Tesla Wants Musk's $41 Billion Pay Package Reinstated Despite Recent Headaches [Forbes]
Tesla, Inc. (TSLA)
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Source: Forbes
company's annual meeting: The reinstatement of billionaire CEO Elon Musk's historic pay package months after a Delaware judge ruled it was excessive, and a plan to ditch Delaware altogether." Tesla's board backed the reinstatement of CEO Elon Musk's massive stock awards Wednesday. Tesla shareholders will vote June 13 on restoring Musk's performance-based stock options award struck down in January by a Delaware judge, and on moving Tesla's state of incorporation from Delaware to Texas, Tesla's chairman of the board Robyn Denholm announced in Tesla's preliminary annual report filed with the Securities and Exchange Commission on Wednesday. Musk's pay package, which was first rolled out in 2018 when Tesla's market capitalization stood at below $60 billion, fully vested in late 2022 after Tesla hit the laid-out performance milestones, theoretically allowing Musk to boost his stake from 13% to 22%. Tesla's market value was $499 billion at Tuesday's close, implying the value of the p
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News
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- Elon Musk Slams Tesla With Fresh Round of Layoffs [Yahoo! Finance]Yahoo! Finance
- Volkswagen's electric car orders double in Europe [Yahoo! Finance]Yahoo! Finance
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- 4/23/24 - Beat
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Sec Filings
- 4/30/24 - Form PX14A6G
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form ARS
- TSLA's page on the SEC website