"The pay plan would give Musk 423,743,904 shares, awarded in 12 tranches of 35,311,992 shares each if Tesla achieves various operational goals and market value milestones. Goals include delivering 20 million vehicles, obtaining 10 million Full Self-Driving subscriptions, delivering 1 million "AI robots," putting 1 million robotaxis in operation, and achieving a $400 billion adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization)."
""It's not like I'm going to go spend the money. It's just, if we build this robot army, do I have at least a strong influence over that robot army? Not control, but a strong influence. That's what it comes down to in a nutshell. I don't feel comfortable building that robot army if I don't have at least a strong influence.""
"The plan has 12 market capitalization milestones topping out at $8.5 trillion. The value of Musk's award is estimated to exceed $1 trillion if he hits all operational and market capitalization goals. Musk would increase his ownership stake to 24.8 percent of Tesla, or 28.8 percent if Tesla ends up winning an appeal in the court case that voided his 2018 pay plan."
Shareholders approved a compensation plan awarding Elon Musk 423,743,904 shares in 12 tranches tied to operational and market-cap milestones. Targets include delivering 20 million vehicles, securing 10 million Full Self-Driving subscriptions, delivering 1 million AI robots, operating 1 million robotaxis, and achieving $400 billion adjusted EBITDA. The plan sets 12 market-cap milestones up to $8.5 trillion and could value Musk's award at more than $1 trillion if all goals are met. Musk's stake would rise to 24.8 percent, or 28.8 percent with a successful appeal. Company leadership defended the package while some investors criticized its size.
#executive-compensation #tesla-shareholder-vote #operational-milestones #market-capitalization-targets
Read at Ars Technica
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