Elon Musk pledges to ensure Tesla shareholders’ faith will be rewarded
How did Tesla shareholders respond to Musk's 2018 CEO Performance Award?
Tesla shareholders overwhelmingly approved Elon Musk's 2018 CEO Performance Award, which required the company to reach ambitious financial and operational targets over a 10-year period3. The award was later rescinded by a Delaware judge, prompting Tesla to ask shareholders to ratify the compensation plan at the 2024 Annual Stockholders' Meeting, where it was approved once again5.
What was the original market cap goal set for Tesla in Musk's 2018 award?
The original market cap goal set for Tesla in Musk's 2018 award was to reach $100 billion. This was part of a series of 12 market cap targets, each $50 billion more than the next, starting at $100 billion and so on, with the ultimate goal of Tesla achieving a market cap of $650 billion5.
What did Elon Musk pledge to Tesla shareholders recently?
Elon Musk pledged to work as hard as he can to ensure that Tesla shareholders are rewarded for their trust in him. This came after Tesla shareholders voted to restore his record $44.9 billion pay package that was previously thrown out by a Delaware judge. Musk expressed his appreciation for the strong support from both retail and large investors.