Mexican Media Brands
Tesla CEO Gets $4.3 Million Stock Grant
Tesla Motors Inc. has granted $4.3 million in stock-based compensation to co-founder and CEO Elon Musk for his work on the upcoming Model X electric SUV, Bloomberg News reports.
#hybrid
Share
Tesla Motors Inc. has granted $4.3 million in stock-based compensation to co-founder and CEO Elon Musk for his work on the upcoming Model X electric SUV, Bloomberg News reports.
The board gave Musk the stock award because it deemed that it is likely the Model X project will be completed, according to the news service, which cites a Tesla regulatory filing. The vehicle is due late next year. Musk's share won't vest until Model X sales begin.
The payment comes from the CEO Grant Fund of 5.3 million shares that the company set up last year to vest in 10 portions as various milestones are met.
Musk takes only $1 in annual salary from Tesla.
RELATED CONTENT
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.