"Tesla's Board of Directors has proposed a new pay package for company CEO Elon Musk that would result in $1 trillion in stock offerings if he is able to meet several lofty performance targets. Musk, who has not been meaningfully compensated since 2017, completed his last pay package by delivering billions in shareholder value through a variety of performance-based "tranches," which were met and resulted in the award of billions in stock. Elon Musk's new pay plan ties trillionaire status to Tesla's $8.5 trillion valuation "
""We're asking you to approve the 2025 CEO Performance Award. In designing the new performance award, we explored numerous alternatives. Ultimately, the new award aims to build upon the success of the 2018 CEO Performance Award framework, which ensure that Elon was only paid for the performance delivered and incentivized to guide Tesla through a period of meteoric growth. The 2025 CEO Performance Award similarly challegnes Elon to again meet a series of even more aspirational goals,"
The board proposed a 2025 CEO Performance Award that could yield up to $1 trillion in stock if Elon Musk meets ambitious performance and valuation targets. Musk received no meaningful pay since 2017 and previously met a performance award that was blocked by the Delaware Chancery Court as an "unfathomable sum." The board argues the award is necessary to retain Musk, who the board credits with driving significant shareholder value. The new award builds on the 2018 framework, sets more aspirational goals, and includes operational milestones such as higher Adjusted EBITDA thresholds that the proxy describes.
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