Tesla boss Elon Musk has the prospect of a new billion-dollar stock package of the electric car manufacturer.
Tesla grants him 96 million shares that Musk should get in two years if he stays on the executive floor.
At the final course of Friday at $ 302.63, the 96 million shares would be worth around $ 29 billion (a good 25 billion euros). Musk should be able to acquire the shares for $ 23.34 per share.
An even larger remuneration package from 2018 had been overturned with a shareholder lawsuit – but Tesla’s calling, however, is still running. If the old package from a good 300 million shares is again valid, the new allocation would be no longer applicable, as Tesla said. The share increased by more than two percent in early US trade after the announcement.
The $ 23.34 per share was also the prize agreed in 2018. At that time, Musk had received the right to gradually acquire the papers when the company fulfills highly tackled goals over a period of up to ten years. Tesla cracked the target brands much faster.
Doubts about transparency
However, a shareholder had sued the remuneration at the then Tesla seat in the state of Delaware. And a judge decided in early 2024 that the allocation of the package was not legal. Musk had negotiations with the board of directors of the Electric car-In manufacturer had too much influence in the background – and the shareholders had been kept silent, she argued.
An unusual phrase got the case after the Tesla shareholders approved the package from 2018 again at a general meeting in June 2024 – this time obviously with more information alone through the sensational process. However, the judge remained with her rejection. Tesla appealed in Delaware – because the move to the 300 million shares has no influence to Texas in the summer of 2024. Tesla has now set up a higher hurdle for such shareholders.
The Tesla share temporarily gains 2.32 percent in Nasdaq trading to $ 309.67.
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