The company allowed him to receive an award only for the achievement of certain indicators.
Tesla announced a change in the reward system for the general director of the company Ilona Mask. Instead of fixed payments for him, a system of rewards for the performance of certain indicators is introduced.
Now, Mask can count on a 10-year option program, which is divided into 12 tranches, each of which is 1% of the current number of shares in Tesla. Each of them is tied to a certain capitalization of the company, as well as its operational indicators.
To receive the first tranche, Mask should achieve Tesla's capitalization growth to $ 100 billion, each subsequent will be issued for an additional $ 50 billion.
To receive all payments, Mask should increase the capitalization of Tesla to $ 650 billion. For each tranche, certain operational indicators must be achieved, which are not disclosed.
The new program was developed by Tesla's board of directors and must be approved by the shareholders of the company. Ilon and his brother Kimball Musk did not take part in the discussions and will not participate in the voting, Tesla was assured.
In addition to Tesla Ilon Mask also heads SpaceX and his startup Neuralink.