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Tesla says Elon Musk will only get paid when the company does well

The auto company said Musk will only receive compensation for his work as CEO if the company and its shareholders do well, reports Reuters. Specifically, in a statement the company said, “Elon [Musk] will receive no guaranteed compensation of any kind–no salary, no cash bonuses, and no equity that vests simply by the passage of … Continue reading “Tesla says Elon Musk will only get paid when the company does well”

Tesla says Elon Musk will only get paid when the company does well
[Photo: courtesy of Tesla]

The auto company said Musk will only receive compensation for his work as CEO if the company and its shareholders do well, reports Reuters. Specifically, in a statement the company said, “Elon [Musk] will receive no guaranteed compensation of any kind–no salary, no cash bonuses, and no equity that vests simply by the passage of time.” Musk’s new performance awards include a 10-year grant of stock options that vest in steps, but which only vest if company market cap and operational milestones are achieved.

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