Overview

• Tesla granted Musk 96 million new shares valued at about $29 billion as a “good faith” interim award
• The shares vest only if Musk stays in a key executive position through 2027 and carry a five-year holding period, aside from tax or purchase-price obligations
• The grant includes an offset provision that will forfeit new shares if the 2018 award is reinstated, ensuring Musk cannot receive duplicate compensation
• By raising Musk’s stake above 15%, the board aims to strengthen his voting power ahead of Tesla’s strategic shift toward AI and robotics
• Shareholders will vote on a long-term compensation plan at the annual meeting on November 6 while legal appeals over the 2018 package proceed