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		<title>Tesla awards CEO Musk millions in shares valued at about $29 billion</title>
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		<pubDate>Mon, 04 Aug 2025 11:24:13 +0000</pubDate>
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		<category><![CDATA[Compensation and benefits]]></category>
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					<description><![CDATA[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 [&#8230;]]]></description>
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<p class="EkqkG IGXmU nlgHS yuUao MvWXB TjIXL aGjvy ebVHC ">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. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">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&#8217;s CEO. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">In December Delaware Chancellor Kathaleen St. Jude McCormick <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/tesla-elon-musk-executive-pay-compensation-shareholders-86c5811b738e3a9df2b6e4adbcd055bb">reaffirmed</a> her earlier ruling that Tesla must revoke Musk’s multibillion-dollar pay package. She found that Musk engineered the landmark pay package in <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/technology-business-1f66ff6f9e9bb10ee7f1591a5dbc79ca">sham negotiations</a> with directors who were not independent.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">At the time McCormick also rejected an equally unprecedented and massive <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/tesla-elon-musk-corporations-executive-pay-lawyers-20d1e0cfcfe218b7db91701e4879250d">fee request by plaintiff attorneys</a>, 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.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">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. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC eTIW sUzSN ">Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/tesla-grok-musk-x-chatbot-xai-trump-ce3e7da4ec6ccf0e8c5e30772af53540">creating</a> a special committee to look at Musk’s compensation as CEO. </p>
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