(original title: Elon Musk to get payout of nearby $800 million, CEO of Tesla's)

Netease technology news on May 29, according to foreign media reports, on Thursday local time, electric vehicle manufacturers confirmed in a backup document submitted to regulators that Elon Musk, the company's chief executive, had received the first performance stock option awards, worth nearly $800 million. It should be noted that according to the compensation plan approved by Tesla in 2018 for musk in the next ten years, musk does not have any salary or cash reward.

Photo source: visual China

The award includes about 1.7 million Tesla shares, worth about $775 million at Thursday's local time closing price, Tesla said in a regulatory filing filed with the securities and Exchange Commission. Tesla shares closed Thursday at $805.81, while Musk's exercise price was $350.02.

"As of the signing date of this power of attorney, musk will be able to receive the first performance stock option award, for which musk will pay an exercise price of US $350.02 per share," the document said However, it is not clear whether musk has exercised the shares of these awards.

According to the 2018 document outlining the massive compensation plan, when Tesla's market value remains at an average of $100 billion for six months, musk will receive the first stock option award. Of course, there are other conditions, such as revenue of 20 billion dollars for four consecutive quarters, or EBITDA of 1.5 billion dollars.

According to the data, as of May 1, musk had no salary, but he owned about 18.5% of Tesla, worth about $24 billion. To earn 12 performance stock options, musk needs to meet different milestones, with Tesla's market value at $650 billion.

Richard tornetta, Tesla's shareholder, is suing members of Tesla's board of directors over his massive compensation plan. In the lawsuit, he said Tesla's board violated its fiduciary duties and paid musk too much. (small)

Source: Netease Technology Report