Overview

• The board authorized 96 million restricted shares valued at roughly $29 billion as a replacement for Musk’s invalidated 2018 compensation package.
• Musk must pay $23.34 per share when vesting triggers and remain in the CEO role through August 2027, with a prohibition on sales until 2030.
• The award carries a cancellation clause that voids the grant if the Delaware Supreme Court reinstates the original plan.
• A special board committee led by Robyn Denholm and Kathleen Wilson-Thompson recommended the grant to cement Musk’s stewardship during Tesla’s pivot into AI, robotics and robotaxi services.
• Tesla shares rose about 2 percent in after-hours trading following the announcement.