FILE - In this Sunday, Jan. 19, 2020, file photo, Elon Musk founder, CEO, and chief engineer/designer of SpaceX speaks during a news conference after a Falcon 9 SpaceX rocket test flight to demonstrate the capsule's emergency escape system at the Kennedy Space Center in Cape Canaveral, Fla. Tesla confirmed Thursday, May 28, that CEO Musk will get the first tranche worth nearly $770 million of a stock-based compensation package triggered by the company meeting several financial metrics.
FILE - In this Sunday, Jan. 19, 2020, file photo, Elon Musk founder, CEO, and chief engineer/designer of SpaceX speaks during a news conference after a Falcon 9 SpaceX rocket test flight to demonstrate the capsule's emergency escape system at the Kennedy Space Center in Cape Canaveral, Fla. Tesla confirmed Thursday, May 28, that CEO Musk will get the first tranche worth nearly $770 million of a stock-based compensation package triggered by the company meeting several financial metrics.
The electric car and solar panel maker’s board certified that Musk earned the big payout, according to a filing with the U.S. Securities and Exchange Commission. The filing says Musk can buy 1.69 million shares of Tesla stock for $350.02 each, but it wasn’t clear whether he had exercised the stock options. His payout is based on the difference between the option price and Thursday’s closing share price of $805.81.
All told, the incentives approved by Tesla’s board in 2018 consist of 20.3 million stock options that will be doled out in 12 different bundles if the company is able to reach progressively more difficult financial goals. It’s one of the biggest corporate pay packages in U.S. history. In order for Musk to receive all 20.3 million stock options, Tesla will have to generate adjusted annual earnings of $14 billion on annual revenue of $175 billion coupled with a market value of $650 billion. In the past four quarters, Tesla, which is based in Palo Alto, California, has reported adjusted earnings totaling $3.6 billion on revenue totaling $26 billion.
What about all the employees that made it possible.. do they get their Xmas turkey still? 🤣 Rich getting Richer! It's the American Dream! 😀
The Judicial System need an entire Shakeup. We know through Black history that their are KKK members in the police departments. It's time to expose these IDIOT'S and get them out of the Blue uniforms.
Space x is a laundering scam
Imagine that, no wonder he threw a hissy fit to open his plant, health of his workers be damned.
Sounds like a democrat move
'to say that they cannot leave their house and they will be arrested if they do, this is fascist. This is not democratic. This is not freedom.'
WOW:)!
Socialist!
Nice, now share it with the poor. That one payment could help so many. And so many of them would pay it forward. Only imagine.
Just checked the Tesla revenue and its revenue until March 2020 is just 5.98 billions and its CEO earned the stock-based compensation package worth 0.77 billion or equivalent to 12.88% of the whole revenue of 5.98 billions. Never seen of a person taking home over 10% of revenue
But he is selling his house. elonmusk
I’m sure he’s sharing fortune with all the employees, or will the get crappie letter in mail thanking them for their hard work and commitment.
Mr. Musk deserves it and I have no problem with it. He's one of the few billionaires I respect.
Maybe elonmusk can get that awful face lift fixed with some of that cash! Sheesh! tightenedup
“Triggered” is a strange word choice. Isn’t there a book w/that title? “$770 million of a stock-based compensation package triggered by the company meeting several financial metrics.” That much money could buy a small country or even an election. What were the metrics, I wonder
Mollie and grass for everyone.
Throw me 0.001% elonmusk
One of the reasons why America doesn't function anymore.
i don’t know about you but i like ceo’s of public companies that don’t take astronomical salaries
🤦🏾♂️
he tweets the stock is too high so it goes down then a couple weeks later he gets a shit ton of the stock... weird timing
Spreading all that misinformation about Covid in order to get his factories reopened finally paid off for him.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »