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.
The meritocracy at work.
It’s a cult.
“Hey, you know that asshole who tanked our brand? Let’s give him a ton of unearned money to stick around!”
Pretty reasonable when the board consists of your family and friends.
I’m also pretty certain that the stock would absolutely tank if he left.
He’s a fucking idiot, but the current valuation has zero basis in reality outside of his personality-cult. If that’s gone, all they are is a struggling mid-sized car company.
Damn for a community so knowledgeable on tech, ya’ll sure got a lot to learn about stocks lol.
So this is a power move by the rest of the board member of Tesla. RSUs arent considered tangible assets by the IRS. Meaning Tesla will be forcing Elon to pay the full value of the shares as income tax the year they were vested.
Plus the company issuing the RSUs have a security blanket where a company can defer issuing shares until the vesting schedule is complete, which helps delay the dilution of its shares. On top of any scenario where the employee/person holding the RSUs leave the company before the conclusion of their vesting schedule, they forfeit the remaining shares to the company.
They’re usually used as incentive to keep employees at a company so here’s where I hit the logical brick wall… what fuckin incentive do they have to keep must around unless theyre just betting that captain adhd jumps ship before the stocks are vested.
I too would love to receive 29 billion dollars for running a company off a cliff but I’m not corrupt to the bone
Image of being a low wage worker in Tesla, and learning this… They could have given around $230k in stock to every single one of their employees.
Yeah but these workers are making sales possible, not driving them down with public nazi stunts.
If this isn’t the best signal to you that nothing fucking matters at all and the share market is totally and utterly only some random imagination thing then i dont know what is.
Tesla sale goes down but stock price still up. CEO is one of the reasons it does and he gets rewarded for it.
Clownshow for sure
Musk needs to be rewarded with a few holes in his back.
Suicide by 3 shots to the back of the head.
Sounds fair for turning the brand to shit. That’s the corruption. Filthy evil rich.
Aristocracy never went away.
These image generators are good for one thing!
Heil, Shitler!
Makes sense honestly. The only thing holding the stock price aloft of his lunatic followers’ unwaivering belief in his greatness.
Yeah, the guy that single-handedly dropped the company’s stock value by ~20% should get a nice big bonus.
This proves that “free market capitalism” and “competition” is a scam. I’d be happy to fuck up a company that badly for a mere $15 billion. But they won’t even take my calls…
It’s “free market capitalism” for you and me, bail outs and welfare for them.
well you see, one of the stipulations for getting this much is doing a Seig heil. Which I am sure your moral conscience wouldn’t allow you to do. Or even if it did, I am sure there are a bunch of other criteria that is basically the inverse of whatever test for psychopathy they make people take at mental health institution that you must pass.
So be glad you’re not like him and don’t lament that he gets a bag of money.
If you work hard and keep your head down… 😭
if you work hard and keep your head down you will get cronic neck pain and fatigue because of course everybody sacrifices a good night’s sleep at the altar of hustle.
Was just thinking this morning how it’d been a week or two since I saw this dipshits face on here.
