Tesla has terminated a $29 billion interim compensation package for Elon Musk after a Delaware court restored his original $56 billion pay deal. The move prevents Musk from receiving both awards.
Tesla's board voted to discontinue the interim compensation granted to Musk while he fought to reinstate his 2018 stock option package. The 2018 deal had been voided by Delaware's chancellor in January 2024, but an appeals court reversed that decision in December.
The company committed to avoiding "double dipping"—allowing Musk to collect both the interim award and the restored larger package. The interim compensation was implemented as a potential fallback while legal proceedings unfolded.
With the 2018 package now restored, valued at approximately $56 billion, the $29 billion interim award becomes redundant. The reinstatement gives Musk one of the largest executive compensation packages ever approved, contingent on Tesla hitting specific performance targets.
The Delaware court's reversal marked a significant victory for Musk and Tesla's board after months of legal challenges over the pay package's validity.
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