""We pay for outstanding performance - not for promises. In 2018, shareholders approved a groundbreaking CEO Performance Award that delivered extraordinary value. At our Annual Meeting on November 6, Tesla shareholders can vote on a pay-for-performance plan designed to drive our next era of transformational growth and value creation. Seven years ago, Elon Musk had to deliver billions to shareholders - now it's trillions."
"Musk's pay package will be voted on by Tesla shareholders at the company's upcoming annual meeting of stockholders this coming November 6. Tesla's proposal In its post, Tesla noted that the company pays for outstanding performance, not promises. Tesla noted that Musk's previous pay plan, which has been fully accomplished, was intended to deliver billions to TSLA shareholders. This time around, the company is looking to deliver trillions to stockholders."
Tesla will present a new CEO Performance Award for a shareholder vote at the annual meeting on November 6. The new plan ties Elon Musk's compensation and future voting rights to measurable economic results delivered to shareholders. The plan requires Musk to grow Tesla's market capitalization from about $1.1 trillion to $8.5 trillion within the next decade for full awards. Tesla frames the proposal as pay-for-performance, noting the 2018 award delivered substantial value and saying the company now aims to deliver trillions to shareholders. Voting rights for Musk vest only after he delivers the required economic value.
Read at TESLARATI
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