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In the lawsuit, Tornetta argues that Musk and the automaker breached their fiduciary duties by awarding Musk a pay package that was "beyond the bounds of reasonable judgment." The shareholder also argued in the initial lawsuit that it was a conflict-of-interest that Musk was able to design his own pay package, alleging the funds have enabled Musk to focus on other companies without requiring the Tesla CEO to work at the electric-car maker full time.
Musk does not receive a salary from Tesla and his pay package centers on a series of goalposts around the carmaker's financial growth which was set in place about four years ago. Specifically, the plan involves a 10-year grant of 12 tranches of stock options, which are vested when Tesla hits certain targets.
France Dernières Nouvelles, France Actualités
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