Elon Musk is awarded 96 million restricted shares from Tesla, valued around $29 billion. The Tesla board of directors states this is a significant first step to compensate Musk for his extraordinary contributions over eight years without meaningful pay. Musk's previous pay package has faced legal challenges, with no resolution timeline from ongoing shareholder lawsuits in Delaware courts. The board emphasizes the necessity of this pay package to acknowledge Musk's value, requiring him to stay in a senior leadership role for two years to vest these shares.
Elon Musk is being awarded 96 million restricted shares by Tesla, valued at approximately $29 billion. This compensation is deemed a 'good faith' payment after unpaid work for eight years.
Tesla's board, led by Robyn Denholm and Kathleen Wilson-Thompson, views the new pay package as a critical step in recognizing Musk's extraordinary contributions to the company.
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