Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO.
Yeah this is a huge reason I haven’t considered buying an electric car; I want to keep it for over ten years, but don’t want to deal with that huge expense.
Agreed, I’ve been waiting for the next leap in battery technology. Ideally solid state batteries.
I’ll run my car into the ground while I wait.