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Message: <blockquote data-quote="Rick Sanchezz" data-source="post: 31054368" data-attributes="member: 576677">[MEDIA=youtube]Pb78ZGTDyRs[/MEDIA][MEDIA=youtube]Czm_HgkdmE0[/MEDIA]Tesla announced that more than 75% of shares voted in favor of the pay package during the company’s annual shareholder meeting. The vote didn’t include the 15% of the company that Musk already owns.The crowd at the meeting broke into cheers and chants when the results were announced. Musk thanked the shareholders and the Tesla board soon after. “I super appreciate it,” he said.Musk doesn’t take any salary, but the approved pay package comes in the form of a stock grant that would give him as much as 423.7 million additional Tesla shares over the next 10 years. [SPOILER="Condtions"] Conditions -Those shares could be worth about $1 trillion, assuming the company reaches the $8.5 trillion market cap needed to have Musk qualify for the full potential payout. In addition, Tesla needs to achieve a series of either operational or financial targets for him to get the full number of shares, which would be distributed in 12 equal blocks.Key ConditionsThe conditions are divided into two main categories that must be achieved for each of the 12 tranches: 1. Market Capitalization Milestones Tesla's market value must reach and sustain a total of $8.5 trillion. <ul> <li data-xf-list-type="ul">The milestones start with an initial target and increase in increments. The final target requires the company's value to grow nearly sixfold from its value at the time the plan was proposed.</li> <li data-xf-list-type="ul">These market cap goals must be "sustained," meaning the company has to meet both a 30-day and a six-month trailing average market value for each milestone. </li> </ul>2. Operational MilestonesIn addition to market capitalization, Musk must achieve a series of operational and financial targets, including: <ul> <li data-xf-list-type="ul">Vehicle Deliveries: Delivering 20 million vehicles.</li> <li data-xf-list-type="ul">Full Self-Driving (FSD): Reaching 10 million active FSD subscriptions.</li> <li data-xf-list-type="ul">Robotaxis: Deploying 1 million robotaxis for commercial operation.</li> <li data-xf-list-type="ul">Humanoiud Robots: Manufacturing and delivering 1 million "Optimus" humanoid robots.</li> <li data-xf-list-type="ul">Financial Targets: Achieving a specified total in actual earnings (around $400 billion). </li> </ul>Other Important Conditions<ul> <li data-xf-list-type="ul">No Guaranteed Pay: If none of the 12 tranches are achieved, Musk receives no compensation under this plan.</li> <li data-xf-list-type="ul">CEO Role: For vesting to occur, Musk must remain as Tesla's CEO or serve as both Executive Chairman and Chief Product Officer, with all leadership reporting to him.</li> <li data-xf-list-type="ul">Stock Sale Restrictions: Musk cannot sell the shares he earns for a period of 7.5 to 10 years after they are awarded, ensuring long-term alignment with shareholder interests.</li> <li data-xf-list-type="ul">Succession Plan: The final two tranches are contingent on having a board-approved CEO succession plan in place.</li> </ul>[/SPOILER] <ul> <li data-xf-list-type="ul"></li> </ul>Getting all the shares available under this package over the next 10 years would be the equivalent of earning $275 million a day, dwarfing any other executive pay package in history.</blockquote>

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