The Tesla Board has announced the award to Elon Musk with 96 million limited shares of the company, which is worth about $ 29 billion based on its current shares.
A Line Released on Monday, members of the Tesla Board of Directors, Rubin Danholm and Kathleen Wilson Thomson announced that the salary package “is the first important step in paying Elon Musk for his extraordinary work in Tesla.”
According to the letter, Musk has “received no meaningful compensation for eight years”, and the $ 29 billion salary package is a “good faith” to the CEO.
Musk’s 2018 Pay package, which is the highest in US corporate history, has been tied up in legal matters due to the ongoing shareholders’ trial. In December, a Delaware judge rejected the salary package for the second time, State Tesla’s lawyers had no ground of any procedure to turn its preliminary decision. Judge, Kathalin McCaramic, First rejection. In January 2024, the salary package, which stated that the Tesla board compensation plan was “failed to fulfill its burden” to prove in the best interests of the shareholders.
Tesla’s shareholder letter states that the company has a “no clear timeline for the resolution” and that it is waiting for the Delaware to be assigned the hearing date to appear before the Supreme Court.
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Danholm and Wilson Thomson have written that the board is “taking a decisive step to recognize the extraordinary price”. Musk has unanimously approved the salary package with the Musk and his brother, the blanket.
The package orders that Kasturi be able to buy 96 million Tesla shares $ 23.34 per share (the current stock price is more than $ 300). In return, Musk continued to serve as a senior leadership role in Tesla for a two -year Westing term. If its 2018 package is approved, it is also willing to seize or return a portion of the award.
Related: Why Elon Musk’s Battle with Delaware is more than $ 55 billion package
“It is important to maintain and stimulate his extraordinary abilities that starts with Elon,” written in this letter citing the ongoing war for AI’s skills and the recent headline for AI engineers.
On this announcement, the share price of Tesla has increased and today it has increased by about 2 %. Stocks are 18 % less to date.
Related: Lawyers fighting against Elon Musk’s pay package are asking for an hour $ 370,000 in legal fees: ‘We fought with the best.’
The Tesla Board has announced the award to Elon Musk with 96 million limited shares of the company, which is worth about $ 29 billion based on its current shares.
A Line Released on Monday, members of the Tesla Board of Directors, Rubin Danholm and Kathleen Wilson Thomson announced that the salary package “is the first important step in paying Elon Musk for his extraordinary work in Tesla.”
According to the letter, Musk has “received no meaningful compensation for eight years”, and the $ 29 billion salary package is a “good faith” to the CEO.
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