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Tesla moves to grant Elon Musk $114 billion in shares under 2018 pay plan
Tesla Inc. will register 303,960,630 shares of Tesla’s common stock to CEO Elon Musk under his 2018 pay package, according to a new filing with the Securities and Exchange Commission. The current share price of about $378 makes those shares worth more than $114 billion.
The move is a hard-fought victory for Musk. A pay package for Musk proposed in 2018 was invalidated by a Delaware court, which ruled it was improperly granted and that Tesla's board was not sufficiently independent.
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Tesla Inc. will register 303,960,630 shares of Tesla’s common stock to CEO Elon Musk under his 2018 pay package, according to a new filing with the Securities and Exchange Commission. The current share price of about $378 makes those shares worth more than $114 billion.
The move is a hard-fought victory for Musk. A pay package for Musk proposed in 2018 was invalidated by a Delaware court, which ruled it was improperly granted and that Tesla's board was not sufficiently independent.
#cars
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