Tesla Grants CEO Elon Musk $29 Billion Stock Award Amid Legal Challenges

Tesla has approved a stock grant valued at approximately $29 billion for CEO Elon Musk, comprising 96 million restricted shares. This interim compensation follows the invalidation of Musk's 2018 pay package by a Delaware court, which deemed the approval process flawed. The new award is contingent upon Musk's continued service in a senior leadership role for two years and includes a five-year holding period for the shares. The grant aims to retain Musk's leadership as Tesla navigates a critical transition toward artificial intelligence and robotics. The company emphasized that this award would be forfeited if the 2018 compensation package is reinstated upon appeal. Tesla's stock rose nearly 2% following the announcement.