Tesla (TSLA) shareholders voted in favor of a $1 trillion compensation package for CEO Elon Musk with 75% voting for the unprecendented pay package.
The vote was confirmed at Thursday’s shareholder meeting.
To achieve the full payout, Musk must deliver on targets to significantly expand Tesla’s market value, revive the car business and build its robotaxi and robotics business.
By voting in favor of the pay package, Tesla (TSLA) shareholders have not only given a vote to Musk, but assured the visionary CEO remains at the company.
Shares perked up on the news, currently trading with a gain of 3% in after-hours.
