Nevertheless, Musk will solely obtain that cash over the course of a 10-year interval if Tesla’s market capitalization reaches $650 billion.
Musk’s base wage (which he didn’t settle for) was $51,380 in 2018, which displays the authorized minimal wage in California, in line with paperwork filed with the Securities and Alternate Fee on Friday.
The median Tesla employee’s compensation final 12 months was $56,163.
In one other submitting on Friday, the electrical carmaker revealed that 4 board members will go away the corporate as a part of a streamlining course of to permit the board to “function extra nimbly and effectively.”
Brad Buss, Antonio Gracias, Stephen Jurvetson and Linda Johnson Rice is not going to stand for re-election to the board on the finish of their respective phrases, in line with the submitting.
“Such agreements didn’t outcome from any disagreements between Tesla and any such administrators,” the submitting mentioned.