Tesla has approved a $29 billion stock award for CEO Elon Musk, granting him 96 million restricted shares as part of a revised 2018 performance agreement.
The board emphasized that retaining Musk is critical to Tesla’s future as it expands into AI development, autonomous driving, and humanoid robotics.
The new grant locks Musk in through 2030 and comes with a five-year holding requirement. The shares are priced at $23.34 each, the same as the original plan that was struck down by a Delaware court earlier this year.
The package, approved by shareholders and reaffirmed by the board, signals strong support for Musk’s leadership during a pivotal phase for Tesla.
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