Musk wins appeal and restores 2018 Tesla pay deal worth $56 billion [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
Delaware Supreme Court on Friday, two years after a lower court struck ?down the compensation deal as "unfathomable." The ruling overturns a decision that had prompted a furious backlash from ?Musk and damaged Delaware 's business-friendly reputation. The pay package was by far the largest ever until Tesla shareholders approved a new, even larger pay plan ?in November. The ruling means that Musk can finally get paid for his work since 2018, when he transformed Tesla from a struggling startup to one of the world's most valuable companies. The 2018 pay deal provided Musk options to acquire about 304 million Tesla shares at a deeply discounted price if the company hit various milestones, which it did. Tesla ?estimated in 2018 that the plan was ?potentially worth $56 billion, although given the rise in the stock price, the value ballooned to around $120 billion by early November. The options represent around 9% of Tesla's outstanding stock. Musk ?never collected his stock option
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- Romney breaks with GOP orthodoxy, says 'rich people like me' should pay more taxes to fix debt [FOX News]FOX News
- Elon Musk gets his $139 billion pay package from 2018 restored after a yearslong battle with a Delaware judge [Yahoo! Finance]Yahoo! Finance
- Elon Musk gets his $139 billion pay package from 2018 restored after a yearslong battle with a Delaware judge [CNN]CNN
- Tesla CEO Elon Musk's 2018 pay package reinstated by court [Yahoo! Finance]Yahoo! Finance
- Elon Musk's 2018 Tesla pay package must be restored, Delaware Supreme Court rules [CNBC]CNBC
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