Tesla to Reward Top Performers with Stock Options After Shareholder Vote

Elon Musk announces new compensation initiative following approval of his own $55 billion pay package.

Tesla plans to grant stock options to employees demonstrating exceptional performance.
The announcement comes after Tesla shareholders reapproved Musk's substantial compensation plan.
Tesla previously canceled stock options and pay adjustments for many workers last year.
The company recently laid off over 10% of its workforce but has begun rehiring and posting new job openings.
Tesla's stock has declined 25% since the start of 2024 amid slowing demand and increased competition.