DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Tesla awards CEO Musk millions of shares valued at about $29 billion

August 4, 2025
in News
Key things to know about how Elon Musk has boosted hard-right figures in Europe
494
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

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.

In December Delaware Chancellor Kathaleen St. Jude McCormick her earlier ruling that Tesla must revoke Musk’s multibillion-dollar pay package. She found that Musk engineered the landmark pay package in with directors who were not independent.

At the time McCormick also rejected an equally unprecedented and massive , who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million.

The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package.

That pay package carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price.

Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was a special committee to look at Musk’s compensation as CEO.

Wedbush analyst Dan Ives feels Musk’s stock award may alleviate some Tesla shareholder concerns.

“We believe this grant will now keep Musk as CEO of Tesla at least until 2030 and removes an overhang on the stock,” Ives wrote in a client note. “Musk remains Tesla’s big asset and this comp issue has been a constant concern of shareholders once the Delaware soap opera began.”

Tesla shares have plunged 25% this year, largely due to blowback over Musk’s with President Donald Trump. But Tesla also faces from both the big Detroit automakers, and from China.

In its most recent quarter, Tesla reported that quarterly profits plunged from $1.39 billion to $409 million. Revenue also fell and the company fell short of even the lowered expectations on Wall Street.

Under pressure from shareholders last month, Tesla scheduled an annual shareholders meeting for November to comply with Texas state law.

A group of more than 20 Tesla shareholders, which have watched Tesla shares plummet, said in a letter to the company that it needed to at least provide public notice of the annual meeting.

Investors have grown increasingly worried about the trajection of the company after Musk had spent so much time in Washington this year, becoming one of the most prominent officials in the Trump administration in its bid to slash the size of the U.S. government.

Tesla’s stock rose more than 2% before the market open.

The post Tesla awards CEO Musk millions of shares valued at about $29 billion appeared first on Associated Press.

Share198Tweet124Share
Can Street Vendors Set Up Right Outside My Building?
News

Can Street Vendors Set Up Right Outside My Building?

by New York Times
August 9, 2025

Q: I live on the Upper West Side, and any day of the week, weather permitting, a guy comes by ...

Read more
News

After a Young Arts Patron’s Donation Did Not Clear, He Was Found Dead

August 9, 2025
News

Alexa Got an A.I. Brain Transplant. How Smart Is It Now?

August 9, 2025
News

Trump Cracks Down on Bird Deaths, but Only From Wind Turbines

August 9, 2025
News

What to Do When Your Manager Doesn’t Work. Like, at All.

August 9, 2025
Russia Presses Ahead With Massed Forces, Drones and Saboteurs

Russia Presses Ahead With Massed Forces, Drones and Saboteurs

August 9, 2025
I’m experimenting with AI in my 70s. I’ve had to adapt to new technologies my entire career — those who embrace change survive.

I’m experimenting with AI in my 70s. I’ve had to adapt to new technologies my entire career — those who embrace change survive.

August 9, 2025
At least one killed as firefighters battle Greece blaze for second day

At least one killed as firefighters battle Greece blaze for second day

August 9, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.