Overview
- More than 75% of votes at Tesla’s Austin meeting backed the package, setting a contingent roadmap for Musk’s compensation over the next decade.
- The award pays in 12 tranches of stock tied to market-cap thresholds starting around $2 trillion and rising to $8.5 trillion, with no salary component.
- Operational targets include producing 20 million vehicles, reaching 10 million Full Self-Driving subscriptions, deploying 1 million robotaxis and 1 million Optimus humanoid robots, and profit goals cited at up to $400 billion.
- If fully achieved, the plan could add roughly 423 million shares to Musk’s holdings and lift his stake toward about 25%, though partial progress could still be worth tens of billions.
- Proxy advisers ISS and Glass Lewis and major investors including CalPERS and Norway’s sovereign wealth fund opposed the deal, which follows a Delaware court voiding Musk’s 2018 award and Tesla’s subsequent move to Texas.