"The proposed pay package, which was put forward by the board last September, would award Musk more than 423 million additional shares, increasing his stake to about 25 percent from its current level of 15 percent. In order to receive the full compensation, Musk would need to achieve a series of milestones, including raising Tesla's market capitalization from its current $1.5 trillion to $8.5 trillion in 10 years."
"Tesla shareholders voted Thursday to approve Elon Musk's staggering new pay package, in a move aimed at retaining the controversial CEO's leadership during a time of great upheaval for the automaker. Over 75 percent of shares voted in favor of the proposal. The vote gives Musk enormous sway over his electric vehicle company, as well as awards him with the largest corporate payout in history."
"Musk must also put into service 1 million robotaxis and sell 12 million more cars, 10 million Full Self-Driving subscriptions, and 1 million humanoid robots."
Shareholders approved a compensation package that would grant Elon Musk more than 423 million additional shares, raising his stake to about 25 percent from 15 percent. The package requires Musk to meet aggressive milestones over 10 years, including boosting Tesla's market capitalization from $1.5 trillion to $8.5 trillion. Required operational goals include deploying 1 million robotaxis, selling 12 million more cars, delivering 10 million Full Self-Driving subscriptions, and producing 1 million humanoid robots. More than 75 percent of votes supported the proposal. The approval increases Musk's influence and represents the largest corporate payout on record, with a final SEC tally forthcoming.
Read at The Verge
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