Overview

• Musk received 96 million restricted shares worth about $29 billion under an interim award approved by shareholders on August 4.
• The shares vest only if Musk remains in a key executive role through 2027 and carry a five-year holding period at a $23.34 exercise price.
• A special committee led by Robyn Denholm and Kathleen Wilson-Thompson will offset or cancel the award if the original 2018 compensation is reinstated.
• The grant is structured to boost Musk’s voting power to roughly 15 percent as Tesla pivots from electric vehicles toward AI-driven services and robotics.
• Shareholders will vote on a permanent CEO compensation plan at Tesla’s November 6 annual meeting.