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Musk's next big payday matters more than his last [Reuters]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
, opens new tab is asking New Tab , opens new tab investors to re-ratify boss Elon Musk's court-voided 2018 pay package at an upcoming shareholder meeting. That could help retain the person on whom the company's valuation – which has halved to roughly $500 billion over the last two years – so obviously relies. If anything, motivating Musk is more important now than it was when that old pay plan was announced. The awards laid out in 2018 were lavish, but came with some tough targets, which Musk indeed hit. The company's market value increased more than 10-fold, and Tesla met ambitious profitability and revenue milestones, unlocking a full payout of roughly 304 million options, worth about $40 billion today. Yet in January, a Delaware court said the process determining the package was hopelessly conflicted and that shareholders who approved it were ill-informed, voiding the grant. The company says that re-approval may remedy the situation, if courts don't reject it. Tesla can ill
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