"Tesla has proposed a new 10-year compensation plan for CEO Elon Musk that could be worth as much as $1 trillion even as the EV maker's car business stumbles and it sets its sights on humanoid robotics and AI. The company has tied the compensation to a number of benchmarks, one of which involves increasing Tesla's overall valuation from around $1 trillion to more than $8 trillion."
"Tesla wrote to shareholders in a filing with the Securities and Exchange Commission that the company believes the world is at a "critical inflection point" in society, and claims it can usher in an era of "sustainable abundance" by "introducing innovative and affordable technologies at scale." "Tesla can help bring about a society that democratizes autonomous goods and services," the company wrote."
Tesla proposed a new 10-year compensation plan for CEO Elon Musk that could total up to $1 trillion and is linked to multiple performance benchmarks. One benchmark would require increasing Tesla's valuation from roughly $1 trillion to more than $8 trillion. The plan would grant over 423 million additional shares, raising Musk's control to about 25 percent. Shareholders will vote on the proposal at the annual meeting later this year. The proposal follows a $29 billion package intended to replace a plan struck down by a Delaware judge. Tesla framed its aims around enabling "sustainable abundance" and cited Musk's strategic role and Master Plan Part IV.
Read at TechCrunch
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