Overview

• Shareholders will vote on November 6, 2025 in Austin on a 10‑year plan that could grant Musk up to 423 million shares across 12 tranches.
• To unlock the full award, Tesla must reach roughly $8.5–$8.6 trillion in market value and deliver steep operational and financial milestones, including about $400 billion in adjusted EBITDA.
• Targets cited in filings and reports include millions of additional vehicle sales, 1 million robotaxis in commercial operation, 1 million humanoid robots, and about 10 million Full Self‑Driving subscriptions.
• The plan would be equity‑only with no cash salary or bonuses, could lift Musk’s stake toward roughly 29% if fully achieved, and places no limits on his time spent on other ventures.
• The proposal lands as Tesla contests a Delaware ruling that voided Musk’s 2018 package, and it includes a shareholder request on a potential Tesla investment in Musk’s xAI, with reports that SpaceX pledged $2 billion to xAI; Tesla shares rose about 2–3% on the news.