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BREAKING: Tesla has announced a new interim stock award for Elon Musk to fairly recognize his past contributions and keep him focused on Tesla’s future.
Although shareholders approved Elon’s 2018 CEO Performance Award twice, it’s still stuck in legal issues in Delaware, with no resolution in sight.
Elon hasn’t received meaningful compensation since 2017, despite creating huge value for Tesla, around $735 billion in market cap. The Board believes it’s time to take action and keep its promise. As they said, “a deal is a deal.”
🏆 What’s in the award?
• Elon will get 96 million restricted Tesla shares, but they’ll only vest after 2 years if he stays in a leadership role.
• He must pay $23.34 per share, the same price as the 2018 award.
• Shares must be held for 5 years, except to cover taxes or purchase price.
• If the court brings back the 2018 award, this one gets cancelled to avoid double pay.
Tesla is entering a new era, moving beyond EVs into AI, robotics, and more. Elon’s leadership is key to that future. The Board sees this as a way to motivate and retain him, especially as competition for top AI talent heats up. Losing Elon could mean losing not just a visionary leader but also the talent he attracts.
This is only the first step. A long-term CEO compensation plan will be shared and voted on during Tesla’s Nov 6 shareholder meeting.
Full Support to Elon Musk, he deserves it. 💯

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