Elon Musk reaches first Tesla compensation award worth nearly $800 million
Thursday, 28 May 2020 Xinhua/Ding Ting via Getty Images
Tesla CEO Elon Musk has unlocked the first of 12 possible stock option awards from the massive compensation plan he signed in 2018, and it’s worth nearly $800 million. The company disclosed on Thursday that Musk now has the option to buy 1.69 million of its shares because Tesla eclipsed $20 billion in total revenue over the last four quarters and a market capitalization of more than $100 billion — the first in a series of tandem milestones Tesla must hit for Musk to realize the full value of the plan.
Tesla’s stock price was $805.81 when the markets closed on Thursday, meaning those shares are worth about $1.36 billion. But Musk only has to pay a $350.02 per share “strike price” to get them, according to the agreement, or a total of...
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BERKELEY, Calif. (AP) — Tesla CEO Elon Musk appears to have hit all the milestones he needed to receive a stock award now worth about $730 million, a payday... SeattlePI.com Also reported by •Seattle Times •engadget •Business Insider •TechCrunch
DETROIT (AP) — Tesla confirmed Thursday that CEO Elon Musk will get the first tranche worth nearly $770 million of a stock-based compensation package triggered... SeattlePI.com Also reported by •USATODAY.com •Seattle Times •Mashable