"Tesla has made CEO Elon Musk's new compensation package official, as it filed a Form 4 with the Securities and Exchange Commission (SEC) on Monday. The package officially gives Musk the opportunity to acquire over 423 million shares of Tesla stock ( NASDAQ: TSLA), dependent on his ability to achieve twelve performance-based tranches that will bring growth to the company and its shareholders."
"Musk's new compensation package was approved by investors last Thursday at the company's Annual Shareholder Meeting, as over 75 percent of voters supported the CEO's new plan, which could be valued at over $1 trillion if he is able to come through on all twelve tranches. The twelve tranches include growth goals related to vehicle deliveries, the Optimus humanoid robot project, and Tesla's valuation."
Tesla filed a Form 4 with the SEC formalizing Elon Musk's new compensation package. The package allows Musk to acquire more than 423 million Tesla shares contingent on meeting twelve performance-based tranches. Shareholders approved the plan at the annual meeting with over 75% support. The package could be worth over $1 trillion if all twelve tranches are met. Tranches set growth goals tied to vehicle deliveries, the Optimus humanoid robot project, and Tesla's valuation. Specific listed levels include $7.5 trillion and $8.5 trillion market cap targets each coupled with $400 billion in adjusted EBITDA for four consecutive quarters. Achieving tranches would increase Musk's ownership and control. Musk receives no compensation if tranche targets are not met.
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