Board of Directors. However, Musk informed the company that it will be Resignation from its board of directors by June 30, 2022, showing its last submission in Form 4.

“The board has agreed to downsize from eight to seven members subject to the effectiveness of Mr. Musk’s resignation,” according to a filing from the Securities and Exchange Commission earlier this year. It also revealed that Musk’s exit “was not the result of any disagreement with the company on any issue related to its operations, policies or practices.”

Endeavor is listed as a media industry company in the telecommunications sector. Musk’s exit from Endeavor appears timely as he finalizes his $44 billion acquisition of Twitter. The social media platform appears to be more in line with the Tesla CEO’s plans in terms of media.

Elon Musk will participate in a virtual all-hands game Meeting with Twitter employees This Thursday, June 16th. He will answer staff questions on Twitter.

The Tesla CEO previously updated the SEC file regarding his purchase on Twitter. He stated that the Twitter deal will be “Temporarily Suspended” So that the social media company can provide data on spam and fake accounts. However, recent reports indicate that Elon Musk will reiterate his desire to own Twitter during his June 16 meeting with company workers.

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Elon Musk covered Endeavor options in 7,583 shares as he prepares to exit the board