TLDR Tech / Fintech
Tesla files to deliver Elon Musk's $56 billion pay package – ending the saga
Tesla has filed an S-8 registration statement with the SEC to register 303,960,630 shares of common stock for CEO Elon Musk under his 2018 pay package. The award was contingent on Tesla hitting 12 escalating market cap and operational milestones. It granted Musk options to buy 304 million shares (split-adjusted) at $23.34 per share. Musk must remain CEO or a product development executive at Tesla through to at least 2028 for the shares to vest, and he's required to hold them for five years.
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