In a joint filing on Thursday, Musk and the regulator requested an extension of one week to reach a resolution in their ongoing dispute.
The SEC asked Judge Allison Nathan to hold Musk in contempt for violating a Sept. 2018 settlement baring him from tweeting material information about Tesla without prior review by the company. The move followed February tweets from Musk that misstated, and then corrected, a production forecast for 2019.
The tussle culminated in a court hearing on Apr. 4, at which Nathan told both parties to go back to the bargaining table to settle their differences.
In the filing, Musk and the SEC said that they "conferred for over an hour by telephone earlier this week and are continuing to discuss potential resolution."
Tesla shares closed 0.83% higher on Thursday and are down 12.5% so far this year.