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Tesla Shareholders Vote Yes on Musk’s $2.6B Compensation Plan

Total payout could exceed $55B if Tesla his all targets.

by on Mar.22, 2018

Tesla's shareholders approved the $2.6 billion compensation package for CEO Elon Musk.

Tesla Inc. shareholders told founder and CEO Elon Musk that they liked him, but not that they really, really liked him. Investors approved Musk’s compensation package by almost a 3-to-1 margin, which is lower than typical approvals.

The grant gives Musk $2.6 billion in stock options in 12 tranches, each of which vests as the company hits performance markers during the next 10 years.

Industry News!

The electric vehicle manufacturer must meet certain value targets in order for Musk to receive additional shares of Tesla stock. There is no cash compensation in the deal, according to a Securities and Exchange Commission filing. (more…)