Overview
- About 75% of votes cast at Thursday’s Austin meeting backed the package, the company said.
- The plan pays out in 12 stock tranches tied to milestones starting at a $2 trillion market cap and rising to $8.5 trillion, alongside targets such as 20 million vehicles, 1 million robotaxis, 1 million Optimus robots and 10 million Full Self-Driving subscriptions.
- If fully achieved, Musk would receive roughly 423 million additional shares, lifting his stake toward about 25% and increasing his voting power.
- Norway’s sovereign wealth fund, CalPERS, ISS and Glass Lewis opposed the deal on governance, size and key‑person risk, but retail holders and supportive institutions carried the vote.
- Tesla plans an SEC filing to finalize terms as the multi‑year performance period begins, with Wall Street reaction mixed and TSLA slipping in early Friday trading.