Over the weekend, Tesla CEO Elon Musk received 96 million shares of the business as part of an interim compensation plan.
The estimated value of the shares would be $29 billion. On Monday, Tesla’s shares increased by around 2%.
The salary package would vest in two years, the business stated in a filing on Sunday, provided Musk remained CEO or in another important executive role.
If Musk can execute the higher pay package, which was worth $56 billion, after the legal dispute over his 2018 remuneration is resolved, the new award will be forfeited.
Source (CNBC)
