"Let me tell you why this is the right plan for Tesla and its shareholders. This plan wouldn't pay Elon based on promises - it is 100% contingent on a framework that requires achievement of market capitalization and operational milestones in support of his vision and ties his incentives directly to meeting those milestones. When you consider the details of the plan, it's clear that creating extraordinary value for shareholders is the absolute priority."
"I was in the room as a governance advisor to the Tesla Board's Special Committee and have a direct understanding of the thoughtful strategy behind this performance award. This plan was developed through a best-in-class corporate governance process. How do I know that? I have over 30 years of experience in corporate governance, M&A, and board leadership as an advisor, practitioner, educator, and expert witness - I've seen these processes play out countless times and know what effective and thoughtful board oversight looks like."
A governance advisor participated in the Tesla Board's Special Committee on the development of Elon Musk's incentive compensation proposals and provided a firsthand perspective on the plan's strategy. The compensation package is structured so that payment is 100% contingent on achieving specified market capitalization and operational milestones tied to Musk's vision. The plan links incentives directly to measurable milestones, prioritizing creation of extraordinary shareholder value. The Special Committee implemented a best-in-class corporate governance process in developing the award. The design departs from typical executive pay but focuses on maximizing long-term results for Tesla's shareholders.
Read at Fortune
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