Tesla Chief Executive Officer Elon Musk reported an additional $687 million share sale in the electric-car company on Friday, after dumping roughly $5 billion in stock earlier in the week, according to regulatory filings.

According to two different filings, Musk sold 587,638 and 52,099 shares held by his trust on Nov. 11 in multiple transactions.

In premarket trade, Tesla shares were up 0.5 percent to $1,069 per share.

Musk, the world's richest man and Tesla's largest shareholder, announced last weekend that he would sell 10% of his stock if Twitter users approved the move.Elon Musk brother sold $109 mn in Tesla stock ahead of contentious Twitter poll

Musk's trust sold nearly 3.6 million shares in Tesla in the first round of share sales, valued at around $4 billion, according to filings, and he also sold another 934,000 shares for $1.1 billion to cover tax obligations after exercising options to acquire nearly 2.2 million shares, according to filings.

Musk had a 23 percent ownership in Tesla prior to the transaction, including stock options.

Musk previously stated that he would have to execute a substantial amount of stock options within the next three months, resulting in a significant tax burden. Selling some of his shares may be able to help him pay his taxes.