Tesla has granted Elon Musk a restricted stock package valued at approximately $29 billion to retain him as CEO. This award compensates Musk for leading various projects that have generated substantial value for shareholders over the past seven years. The approval came from a Special Committee of the Tesla Board, which aims to recognize Musk's extraordinary work and compensate him after not receiving significant compensation in previous years. The package includes 96 million shares, subject to a two-year vesting term.
Tesla's Board has unanimously approved a recommendation to grant Elon Musk an award of restricted stock equal to approximately one-third of the compensation he earned under the 2018 CEO Performance Award. This follows a package aimed at retaining him as CEO and rewarding his leadership in Tesla's successful projects that added billions in shareholder value over the past seven years.
The award includes 96 million restricted shares of stock, which will require Elon to pay a purchase price after meeting a two-year vesting term, ensuring that he is compensated for his future contributions to the company.
Collection
[
|
...
]